First Citizens Bank Purchases Office Building in San Francisco

First Citizens Bank, the wholly owned banking subsidiary of First Citizens BancShares, purchased a downtown San Francisco building in support of the company’s large and growing client base in the region. First Citizens will renovate the office space with an expected move-in date in 2027. Once complete, First Citizens Bank expects to occupy a portion of the building and will also seek tenants.

“San Francisco is a key market within the innovation economy, and this latest acquisition is evidence of our ongoing commitment to being a part of the local ecosystem,” Marc Cadieux, president of Silicon Valley Bank, a division of First Citizens Bank, said. “We’re thrilled to announce this investment that underscores First Citizens’ long-term plans to grow in the Bay Area.”