Banks are preparing their bids for City National Bank of Florida and are expected to make offers in the next few days, according to a published report.

TD Bank (TD), BB&T (BBT), PNC (PNC), Banco Popular (POP) and Banco Sabadell (SAB) are all expected to bid on the $4.8 billion-asset bank, Reuters reported Wednesday, citing unidentified sources. Goldman Sachs is City National's investment bank and has been asking for between $900 million and $1 billion, though sources say bids are more likely to be in the range of $600 to $800 million, the report says.

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