Welcome to our dedicated page for Firstsun Capital news (Ticker: FSUN), a resource for investors and traders seeking the latest updates and insights on Firstsun Capital stock.
Firstsun Capital Bancorp (FSUN) provides investors and financial professionals with timely updates through this comprehensive news hub. Track official press releases, strategic developments, and operational milestones from the parent company of Sunflower Bank, NA.
Key resources include: Earnings announcements, leadership updates, regulatory filings, and service expansions across banking and mortgage operations. Our curated feed simplifies monitoring FSUN's financial performance and market positioning.
Regular updates cover: Deposit service innovations, lending portfolio changes, treasury management enhancements, and digital banking advancements. Stay informed about strategic partnerships and regulatory compliance developments affecting this financial holding company.
Bookmark this page for direct access to FSUN's evolving financial narrative. Combine our news archive with market analysis tools for complete investment research capabilities.
FirstSun Capital Bancorp reported Q3 2024 net income of $22.4 million ($0.79 per diluted share), compared to $25.2 million ($1.00 per share) in Q3 2023. The quarter saw a net interest margin of 4.10%, loan growth of 6.7% annualized, and deposit growth of 1.8% annualized. The results were impacted by $1.2 million in merger costs. Key metrics include return on average total assets of 1.13% and return on average stockholders' equity of 8.79%. Net interest income increased by $3.3 million to $76.2 million, while noninterest income decreased by $1.2 million to $22.1 million.
FirstSun Capital Bancorp (NASDAQ: FSUN) reported strong Q2 2024 results with net income of $24.6 million, or $0.88 per diluted share. Key highlights include:
- Net interest margin of 4.02%
- Return on average total assets of 1.26%
- Return on average stockholders' equity of 10.03%
- Loan growth of 3.3% annualized
- Deposit growth of 10.8% annualized
- Noninterest income to total revenue at 24.2%
The company maintained a strong capital position with a common equity tier 1 risk-based capital ratio of 12.80%. FirstSun successfully uplisted to Nasdaq on July 12, 2024, which is expected to provide better access to capital markets.
FirstSun Capital Bancorp, the holding company for Sunflower Bank, has announced its approval to list its common stock on the Nasdaq Global Select Market. Trading is set to commence on July 12, 2024, under the ticker symbol FSUN. Previously, the company's shares were traded on the OTCQX. Shareholders do not need to take any action due to this uplisting. CEO Neal Arnold highlighted this move as a significant milestone, emphasizing the enhanced transparency and broader investor base that Nasdaq offers.
FirstSun Capital Bancorp and HomeStreet, Inc. have amended their merger agreement, increasing the total equity capital raised by $45 million to $60 million. The revised exchange ratio provides HomeStreet shareholders with 0.3867 shares of FirstSun common stock for each share of HomeStreet common stock. The ongoing banking operations will transition to a Texas state charter, with Sunflower Bank converting to a Texas state chartered bank. FirstSun will issue $48.5 million of subordinated debt, while HomeStreet will dispose of approximately $300 million of certain Commercial Real Estate loans. The merger is subject to approval from the Federal Reserve Board and the Texas Department of Banking.
FirstSun Capital Bancorp reported a net income of $12.3 million for the first quarter of 2024, compared to $26.3 million in the first quarter of 2023. Earnings per diluted share were $0.45 for Q1 2024, impacted by merger costs and a loan charge-off. Loan and deposit growth, strong net interest margin, and diversified business mix were highlighted. Noninterest income and expense increased, while the provision for credit losses rose significantly. Capital ratios remained strong, and the company announced a new C&I banking team in Southern California.
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