FirstSun Capital Bancorp reported its financial results for the first quarter of 2026, revealing a net income of $21.6 million, or $0.76 per diluted share, compared to $23.6 million, or $0.83 per diluted share, in the same period of 2025. The company's net interest income increased to $82.8 million, up from $74.5 million year-over-year, driven by a rise in interest income from loans, which grew by $6.9 million. However, the provision for credit losses rose significantly to $8.3 million from $3.8 million, reflecting net portfolio downgrades and growth in loan balances. The net interest margin improved to 4.25%, compared to 4.07% in the prior year.
Total assets for FirstSun increased to $8.6 billion as of March 31, 2026, up from $8.2 billion at the end of 2025. The loan portfolio also saw growth, with loans held-for-investment reaching $6.9 billion, a 4% increase from the previous quarter. The company’s total deposits remained relatively stable at $7.1 billion, with a slight decrease from $7.1 billion at the end of 2025. The composition of deposits included a mix of noninterest-bearing and interest-bearing accounts, with a notable increase in demand and NOW accounts.
Strategically, FirstSun completed its acquisition of First Foundation Inc. on April 1, 2026, which is expected to enhance its market presence in Southern California and expand into new markets in Florida, Nevada, and Hawaii. This merger is anticipated to provide additional wealth management capabilities through First Foundation Advisors. However, the financial results of First Foundation will not be reflected in FirstSun's consolidated financials until the second quarter of 2026.
Operationally, FirstSun's employee headcount increased to 1,210 from 1,151 year-over-year, reflecting the company's growth initiatives. The bank's efficiency ratio for the first quarter was reported at 68.52%, compared to 65.19% in the previous year, indicating a rise in noninterest expenses, which totaled $75.3 million, primarily due to increased salaries and merger-related costs. The company maintains a strong capital position, with total stockholders' equity at $1.2 billion, meeting all regulatory capital requirements.
Looking ahead, FirstSun anticipates that the integration of First Foundation will yield cost savings and strategic benefits, although management acknowledges potential challenges in realizing these synergies. The company remains focused on managing its credit risk and maintaining liquidity, with a robust framework in place to navigate the evolving economic landscape.
About FIRSTSUN CAPITAL BANCORP
FirstSun Capital Bancorp is a financial holding company that owns Sunflower Bank, a community bank offering deposit, lending, treasury management, wealth management, and mortgage services across multiple states. The company focuses on relationship-driven banking, serving small to medium-sized businesses and individuals, with core strengths in commercial and residential loans, deposit franchise, and strategic growth through acquisitions and market expansion.
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