# FIRSTSUN CAPITAL BANCORP (FSUN)

Informational only - not investment advice.

CIK: 0001709442
SIC: 6021 National Commercial Banks
SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6021 National Commercial Banks](/industry/6021/)
Latest 10-K filed: 2026-03-06
SEC page: https://www.sec.gov/edgar/browse/?CIK=1709442
Filing source: https://www.sec.gov/Archives/edgar/data/1709442/000170944226000017/fcb-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-03-06 · accession 0001709442-26-000017 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001709442.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 467,769,000 USD | 2025 | verified |
| Net income | 97,936,000 USD | 2025 | verified |
| Assets | 8,485,162,000 USD | 2025 | verified |
| Free cash flow | 103,974,000 USD | 2025 | computed |
| Net margin | 20.94% | 2025 | computed |
| Revenue YoY | +1.79% | 2025 | computed |
| ROE | 8.49% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | FSUN | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 20.9% | 22.9% | 31 | 76 |
| Revenue growth | 1.8% | 5.2% | 32 | 76 |
| FCF margin | 22.2% | 22.0% | 52 | 65 |
| ROE | 8.5% | 9.9% | 29 | 76 |
| ROA | 1.2% | 1.1% | 59 | 76 |
| Liabilities / equity | 6.36 | 8.12 | 15 | 76 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6021 National Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 467769000 | USD | 2025 | 2026-03-06 |
| Net income | 97936000 | USD | 2025 | 2026-03-06 |
| Assets | 8485162000 | USD | 2025 | 2026-03-06 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001709442.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue |  | 155,838,000 | 156,837,000 | 169,354,000 | 266,817,000 | 413,684,000 | 459,540,000 | 467,769,000 |
| Net income |  | 20,503,000 | 47,585,000 | 43,164,000 | 59,182,000 | 103,533,000 | 75,628,000 | 97,936,000 |
| Diluted EPS |  | 1.03 | 2.58 | 2.30 | 2.48 | 4.08 | 2.69 | 3.47 |
| Operating cash flow |  | 3,897,000 | -547,000 | 113,109,000 | 96,915,000 | 125,176,000 | 101,120,000 | 111,483,000 |
| Capital expenditures |  | 6,908,000 | 6,155,000 | 3,455,000 | 2,196,000 | 4,268,000 | 5,412,000 | 7,509,000 |
| Dividends paid |  | 32,000,000 | 0.00 | 0.00 | 8,000,000 | 26,000,000 | 0.00 | 7,600,000 |
| Assets |  | 4,185,443,000 | 4,995,457,000 | 5,666,814,000 | 7,430,322,000 | 7,879,724,000 | 8,097,387,000 | 8,485,162,000 |
| Liabilities |  |  | 4,509,670,000 | 5,142,776,000 | 6,655,786,000 | 7,002,527,000 | 7,056,021,000 | 7,331,806,000 |
| Stockholders' equity | 430,201,000 | 430,201,000 | 485,787,000 | 524,038,000 | 774,536,000 | 877,197,000 | 1,041,366,000 | 1,153,356,000 |
| Cash and cash equivalents |  |  | 201,978,000 | 668,462,000 | 343,526,000 | 479,362,000 | 615,917,000 | 652,592,000 |
| Free cash flow |  | -3,011,000 | -6,702,000 | 109,654,000 | 94,719,000 | 120,908,000 | 95,708,000 | 103,974,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  | 13.16% | 30.34% | 25.49% | 22.18% | 25.03% | 16.46% | 20.94% |
| Return on equity |  | 4.77% | 9.80% | 8.24% | 7.64% | 11.80% | 7.26% | 8.49% |
| Return on assets |  | 0.49% | 0.95% | 0.76% | 0.80% | 1.31% | 0.93% | 1.15% |
| Liabilities / equity |  |  | 9.28 | 9.81 | 8.59 | 7.98 | 6.78 | 6.36 |

