It used to be the go-to bank for Silicon Valley. Now it’s on the block.
But rather than an overheated auction, regulators looking to sell off what remains of Silicon Valley Bridge Bank have thus far gotten a cool reception. Last weekend, the FDIC held an auction of SVB and was expected to announce a winning bidder on March 13. But a single buyer didn't materialize, with large banks like JPMorgan Chase and Bank of America apparently passing.
