. taking action. today president biden is expected to address the second-largest bank failure in u.s. history, as federal regulators step in acassuring people they will have access to their money. deadly accident. at least eight people dead and several missing after two boats crashed off the coast of san diego in what's believed to be a human smuggling operation. more rain is headed to california for already beleaguered areas.

a startling message from one official to people who don't want to evacuate harsh rebuke former vice president mike pence slamming former president trump for the attack on the capitol. and the oscar goes to -- everything everywhere all at once was the movie to beat. the academy awards celebrate the best and brightest of hollywood. we have the highlights it's monday, march 13. "early today" starts right now >> good morning, i'm phillip mena >> i'm frances rivera. we begin with breaking news. federal regulators are stepping in, announcing that the depositors of the failed silicon valley bank will have access to all their money at the beginning of business today. the bank, which was a leading lender of the tech industry was placed under fdic control

friday u.s. regulators also closed the crypto-focussed signature bank in new york. they say all depositors there will be made whole there as well president biden says he will deliver a message about maintaining a resilient banking system he said he is firmly committed to holding those responsible accountable. >> reporter: the federal government working to calm fears, announcing they will back all deposits at silicon valley bank after their historic fall they closed signature bank in new york city, adding that any losses by customers will be covered. long lines could be seen formed outside first republic bank this weekend, the bank trying to assure customers in a statement saying we want to enforce the safety and security, adding that our capital remains strong the news comes after janet yellen indicated there would be no government bailout following the collapse of 2008

>> the reforms that have been put in place means that we're not going to do that again >> reporter: silicon valley bank serves more than half of the once-booming tech scene, but small business owners have their money tied up, too >> this is everything we have saved. >> reporter: amanda babcock says relief can't come soon enough. this is your livelihood. >> it is, it is. it affects us putting food on our tables next week >> reporter: growing outrage over svb management. cnbc reporting bank employees received their annual bonuses just hours before the bank was seized by regulators cnbc learned the fdic held an auction to buy svb, still, customers worry about their financial future >> we have went to two other banks and started withdrawing the funds. >> and our thanks to george for that report. after his remarks on the

banking system, president biden will head to san diego where he is set to meet with british prime minister rishi sunak and australian prime minister. they will discuss countering china's growing military influence and nuclear-powered submarines to australia. lester holt has an interview with rishi sunak in his first american interview parts of it will air on the "today" show and on nbc news with lester holt eight people are dead after two boats capsized they believe this was part of a human smuggling operation. jesse kirsch has the story >> reporter: at least eight people are dead in san diego and possibly more than a dozen are unaccounted for after authorities say a pair of suspected smuggling boats capsized some of the victims were mexican according to the consulate >> this is one of the worst

maritime smuggling tragedies that i can think of in california certainly here in the city of san diego. >> reporter: officials say a spanish speaker called 911 >> that person reported that there were approximately 15 people and eight people on two vessels that had overturned. >> reporter: officials say high tide made it harder for lifeguards to reach the victims, with low visibility limiting overnight searches by air. first responders discovering two overturned boats, finding adult bodies on the beach and in the water. >> there's long and short holes. if you step into those holes those rip currents will pull you along the shore and back out to sea. >> reporter: with conditions improving today the search expanding. >> sadly this tragedy continues and has been happening for quite some time. >> reporter: officials did not say where the boats came from but suspect it involves human

smuggling. 23 people have been killed at sea off california since 2021 alone. >> this is not necessarily people trying to find a better life they are often labor trafficked and sex trafficked >> reporter: jesse kirsch, nbc news former president trump is heading to iowa today as he looks to secure his hold over republican primary voters. trump's visit comes after a blistering critique from his vice president mike pence. pence called out his former boss at a dinner on saturday night saying president trump was wrong. i had no right to overturn the election, he said. his reckless words endangered my family and everyone at the capitol that day and i know history had hold donald trump accountable. the event did not allow any cameras. michael cohen is set to testify today before a new york grand jury investigating former president trump. cohen, a key witness in the investigation, has met with prosecutors several times, including a seven-hour meeting

