SAN FRANCISCO, March 19 (BNA): First Citizens BancShares is evaluating an offer for a Silicon Valley bank, Bloomberg News reports, citing people familiar with the matter.
Reuters reports that at least one other applicant is seriously considering a failing lender
SVB and First Citizens did not immediately respond to a Reuters request for comment outside of business hours.
Reuters reported earlier this week that Federal Deposit Insurance Corp. had asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit offers by March 17.
The auctions came on the heels of the FDIC’s acquisitions of Silicon Valley Bank last Friday and Signature Bank on Sunday, as the collapse of midsize lenders in the United States rattled global financial markets on fears of a contagion.
This will be the FDIC’s second attempt to sell SVB after a failed attempt a week ago. The sources told Reuters that the FDIC has retained investment banker Piper Sandler Coss to run the new auction.
WWA