First Citizens Bank Purchases Office Buildings in San Diego

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First Citizens Bank (Nasdaq: FCNCA) has purchased two office buildings at 12481 and 12531 High Bluff Drive in San Diego to support its expanding Southern California presence. The properties total 164,943 square feet, with partial occupancy planned for 2029.

The space will house Commercial Bank associates and clients, including teams from the Silicon Valley Bank division, which will be rebranded as First Citizens Innovation Banking and First Citizens Fund Banking. According to First Citizens Bank, it has more than 100 associates in San Diego and over 1,000 across Southern California.

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RALEIGH, N.C., July 30, 2026 /PRNewswire/ -- First-Citizens Bank & Trust Company ("First Citizens Bank"), the wholly owned banking subsidiary of First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA), today announced the purchase of two office buildings in San Diego in support of the company's growing presence in the Southern California region. Consisting of 12481 and 12531 High Bluff Drive, First Citizens plans to occupy a portion of the space in 2029.

The buildings, totaling 164,943 square feet, will include an office designed to support First Citizens' Commercial Bank associates and clients, including from its Silicon Valley Bank division, which will soon be rebranded as First Citizens Innovation Banking and First Citizens Fund Banking. First Citizens' Silicon Valley Bank division has had a presence in the San Diego market for more than 30 years and today First Citizens Bank has more than 100 associates in San Diego with over 1,000 total associates across Southern California.

"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," said Peter Bristow, First Citizens Bank President. "We're excited to expand our presence in San Diego and continue to build strong, meaningful relationships throughout the region."

First Citizens Commercial Bank provides a range of lending, leasing, capital markets, asset management, and other financial and advisory services, primarily tailored to commercial and middle market companies in a wide range of industries, including energy, healthcare, technology media and telecommunications, maritime, and aerospace and defense.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

Media Contact
Katie Ellis
Katie.Ellis@firstcitizens.com

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SOURCE First Citizens Bank

FAQ

What did First Citizens Bank (FCNCA) announce about new office buildings in San Diego?

First Citizens Bank announced it purchased two office buildings on High Bluff Drive in San Diego. According to First Citizens Bank, the 164,943-square-foot properties will support its Commercial Bank and the Silicon Valley Bank division, with initial occupancy planned for 2029.

How large are the San Diego office properties recently purchased by First Citizens Bank (FCNCA)?

The purchased San Diego office buildings total 164,943 square feet of space. According to First Citizens Bank, these properties at 12481 and 12531 High Bluff Drive will accommodate Commercial Bank associates and clients, including those from its Silicon Valley Bank division in Southern California.

When will First Citizens Bank (FCNCA) begin occupying its new San Diego office buildings?

First Citizens Bank plans to occupy a portion of the new San Diego buildings in 2029. According to First Citizens Bank, the space will support its Commercial Bank and the Silicon Valley Bank division as it strengthens its regional presence in Southern California.

How does the San Diego property purchase support First Citizens Bank’s Silicon Valley Bank division?

The new buildings will include offices for associates and clients of the Silicon Valley Bank division. According to First Citizens Bank, this division will be rebranded as First Citizens Innovation Banking and First Citizens Fund Banking while continuing its long-standing San Diego market presence.

What is First Citizens Bank’s presence in Southern California following the San Diego purchase (FCNCA)?

First Citizens Bank reports having more than 100 associates in San Diego and over 1,000 across Southern California. According to First Citizens Bank, the new High Bluff Drive properties reinforce its long-term commitment to clients and communities in the San Diego region.