AI Earnings Predictions for FirstSun Capital Bancorp (FSUN)

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FirstSun Capital Bancorp Reports Second Quarter 2026 Results and

Board of Directors Authorizes $150 Million Share Repurchase Program

Second Quarter 2026 Highlights:

•Completed previously announced merger with First Foundation, Inc. (“First Foundation”), acquiring net loans of $6.0 billion, total assets of $11.2 billion, and total deposits of $8.8 billion, net of purchase accounting adjustments

•Completed remaining merger-related balance sheet repositioning strategy of $3.9 billion comprised of $1.2 billion in cash, $1.4 billion in securities, $1.3 billion in loans, $2.5 billion in deposits, and $1.4 billion in borrowings

•Net interest margin of 3.58%

•22.2% noninterest income to total revenue1

•Net (loss) income of $(22.9) million, $(0.49) per diluted share (adjusted, $21.0 million, $0.45 per diluted share, see “Non-GAAP Financial Measures and Reconciliations” below)

•Return on average total assets of (0.54)% (adjusted, 0.50%, see “Non-GAAP Financial Measures and Reconciliations” below)

•Return on average stockholders’ equity of (4.92)% (adjusted, 4.52%, see “Non-GAAP Financial Measures and Reconciliations” below)

Denver, Colorado – July 27, 2026 – FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN) reported net loss of $(22.9) million for the second quarter of 2026 compared to net income of $26.4 million for the second quarter of 2025. Earnings per diluted share were $(0.49) for the second quarter of 2026 compared to $0.93 for the second quarter of 2025. Adjusted net income, a non-GAAP financial measure, was $21.0 million or $0.45 per diluted share for the second quarter of 2026 compared to $26.6 million or $0.94 per diluted share for the second quarter of 2025.

On April 1, 2026, we completed our merger with First Foundation and its results of operations are included in our consolidated financial results since the date of acquisition. Therefore, our second quarter and first half of 2026 results reflect increased levels of average balances, net interest income, and expenses compared to our prior quarter and first half of 2025. After purchase accounting adjustments, the acquisition added $11.2 billion of total assets, including $6.0 billion of net loans, as well as $10.5 billion of total liabilities, primarily consisting of $8.8 billion in deposits. We recorded preliminary goodwill of $9.1 million and core deposit intangibles and other intangibles of $90.2 million related to the acquisition. During the second quarter of 2026, we incurred $57.6 million in merger related expenses.

During the second quarter of 2026, we completed our previously announced balance sheet repositioning strategy, involving the sale or run-off of select First Foundation loans and securities and using proceeds from such sales and paydowns as well as other available cash and equivalents to reduce higher-cost funding sources. Our balance sheet repositioning strategy was designed to strengthen our capital position, enhance our credit profile, improve our liquidity, and support a more diversified, relationship-focused business model. Our balance sheet repositioning strategy resulted in the liquidation of assets, namely $1.2 billion in cash, $1.4 billion in securities, $1.3 billion in loans, the proceeds of which were used to reduce liabilities, namely $2.5 billion in deposits, and $1.4 billion in borrowings.

Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “The completion of the First Foundation acquisition in the second quarter marked a transformational milestone for our company. We have accelerated our growth strategy and expanded our footprint across some of the most dynamic markets in the country. In the second quarter, we also successfully completed the repositioning strategy and reduced the risk profile of the balance sheet we acquired. We believe the franchise is stronger, with less concentration risk, less liquidity risk, less interest rate sensitivity, and a stronger capital profile as a result of the repositioning actions. While we experienced a decline in our financial results this quarter due to two large loan charge-offs and the merger and integration expenses

1 Total revenue is net interest income plus noninterest income.

we incurred in conjunction with completing the First Foundation acquisition, we believe our core business remains strong and we believe we are well positioned for future success.

“I want to thank all of our teammates for their diligence, professionalism and commitment to the hard work of integrating the businesses and continuing to serve our great clients and communities. We remain very excited about the growth opportunities across all of our markets as we continue building a premier regional bank.”

Share Repurchase Program

Our board of directors has authorized a share repurchase program to purchase up to $150.0 million of FirstSun’s common stock in open market transactions or privately negotiated transac

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 9, 2026

FIRSTSUN CAPITAL BANCORP

(Exact name of registrant as specified in its charter)

Delaware

001-42175

81-4552413

(State or other jurisdiction of

incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification Number)

1400 16th Street, Suite 250

Denver, Colorado 80202

(Address of principal executive offices and zip code)

(303) 831-6704

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

Voting Common

Stock, $0.0001 Par Value

FSUN

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17CFR § 230.405) or 12b-2 of the Exchange Act of 1934 (17 CFR § 240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02     Results of Operations and Financial Condition.

The information set forth under Item 7.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 7.01     Regulation FD Disclosure.

FirstSun Capital Bancorp (“FirstSun,” “we,” “us,” and “our”), the holding company for Sunflower Bank, National Association (the “Bank”), expects its second quarter 2026 financial results to be adversely affected by charge-offs, primarily related to two commercial lending relationships, and related increases in our provision for credit losses.

The first lending relationship is an asset-based loan to a materials distributor with an outstanding principal balance of approximately $23.6 million with no previous specific reserve as of March 31, 2026. Based on current information, we believe the borrower made fraudulent misrepresentations about its accounts receivable, collateral and historical financial results. The Bank initiated legal proceedings seeking the appointment of a receiver over the borrower and its assets, and a receiver has been appointed. While we plan to pursue all available sources of recovery and other means of mitigating the potential loss, at this time, we expect minimal recovery on the exposure. As a result, in the second quarter, we anticipate an approximate $22.0 million charge-off on this loan. We have notified the appropriate law enforcement authorities in connection with this matter. Based on our review of the circumstances, we believe this incident is an isolated occurrence and not indicative of broader exposure to fraud-related losses in connection with our lending activities.

