- Latch, Inc (NASDAQ:LTCH) disclosed deposits with SVB Financial Group (NASDAQ:SIVB) of approximately $3.1 million, representing less than 2% of the company's total cash and equivalents as of March 8.
- Latch believes the FDIC has insured a portion of the deposits.
- Latch's cash and cash equivalents and current and non-current available-for-sale securities as of March 8 were approximately $215.4 million.
- Today the U.K. government has announced that HSBC Holdings, Plc (NYSE:HSBC) acquired Silicon Valley Bank's British arm.
- The deal comes in the wake of the collapse of Silicon Valley Bank, a subsidiary of SVB Financial Group, on Friday, following which the Federal Deposit Insurance Corp assumed control of the bank.
- The company also said it has no deposits with Signature Bank (NASDAQ:SBNY).
- Also Read: Biden Addresses FDIC Bank Takeovers: 'The Banking System Is Safe'
- Price Action: LTCH shares traded higher by 21.09% at $0.62 on the last check Monday.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
Posted In:
