SoFi Made 2 Genius Moves in 2022 to Avoid Silicon Valley Bank's Fate

With the recent demise of 40-year-old Silicon Valley Bank (SVB) and the recent desperation sale of 167-year-old Credit Suisse, some may be especially nervous about their own bank stocks. While this high-growth neobank still has a lot to prove, SoFi management's recent decision-making is looking pretty smart today, and that's encouraging for investors going forward. The first genius move SoFi made last year was getting a banking license, which it obtained through the acquisition of Golden Pacific Bancorp in February of 2022, renaming the bank holding company SoFi Bank.