Business
FirstSun Capital Bancorp and First Foundation Inc. Combining in All-Stock Merger
Transaction will create a premier $17 billion bank operating in the nation’s best growth markets Unlocking value via a material balance sheet re-positioning
About this update from Firstsun Capital Bancorp
[{"type":"text","content":"\nTransaction will create a premier $17 billion bank operating in the nation’s best growth markets\n\n\n\nUnlocking value via a material balance sheet re-positioning strategy: approximately $3.4 billion planned down-size of non-core assets\n\n\n\nSubstantially accelerates FirstSun’s de novo expansion strategy in the highly attractive Southern California marketplace\n\n\n\nCombined entity will migrate to best-in-class performance metrics with a high quality business mix, including $6.8 billion in pro forma AUM and 20% fee income-to-revenue ratio\n\n\n\nTop-tier performance metrics on a pro forma combined basis: ~1.45% ROAA and ~13.3% ROATCE\n\n\n\n30%+ accretion to FSUN’s 2027 estimated EPS\n\n\n\nHighly experienced combined management team with proven expertise and track record in executing on balance sheet re-positioning and M&A integration\n\n\n\nSignificant pro forma insider and affiliate ownership estimated at 48%\n\n\n\n DENVER, CO and IRVING, TX--(BUSINESS WIRE)--\nFirstSun Capital Bancorp (“FirstSun,” or the “Company”) (Nasdaq: FSUN), the holding company of Dallas-based Sunflower Bank, N.A. (“Sunflower Bank”) and First Foundation Inc. (“First Foundation”) (NYSE: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and Irvine, California-based First Foundation Bank (“First Foundation Bank”) jointly announced today that they have entered into a definitive merger agreement (the “Merger Agreement”), which was unanimously approved by the respective board of directors of both FirstSun and First Foundation. Under the terms of the Merger Agreement, First Foundation will merge with and into FirstSun, with FirstSun continuing as the surviving company (the “Merger”). Immediately following the Merger, First Foundation Bank will merge with and into Sunflower Bank, with Sunflower Bank continuing as the surviving bank. The combined holding company and bank will operate under the FirstSun and Sunflower Bank names and brands following closing of the transaction, respectively.\n\n\nUnder the terms of the Merger Agreement, the companies will combine in an all-stock transaction in which First Foundation common and preferred stockholders will receive 0.16083 of a share of FirstSun common stock for each share of First Foundation common stock owned on a fully converted basis. Additionally, ...