By Anirban Sen and David French
NEW YORK (Reuters) – Fifth Third Bancorp was one the banks that submitted final bids for First Republic Bank on Sunday before it was sold to JPMorgan Chase & Co, people familiar with the matter said.
PNC Financial Services Group and Citizens Financial Group Inc were the other final-round bidders for First Republic, Reuters has previously reported.
Earlier on Monday, JPMorgan emerged as the winner of a weekend auction of First Republic Bank, in a deal that followed the troubled lender being taken over by the Federal Deposit Insurance Corporation (FDIC).
The terms of Fifth Third’s offer could not be learned. The sources requested anonymity because the matter is confidential. Fifth Third and the FDIC did not immediately respond to a request for comment.
(Reporting by Anirban Sen and David French in New York; Additional reporting by Saeed Azhar in New York and Peter Schroeder in Washington, D.C.; Editing by Greg Roumeliotis)
