Silicon Valley Bank, Signature Bank executives gave thousands to Democrats and Republicans

Correction & clarification: A previous version of this article misstated a committee assignment for Sen. Gary Peters, D-Mich..

Before they went down in history as two of the largest bank failures in the U.S., executives for Silicon Valley Bank of California and Signature Bank of New York were political donors who steered their money toward people who influence financial services laws.

Silicon Valley Bank Political Action Committee gave to Democrats and Republicans with the most influence over their industry, while the bank's executives used their own money to donate more often to Democrats, according to a review of filings with the Federal Election Commission. Executives for Signature Bank gave to a steady mix of Republicans and Democrats.

Several lawmakers showed up repeatedly in records from the Federal Election Commission, such as Rep. Patrick McHenry, R-N.C., the chairman of the House Financial Services Committee, and Senate Majority Leader Chuck Schumer, D-N.Y. Other donations that executives made appeared to reflect their personal interests.

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How Silicon Valley Bank PAC donated to lawmakers.

Silicon Valley Bank PAC posted five-figure fundraising totals during most election cycles dating back to 1998, maxing out in 2011 and 2012 when it brought in about $60,000. Much of the money the PAC could pool and spend over the years has come from Silicon Valley Bank executives. Some of its major recipients include:

• Sen. Mark Warner, D-Va., received $21,600 cumulatively from 2011 to 2022. He is a member of the Senate Banking Committee. He was one of 11 Democrats in the Senate who voted to approve the 2018 rollback of some Dodd-Frank banking regulations. 
  

• House Speaker Kevin McCarthy, R-Calif., received $13,667 from 2011 to 2018. The largest donation, the maximum $5,000, came in 2018, about a week after he voted with the majority of the House to pass the rollback of Dodd-Frank banking regulations. 
  

• Rep. Patrick McHenry, R-N.C., received $10,000 from 2015 to 2022 in four separate transactions of $2,500. He is the chairman of the House Financial Services Committee and voted in 2018 to roll back some of the Dodd-Frank banking regulations. 
  

• Rep. Zoe Lofgren, D-Calif., received $8,600 from 2006 to 2019, most often in $1,000 increments. Her district includes a large swath of Silicon Valley. She voted against the 2018 rollback of Dodd-Frank banking regulations and has pushed to break up tech conglomerates. 
  

• Sen. Gary Peters, D-Mich., received $8,000 from 2014 to 2019. He voted in 2018 to roll back some of the Dodd-Frank banking regulations.

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Executives for Silicon Valley Bank donated largely to Democrats.

Gerald Brady, a managing director for Silicon Valley Bank, donated $36,850 to Democrats and their causes from 2020 to 2022. The total includes:

• $17,050 to the Democratic National Committee
  

• $15,950 to President Joe Biden's campaign and affiliated PACs
  

• $3,625 to a PAC called Stop Republicans 
  

• $1,500 to a Democratic candidate for House in California, Audrey Denney 

• $1,025 to Sen. Raphael Warnock, D-Ga. and $500 to Sen. Jon Ossoff, D-Ga.

• $1,000 each to campaigns for Amy McGrath in Kentucky and Sen. Mark Kelly, D-Ariz.

Greg Becker, the CEO of SVB, gave $23,400 from 2014 to 2021. Among the donations:

• $5,800 to Senate Majority Leader Chuck Schumer, D-N.Y. 
  

• $5,600 to Sen. Mark Warner, D-Va.
  

• $5,000 to the Technology Network Federal PAC 
  

• $2,500 to the Majority Committee PAC, affiliated with House Speaker Kevin McCarthy. 
  

• $1,500 to Rep. Zoe Lofgren, D-Calif.

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Signature Bank executives donated to a mix of Republicans and Democrats.

Scott Shay, who has served as chairman of Signature Bank since 2000, has given $175,450 since 2008, with $113,550 of that from 2020 through 2022. Donations include;

• $70,000 to DMFI PAC, which supports Pro-Israel Democrats 
  

• $21,800 to Rep. Patrick McHenry, R-N.C. and an affiliated PAC 
  

• $6,600 to Senate Majority Leader Chuck Schumer, D-N.Y.
  

• $5,400 to Sen. Heidi Heitkamp, D-N.D.
  

• $5,000 to Sen. David McMullin, R-Utah.

Thomas Kasulka, executive vice president and chief lending officer of Signature Bank, gave $26,700 from 2015 to 2021. Donations include:

• $15,900 to Rep. Patrick McHenry, R-N.C., and an affiliated PAC
  

• $2,800 to Sen. Tina Smith, D-Minn. 
  

• $2,500 to former Sen. Joseph Donnelly, R-Ind. 
  

• $2,000 to Sen. Heidi Heitkamp, D-N.D.
  

• $1,500 to Senate Majority Leader Chuck Schumer, D-N.Y.
  

Joseph DePaolo, the president, CEO and director of Signature Bank, gave $20,750 between 2010 and 2021. Donations include:

• $11,000 to Rep. Patrick McHenry, R-N.C., and an affiliated PAC
  

• $2,500 to Senate Majority Leader Chuck Schumer, D-N.Y.
  

• $1,500 to Sen. Tina Smith, D-Minn. 
  

• $1,250 to Sen. Heidi Heitkamp, D-N.D.
  

• $1,250 to American Mid-Size Banks PAC 

This article originally appeared on USA TODAY: Silicon Valley Bank executives gave to Democrats and Republicans