Firstsun Capital Bancorp · NASDAQ:FSUN
Firstsun Capital Bancorp — Q4 2025 Earnings Presentation
29 slides from Firstsun Capital Bancorp's earnings presentation, Jan 27, 2026
Slide 1: FirstSun Capital Bancorp 4Q2025 Earnings Presentation
FirstSun Capital Bancorp NASDAQ: FSUN 4Q2025 Earnings Presentation January 26, 2026
Slide 2: Disclaimers
Disclaimers Forward Looking Statements This presentation contains forward-looking information and statements by FirstSun Capital Bancorp (the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are generally identifiable by the use of wo
Slide 3: Disclaimers (cont'd)
Disclaimers (cont’d) Use of Non-GAAP Measures This presentation includes certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP financial measures include certain operating performance m
Slide 4: Corporate Profile
Corporate Profile Operating in 5 of the Top 10 With a Presence in 7 of the 10 Largest Franchise Footprint4 Fastest Growing MSAs1 MSAs in the Southwest & Western US2 # # 1 Austin, TX 1 Southern CA3 2 Dallas, TX 2 Dallas, TX $8.5B 3 Orlando, FL 3 Houston, TX Total Assets 4 Charlotte, NC 4 Phoenix, AZ
Slide 5: Unique High Growth Franchise
Unique High Growth Franchise Universe Strong Fee Lending Attractive Size Income Focus Growth Footprint3 ~ 40 Banks 1 Bank Attractive core Banks West of the deposit funded Mississippi River With scale in markets franchise with MRQ Fee proven ability to Specialized Loan Growth2 with leading projected
Slide 6: Investment Thesis — Focused Strategy
Investment Thesis — Focused Strategy C&I business focus with a Southwest & Western Vertical lending expertise disciplined and careful CRE geography with a mix of metro provides true alternative to exposure to core customers in and community markets larger banks our geography Financial service income
Slide 7: Full Year 2025 Results
Full Year 2025 Results Net Income Diluted EPS Full Year 2025 Highlights $97.9 million $100.5 million $3.47 $3.56 • Diluted EPS increase of 29.0% over 2024; Adjusted Diluted EPS1 increase of 13.7% over Reported Adjusted1 Reported Adjusted1 2024 ROAA PTPP ROAA1 • Total revenue3 of $419.3 million, an 8
Slide 8: Fourth Quarter 2025 Results
Fourth Quarter 2025 Results Net Income Diluted EPS 2025 Q4 Highlights $24.8 million $26.9 million $0.88 $0.95 • Diluted EPS increase of 7.3% over Q3; Adjusted Diluted EPS1 increase of 14.5% over Reported Adjusted1 Reported Adjusted1 Q3 ROAA PTPP ROAA1 • Total revenue3 of $110.2 million, a 2.7% incre
Slide 9: Loan Portfolio Trends
Loan Portfolio Trends Portfolio Composition Originations, Paydowns & Payoffs Quarter Highlights 1.4% • Average balances up 8.5%, annualized over $600 Q3 7.5% $ in millions $500 • 3% decrease in line utilization over Q3 • Low overall regulatory CRE1 to total capital $400 level of 113% 18.3% $300 • Of
Slide 10: Deposit Trends
Deposit Trends Average Deposit Composition Quarter Highlights ($ in thousands) • EOP balances up 0.1%, annualized over Q3 • Continued mix shift Q4 2025 23.2% 11.9% 5.3% 41.3% 18.2% $7,075,390 Q3 2025 23.6% 12.0% 5.4% 39.9% 19.0% $7,080,213 ◦ MMKT increased to 41.3% from 39.9% at Q3 Q2 2025 24.0% 11.
