First Citizens said to be near deal for Silicon Valley Bank -Bloomberg News By Reuters

(Reuters) – First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank and close to making a deal, Bloomberg News 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 Corp (FDIC), the report said.

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