InfoQuest is the latest acquisition by Valley National, following its previous purchase of Silicon Valley Bank.

Image: Reuters

Bloomberg News reported that Valley National Bancorp, owner of Valley Bank, had offered to buy Silicon Valley Bank. Another Lay Bank (SVB)

News reports indicate that Valley Bank has submitted the proposal to the Federal Deposit Insurance Corporation (FDIC).

However, this news report has not been confirmed by any party.

Such movements have After Reuters reported, citing earlier sources, First Citizens BankShares, the owner of First Citizens Bank, has made an offer to buy the business. of Silicon Valley Bank as well

The FDIC has been trying to sell Silicon Valley Bank’s private banking business along with SVB itself over the past two weeks after SVB was taken over by the FDIC on Friday, March 10. So far it has not been successful in selling the two businesses, and the FDIC has decided to make an offer with the option of buying the bank or the bank itself. No need to buy together And accepting offers until last Friday (March 24), the winner is expected to be known as early as this weekend.

By InfoQuest News Agency (26 Mar. ’23)

Tags: SVB, Silicon Valley Bank, acquisition, Valley National

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