On Saturday, Bloomberg quoted people familiar with the matter as saying that First Citizens Bankers is evaluating an offer to acquire Silicon Valley Bank.

Edited by |Paul Mitchel

Economic section

03/20/2023 -2:40:32 AM

    The report said that at least one other institution is considering taking over the collapsed bank.

Neither Silicon Valley nor First Citizens Bankers yet responded to a Reuters request for comment outside business hours.

Reuters reported earlier this week that the Federal Deposit Insurance Corporation had asked banks interested in the acquisition of Silicon Valley and Signature to submit bids by March 17.

The bids come in the wake of the institution's control of Silicon Valley on the tenth of March and Signature last Sunday, as the collapse of the two medium-sized banks in the United States caused concern in global financial markets due to fears of spillover from the repercussions of the crisis.

This will be the corporation's second attempt to sell Silicon Valley, after an unsuccessful attempt a week ago. The sources told Reuters that the foundation has appointed investment bank Pepper Sandler to manage a new tender.