SJB National Bank, owned by the Related Cos.’ Stephen Ross, Jeff Blau and Bruce Beal Jr., is trying to raise about $1 billion that may be used to buy a lender seized by US regulators, people familiar with the plan said.

SJB is working with advisers including Deutsche Bank AG to raise capital in a private placement, according to the people, who declined to be identified because the plans are private. SJB won approval to bid on failing institutions from the FDIC, according to an Oct. 26 letter from the regulator obtained by Bloomberg News.

The FDIC had 416 companies on its list of “problem” lenders as of June 30, and 106 US banks have failed so far this year, the most since 1992. The executives at New York-based Related received preliminary approval as individuals to establish SJB earlier this year, according to a notice on the US Office of the Comptroller of the Currency’s Web site. Related, the closely held developer of New York’s Time Warner Center, won’t have any stake.

“That would be a nice war chest for them to have,” said Chip MacDonald, a partner with Jones Day in Atlanta who specializes in deals among lenders. “With the approval from the FDIC they could make some really meaningful acquisitions.”

Representatives of Deutsche Bank, SJB and Related declined to comment.