## As-reported value updates

1 tracked difference above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/FSUN/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-10. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001709442.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 1.04 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 1.03 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 1.11 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 106,775,000 | 25,232,000 | 1.00 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 109,974,000 | 24,014,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 110,040,000 | 12,296,000 | 0.45 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 114,529,000 | 24,560,000 | 0.88 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 118,932,000 | 22,422,000 | 0.79 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 116,039,000 | 16,350,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 110,447,000 | 23,569,000 | 0.83 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 116,921,000 | 26,386,000 | 0.93 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 121,128,000 | 23,174,000 | 0.82 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 119,273,000 | 24,807,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 116,126,000 | 21,583,000 | 0.76 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 230,016,000 | -22,850,000 | -0.49 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from FSUN's latest 10-K: [/company/FSUN/business/](/company/FSUN/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from FSUN's latest 10-K: [/company/FSUN/risk-factors/](/company/FSUN/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1709442/000170944226000046/fcb-20260630.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-10
Report date: 2026-06-30

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

General Overview

FirstSun Capital Bancorp, headquartered in Denver, Colorado, is the financial holding company for Sunflower Bank, National Association, which is headquartered in Dallas, Texas and operates as Sunflower Bank and First National 1870. We conduct a full-service community banking and trust business through our wholly-owned subsidiaries, which as of June 30, 2026, consisted of Sunflower Bank, FEIF Capital Partners, LLC, and First Foundation Advisors, an SEC-registered investment adviser, which also operates as FirstSun Advisors and Sunflower Wealth Advisors. The following discussion and analysis of our consolidated financial condition and results of operations should be read in conjunction with the unaudited consolidated financial statements and accompanying footnotes included in Item 1 of this Form 10-Q as well as our audited consolidated financial statements and footnotes for the year ended December 31, 2025 included in our 2025 Annual Report that we filed with the SEC on March 6, 2026. Historical results of operations and the percentage relationships among any amounts included, and any trends that may appear, may not indicate trends in operations or results of operations for any future periods.

Recent Developments

Acquisition of First Foundation Inc.

On April 1, 2026, we completed our merger with First Foundation, the holding company for First Foundation Bank, a California-chartered banking corporation. The consummation of the acquisition with First Foundation expanded our markets in Southern California and Texas and added new markets in Florida, Nevada and Hawaii. The acquisition also expanded our wealth management capabilities through the acquisition of First Foundation Advisors, an SEC-registered investment adviser under the Investment Advisers Act and a former wholly owned subsidiary of First Foundation.

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, non-interest income and expenses compared to the second 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.

Merger related expenses were $57.6 million and $0.3 million, for the three months ended June 30, 2026 and 2025 and were $60.2 million and $0.3 million for the six months ended June 30, 2026 and 2025, respectively, and are recorded in “Merger related expenses” on the Company’s Consolidated Statements of Income and have been expensed as incurred. Merger related expenses were related to the First Foundation acquisition and such costs included employee severance, other employee related costs, professional fees, and facilities related costs.

Completed Balance Sheet Repositioning Strategy

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 acquired 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.

Share Repurchase Program

On July 24, 2026, our board of directors authorized a share repurchase program to purchase up to $150.0 million of our common stock in open market transactions or privately negotiated transactions, including pursuant to a Rule 10b5-1 trading plan and/or in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing, pricing, and amount of any repurchases under the repurchase program will be determined by our management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of our common stock, corporate considerations, our financial performance, alternative uses for capital, general market and economic conditions, legal and regulatory requirements, and other factors. The repurchase program is authorized through June 30, 2027, although it may

59

be modified, discontinued, or suspended at any time without prior notice. The repurchase program does not obligate us to purchase any shares.

Deposits Classification

Previously, deposit amounts related to certain NOW accounts with limited monthly transaction activity were able to be reclassified to money market accounts to reduce reserve requirements at the Federal Reserve. As there is no longer any impact to reserve requirements across different deposit products, we have discontinued this product reclassification practice and have revised the presentation of those deposits to conform to the current presentation for periods prior to March 31, 2026. Reclassifications had no effect on prior years net income or stockholders’ equity.

