▶ Watch Video: Silicon Valley Bank client speaks about the impact of the collapse on her business New York-based swimwear company Andie Swim founder Melanie Travis was caught unprepared by the sudden collapse of Silicon Valley Bank, she told CBS News. On Friday, Silicon Valley Bank (SVB), the 16th-largest U.S. bank with $210 billion in assets, was seized by California regulators after depositors rushed to withdraw funds over concerns the bank might become insolvent. SVB catered to envelope-pushing tech startups, internet and software companies, as well as firms in the life science and health care space, and premium winemakers. Andie Swim was among the bank's customers and Travis told CBS News that she was "panicked and flustered," upon hearing the news of the bank's closing. Travis said she and her team knew there was a crisis looming and they were working on moving to another bank Friday midday during which she learned SVB had collapsed.