FDIC Said to Move Toward Breakup Plan for Silicon Valley Bank

US regulators are moving toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company, according to people familiar with the matter.

Watch: Even though most regional bank shares rallied Monday, First Republic Bank is having trouble.

Source: Bloomberg

The Federal Deposit Insurance Corp. is now seeking to sell the failed bank in at least two parts, said the people, who asked to not be identified because the matter isn’t public. A representative for the FDIC didn’t immediately respond to requests for comment.

Bids are due Friday for the so-called “bridge bank” that the FDIC set up to take receivership of SVB’s assets and liabilities, the people ...