Financial Summary

Net (loss) income totaled $(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. See “Non-GAAP Financial Measures and Reconciliations” below.

Net (loss) income totaled $(1.3) million for the six months ended June 30, 2026 compared to net income of $50.0 million for the same period in 2025. Earnings per diluted share were $(0.03) for the six months ended June 30, 2026 compared to $1.77 for the same period in 2025. Adjusted net income, a non-GAAP financial measure, was $44.7 million or $1.20 per diluted share for the six months ended June 30, 2026 compared to $50.2 million or $1.78 per diluted share for the same period in 2025. See “Non-GAAP Financial Measures and Reconciliations” below.

The following table sets forth certain summary financial and other information of FirstSun:

[[GREPCENT_TABLE]]
[["","As of and for the three months ended","","As of and for the six months ended"],["($ in thousands, except per share amounts)","June 30, 2026","","June 30, 2025","","June 30, 2026","","June 30, 2025"],["Income Statement:"],["Net interest income","$","143,195","","","$","78,499","","","$","225,974","","","$","152,977"],["Provision for credit losses","40,400","","","4,500","","","48,650","","","8,300"],["Noninterest income","40,948","","","27,073","","","68,123","","","48,802"],["Noninterest expense","171,712","","","68,110","","","247,053","","","130,832"],["(Loss) income before income taxes","(27,969)","","","32,962","","","(1,606)","","","62,647"],["(Benefit) provision for income taxes","(5,119)","","","6,576","","","(339)","","","12,692"],["Net (loss) income","(22,850)","","","26,386","","","(1,267)","","","49,955"],["Adjusted net income1","21,021","","","26,601","","","44,694","","","50,170"],["Balance Sheet:"],["Total assets","$","15,717,985","","","$","8,435,861","","","$","15,717,985","","","$","8,435,861"],["Loans held-for-sale","140,706","","","90,781","","","140,706","","","90,781"],["Loans held-for-investment","11,568,443","","","6,507,066","","","11,568,443","","","6,507,066"],["Total deposits","13,418,004","","","7,100,164","","","13,418,004","","","7,100,164"],["Total borrowed funds","205,256","","","76,066","","","205,256","","","76,066"],["Total stockholders' equity","1,837,392","","","1,095,402","","","1,837,392","","","1,095,402"],["Per Common Share Data:"],["Period end common shares outstanding","46,765,434","","","27,834,525","","","46,765,434","","","27,834,525"],["Weighted average common shares outstanding, basic","46,722,106","","","27,783,710","","","37,314,285","","","27,753,098"],["Basic earnings per share","$","(0.49)","","","$","0.95","","","$","(0.03)","","","$","1.80"],["Weighted average common shares outstanding, diluted","46,722,106","","","28,232,319","","","37,314,285","","","28,263,943"],["Diluted (loss) earnings per share","$","(0.49)","","","$","0.93","","","$","(0.03)","","","$","1.77"],["Adjusted diluted earnings per share1","0.45","","","0.94","","","1.20","","","1.78"],["Cash dividends","$","\u2014","","","$","\u2014","","","$","\u2014","","","$","\u2014"],["Dividend payout ratio","\u2014","%","","\u2014","%","","\u2014","%","","\u2014","%"],["Book value per share","$","39.29","","","$","39.35","","","$","39.29","","","$","39.35"],["Tangible book value per share1","35.16","","","35.77","","","35.16","","","35.77"],["Performance Ratios:"],["Return on average total assets","(0.54)","%","","1.28","%","","(0.02)","%","","1.24","%"],["Adjusted return on average total assets1","0.50","%","","1.29","%","","0.71","%","","1.25","%"]]
[[/GREPCENT_TABLE]]

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[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1709442/000170944226000017/fcb-20251231.htm
Complete FY 2025 MD&A: /company/FSUN/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-06
Report date: 2025-12-31

Item 7.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF FIRSTSUN

In this section, unless the context suggests otherwise, references to “we,” “us,” and “our” mean the combined business of FirstSun and its wholly-owned subsidiaries, Sunflower Bank, Sunflower Wealth Advisors, LLC, and FEIF Capital Partners, LLC.

