San Jose Inside

Moody’s downgraded the credit rating of six regional banks, including the holding company of San Jose’s Bridge Bank.

The college was on lockdown for more than two hours, after the security sent out alerts shortly after 11am that an armed intruder with a rifle was seen at the Saratoga campus.

Shares of Western Alliance Bancorp (WAL) – the parent company of San Jose’s Bridge Bank – took an 84% plunge in the first 90 minutes of trading, before rebounding to $23.09 per share by 1:30 EDT.

The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced in a joint statement Sunday that all Silicon Valley Bank depositors will have access to all of their money starting Monday, March 13, and that none of these costs will be paid by U.S. taxpayers.

For most banks, higher interest rates are good news because they can charge more for loans. But for SVB, they hurt.

Insiders told a business news network that the Santa Clara-based bank has historically paid employee bonuses on the second Friday of March.

State officials say the urgency to store more water has vanished as storms swell reservoirs. The reversal is a victory for environmentalists, but they say the damage to salmon and native fish is already done.

Adobe said 10 Oscar-nominated films used Adobe creative applications, including Everything Everywhere All at Once, Black Panther: Wakanda Forever and Top Gun: Maverick.

The FDIC move came less than two hours after a decision by tech funding giant SV Financial Group, parent company of Silicon Valley Bank, to halt trading shortly after markets opened this morning on NASDAQ – after its stock collapsed in 24 hours from $176.55 to $39.25 per share – sent shock waves across financial markets worldwide.

Gilroy Police began to investigate a series of fraudulent checks that were passed under the names of various businesses in Santa Clara County and San Mateo County in early February.

A three-month investigation ended last week when police arrested Peter Karasev, 36, on suspicion of bombing transformers on Thornwood Drive in December and on Snell Avenue in January.

In his initial climate budget proposal, the governor has cut about $561 million from local coastal resilience projects. Legislators, cities express concerns.

The atmospheric river will be most severe on Friday, with a flood watch already in effect today through Sunday, a wind advisory today and tomorrow for the entire Bay Area and Gov. Gavin Newsom declaring a state of emergency for Santa Clara and 20 other counties.

A 35-year-old Walnut Creek man was arrested on suspicion of crimes that include misdemeanor battery, assault and a hate crime in connection with the March 3 incidents in downtown Palo Alto.

The Weed Abatement Program requires property owners to remove excess vegetation and combustible debris. Inspections began this month in San José, Santa Clara and Campbell.