Finance

SVB Hunts for a Buyer After Tense, Dragged-Out FDIC Sale Failed

  • Infighting between FDIC’s Gruenberg, regulators marred efforts
  • Big banks cut out of process, burned by memories of 2008
Silicon Valley Bank Hunts for a Buyer
Lock
This article is for subscribers only.

The effort to wind down Silicon Valley Bank was marred by an unmotivated seller, infighting between regulators and, ultimately, a failed auction.

It’s left a mess that government officials, banking agencies and potential bidders are still trying to work out as they also navigate a deal for Signature Bank and try to bolster First Republic Bank.