The following discussion is an analysis of our consolidated results of operations for the years ended December 31, 2025, 2024 and 2023, and financial condition for the years ended December 31, 2025 and 2024. This discussion and analysis should be read in conjunction with our consolidated financial statements and accompanying footnotes filed with this report in “Part II, Item 8. Financial Statements.” We have omitted discussion of 2023 results where it would be redundant to the discussion previously included in “Management’s Discussion and Analysis of Financial Condition and Results of Operations of FirstSun” section of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 7, 2025. Historical results of operations and the percentage relationships among any amounts included, and any trends that may appear, may not indicate trends in operations or results of operations for any future periods.

Comments regarding our business that are not historical facts are considered forward-looking statements that involve inherent risks and uncertainties. Actual results may differ materially from those contained in these forward-looking statements. For additional information regarding our cautionary disclosures, see the “Cautionary Note Regarding Forward-Looking Statements” beginning on page 3 of this report.

General Overview

FirstSun Capital Bancorp, headquartered in Denver, Colorado, is the financial holding company for Sunflower Bank, National Association, which is headquartered in Dallas, Texas and operates as Sunflower Bank, First National 1870 and Sunflower Bank Mortgage Lending. We conduct a full-service community banking and trust business through our wholly-owned subsidiaries—Sunflower Bank, Sunflower Wealth Advisors, LLC and FEIF Capital Partners, LLC.

We offer a full range of relationship-focused services to meet our clients’ personal, business and wealth management financial objectives throughout Texas, Kansas, Colorado, New Mexico, Arizona, California and Washington and a mortgage lending platform with capabilities in 44 states. Our product line includes commercial and industrial loans, commercial real estate loans, residential mortgage, public finance and other consumer loans, and a variety of commercial and consumer deposit products, including noninterest-bearing accounts, interest-bearing demand products, savings accounts, money market accounts and certificates of deposit. We also offer wealth management 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. We also offer online banking and bill payment services, online cash management, safe deposit box rentals, debit card and ATM card services and the availability of a network of ATMs for our customers.

We operate FirstSun through two operating segments: Banking and Mortgage Operations. We also allocate certain expenses to Corporate, which is not an operating segment. The expenses included in Corporate are not deemed to be allocable to our operating segments. The operating segments have been determined based on the products and services we offer and reflect the manner in which our financial information is evaluated by management. Each of the operating segments is complementary to each other and because of the interrelationship of the segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. For additional information on our segments, see Note 21 - Segment Information included in our consolidated financial statements included elsewhere in this report.

58

Table of Contents

Pending merger with First Foundation Inc.

On October 27, 2025, we entered into a merger agreement with First Foundation, the holding company of First Foundation Bank, headquartered in Irvine, California, as amended by amendment no. 1 to the merger agreement dated February 6, 2026. Under the merger agreement, First Foundation will merge with and into FirstSun, with FirstSun continuing as the surviving entity. Immediately following the merger, First Foundation Bank will merge with and into Sunflower Bank, with Sunflower Bank continuing as the surviving bank. The consummation of the proposed merger will expand our markets in California and Texas, as well as add new markets in Florida, Nevada and Hawaii.

The merger agreement, as amended, was unanimously approved by the boards of directors of FirstSun and First Foundation, and is subject to customary closing conditions, including receipt of remaining required regulatory approvals. The stockholders of FirstSun and First Foundation approved the merger agreement and transactions contemplated thereby at special stockholders’ meetings held on February 27, 2026. The merger is expected to close early in the second quarter of 2026.

