First Citizens Close to Acquisition of SVB – Bloomberg

Rice silverFirst Citizens BankShares is a bankruptcy Silicon Valley bank (SVB) is in advanced stages of negotiations. This was confirmed by several people familiar with the matter.

First Citizens could reach a deal as early as Thursday to acquire FDIC-controlled SVB, said the people, who asked not to be identified because the information is private. be. No final decision has been made and talks could fall apart, they said.

A representative for the FDIC declined to comment. A representative for First Citizens was not immediately available for comment.

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Original title:First Citizens Is Said to Near Deal for Silicon Valley Bank (1)(excerpt)

(Update with additional information from the second paragraph onwards)