10-03-2023 16:50 via bizjournals.com

SVB trading halted amid report that bank in talks to sell itself

Trading on Silicon Valley Bank Financial Group shares were halted for pending news before Wall Street opened Friday after shares plunged further in pre-market trading.The Santa Clara-based parent company of Silicon Valley Bank, the region's biggest bank ranked by local deposits, has been in crisis since late Wednesday when it announced plans to sell $1.75 billion in stock to help fix its financial situation. The stock lost 60% of its value Thursday and, according to CNBC, had dropped another 60%
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