FSUN · FirstSun Capital Bancorp

FirstSun Capital Bancorp reported Q1 2026 net income of $21.6 million ($0.76 diluted EPS), down from $23.6 million ($0.83) in Q1 2025 and $24.8 million ($0.88) in Q4 2025. Adjusted net income was $23.7 million ($0.84 diluted EPS), excluding $2.7 million in merger-related expenses from the First Foundation merger that closed on April 1, 2026. Net interest income decreased slightly to $82.8 million, but net interest margin improved 7 basis points to 4.25% due to lower deposit costs. Loan growth was robust at 16.2% annualized, driven by C&I lending. Noninterest income rose to $27.2 million, with mortgage banking income up $2.2 million on higher originations. Noninterest expense increased to $75.3 million, primarily from seasonal payroll and benefits costs. Credit costs rose: provision for credit losses was $8.3 million (up $2.1 million QoQ) and net charge-offs were $10.6 million (0.63% annualized), mainly from two C&I relationships. The allowance for credit losses stood at 1.20% of loans. Balance sheet remained strong with CET1 ratio of 13.77%, total assets of $8.6 billion, and tangible book value per share of $38.57. The merger with First Foundation is expected to enhance scale and diversify revenue, with management expressing confidence in integration and synergy realization.