Marchex discloses $4.6M at Silicon Valley Bank; says no material impact after FDIC action

MARCHEX INC

Marchex had ~$4.6M in a bank account at SVB and ~$5.5M in a money market account managed by SVB Asset Management (securities held at non-SVB custodian).
Joint statement by Treasury, Fed, and FDIC: depositors will have full access to SVB funds starting March 13, 2023.
Company states it does not expect material adverse impact on bank balance, money market access, or liquidity.
Marchex had ~$20.5M cash and cash equivalents at Dec 31, 2022, providing additional context.

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