Economy

Report: First Citizens reportedly close to deal for Silicon Valley bank

March 27, 2023
Callie Robertson























Report: First Citizens reportedly close to deal for Silicon Valley bank







News

By Reuters

March 26, 2023 | 7:44 p.m

First Citizens BancShares is in advanced talks to acquire Silicon Valley Bank and is close to closing a deal, Bloomberg News reported on Sunday, according to people familiar with the matter.

The report said First Citizens could strike a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corporation (FDIC).

First Citizens and the FDIC did not immediately respond to Reuters requests for comment.






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