First Citizens in talks to acquire Silicon Valley Bank - Bloomberg News
Reuters
Published Mar 18, 2023 11:32PM ET
Updated Mar 18, 2023 11:55PM ET
(Reuters) -First Citizens BancShares Inc is evaluating an offer for Silicon Valley Bank, Bloomberg News reported on Saturday, citing people familiar with the matter.
At least one other suitor is making a serious consideration for the collapsed lender, the report said.
SVB and First Citizens did not immediately respond to Reuters' request for comment outside of 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 (NASDAQ:SBNY) to submit bids by March 17.
The auctions followed the FDIC taking over Silicon Valley Bank last Friday and Signature Bank on Sunday, as the collapses of the two U.S. mid-sized lenders whipsawed global financial markets over fears of a contagion.
This will be the FDIC's second attempt at selling SVB after a failed effort a week ago. The FDIC had retained investment bank Piper Sandler Cos to run a new auction, the sources told Reuters.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.