Moving iMage: No direct financial exposure to Silicon Valley or Signature Bank

Moving iMage Technologies said it has no direct financial exposure to Silicon Valley Bank or Signature Bank in the wake of the banks being closed by regulators. MiT utilizes banking services from Bank of the West, a subsidiary of BMO Financial Group, a highly diversified financial services provider and the 8th largest bank, by assets, in North America. Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation on March 10 . The CDFPI has appointed the Federal Deposit Insurance Corporation as receiver of SVB. Signature Bank, New York, NY, was closed on March 12, 2023 by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation as receiver.