A growing chorus of Republicans is placing fault for Silicon Valley Bank's collapse on "woke" investments and policies at the company.

The bank's downfall, which was in large part precipitated by the company's heavy investment in Treasury bonds that lost value as a result of the Federal Reserve's rate hikes, prompted the Biden administration to step in and backstop its deposits, which some decried as a de facto "bailout," but grumblings over the company's social justice agenda were particularly pronounced on the Right.

SILICON VALLEY BANK COLLAPSE: U.S. OFFICIALS REPORTEDLY WEIGH BACKSTOPPING DEPOSITORS

"SVB didn’t insure over 89% of their deposits and instead hedged on failing funds that offered 'sustainable finance and carbon neutral operations to support a healthier planet.' In other words the fools running the bank were woke and almost became broke, but the Democrats and the Fed swooped in to make sure their woke donors at SVB didn’t go under," Rep. Marjorie Taylor Greene (R-GA) tweeted.

Last year, SVB committed $5 billion in "loans, investments, and other financing to support sustainability efforts" by 2027. The company also pledged to be carbon-neutral by 2025 and has promoted diversity, equity, and inclusion, also known as DEI, initiatives.

“This bank, they’re so concerned with DEI and politics and all kinds of stuff. I think that really diverted from them focusing on their core mission,” Gov. Ron DeSantis (R-FL) told Fox News over the weekend.

"We see now coming out they were one of the most woke banks in their quest for the ESG-type policy and investing," Oversight Committee Chairman James Comer (R-KY) told Fox News over the weekend, referencing environmental, social, and governance policies.

SVB was shuttered and taken over by regulators Friday after a run on the bank left it straddled with a nearly $1 billion negative cash balance and a stock price plunge of about 60%. Earlier last week, on Wednesday, the company rattled investors and depositors when it revealed that it dumped about $21 billion in bonds, crystallizing nearly $1.8 billion in previously unrealized losses.

Billionaire Peter Thiel’s Founders Fund was one of the notable actors to pull funds from SVB and reportedly advised clients to withdraw their money.

On Sunday, the Fed, Federal Deposit Insurance Corporation, and Treasury Department announced plans to backstop deposits at SVB and Signature Bank, another institution that faltered over recent days. Typically, the FDIC insures deposits up to $250,000, but many SVB deposits exceeded that threshold.

The company's stock portfolio exploded during the pandemic, shooting up from about $27 billion in the first quarter of 2020 to roughly $127 billion by the end of 2021. During that time, it loaded up on Treasuries, or government debt instruments.

However, as the Federal Reserve jacked up interest rates to combat inflation, older Treasuries and other securities became less desirable because the new ones yielded higher earnings under the higher interest rates. As a result, the older assets shed value on the open market.

Many experts argue that SVB failed to recalibrate its portfolio to new economic realities over time. Some Republicans claimed the failure to adjust was due to SVB being distracted by its "woke" agenda.

"A point that seems to be getting lost in the conversation around SVB is the failure of the San Francisco Fed to monitor the risks that were growing at Silicon Valley Bank," Sen. Bill Hagerty (R-TN) tweeted. "It is abundantly clear that SVB was terribly mismanaged. Their executives appeared to be more focused on diversity and ESG than managing their own risks."

"The WOKE agenda coming from SVB is in a large part to blame for their FAILURE. How much money did they WASTE on financing ESG/CRT CRAP? The insane left-wing agenda is BANKRUPTING our future. Go woke, GET BROKE," Rep. Ronny Jackson (R-TX) tweeted.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Republican presidential contenders Donald Trump, Nikki Haley, and Vivek Ramaswamy also chimed in on the SVB collapse. Trump blamed President Joe Biden's "anti-America policies," while Haley and Ramaswamy railed against possible bailouts.

Meanwhile, on the other side of the aisle, many progressive Democrats have faulted a rollback of the Dodd-Frank regulatory regime for small and midsized banks during the Trump administration in 2018. The Dodd-Frank Act was passed in response to the 2008 financial crisis, and the rollback garnered bipartisan support when it cleared both chambers of Congress.