It'll be interesting to find how many other banks are in a similar position. With interest rates rising so much recently, it's entirely possible there are many others.
Sitting on older, lower-interest bonds is fine unless you suddenly have to sell them. At that point, they'd be sold at a significant loss in this higher-interest environment--which is exactly what happened to SVB.
That's not to say the Fed is wrong to be raising interest rates. With the senile creep trying to crash the system, higher interest rates are the only thing keeping inflation under control.
The greater evil was keeping interest rates at essentially zero for YEARS. That allowed younger people in banks to come up in an artificial environment, which they tragically failed to understand until interest rates went back up to historically-normal levels.
Either way, we're now living in interesting times!
:(
