FSUN Research | Milton Maxwell

FSUN

FirstSun Capital Bancorp

38.54

+0.07+0.18%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Lighter deposit betas flagged

1/26/26Jan 26, 2026

Q&A largely reaffirmed Q4 strength and '26 standalone guidance, but flagged deposit betas tracking lighter than historical 40%+ amid fierce competition, while NIM holds stable with two cuts baked in. Management revealed bigger-than-expected Texas hiring opps from M&A churn, eyeing opportunistic C&I builds alongside SoCal teams. Merger progress on track—no rate-cut hiccups—with post-close loan downsizing and high-cost deposit runoff to mid-80s L/D for margin aid, plus SoCal retail and multifamily treasury upside. Special mentions ticked up lumpy on one name. Credit lumpy. Investors eye deposit mix grit.

Key Stats

Market Cap

1.07B

P/E (TTM)

12.20

Basic EPS (TTM)

3.16

Dividend Yield

Recent Filings

8-K

All regulatory approvals received

3/12/26Mar 12, 2026

FirstSun Capital Bancorp secured Federal Reserve approval on March 12, 2026, for its merger with First Foundation, following OCC and stockholder nods—all bank regulatory clearances now in hand. Closing is eyed for April 1, subject to customary conditions. Remaining hurdles could delay or derail it.

10-K

FY2025 results

3/6/26Mar 6, 2026

FirstSun closed FY2025 with $8.5B assets, $6.7B loans up 4.7% y/y, and $7.1B deposits up 6.6% y/y, bolstered by C&I growth. Net income hit $97.9M or $3.47 diluted EPS on NIM of 4.10%, with Q4 momentum from mortgage originations reaching $1.4B annually (up from $1.1B) and servicing UPB at $6.3B. Banking drove $116.6M pretax income on lower funding costs, while Mortgage added $17.6M on higher gains and servicing fees; margins held firm despite rate cuts. Year-end debt was subordinated notes at $36.7M maturing 2032; no buybacks or dividends. Pending First Foundation merger eyes Q2 2026 close. Merger integration delays could stall quarterly deposit growth.

8-K

Stockholders approve FirstSun merger

2/27/26Feb 27, 2026

FirstSun Capital Bancorp stockholders overwhelmingly approved the merger with First Foundation Inc. on February 27, 2026, adopting the October 27, 2025 merger agreement and issuing shares as consideration. They also greenlit increasing authorized common shares and creating non-voting common stock for certain First Foundation holders. Votes sailed through: 24.4M for merger, scant opposition. Merger awaits First Foundation's nod.

8-K

OCC approves bank merger

2/25/26Feb 25, 2026

FirstSun Capital Bancorp secured OCC approval on February 25, 2026, for merging Sunflower Bank with First Foundation Bank, advancing the broader FirstSun-First Foundation merger announced October 27, 2025. Stockholder votes loom February 27; Fed approval and closing conditions remain. Merger eyed for early Q2 2026. Risks include vote failure.

8-K

Merger amendment tweaks conversions

2/6/26Feb 6, 2026

FirstSun Capital Bancorp and First Foundation amended their October 2025 merger agreement on February 6, 2026, tweaking the non-voting common stock conversion rules in Exhibit E. The change scraps the 4.99% voting cap trigger, allowing elective conversions only if FirstSun's actions dilute a holder's voting stake—and solely to match prior levels. No economic terms shift. Regulatory compliance tightens.

About

FirstSun Capital Bancorp operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in Texas, Kansas, Colorado, New Mexico, Arizona, California, and Washington. It offers noninterest and interest-bearing deposit accounts, checking and savings accounts, money market and term certificate accounts, and treasury management products and services, as well as certificates of deposit. The company also provides commercial and industrial loans, commercial real estate loans, residential mortgage loans, and small business administration loans, as well as consumer loans, such as personal, 1-4 family, home equity, multi-family, credit card accounts, overdrafts, and other revolving loans. In addition, it offers remote deposit and cash management products; wealth management and online banking products and services; and trust products, including personal trust and agency accounts, employee benefit and retirement related trust and agency accounts, investment management and advisory agency accounts, and foundation and endowment trust and agency accounts. The company was formerly known as Sunflower Financial, Inc. and changed its name to FirstSun Capital Bancorp in June 2017. FirstSun Capital Bancorp was founded in 1892 and is headquartered in Denver, Colorado.

CEO

Ms. Mollie Hale Carter

IPO

8/3/2022

Website

https://ir.firstsuncb.com

Employees

1,179

Sector

Financial Services

Industry

Banks - Regional