FIRSTSUN CAPITAL BANCORP

For the period ended Dec 31, 2023. Filed Mar 7, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 7, 2024

FSUN$39.48+0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income and Comprehensive Income

(In thousands, except per share amounts)	2023	2022	2021
Interest income:
Interest and fee income on loans:
Taxable	$366,523	$228,967	$137,669
Tax exempt	19,114	19,021	21,634
Interest and dividend income on securities:
Taxable	17,014	13,176	7,964
Tax exempt	18	9	15
Other interest income	11,015	5,644	2,072
Total interest income	413,684	266,817	169,354
Interest expense:
Interest expense on deposits	101,355	13,154	8,544
Interest expense on securities sold under agreements to repurchase	225	119	59
Interest expense on other borrowed funds	18,673	11,912	5,518
Total interest expense	120,253	25,185	14,121
Net interest income	293,431	241,632	155,233
Provision for credit losses	18,247	18,050	3,000
Net interest income after credit loss expense	275,184	223,582	152,233
Noninterest income:
Service charges on deposit accounts	21,345	18,211	12,504
Credit and debit card fees	12,000	11,511	9,596
Trust and investment advisory fees	5,693	6,806	7,795
Income from mortgage banking services, net	31,384	46,285	86,410
(Loss) gain on other real estate owned and foreclosed assets activity, net	(106)	164	766
Other noninterest income	8,776	6,589	7,173
Total noninterest income	79,092	89,566	124,244
Noninterest expense:
Salary and employee benefits	133,231	134,359	151,926
Occupancy and equipment	33,426	31,344	27,628
Amortization of intangible assets	4,822	4,215	1,417
Merger related expenses	—	18,751	3,085
Other noninterest expenses	51,314	50,457	40,579
Total noninterest expense	222,793	239,126	224,635
Income before income taxes	131,483	74,022	51,842
Provision for income taxes	27,950	14,840	8,678
Net income	$103,533	$59,182	$43,164
Other comprehensive income, net of tax:
Gain (loss) on securities available-for-sale	758	(47,821)	(7,455)
Gain on fair value hedges of securities available-for-sale	218	2,174	—
Other comprehensive income (loss), net of tax	976	(45,647)	(7,455)
Comprehensive income	$104,509	$13,535	$35,709
Earnings per share:
Net income available to common stockholders	$103,533	$59,182	$43,164
Basic	$4.15	$2.55	$2.36
Diluted	$4.08	$2.48	$2.30

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.