Slide 11: Net Interest Income & Net Interest Margin Trends
Net Interest Income & Net Interest Margin Trends Net Interest Income .3% Quarter Highlights YoY Growth 8 ($ in thousands) $83,461 • NII growth of 12.3%, annualized over Q3 $80,953 • Stability of NIM - trailing 13 qtrs above 4.00% $78,499 $77,047 ◦ Balance sheet composition $74,478 • Growth in NIM to
Slide 12: Noninterest Income Trends
Noninterest Income Trends Noninterest Income Composition Quarter Highlights ($ in thousands) • 645% growth in loan syndication and Q4 2025 $12,102 $4,544 $2,744 $2,116 $1,515 $3,723 $26,744 swap revenue over Q3, partially offset by 4% decline but seasonally strong Q3 2025 $12,641 $4,402 $2,671 $2,16
Slide 13: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense Composition Quarter Highlights ($ in thousands) • Noninterest expenses increased 4.6% Q4 2025 $43,520 $9,576 $16,100 $72,041 compared to Q3 primarily driven by merger related expenses and other noninterest Q3 2025 $44,822 $9,591 $13,669 $68,901 expenses
Slide 14: Asset Quality Trends
Asset Quality Trends Allowance for Credit Losses Quarter Highlights ($ in thousands) $91,790 • Classified loans trended down 5% over Q3 $88,221 $82,993 $84,040 $85,016 • Loan loss provisioning in Q4: 1.38% 1.42% 1.28% 1.26% 1.27% ◦ Impacts from net portfolio downgrades Q4 2024 Q1 2025 Q2 2025 Q3 202
Slide 15: Asset Quality Trends (cont'd)
Asset Quality Trends (cont’d) Provision for Credit Losses & Credit Risk-Adjusted Returns Net Charge-Offs NIM NCO Earning Credit ($ in thousands) $27,550 $28,255 Assets Adj.2 Adjusted NIM1 $24,600 $18,050 $18,247 $20,377 1 Year 4.10% (0.43)% 0.07% 3.74% Average $7,810 $3,000 $3,219 3 Year 4.13% (0.29
Slide 16: Capital and Liquidity
Capital and Liquidity Total Capital Ratio Common Equity Tier 1 Capital Ratio Quarter Highlights 15.94% 15.81% • Wholesale funding reliance of 6% 15.42% 15.52% 15.73% 13.78% 13.79% 14.12% • Cash to total assets of 8% 13.18% 13.26% 11.0% • AOCI & HTM unrealized loss, net of tax to total equity of 3% 8
Slide 17: Consistent Long Term Strategy
Consistent Long Term Strategy 1 2 3 4 5 Key Southwest and Western C&I Focused Commercial High Service Fee to Revenue Core Deposit Franchise Operating Strategy Growth Markets Bank Mix Focused on Organic Loan and Deposit Growth in Targeted Relationship Driven C&I Banking Markets Revenue Diversificatio
Slide 18: 2026 Full Year Standalone Financial Outlook
2026 Full Year Standalone Financial Outlook1 Business Driver FY 2026 Notes and Assumptions Loans (AVG) Ratable Mid Single Digit Growth Rate Primarily driven by net C&I production Deposits (AVG) Ratable Mid Single Digit Growth Rate Loan to Deposit ratio in mid 90’s Investment Securities (AVG) Relativ
Slide 19: Appendix
Appendix FirstSun Capital Bancorp | 19
Slide 20: C&I Portfolio by Industry
C&I Portfolio by Industry Balance Change Average % of Total C&I Loans Industry1 ($ in millions) Q4 2025 from Q3 2025 Loan Size Finance and Insurance $527.3 10.6% $4.3 18% Information (Technology, Media and Telecommunications) 368.7 (4.9)% 4.2 13% Healthcare 295.1 (7.9)% 0.5 10% Manufacturing 284.1 (
Slide 21: Total Criticized Loans Held-for-Investment
Total Criticized Loans Held-for-Investment 1 Criticized Loans by Risk Grade Criticized Loans by Industry ($ in millions) ($ in millions) 4.7% $58.5 4.5% Construction 4.4% $53.4 4.3% $311.7 4.1% $22.4 $291.7 Real Estate and Rental and Leasing $285.2 $38.8 $278.8 $9.7 $263.5 $58.7 $37.1 Healthcare $50
Slide 22: Granular Deposit Base
Granular Deposit Base1 ~ 63%2 of Total Deposits by State3 Deposits are $7.1 Billion FDIC-Insured Total Deposits ~ 71%2 of Total Deposits are $0.8B FDIC-Insured + Colorado $1.6B Collateralized 11 branches Kansas 23 branches $0.3B Customer Base Granular Deposit Base California $1.2B $0.5B 129,000 $27,
Slide 23: Financial Summary
Financial Summary As of and for the three months ended As of and for the year ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands, except per share amounts) 2025 2025 2025 2025 2024 2025 2024 Net interest income $ 83,461 $ 80,953 $ 78,499 $ 74,4
Slide 24: Non-GAAP Reconciliation
Non-GAAP Reconciliation As of and for the three months ended As of and for the year ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands, except per share amounts) 2025 2025 2025 2025 2024 2025 2024 Tangible stockholders’ equity to tangible asset
Slide 25: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the year ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands, except per share amounts) 2025 2025 2025 2025 2024 2025 2024 Tangible book value per share: Total s
Slide 26: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the year ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands, except per share amounts) 2025 2025 2025 2025 2024 2025 2024 Adjusted pre-tax pre provision return
Slide 27: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the year ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands, except per share amounts) 2025 2025 2025 2025 2024 2025 2024 Return on average tangible stockholder
Slide 28: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the years ended December 31, December 31, December 31, December 31, December 31, ($ in thousands) 2025 2024 2023 2022 2021 Credit adjusted net interest margin: Net interest income (GAAP) $ 317,391 $ 296,910 $ 293,431 $ 241,632 $ 155,233 Less: Net charge
Slide 29: FirstSun
FirstSun Soak Capital
FirstSun Capital Bancorp — Q4 2025 Earnings Presentation on 6ix