FIRSTSUN CAPITAL BANCORP

Listed Company

FSUNCIK 0001709442NasdaqEmerging GrowthNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$97.94M

Total Assets

$8.49B

Equity

$1.15B

Shares Out

27.92M

Op. Cash Flow

$111.48M

Business

FIRSTSUN CAPITAL BANCORP is a financial holding company providing banking, lending, treasury, wealth management and online banking services through its subsidiaries. Main products include commercial and consumer loans, residential and commercial mortgages, mortgage servicing, deposit accounts, treasury management and trust and investment advisory services. Key operating subsidiaries and reportable segments are Sunflower Bank (Banking) and Mortgage Operations, with Logia Portfolio Management offering discretionary investment management and FEIF Capital Partners positioned as an investment manager. Distribution is via relationship-focused branches, treasury and digital channels across Texas, Kansas, Colorado, New Mexico, Arizona, California and Washington, with a mortgage platform operating nationally.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Taxable	408	404	367	229	138
Tax exempt	18	18	19	19	22
Taxable	17	18	17	13	8
Tax exempt	32,000	14,000	18,000	9,000	15,000
Other interest income	25	19	11	6	2
Total interest income	468	460	414	267	169
Interest expense on deposits	145	151	101	13	9
Interest expense on securities sold under agreements to repurchase	150,000	188,000	225,000	119,000	59,000
Interest expense on other borrowed funds	5	12	19	12	6
Total interest expense	150	163	120	25	—
Net interest income	317	297	293	242	155
Provision for credit losses	25	28	18	18	—
Net interest income after credit loss expense	293	269	275	224	152
Deposit account service fees	8	9	10	—	—
Treasury management service fees	17	15	12	9	—
Credit and debit card fees	11	11	12	11	10
Trust and investment advisory fees	6	6	6	7	8
Mortgage banking services, net	47	39	31	46	86
Other noninterest income	12	10	9	7	7
Total noninterest income	102	90	79	90	124
Salary and employee benefits	172	155	133	134	152
Occupancy, equipment and software	38	36	33	31	28
Amortization and impairment of intangible assets	2	4	5	4	—
Merger related expenses	3	13	0	19	3
Other noninterest expenses	57	56	51	50	41
Total noninterest expense	272	264	223	239	225
Income before income taxes	123	95	131	74	52
Provision for income taxes	25	19	28	15	9
Net income	98	76	104	59	43
Net unrealized gain on securities available-for-sale	12	4	976,000	−46	−7
Other comprehensive income	12	4	976,000	−46	−7
Comprehensive income	110	80	105	14	36
Net income available to common stockholders, basic (in shares)	98	76	104	59	43
Net income available to common stockholders, diluted (in shares)	98	76	104	59	43
Basic (in dollars per share)	3.52	2.76	4.15	2.55	2.36
Diluted (in dollars per share)	3.47	2.69	4.08	2.48	2.3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	653	616	479	344	668
Securities available-for-sale, at fair value	469	469	517	537	573
Securities held-to-maturity, fair value of $29,446 and $29,563, respectively	34	35	37	39	18
Loans held-for-sale, at fair value	101	62	54	57	104
Loans, net of allowance for credit losses of $85,016 and $88,221, respectively	6,588	6,288	6,187	5,846	3,990
Mortgage servicing rights, at fair value	87	84	77	74	47
Premises and equipment, net	82	82	85	88	53
Other real estate owned and foreclosed assets, net	12	5	4	6	5
Bank-owned life insurance	83	81	80	78	55
Restricted equity securities	25	29	38	50	16
Goodwill	93	93	93	93	33
Core deposits and other intangible assets, net	5	7	11	16	8
Accrued interest receivable	32	32	37	29	15
Deferred tax assets, net	35	41	46	48	23
Prepaid expenses and other assets	188	171	134	125	58
Total assets	8,485	8,097	7,880	7,430	5,667
Noninterest-bearing accounts	1,651	1,541	1,531	1,820	1,566
Interest-bearing accounts	5,456	5,131	4,844	3,945	3,289
Total deposits	7,107	6,672	6,374	5,765	4,855
Securities sold under agreements to repurchase	11	15	25	37	92
Federal Home Loan Bank advances	0	135	389	644	40
Subordinated debt, net	37	76	75	75	50
Accrued interest payable	7	9	14	6	2
Accrued expenses and other liabilities	170	150	125	124	84
Total liabilities	7,332	7,056	7,003	6,656	5,143
Commitments and contingencies (Note 22)	—	—	—	—	—
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued or outstanding, respectively	0	0	0	0	0
Common stock, $0.0001 par value; 50,000,000 shares authorized; 27,887,337 and 27,709,679 shares issued; 27,887,337 and 27,709,679 shares outstanding, respectively	3,000	3,000	2,000	2,000	2,000
Additional paid-in capital	550	547	463	461	262
Retained earnings	631	533	458	358	299
Accumulated other comprehensive loss, net	−27	−39	−43	−44	2
Total stockholders equity	1,153	1,041	877	775	524
Total liabilities and stockholders equity	8,485	8,097	7,880	7,430	5,667

