Erebor Bank Tops $7B in Deposits to Replace Silicon Valley Bank

Startups14 days ago

The startup bank co-founded by Palmer Luckey added over 500 customers and $3 billion in deposits during the most recent quarter. Total deposits at Erebor have climbed past $7 billion since the entity launched in February. The bank focuses on early-stage technology businesses and aims to become the primary lender for startups following the collapse of Silicon Valley Bank.

Erebor specifically targets the defense and manufacturing sectors, where firms often require capital for payroll, materials, and equipment while awaiting payment. The extent of the bank's impact on American manufacturing will depend on the volume of loans extended to these companies beyond the growth of its deposit base.

Mapped to your portfolio

Possible scenarios

40%Erebor consolidates niche+0.1%
25%Incumbents fight back+0.0%
20%Regulators slow expansion-0.1%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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Erebor Bank Tops $7B in Deposits to Replace Silicon Valley Bank

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Erebor Bank Silicon Valley Bank Palmer Luckey

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

40%Erebor consolidates niche+0.1%
25%Incumbents fight back+0.0%
20%Regulators slow expansion-0.1%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.