A U.S. flag flies outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023.
Brian Snyder | Reuters
First Citizens BancShares was in advanced talks to acquire Silicon Valley Bank and is close to making a deal, Bloomberg reported on Sunday, citing people familiar with the matter.
First Citizens could reach a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corporation (FDIC), the report said.
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First Citizens and FDIC did not immediately respond to Reuters requests for comment.
Read the full Bloomberg report here.
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