First Citizens to retire Silicon Valley Bank name, rebranding units by Q4 2026

First Citizens BancShares, which acquired the failing Silicon Valley Bank (SVB) three years ago, announced plans to retire the SVB name by the fourth quarter of 2026. SVB will be split into two units: First Citizens Innovation Banking and First Citizens Fund Banking, while CIT Commercial Services and the SVB Wine division will rebrand as First Citizens Bank. This move aligns the brand with First Citizens' business strategy and signals a long-term commitment to innovation and private equity sectors. The rebranding follows SVB's 2023 collapse due to liquidity issues and regulatory takeover, with First Citizens having acquired $72 billion of SVB's assets for $16 billion.