© Reuters. FILE PHOTO: The destroyed SVB (Silicon Valley Bank) logo and the U.S. flag are seen in this illustration taken on March 13, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(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 seriously considering the failed lender, according to the report.
SVB and First Citizens did not immediately respond to 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 (NASDAQ:) to submit offers before March 17.
The auctions followed the FDIC takeover of Silicon Valley Bank last Friday and Signature Bank on Sunday, as collapses at the two midsize US lenders rocked global financial markets on fears of contagion.
This will be the FDIC’s second attempt to sell SVBs after a failed effort a week ago. The FDIC had hired investment bank Piper Sandler Cos to conduct a new auction, the sources told Reuters.