last friday. this comes as the former president was invited by prosecutors last thursday to testify before the grand jury in their investigation into alleged hush money payments made in 2016 mr. trump has denied any wrongdoing and suggested that the investigation is politically motivated. in california, there were thousands forced to evacuate this weekend after a levee was breached in monterey county. the sheriff spoke it our steve patterson, urging people to follow those evacuation orders >> i got to tell you i don't want to be at your funeral. i don't want to read about you in the papers, about the loss of life >> meanwhile in the north residents there are dealing with dangerous snow tony schenn has the latest >> firefighters are going through neighborhoods in crestline, in places where roads are still hard to navigate by

vehicle. sometimes dealing with steep hillsides covered in feet of snow they're here to check on natural gas meters at homes that have been buried by the recent powerful storms. >> the weight of the snow, tass comes down and starts to freeze will drop on the gas meters, causing them to back up and cause gas leaks. we've had a couple fires in the area due to that >> reporter: so firefighters are clearing away the meters and checking for leaks other first responders wearing snowshoes are giving out firewood and food to residents who are still trapped in their homes. >> you can't see the house so they painted the addresses on the though bank. you can see 24100. >> reporter: firefighters are here to help dig laura yueiller out. her home is surrounded by about six feet of snow >> trying to step in footprints if you can >> reporter: getting to her home is difficult, because you sink knee-deep with almost every

step this is what laurie has been dealing with for about two weeks. >> it's kind of like living in a jumanji movie. every day there's a new surprise >> reporter: not only has the snow blanketed her property the power has gone out at other times. now they're dealing with another issue. rain too much rain can also lead to other big problems, especially for a roof that still has a lot of snow on it. >> may have what they call ice damming, which means the snow is freezing causing the weight to back up question cause a slide or collapse. >> reporter: the rain could also cause an avalanche or a rock slide. like this one on highway 18. others are worried about the temperature dropping too low and turning roads into ice rinks >> in case we get black ice on the road >> thanks to tony for bringing us that report let's turn to michelle

grossmann, who is tracking another round of severe weather. >> unfortunately, another atmospheric river setting up today, really taking hold tomorrow and on the east coast we're watch ago developing nor'easter. that will be the biggest impact. for this morning, 22 million americans waking up to winter alerts from the gulf coast to the great lakes into portions of the east coast as well we are watching that nor'easter as we go throughout this monday. we're looking at heavy rain and snow spreading across the northeast. we'll see a cold rain for the i-95 corridor to the big cities of new york. philadelphia down to d.c. we'll see the wind really blowing on tuesday. this is tomorrow also, a heavy snow band setting up it's going to be that wet, heavy snow really hard to shovel. be careful with that tomorrow. and winds could gust up to 60 at we'll se

s of the southern plains, oklahoma city 48 degrees with some clouds. some sunshine in dallas at 59. >> michelle, thank you you know, our body clocks may still be adjusting but this may help. denny's is giving away free coffee for daylight savings time they will issue members a digital coupon the deal is valid for in-store dining only dunkin' is also offering an order on grubhub this week. tensions rise overseas south korea and the u.s. begin military drills.

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nyquil severe. leading the news, the united states military has begun joint military exercises with south korean forces. the drills are expected to last for 11 days and mark the biggest in five years. they will involve live artillery and simulations of war scenarios. kim jong un's regime has already responded. the north korean government released these photos through state media. they say it shows the test of two strategic cruise missiles fired from a sub marine. south korea's military confirmed at least one missile was launched today marks ten years since pope francis was elected the 86-year-old pontiff will mark the day by celebrating mass

with a group of cardinals. he succeeded pope benedict xvi he recently passed away at the age of 95. there is no stopping mikaela shiffrin on saturday, which happened to be exactly 12 years since her first race on the alpine cup, she won her 87th career victory. this broke an alpine world record that had been held by over 30 years by swedish skier ingamar stenmark her accolades include two olympic gold medals and seven world titles after nearly five months of madness in college basketball the men's ncaa tournament is set. let the real madness begin. >> big ten champion purdue near the top seed

