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He began his career as a bank examiner at the Federal Deposit Insurance Corp. in 1981, until becoming president of American National Bank in Omaha in 1989.

It also promised to provide training to its bank examiners to better assess those risks.

According to the Fed, SVB's management bore significant blame and bank examiners also made grave missteps.

In recent weeks, Republican lawmakers have sought to blame the banks’ failure on distracted executives and on insufficiently stringent supervision by bank examiners at the Federal Reserve.

A team of 20 bank examiners at the San Francisco Federal Reserve took over day-to-day supervision of the bank in the second half of 2021.