“It’s a Wonderful Life” until it’s not. Like George Bailey’s Building & Loan in the iconic Christmas movie, previously thriving banks have faced financial ruin as jittery customers lose faith and pull out their funds. George Bailey’s “measly one-horse institution,” was easily saved in the movie, while today’s bankers navigate a complicated environment unseen in George Bailey’s day.

It started when La Jolla’s crypto-lender Silvergate Capital Corp. collapsed, which was initially considered a part of ongoing the crypto industry’s meltdown. But then the tech and venture capital-focused Silicon Valley Bank saw its assets decline in value to the tune of $1.8 billion. After signaling its plan to raise capital through a stock offering, the run on the bank took off at breakneck speed. Within seven days, Silicon Valley Bank’s parent company SVB had filed for Chapter 11 bankruptcy protection.