First Citizens, Buyer of Collapsed SVB, Weighs Another Target

First Citizens BancShares Inc. is looking for deal targets that would help it quickly vault over a key $250 billion asset threshold, according to people familiar with the discussions.

The bank has asked advisers to draw up a list of potential transactions the firm could pursue as it seeks to gain more scale to better deal with regulatory and compliance costs, said the people who asked not to be identified citing private information. First Citizens has considered pursuing a deal for Cleveland, Ohio-based KeyCorp as part of the exercise, said some of the people.

The Raleigh, North Carolina-based bank has ...