Financial Highlights For 2025

We delivered strong financial results in 2025, compared to 2024, which included:

•Net income of $97.9 million, $3.47 per diluted share (adjusted net income of $100.5 million1, $3.56 adjusted per diluted share1)

•Net interest margin of 4.10%

•Return on average total assets of 1.18% (adjusted return on average total assets of 1.21%1)

•Return on average stockholders’ equity of 8.88% (adjusted return on average stockholders’ equity of 9.11%1)

•Loan growth of 4.7%

•Average deposit growth of 6.6%

•24.3% noninterest income to total revenue (defined as net interest income plus noninterest income)

Net income totaled $97.9 million, or $3.47 per diluted share, in 2025, compared to $75.6 million, or $2.69 per diluted share, in 2024. Adjusted net income, a non-GAAP financial measure, was $100.5 million, or $3.56 per diluted share, in 2025 compared to $87.7 million, or $3.13 per adjusted diluted share, in 2024.

The return on average total assets was 1.18% in 2025, compared to 0.96% in 2024, and the return on average stockholders’ equity was 8.88% in 2025, compared to 7.56% in 2024. Adjusted return on average total assets and adjusted return on average stockholders’ equity, each a non-GAAP financial measure, were 1.21% and 9.11% respectively in 2025 compared to 1.12% and 8.77% respectively in 2024.

The following tables set forth certain financial highlights of FirstSun as of and for the years ended December 31,:

[[GREPCENT_TABLE]]
[["($ in thousands, except per share amounts)","2025","","2024","","2023"],["Income Statement:"],["Net interest income","$","317,391","","","$","296,910","","","$","293,431"],["Provision for credit losses","24,600","","","27,550","","","18,247"],["Noninterest income","101,879","","","89,792","","","79,092"],["Noninterest expense","271,774","","","264,040","","","222,793"],["Income before income taxes","122,896","","","95,112","","","131,483"],["Provision for income taxes","24,960","","","19,484","","","27,950"],["Net income","97,936","","","75,628","","","103,533"],["Adjusted net income1","100,505","","","87,744","","","103,533"],["Balance Sheet:"],["Total assets","$","8,485,162","","","$","8,097,387","","","$","7,879,724"],["Loans held-for-sale","100,539","","","61,825","","","54,212"],["Loans held-for-investment","6,673,180","","","6,376,357","","","6,267,096"],["Total deposits","7,107,356","","","6,672,260","","","6,374,103"],["Total borrowed funds","36,680","","","210,841","","","464,781"],["Total stockholders' equity","1,153,356","","","1,041,366","","","877,197"],["1 See section entitled \u201cNon-GAAP Financial Measures and Reconciliations\u201d for information regarding these non-GAAP financial measures and a reconciliation to the most comparable GAAP equivalent."]]
[[/GREPCENT_TABLE]]

