“As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits.”
California regulators closed Silicon Valley Bank and handed it to the FDIC, the first insured bank to fail since Almena State Bank in Kansas in 2020. Almena did not hold $175.4 billion in deposits. Insured accounts reopen Monday. Everyone over $250,000 gets an advance dividend and a receivership certificate, which is an IOU for whatever the FDIC can sell the assets for.