A computer-implemented method of placing input/output (I/O) pins of a circuit design for an integrated circuit (IC) can include selecting a bus from a plurality of buses, where the selected bus includes a plurality of I/O pins and is part of an interface, and, for each of a plurality of banks of the IC, determining a cost of assigning the selected bus to the bank according, at least in part, to a measure of proximity of the bank to another bank including a bus of the interface. The method can include selecting an available bank having a lowest cost, assigning at least one of the plurality of I/O pins of the selected bus not assigned to a bank of the IC to the selected bank, and outputting a circuit design including an association of I/O pin(s) of the selected bus to the selected bank.