Silicon Valley Bank, the Santa Clara-based bank that was a major backer for technology companies and startups as recently as Thursday, has been shut down.
This is the second biggest bank to fail in U.S. history, and the biggest bank failure since the 2008 financial crisis.
As the news spread Friday morning, sources say many Silicon Valley Bank workers were told to stay home apart from essential branch staffers.
Still, as journalists flocked to the bank's Santa Clara headquarters, a number of workers were seen sequestered inside the bank's locked doors—pizza was even delivered.
The Standard witnessed customers lingering outside the bank, many holding cellphones, sending harried texts and making important calls.