First Citizens mulls to acquire Silicon Valley Bank

First Citizens BancShares Inc (FCNCA.O) is evaluating an offer for Silicon Valley Bank (SIVB.O), according Bloomberg News reported on Saturday.

The Federal Deposit Insurance Corp. will decide on Sunday whether to pursue a full sale or breakup of Silicon Valley Bank.

SVB and First Citizens did not immediately respond to Reuters’ request for comment outside of business hours.

Reuters reported earlier this week that the Federal Deposit Insurance Corp had asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit bids by March 17.