Banks

SVB's Collapse Is Dragging Down Other Mass. Banks. Here's How Much.

By Don Seiffert • Published March 10, 2023 • Updated on March 10, 2023 at 2:51 pm

Silicon Valley Bank, a subsidiary of SVB Financial Group, has its headquarters in Santa Clara.

In wake of the spectacular collapse of Silicon Valley Bank this week, shares of most other Boston-area banks have fallen at a faster rate than the broader market since Wednesday, with several down more than 10% as of 2 p.m. Friday and at least one down by more than 30%.

Shares of SVB (Nasdaq: SIVB) had fallen 60% before trading was halted Friday morning. Federal regulators shut the bank down entirely around noon Friday.

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