SAN FRANCISCO — First Citizens Bank has launched First Citizens Innovation Banking, a rebranded division drawn from the former Silicon Valley Bank, which failed in 2023, according to a bank statement.
The division, formerly Silicon Valley Bank’s Technology & Healthcare Banking business, serves investors, startups and high-growth technology and health care companies in the United States and internationally. First Citizens also announced the launch of First Citizens Fund Banking to serve private equity and venture capital clients.
Silicon Valley Bank was closed by California regulators on March 10, 2023, and placed into Federal Deposit Insurance Corp. receivership. First Citizens subsequently acquired deposits and loans of Silicon Valley Bridge Bank, the successor institution established by the FDIC.
Building On The Business
“We are building on the legacy of Silicon Valley Bank and bringing greater scale and resources to make our platform even stronger,” said Frank Holding Jr., chairman and CEO of First Citizens Bank.
“Investing in, and strengthening, this business remains a priority for First Citizens,” Holding said. “We are committed to the innovation economy for the long term, and, as First Citizens Innovation Banking, we will continue to provide market leading solutions, services and insights our clients rely on to succeed.”
The bank said the business has served the innovation economy for more than 40 years, providing specialized financial services and industry expertise.
New Marketing Campaign
First Citizens also launched a marketing campaign, “Where Silicon Valley Banks,” featuring digital, print and outdoor advertising in selected innovation markets nationwide.
The campaign will accompany the bank’s participation in events and conferences during 2026, including San Francisco and Los Angeles Tech Weeks, Money20/20 and HLTH, according to the statement.
“Silicon Valley is more than just a region in California — it’s synonymous with innovation, entrepreneurship and growth,” said Marc Cadieux, president of First Citizens Innovation Banking.
“For decades, we have helped founders, entrepreneurs and investors build and scale industry-defining companies,” Cadieux said. “Our business was purpose-built for the innovation economy, and that will continue.”
Preserving ‘Expertise’
Cadieux said the name change would preserve the business’s expertise, relationships and commitment to its clients.
