#United States #San Diego #Silicon Valley Bank #First Citizens Bank

First Citizens Bank Expands Its Footprint in San Diego

In a strategic move to bolster its presence in Southern California, First Citizens Bank & Trust Company, a subsidiary of First Citizens BancShares, Inc., has announced the acquisition of two office buildings located at 12481 and 12531 High Bluff Drive in San Diego. This significant purchase reflects the bank's commitment to its clients and the communities it serves in the region.

A Growing Presence in Southern California

First Citizens Bank has a rich legacy in the San Diego area, with a history spanning over 30 years through its Silicon Valley Bank division. Today, the bank employs more than 100 associates in San Diego and boasts a workforce of over 1,000 throughout Southern California. The newly acquired properties, totaling 164,943 square feet, are set to include office space that will primarily serve First Citizens' Commercial Bank associates and clients as they transition the Silicon Valley Bank division to First Citizens Innovation Banking and First Citizens Fund Banking by 2029.

Peter Bristow, President of First Citizens Bank, expressed his excitement about this expansion: "San Diego is an important region for our business, and this investment reflects our long-term commitment to the market, our clients, and these communities. We’re excited to expand our presence in San Diego and continue to build strong, meaningful relationships throughout the region."

Financial Services Tailored for Diverse Industries

First Citizens Commercial Bank is dedicated to providing a wide range of financial and advisory services, focusing on lending, leasing, capital markets, and asset management. Their offerings are tailored to meet the needs of commercial and middle-market companies across various industries, including energy, healthcare, technology, media and telecommunications, maritime, and aerospace and defense. This strategic investment positions the bank to better serve these industries and their growing demands.

Building a Legacy of Strength and Stability

Headquartered in Raleigh, North Carolina, First Citizens Bank is committed to helping individuals and businesses build enduring financial strength. With a legacy of reliability and long-term thinking that has spanned generations, First Citizens offers a comprehensive array of banking services through its nationwide branches and offices. The bank aims to serve its client base with excellence, delivering industry-leading lending and financial services from coast to coast.

As a top 20 financial institution in the U.S., First Citizens BancShares, Inc. has over $225 billion in assets and is a proud member of the Fortune 500™. The acquisition of the San Diego office buildings underscores not only the bank's growth ambitions but also its deep-rooted understanding of the local markets and its willingness to invest significantly in them.

Looking Ahead

As First Citizens Bank embarks on this new chapter in San Diego, it also plans to continue enhancing its commercial solutions, aligning its brand names more closely in Q4 2026. The added facilities will support the broader strategy of integrating services that can better serve existing and prospective clients.

This proactive approach showcases First Citizens Bank's vision for sustaining growth and its long-lasting commitment to establishing meaningful partnerships within Southern California's commercial landscape.

In summary, the acquisition of the San Diego office buildings not only marks a crucial milestone for First Citizens Bank but also highlights the bank's dedication to fostering strong ties within the community and adapting to the ever-evolving banking landscape. As the bank moves forward, it remains focused on building the future, one relationship at a time.