I think the asset figure did not include unrealized losses on bonds that they intended to hold to maturity as banks are not required to deduct those from their total assets. As deposits flowed out of the bank, they sold some assets and realized those losses.

The FT reported a couple weeks ago that they had an unrealized loss of $15B in bonds: https://www.ft.com/content/0387e331-61b4-4848-9e50-04775b4c3...

I think we'll have a much better idea of the shortfall, if any, over the weekend as the FDIC tallies up the remaining assets and deposits.

AKA the inversion of long and short term treasury absolutely screwed them and JPow announcing additional rate hikes was the nail in the coffin.