Valley National, First Citizens to bid on Silicon Valley, Bloomberg says

Valley National Bancorp (VLY) and First Citizens BancShares (FCNCA) are both vying for Silicon Valley Bank after its collapse earlier this month, Bloomberg’s Ed Hammond and Matthew Monks report, citing people familiar with the matter. The two regional banks submitted separate bids for Silicon Valley Bank to the Federal Deposit Insurance Corp. before a Friday night deadline, said the people. Reference Link