and marquette in the west. kansas has a battle with howard, and alabama is the number one overall seed for the first time in school history. in the midwest, two schools from the lonestar state occupy the top two seeds. the action will tip off tomorrow with the first four in dayton, ohio the winners win their spot into the round of 64. we have women's south carolina gamecocks look to repeat as national champions lloostill to come, it is hoywd's biggest night. the big winners and the most-talked-about moments of the oscars see cousin jimmy over there? his girlfriend just caught the bouquet so... he might need a little more help saving. for that engagement ring... the groom's parents. you think they're looking at photos of their handsome boy? they're not! she just saw how much they spent on ballroom dance classes... won't be needing those anymore.

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and the oscar goes to "everything everywhere all at once." [cheers and applause >> the multi-verse converged on the dolby theater in hollywood

on sunday night as "everything everywhere all at once" swept the oscars seemingly winning every award all at once. it was presented as best picture, one of seven prizes that the dimension-jumping epic took hope. daniel kwan and daniel scheinert was the duo who won. >> michelle yeoh made history by becoming the first asian woman to win best supp actress

>> my journey started on a boat. i spent a year in a refugee camp and somehow i ended up here on hollywood's biggest stage. they say stories like this only happen in the movies i cannot believe it's happening to me. this, this is the american dream! >> the night also saw the culmination of a years long comeback for brendan fraser winning for his portrayal of charlie in the film "the whale." "all quiet on the western front" wo front" "elvis" and the "fablemans" went home empty handed. there was so much to digest.

but kudos to all of them for winning. >> i'm going to associate the oscars with hot dog fingers. >> spoiler alert >> it's way out of context michelle's got a look at our monday forecast ahead. >> and still ahead, teamwork makes the dream work how this team rallied around an injured player helping her reach her home base. . five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist about cosentyx®. experience the feel of a dentist's clean at home. with oral-b. round cleans better by surrounding each tooth. so clean, you'll feel like you just left the dentist. ♪ what you waiting for? ♪ oral-b. brush like a pro.

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try nervivenerve relief. we want to end today with a bit of good news our jose diaz balart has stories of some average americans doing extraordinary things >> reporter: in cincinnati, ohio, there were smiles and laughter >> we finished >> reporter: thanks to vernon jackson who gives haircuts for free to children with special needs. >> when he walked in, he gives them a hug and he knows to sit in the chair he knows it's a safe place it's just really amazing what he's doing for our community and it's bigger than anyone ever would realize.

>> reporter: in webster, new york, there were tears >> people here don't even know >> reporter: when an mcdonald's supervisor told employee jessica craig the community had raised enough money to get her a new bike after hers was stolen. the community came together in kimberly, alabama, as well after school custodian lost her truck due to a fire, the school staff and local church got together to buy her a new car. so many people were helping out their neighbors this week. when jason boudreaux's debit card didn't work at the grocery store, fellow customer kevin jones stepped in and paid the bill jason tracked kevin down, paid him back and invited him to his

weekly family dinner >> so i did this, i got you. and the motto, my own self-taught motto, if i got it, you got it >> reporter: but the moment that really knocked it out of the park was this. a softball matchup between iowa' iowa's grand view. it falls between first and second base. the rules state that her teammates aren't allowed to help her, but watch what happens. members of the other team pick moses up, carry her around the bases to get that grand slam and secure a win for her team. southeastern players told me that moment was about so much more than the game do you ever, like, think twice about, well, the rules are the rules? >> not at all. at that point, like competition,

win, lose, like it did not matter to us >> we saw someone in need and stepped in because we flew it wknew it wash thing to do. >> in our upside down worl

stemming the fallout this morning markets are bracing for what president biden will say when he addresses the second-largest bank failure in u.s. history as regulators begin to take action to prevent a wider crisis dangerous weather. the rescues around california after an atmospheric river caused disastrous flooding and another wolallop is on the way. travelers urged to avoid mexico march madness is here. the nc