First Citizens Bank Acquires Office Buildings in San Diego
First Citizens Bank & Trust Company, the banking subsidiary of First Citizens BancShares (NASDAQ: FCNCA), has acquired two office buildings located at 12481 and 12531 High Bluff Drive in San Diego. The purchase supports its expanding presence in Southern California, with plans to occupy part of the space by 2029. The properties total 164,943 square feet and will house First Citizens' Commercial Bank operations, including those from its Silicon Valley Bank division, which is set to be rebranded as Innovation Banking. The bank has maintained a presence in San Diego for over three decades with more than 100 associates locally. Peter Bristow, President of First Citizens Bank, emphasized the strategic importance of San Diego and expressed excitement about strengthening relationships within the region through this investment.
Tickers: $FCNCA
Topics: bank expansion commercial real estate Southern California