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Table of Contents

[[GREPCENT_TABLE]]
[["($ in thousands, except per share amounts)","2025","","2024","","2023"],["Per Common Share Data:"],["Period end common shares outstanding","27,887,337","","","27,709,679","","","24,960,639"],["Weighted average common shares outstanding, basic","27,786,887","","","27,433,865","","","24,938,359"],["Basic earnings per share","$","3.52","","","$","2.76","","","$","4.15"],["Weighted average common shares outstanding, diluted","28,249,796","","","28,067,273","","","25,387,196"],["Diluted earnings per share","$","3.47","","","$","2.69","","","$","4.08"],["Adjusted diluted earnings per share1","3.56","","","3.13","","","4.08"],["Cash dividends","$","\u2014","","","$","\u2014","","","$","\u2014"],["Dividend payout ratio","\u2014","%","","\u2014","%","","\u2014","%"],["Book value per share","$","41.36","","","$","37.58","","","$","35.14"],["Tangible book value per share1","37.83","","","33.94","","","30.96"],["Performance Ratios:"],["Return on average total assets","1.18","%","","0.96","%","","1.38","%"],["Adjusted return on average total assets1","1.21","%","","1.12","%","","1.38","%"],["Return on average stockholders' equity","8.88","%","","7.56","%","","12.50","%"],["Adjusted return on average stockholders\u2019 equity1","9.11","%","","8.77","%","","12.50","%"],["Return on average tangible stockholders' equity1","9.95","%","","8.74","%","","14.88","%"],["Adjusted return on average tangible stockholders' equity1","10.21","%","","10.09","%","","14.88","%"],["Net interest margin","4.10","%","","4.06","%","","4.23","%"],["Net interest margin (FTE basis)1","4.16","%","","4.12","%","","4.29","%"],["Efficiency ratio","64.82","%","","68.28","%","","59.81","%"],["Adjusted efficiency ratio1","64.17","%","","64.13","%","","59.81","%"],["Noninterest income to total revenue2","24.3","%","","23.2","%","","21.2","%"],["Balance Sheet Ratios:"],["Loan to deposit ratio","93.9","%","","95.6","%","","98.3","%"],["Net charge-offs (recoveries) to average loans outstanding","0.43","%","","0.32","%","","0.13","%"],["Allowance for credit losses to loans","1.27","%","","1.38","%","","1.28","%"],["Nonperforming loans to total loans","0.91","%","","1.08","%","","1.01","%"],["Capital Ratios:"],["Total risk-based capital to risk-weighted assets","15.73","%","","15.42","%","","13.25","%"],["Tier 1 risk-based capital to risk-weighted assets","14.12","%","","13.18","%","","11.10","%"],["Common Equity Tier 1 (CET 1) to risk-weighted assets","14.12","%","","13.18","%","","11.10","%"],["Tier 1 leverage capital to average assets","12.75","%","","12.11","%","","10.52","%"],["Average stockholders' equity to average total assets","13.33","%","","12.72","%","","11.05","%"],["Tangible stockholders' equity to tangible assets1","12.58","%","","11.76","%","","9.94","%"],["Tangible stockholders' equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax1","12.54","%","","11.71","%","","9.90","%"],["Nonfinancial Data:"],["Full-time equivalent employees","1,177","","","1,127","","","1,110"],["Banking branches","71","","","69","","","69"],["1 See section entitled \u201cNon-GAAP Financial Measures and Reconciliations\u201d for information regarding these non-GAAP financial measures and a reconciliation to the most comparable GAAP equivalent."],["2 Total revenue is net interest income plus noninterest income."]]
[[/GREPCENT_TABLE]]

60

Table of Contents

Non-GAAP Financial Measures and Reconciliations

The non-GAAP financial measures presented below are used by our management and our board of directors on a regular basis in addition to our GAAP results to facilitate the assessment of our financial performance and the efficiency of our operations. Management believes these non-GAAP financial measures provide a greater understanding of our ongoing operations, enhance an investo

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/FSUN/mda/fy2025/
All MD&A years: /company/FSUN/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/FSUN/mda/fy2024/): filed 2025-03-07; accession 0001709442-25-000008 (https://www.sec.gov/Archives/edgar/data/1709442/000170944225000008/fcb-20241231.htm)
- [FY 2023 MD&A](/company/FSUN/mda/fy2023/): filed 2024-03-07; accession 0001709442-24-000013 (https://www.sec.gov/Archives/edgar/data/1709442/000170944224000013/fcb-20231231.htm)
- [FY 2022 MD&A](/company/FSUN/mda/fy2022/): filed 2023-03-16; accession 0001709442-23-000005 (https://www.sec.gov/Archives/edgar/data/1709442/000170944223000005/fcb-20221231.htm)
- [FY 2021 MD&A](/company/FSUN/mda/fy2021/): filed 2022-03-25; accession 0001709442-22-000009 (https://www.sec.gov/Archives/edgar/data/1709442/000170944222000009/fcb-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 6021 National Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit
- [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/FSUN.md · JSON record: /company/FSUN.json · verified financials: /company/FSUN/financials.json / /company/FSUN/financials.csv · machine TOC for the whole site: /llms.txt