Morning Notes

Silicon Valley Bank Failure Hits Home — “Banking regulators shut down Silicon Valley Bank Friday morning in a stunningly swift collapse of a financial institution entwined in the D.C. region’s startup ecosystem… Based in Santa Clara, California, Silicon Valley Bank operated an office in Rosslyn… Arlington restaurant software platform company MarginEdge, like many tech startups, maintained a deposit account at Silicon Valley Bank but moved the ‘lion’s share’ of its funds to a different financial institution on Thursday, co-founder and CEO Bo Davis told the Washington Business Journal in an email.” [Washington Business Journal]

Substance Abuse Discussion Tonight — “Arlington H.S.-wide substance abuse crisis panel March 13 at TJ [Middle School] — this event is hosted in part by W-L, Wakefield and Yorktown high schools. Speakers from DEA, DHS, Arlington PD/Fire.” [Twitter]

New Opening Estimate for Four Courts — “As we’re inching closer to St. Patrick’s Day, folks in the Arlington, Va. community are probably wondering when the popular Irish pub Ireland’s Four Courts will reopen. 7News learned that construction is underway and the managing partner of the pub said they’re hoping to reopen by early August.” [WJLA]

Another Gun Caught at DCA — “An Alexandria man was stopped from bringing a loaded handgun onto his flight at Ronald Reagan Washington National Airport Thursday morning, according to the Transportation Security Administration. The 9mm caliber gun, loaded with 15 bullets, was found in the man’s carry-on bag as he went through a security checkpoint at the airport.” [Patch]

ART Ridership Remains Lower — “An ongoing dearth of riders on the Arlington Transit (ART) bus service is one reason why taxpayers are likely to have to cover the vast majority of the cost for every trip taken on the bus system in the coming year, according to new data. As part of developing the government’s fiscal 2024 budget, officials are projecting cost recovery of 12 percent for the fiscal year that begins in July. That’s up from pandemic years, when ridership fell off a cliff, but is well below pre-pandemic levels.” [Gazette Leader]

It’s Monday — Light rain in the morning and afternoon. High of 47 and low of 39. Sunrise at 7:24 am and sunset at 7:14 pm. [Weather.gov]