The second lending relationship is a commercial and industrial loan to a technology company with an outstanding principal balance of approximately $16.0 million with no previous specific reserve as of March 31, 2026. Based on recent developments impacting the borrower’s business, including deterioration in the borrower’s financial performance in the second quarter, we anticipate an approximate $12.9 million charge-off on this loan.

Inclusive of the above-mentioned credit events, for the second quarter of 2026, we expect our provision for credit losses to be in the range of between $40 million and $41 million and charge-offs to be in the range of between $42 million and $43 million. As a result of these credit events, we are updating our 2026 full year credit outlook. For the full year 2026, inclusive of First Foundation Inc. beginning April 1, 2026, we expect net charge-offs to average loans to be in the high 50s range in basis points and we expect our allowance for credit losses to loans to be in the mid-140s to 150s range in basis points.

Management is not updating any other prior guidance at this time and will announce second quarter 2026 financial results on Monday, July 27, 2026, after market close and will host a conference call on Tuesday, July 28, 2026 at 11:00 a.m. (ET) to discuss its second quarter 2026 financial results

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FirstSun Capital Bancorp Reports First Quarter 2026 Results

First Quarter 2026 Highlights:

•Net interest margin of 4.25%

•Loan growth of 16.2%, annualized

•24.7% noninterest income to total revenue1

•Net income of $21.6 million, $0.76 per diluted share (adjusted, $23.7 million, $0.84 per diluted share, see “Non-GAAP Financial Measures and Reconciliations” below)

•Return on average total assets of 1.04% (adjusted, 1.14%, see “Non-GAAP Financial Measures and Reconciliations” below)

•Return on average stockholders’ equity of 7.47% (adjusted, 8.20%, see “Non-GAAP Financial Measures and Reconciliations” below)

Denver, Colorado – April 27, 2026 – FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN) reported net income of $21.6 million for the first quarter of 2026 compared to net income of $23.6 million for the first quarter of 2025. Earnings per diluted share were $0.76 for the first quarter of 2026 compared to $0.83 for the first quarter of 2025. Adjusted net income, a non-GAAP financial measure, was $23.7 million or $0.84 per diluted share for the first quarter of 2026.

On April 1, 2026, we completed our merger with First Foundation Inc. (“First Foundation”). During the first quarter of 2026, we incurred $2.7 million in merger related expenses. Because the merger closed after quarter-end, First Foundation’s historical consolidated financial results are not included in our results for the quarter ended March 31, 2026.

Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “First quarter results reflect the continued strength of our core franchise, highlighted by robust loan growth of 16.2% annualized, a consistently strong net interest margin of 4.25%, and a balanced revenue profile with noninterest income representing 24.7% of total revenue. While we saw higher credit costs this quarter, we believe our relationship focused and well diversified business model and our presence across some of the most dynamic markets in the country position us for continued success.

“Additionally, we are pleased to welcome the customers and team members from First Foundation and are encouraged by the momentum observed during the initial stages of integration following closing. Our teams are focused on execution, and we are progressing in line with our expectations on our merger-related balance sheet repositioning while also beginning to realize identified operating synergies. As we move forward, we are confident in our ability to deliver enhanced value-added solutions to our customers across our expanded footprint while driving sustainable long-term value for our stockholders.”

First Quarter 2026 Results

Net income totaled $21.6 million, or $0.76 per diluted share, for the first quarter of 2026, compared to $24.8 million, or $0.88 per diluted share, for the prior quarter. Adjusted net income, a non-GAAP financial measure, totaled $23.7 million, or $0.84 per diluted share, for the first quarter of 2026, compared to $26.9 million, or $0.95 per diluted share, for the prior quarter.

Return on average total assets was 1.04% for the first quarter of 2026, compared to 1.17% for the prior quarter, and return on average stockholders’ equity was 7.47% for the first quarter of 2026, compared to 8.58% for the prior quarter. Adjusted return on average total assets and adjusted return on average stockholders’ equity, each a non-GAAP financial measure, were 1.14% and 8.20% respectively for the first quarter of 2026 compared to 1.27% and 9.31% respectively for the prior quarter.

1 Total revenue is net interest income plus noninterest income.

Net Interest Income and Net Interest Margin

Net interest income totaled $82.8 million for the first quarter of 2026, a decrease of $0.7 million compared to the prior quarter. Our net interest margin increased 7 basis points to 4.25% compared to the prior quarter.

Average loans, including loans held-for-sale, increased by $32.1 million in the first quarter of 2026, compared to the prior quarter. Loan yield decreased by one basis point to 6.36% in the first quarter of 2026, compared to the prior quarter, primarily due to the declining interest rate environment and its impact on variable rate loans in the loan portfolio. Average interest-bearing cash and other assets decreased by $40.3 million in the first quarter of 2026, compared to the prior quarter. Interest-bearing cash and other assets yield decreased by 32 basis points to 3.36% in the first quarter of 2026, compared to the prior quarter, primarily due to the declining interest rate environment.

Average interest-bearing deposits increased $28.8 million in the first quarter of 2026, compared to the prior quarter. Total cost of interest-bearing deposits decreased by 14 basis points to 2.46% in the first quarter of 2026, compared to the prior quarter, primarily due to rate decreases for certificates of deposit and money market deposits amidst the declining inter