First Citizens Bancshares Inc., one of the nation’s largest regional banks, is buying large pieces of Silicon Valley Bank more than two weeks after the lender’s collapse sent tremors through the banking system. 

The Federal Deposit Insurance Corp. said First Citizens is acquiring all of Silicon Valley Bank’s deposits, loans and branches, which will open Monday morning under the new ownership. 

First Citizens BancShares Inc. agreed to buy Silicon Valley Bank, which was seized by regulators following a run on the lender.

The bank agreed to take on all deposits and loans, a deal that includes the purchase of about $72 billion SVB assets at a discount of $16.5 billion, according to a statement from the Federal Deposit Insurance Corp. The agency took control of the bank after SVB collapsed earlier this month.

The Silicon Valley Bank finally has a buyer. 

On Sunday, the Federal Deposit Insurance Corporation (FDIC) announced First-Citizens Bank & Trust Company of Raleigh, North Carolina entered a purchase agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association.

"The 17 former branches of Silicon Valley Bridge Bank, National Association, will open as First–Citizens Bank & Trust Company on Monday, March 27, 2023," the FDIC said in a statement.