The Federal Deposit Insurance Corp. extended — until 8 p.m. Eastern time Friday — the deadline for bidders to make offers for Silicon Valley Bridge Bank, the regulator said Monday.

The FDIC split the auction process, as well — allowing bidders to make separate offers on Silicon Valley Private Bank. The private-banking unit is a vestige of Boston Private, which SVB acquired for $900 million in 2021. [Update: The regulator extended until Friday a deadline for bids on the private bank that was originally set for Wednesday, according to Bloomberg and Reuters.]

In its statement Monday, the FDIC said it has seen “substantial interest from multiple parties.”

Raleigh, North Carolina-based First Citizens Bank was evaluating an offer for the bank as of Saturday, according to Bloomberg.

Investment behemoths Apollo Global Management and Blackstone had shown interest in SVB's credit business, The New York Times reported last week.

The FDIC is in the midst of its second attempt to field offers for the failed bank, its assets, deposits and various parts. But the process has been anything but smooth.

Regulators’ attempt to find a buyer between SVB’s closure March 10 and the opening of business March 13 sputtered amid a dearth of bids for the whole unit. Both PNC and JPMorgan Chase had reportedly considered but decided against acquiring the bank during the first round.

Private-equity firms, during the first round, were eyeing a loan book worth $74 billion. SVB executives were working to revamp a wine-lending portfolio to prepare for a potential sale.  

Infighting among regulators also delayed the first bidding round, Bloomberg reported last week.

Qualified, insured banks, either alone or in alliance with nonbank partners, will be able to submit bids for the whole bank bids or for deposits or assets, the FDIC said Monday. Bank and nonbank financial firms can bid on asset portfolios, the regulator said.