First Citizens Bancshares FCNCA on Sunday offered to buy all of Silicon Valley Bank, Bloomberg reported. The bank, which has acquired 20 failed banks since 2009, may also participate in auctions taking place this week for parts of the bank by the Federal Deposit Insurance Corp. (FDIC), said the report, which cited people familiar with the situation. A First Citizens spokesperson declined to comment to Bloomberg and did not immediately reply to an email from MarketWatch. First Citizens stock is up 9.8% as bank stocks gained ground. The stock is down by 26.3% so far in 2023, compared to a 2.7% gain by the S&P 500 SPX during the same period.
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