FIRSTSUN CAPITAL BANCORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
FSUN$39.48+0.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income and Comprehensive Income
For the three and nine months ended September 30,
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| (In thousands, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Interest income: | ||||
| Interest and fee income on loans: | ||||
| Taxable | $104,186 | $94,734 | $302,338 | $269,151 |
| Tax exempt | 4,255 | 4,831 | 13,555 | 14,335 |
| Interest and dividend income on securities: | ||||
| Taxable | 4,767 | 4,219 | 14,017 | 12,597 |
| Tax exempt | 2 | 7 | 11 | 20 |
| Other interest income | 5,722 | 2,984 | 13,580 | 7,607 |
| Total interest income | 118,932 | 106,775 | 343,501 | 303,710 |
| Interest expense: | ||||
| Interest expense on deposits | 39,585 | 30,896 | 114,459 | 65,804 |
| Interest expense on securities sold under agreements to repurchase | 44 | 65 | 148 | 163 |
| Interest expense on other borrowed funds | 3,145 | 2,404 | 9,031 | 16,381 |
| Total interest expense | 42,774 | 33,365 | 123,638 | 82,348 |
| Net interest income | 76,158 | 73,410 | 219,863 | 221,362 |
| Provision for credit losses | 5,000 | 3,890 | 22,700 | 11,672 |
| Net interest income after credit loss expense | 71,158 | 69,520 | 197,163 | 209,690 |
| Noninterest income: | ||||
| Service charges on deposit accounts | 6,240 | 5,475 | 17,954 | 15,848 |
| Credit and debit card fees | 2,806 | 2,996 | 8,616 | 9,034 |
| Trust and investment advisory fees | 1,395 | 1,398 | 4,351 | 4,337 |
| Income from mortgage banking services, net | 8,838 | 7,413 | 29,383 | 26,501 |
| Loss on other real estate owned and foreclosed assets activity, net | (19) | (643) | (8) | (643) |
| Other noninterest income | 2,815 | 2,011 | 7,861 | 6,794 |
| Total noninterest income | 22,075 | 18,650 | 68,157 | 61,871 |
| Noninterest expense: | ||||
| Salary and employee benefits | 39,306 | 33,968 | 116,487 | 103,073 |
| Occupancy and equipment | 9,121 | 8,487 | 26,417 | 24,977 |
| Amortization of intangible assets | 651 | 899 | 2,118 | 3,993 |
| Merger related expenses | 1,633 | — | 5,168 | — |
| Other noninterest expenses | 13,953 | 12,822 | 40,177 | 38,442 |
| Total noninterest expense | 64,664 | 56,176 | 190,367 | 170,485 |
| Income before income taxes | 28,569 | 31,994 | 74,953 | 101,076 |
| Provision for income taxes | 6,147 | 6,762 | 15,675 | 21,557 |
| Net income | $22,422 | $25,232 | $59,278 | $79,519 |
| Other comprehensive income (loss): | ||||
| Net unrealized gain (loss) on securities available-for-sale | 11,132 | (5,799) | 13,018 | (8,315) |
| Other comprehensive income (loss) | 11,132 | (5,799) | 13,018 | (8,315) |
| Comprehensive income | $33,554 | $19,433 | $72,296 | $71,204 |
| Earnings per share: | ||||
| Net income available to common stockholders | $22,422 | $25,232 | $59,278 | $79,519 |
| Basic | $0.81 | $1.01 | $2.17 | $3.19 |
| Diluted | $0.79 | $1.00 | $2.12 | $3.13 |
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