First Citizens persists in pursuit of Silicon Valley Bank despite banking turmoil.
TL;DR Summary
First Citizens BancShares has submitted an offer to buy all of failed Silicon Valley Bank, according to a person familiar with the matter. The FDIC has been trying to find a buyer for SVB since it took it into receivership on March 10. First Citizens is a 125-year-old bank that operates in over 20 different states. The FDIC said it had substantial interest from multiple parties seeking to buy SVB, adding that it is still accepting bids from qualified financial institutions for the whole company.
- First Citizens submits offer for all of failed SVB: Source Axios
- FDIC Still Seeking Buyer For Silicon Valley Bank The Wall Street Journal
- PR-22-2023 3/20/2023 FDIC
- First Citizens (FCNCA) Said to Continue Pursuit of Silicon Valley Bank Bloomberg
- Amid banking turmoil, filings reveal top executives sold stock beforehand WFAA
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