Monday, March 20, 2023

First Citizens in talks to acquire Silicon Valley Bank – Usky News

First Citizens Bankshare Inc. is evaluating the proposal of Silicon Valley Bank Bloomberg News reported on Saturday, citing people familiar with the matter.
The report added that at least one other claimant is in serious consideration for the collapsed lender.
svb And First Citizens did not immediately respond to a Reuters request for comment outside business hours.
Reuters reported earlier this week that the Federal Deposit Insurance Corp had asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit bids by March 17.
The auctions followed FDIC takeovers of Silicon Valley Bank last Friday and Signature Bank on Sunday, as the collapse of the two US mid-sized lenders gripped global financial markets with fears of contagion.
This would be the FDIC’s second attempt to sell SVB after a failed attempt a week earlier. FDIC retained investment bank piper sandler Sources told Reuters the company would hold a new auction.


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