First Citizens Continues Pursuit of Silicon Valley Bank
- Lenders shares rise up to 13% on day after bid for failed SVB
- First Citizens has bought over 20 failed banks since 2009
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First Citizens BancShares Inc., one of the biggest buyers of failed US lenders, is still hoping to strike a deal for all of Silicon Valley Bank, according to people familiar with the matter.
The Raleigh, North Carolina-based lender submitted an offer on Sunday to buy all of the failed SVB, the people said. It may also participate in the auctions this week for the two parts of company, said one of the people, who asked to not be identified because the matter isn’t public.