“We are open for business”

Silicon Valley Bank’s new CEO held a town hall meeting on Wednesday and sought to reassure employees that the bank has no plans to close, according to two people who listened to the call.

Tim Mayopoulous, whom the Federal Deposit Insurance Corporation appointed chief executive after he took control of the bank on Fridaytold employees that the bank had resumed many of its usual business operations.

“We’re open for business, making new loans, processing payments and offering all the solutions we’re known for,” Mayopoulus said, according to a person on the call.

People who spoke to NBC News requested anonymity, citing a lack of permission to speak publicly and concerns about professional repercussions.

Silicon Valley Bank’s future has remained uncertain since the FDIC shut it down on Friday. The bank reopened Mondayalthough it can still be acquired.

Federal regulators said Sunday that it guarantee all deposits to the bank, allaying customer fears that billions of dollars will never be recovered.

Mayopoulos, who was general counsel for Bank of America during the 2008 financial crisis and was CEO of mortgage insurance company Fannie Mae, said the bank could still be acquired, but he saw value in it continuing on its own.

He also told employees that venture capitalists, who make up a large part of the company’s business, had expressed their support for the bank in meetings.

Venture capitalists, investors who invest in startups and booming industries, made up a large part of Silicon Valley Bank’s customer base and overall business. Many venture capitalists expressed their continued support for the bank and said they would continue to work with it in the future.

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