SVB Financial paid out bonuses hours before seizure, Axios reports

Silicon Valley Bank on Friday paid out annual bonuses to eligible U.S. employees, just hours before the bank was seized by the U.S. government, Axios’ Dan Primack reports, citing multiple sources. The bonuses were for work done during 2022, and were previously scheduled to be disbursed on March 10. That date ultimately coincided with the bank’s takeover by the Federal Deposit Insurance Corporation, the author notes. Reference Link