First Citizens Bank & Trust Co. recently purchased a pair of office buildings in Carmel Valley in support of the company's growing presence in the Southern California region.

First Citizens Bank plans to occupy a portion of the space at 12481 and 12531 High Bluff Drive in 2029.

The buildings, which total a combined 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 1,000-plus 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, president of First Citizens Bank. "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, health care, technology media and telecommunications, maritime, and aerospace and defense.

First Citizens Bank & Trust Co. is a wholly owned banking subsidiary of First Citizens BancShares, Inc.