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses	25	28	18	18	—
Depreciation and amortization on premises and equipment	8	7	7	8	7
Deferred tax expense	3	3	3	9	3
Amortization of net premium on securities	512,000	729,000	1	2	3
Accretion of net discount on acquired loans	−1	−3	−3	−1	−1
Net change in deferred loan origination fees and costs	4	−132,000	−1	1	617,000
Amortization of core deposits and other intangible assets	2	3	5	4	—
Amortization of premium on acquired deposits	−79,000	−340,000	−966,000	−1	−45,000
Accretion of discount on subordinated debt	272,000	383,000	286,000	254,000	256,000
Amortization of issuance costs on subordinated debt	124,000	147,000	147,000	145,000	93,000
Accretion of discount on convertible notes payable	0	0	101,000	1	746,000
Increase in cash surrender value of bank-owned life insurance	−2	−2	−2	−2	−1
Impairment of other real estate owned and foreclosed assets	711,000	133,000	286,000	94,000	217,000
Impairment of other intangible assets	0	780,000	0	0	—
Federal Home Loan Bank stock dividends	−586,000	−789,000	−2	−712,000	−407,000
Share-based compensation expense	4	2	2	1	3
Decrease in fair value of mortgage servicing rights	12	5	7	−12	6
Net loss on disposal of premises and equipment	179,000	397,000	120,000	86,000	76,000
Net loss on other real estate owned and foreclosed assets activity	373,000	28,000	106,000	−164,000	—
Net gain on sales of loans held-for-sale	−11	−7	−3	−12	−61
Net loss on subordinated notes issuance costs due to early redemption	444,000	0	0	—	—
Origination of loans held-for-sale	−1,404	−1,088	−791	−1,091	−2,165
Proceeds from sales of loans held-for-sale	1,362	1,076	788	1,138	2,293
Lease right-of-use assets	−106,000	−304,000	−660,000	3	0
Accrued interest receivable	−153,000	5	−9	−10	655,000
Prepaid expenses and other assets	24	−16	−11	−23	−7
Accrued interest payable	−2	−5	8	3	−223,000
Accrued expenses and other liabilities	−11	16	5	−293,000	−16
Net cash provided by operating activities	111	101	125	97	113
Proceeds from maturities of held-to-maturity securities	2	2	2	4	14
Purchases of available-for-sale securities	−24	−9	−22	−67	−249
Proceeds from paydowns, sales or maturities of available-for-sale securities	39	60	42	170	132
Loan originations, net of repayments	−338	−129	−363	−1,064	−215
Purchases of premises and equipment	−8	−5	−4	−2	−3
Proceeds from sales of premises and equipment	41,000	0	0	2,000	5,000
Proceeds from sales of other real estate owned and foreclosed assets	2	1	6	867,000	2
Proceeds from bank-owned life insurance	0	725,000	0	0	0
Purchases of restricted equity securities	−693,000	−45	−51	−40	−57,000
Proceeds from the sale or redemption of restricted equity securities	5	55	65	16	7
Purchase of other investments	−9	−12	−3	−939,000	−686,000
Proceeds from the sale or redemption of other investments	770,000	1	668,000	745,000	519,000
Net cash used in investing activities	−330	−81	−327	−538	−294
Net change in deposits	435	298	610	−281	701
Net change in securities sold under agreements to repurchase	−4	−10	−12	−55	−23
Proceeds from Federal Home Loan Bank advances	293	5,460	2,041	761	0
Repayments of Federal Home Loan Bank advances	−428	−5,715	−2,296	−317	−30
Repayments of convertible notes payable	0	0	−5	−15	0
Repayments of subordinated notes	−40	0	0	—	—
Proceeds from issuance of common stock, net of issuance costs and taxes paid on cashless exercise of equity awards	−1	82	−167,000	−579,000	−456,000
Net cash provided by financing activities	255	116	338	116	647
Net increase in cash and cash equivalents	37	137	136	−325	466
Interest paid on deposits	146	155	92	12	9
Interest paid on borrowed funds	5	12	20	14	6
Cash paid for income taxes, net	16	15	28	6	7
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	15	5	3	35	0
Net change in unrealized gain (loss) on available-for-sale securities	16	5	1	−46	−10
Loan charge-offs	29	22	10	3	5
Loans transferred to other real estate owned and foreclosed assets	10	2	4	1	3
Mortgage servicing rights resulting from sale or securitization of mortgage loans	15	12	9	14	24

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