Raleigh-based First Citizens Bank reportedly considering a bid for Silicon Valley Bank

The federal government is seeking a buyer for the collapsed Silicon Valley Bank, and a Triangle bank is reportedly interested. First Citizens Bank, which is headquartered in Raleigh, “is evaluating an offer” to purchase Silicon Valley Bank, according to Bloomberg, which cited unnamed sources “familiar with the matter.” News of a final sale could come within a week. On Monday, the Federal Deposit Insurance Corporation (FDIC) announced it had extended the bidding period for Silicon Valley Bridge Bank until Wednesday. “There has been substantial interest from multiple parties,” the FDIC...