Valley National, First Citizens bidding for Silicon Valley Bank- Bloomberg News

By - Reuters

(Reuters) - Valley National Bancorp and First Citizens BancShares Inc. are both vying to buy Silicon Valley Bank, Bloomberg News reported on Saturday.

The two regional banks have submitted separate bids to the Federal Deposit Insurance Corp (FDIC), the report said, citing people familiar with the matter.

(Reporting by Akanksha Khushi in Bengaluru, editing by Deepa Babington)