other material
confidence high
sentiment neutral
materiality 0.50
Safeguard reports no direct SVB exposure; seven portfolio cos have deposits, $9M undrawn loans
SAFEGUARD SCIENTIFICS INC
- Safeguard has no banking relationship with Silicon Valley Bank.
- Seven ownership interests have deposits, loans, or undrawn credit lines with SVB.
- One other portfolio company (approx 2% stake) has significant SVB deposits.
- FDIC's full depositor protection is expected to allow normal operations for those seven.
- Two companies had $9M aggregate undrawn SVB loan commitments; alternative financing being sought.