The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.

The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.

The privately held lender, which has 68 branches covering 45 states, will help to expand Guild's footprint into reverse mortgage lending.

Despite ending 2022 in the red, the lender and servicer saw full-year profits exceed 2021's total.

The announcement came as a Federal Trade Commission suit to halt the deal became more likely.

The move comes nine months after Homebridge ended a planned merger last June with fintech Figure Technologies over delays in closing among other factors.

A legal filing could come as soon as Thursday, sources close to the matter claimed.

Brett Dillenberg oversees six branches previously under the umbrella of LendUS that were acquired by the Ohio-based lender last year.

The price tag for the Colorado-based lender was a "low seven-figure number," its CEO said.

Financial terms were undisclosed for the most recent acquisition.

But full year net income was more than double that for 2021, helped by an exchange of Dun & Bradstreet stock for the remaining equity in Optimal Blue.

As many had predicted, the federal regulator will be seeking to halt the acquisition by Intercontinental Exchange, according to a report from Politico.

Companies like Guild Mortgage, Union Home Mortgage, American Pacific Mortgage and Go Mortgage have been expanding their footprint during a time of great upheaval.

The deal would put housing data provided by the acquiring intelligence provider in front of lenders early in the mortgage borrowing process.

As one of the latest examples of consolidation in the industry, the acquisition is notable in that it aims to preserve the availability of lending resources for both parent companies' customers.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

Long-time company veteran Joe Tyrrell is leaving and will be replaced on March 1 by Timothy Bowler, the president of ICE Benchmark Administration.

The company reportedly hired Truist to broker the loan origination system, which observers have been saying all along would have to happen.

Executives at the company said building special-servicing capacity will help the company brace itself for a potential change in the credit cycle.

The publicly traded acquirer is looking to grow market share by selectively purchasing companies to beef up its influence in certain regions.