SF News Day Around the Bay: First Republic Branches All Becoming JP Morgan, or Closing The Parkmerced standoff with a barricaded man was resolved peacefully; SF-based First Republic Bank will cease to exist as of Memorial Day weekend; and the Kimpton Alton Fisherman's Wharf hotel has been surrendered to its lender.
Business & Tech SF's First Republic Bank Seized and Quickly Sold to JPMorgan Chase In Largest Bank Failure of the Year After infusions of cash failed to shore up San Francisco's forty-year-old First Republic Bank, the bank was seized over the weekend by federal regulators and put out for bids on Sunday, resulting in a quick sale to JPMorgan Chase.
Business & Tech Feds’ Autopsy On Silicon Valley Bank Collapse Blames Bank Management, Loosened Regulations The Federal Reserve performed a post-mortem on last month’s spectacular, sudden failure of Silicon Valley Bank, and blamed terrible decisions by bank management, but also themselves and the FDIC for lax regulation.
Business & Tech Silicon Valley Bank Gets Acquired By Something Called First Citizens Bank, Back Operating This Morning What’s left of the bankrupt and taken-over-by-the-government Silicon Valley Bank has been bought up by North Carolina-based First Citizens Bank, and while we don’t know the price, First Citizens got a hefty discount of at least $16.5 billion.
Business & Tech SF-Based First Republic Bank Gets $30B Lifeline From Group of Larger Banks It was good news on Thursday for regional bank First Republic, which on Monday was facing serious stress in the wake of the failure of Silicon Valley Bank. A coalition of larger banks agreed to funnel $30 billion in deposits to the bank to help it shore itself and meet the demand for withdrawals.
Business & Tech SF-Based First Republic Bank In Huge Trouble As Shares Collapse By More Than 70%, Trading Halted The feared “contagion” from the Silicon Valley Bank collapse has now spread to banks whose branches and ATMs you see around San Francisco, as the SF-based First Republic Bank tanked in the markets over bank-run fears.
Business & Tech Silicon Valley Bank Collapse Reverberates Through Bay Area Wine Industry, Tech Startups In addition to the many local tech companies large and small that are likely to be impacted by the collapse of Silicon Valley Bank (SVB), we're learning that they were a major lender and banking partner for the wine industry, accounting for about 2% of the bank's total business.
Business & Tech Silicon Valley Bank Shut Down By Regulators In Biggest Bank Failure In 15 Years In what may be a harbinger of more hard days ahead for the tech world in the Bay Area, a prominent lender to startups and one of the 20 largest banks in the country, SVB Financial Group or Silicon Valley Bank, has failed.
SF News California Attorney General Investigating Wells Fargo For Identity Theft California Attorney General Kamala Harris is leading an investigation into whether criminal identity theft took place at Wells Fargo, a bank embroiled in a scandal that may involve up to two million bank
Arts & Entertainment Not A Joke: Local Bank Introduces Robot Greeters That Dance To 'Gangnam Style' In a highly questionable move aimed at carving a niche for themselves as a local brick-and-mortar bank, and at marketing themselves to tech people (?), Sterling Bank & Trust has "hired" two robots to
SF News Here's What's Closed On Memorial Day Hope your Memorial Day is an honorable one. Here's where you won't be spending it: Federal, state courts and offices: closed City and county offices: closed Banks, savings institutions, credit unions: closed Post
SF News Woman Gets Called 'Slut' By Hateful Envelope Lisa McIntire has really had enough of having her lifestyle choices judged by office supplies, and who can blame her? First it was the stapler telling her she looked "used up," then it
SF News Bank Robbed At Mid-Market Over on the 1300 block of Market near 9th Street, a bank (possibly a Wells Fargo) was robbed. The culprit used nothing more than a few words on paper. "The suspect entered the
SF News Bank Robbers Strike Again, Acquire Cute FBI Nickname A group of bank robbers the FBI have dubbed the "High Jumper Bandits" is believed to have struck again last week. The crew, who impressed the FBI with their ability to leap over
SF News Spear Street Wells Fargo Robbed A little after 1:30 p.m. Monday, the Wells Fargo Bank at 100 Spear was robbed. A man, it seems, entered the bank a little after lunch hour, approached a female teller,
SF News Wells Fargo Dodges $203 Million In Overdraft Fees Sad news for anyone who has ever felt the sting of an overdraft fee from the nation's largest bank: a federal appeals court in San Francisco declared yesterday that Wells Fargo Bank does
SF News Castro Bank Of America Robbed A man described being anywhere "between 38 and 50 years old" sauntered into the Bank of America at Castro and 18th, handed the teller a note, and walked out with an undisclosed amount
Arts & Entertainment Occupy Bernal To Stop House Auction Tomorrow At City Hall On Friday, June 1, Occupy Bernal (the tiny Occupy group that, despite its size, somehow gets shit done) plans to stop the auction of Alberto Del Rio's house by making noise to drown
SF News Damaged Valencia Street Businesses Might Be Fined By City, Receive Bank Donation [Updated] Following Monday night's splinter group mini-riot that befell parts of the Mission (most notably on Valencia Street), Wells Fargo donated a whopping $25,000 to aid the more than 20 small businesses that
SF News Photos: Downtown One Big Traffic Jam As Occupy SF Takes Over Wells Fargo [Updated] Scads of Occupy activists marched to the Wells Fargo offices at California for the annual shareholders meeting. According to ABC 7, "An estimated 400 people are protesting outside " the building right now. "The
SF News Man Takes Customer Hostage At Hayward Wells Fargo Bank A man wielding a knife has apparently taken a customer hostage at a Wells Fargo Bank in Hayward this morning. "Police have closed traffic in the area near Wells Fargo Bank at 1172
SF News Activists Turn Bank Of America ATMs Into 'Truth Machines' Overnight Local rapscallions from the Rainforest Action Network (RAN) turned Bank of America ATMs into temporary political machines of activism overnight. Using non-adhesive stickers designed to look like BoA's ATM screens. In lieu of
SF News Poll Follow-Up: S.F. Fire Credit Union's the Winner [Updated] Last month, SFist asked for reader input on which is the best credit union in town, garnering a great response to our poll, along with much insight in the comments. For those who
