Firstsun Capital Bancorp · NASDAQ:FSUN
Firstsun Capital Bancorp — Q4 2024 Earnings Presentation
24 slides from Firstsun Capital Bancorp's earnings presentation, Jan 27, 2025
Slide 1: 4Q2024 Earnings Presentation
4Q2024 Earnings Presentation January 27, 2025 FirstSun Capital Bancorp NASDAQ: FSUN
Slide 2: Disclaimers
FirstSun Capital Bancorp | 2 Disclaimers Forward Looking Statements This presentation may contain forward-looking statements by FirstSun Capital Bancorp (the “Company”) within the meaning of the federal securities laws. Forward-looking statements expressing management’s current expectations, forecas
Slide 3: Corporate Profile
FirstSun Capital Bancorp | 3 Corporate Profile Operating in 5 of the Top 10 Fastest Growing MSAs1 # 1 Austin, TX 2 Dallas, TX 3 Orlando, FL 4 Charlotte, NC 5 Houston, TX 6 Tampa, FL 7 Nashville, TN 8 San Antonio, TX 9 Phoenix, AZ 10 Atlanta, GA With a Presence in 7 of the 10 Largest MSAs in the Sout
Slide 4: Unique High Growth Franchise
FirstSun Capital Bancorp | 4 Unique High Growth Franchise Universe Size Attractive Footprint3 Strong Fee Income Lending Focus Growth 42 Banks 1 Bank Banks West of the Mississippi River Banks with Total Assets $5B - $20B MRQ Fee Income / Rev. > 20% Specialized C&I Lending1 Loan Growth2 > 10% With sca
Slide 5: Investment Thesis — Focused Strategy
FirstSun Capital Bancorp | 5 Investment Thesis — Focused Strategy Southwest & Western geography with a mix of metro and community markets C&I business focus with a disciplined and careful CRE exposure to core customers in our geography Vertical lending expertise provides true alternative to larger b
Slide 6: Full Year 2024 Results
FirstSun Capital Bancorp | 6 Efficiency Ratio 68.28% 64.13% Reported Adjusted1 Full Year 2024 Results 2024 Highlights • Reported Net Income of $75.6 million, or diluted EPS of $2.69, on Revenue of $386.7 million • Strong adjusted PTPP ROAA of 1.56%, ROAA of 0.96%, ROTCE of 8.34% • Maintained a healt
Slide 7: Fourth Quarter 2024 Highlights
FirstSun Capital Bancorp | 7 Fourth Quarter 2024 Highlights Q4 PerformanceNet Income $16.4 million $24.3 million Reported Adjusted1 Diluted EPS $0.58 $0.86 Reported Adjusted1 PTPP ROAA 1.24% 1.79% Reported Adjusted1 Fee Income to Revenue 21.9% ROAA 0.81% 1.21% Reported Adjusted1 Net Interest Margin
Slide 8: Loan Portfolio Trends
FirstSun Capital Bancorp | 8 Loan Portfolio Trends Portfolio Composition 39.2% 11.0%11.8% 7.2% 18.5% 8.7% 3.6% Commercial and Industrial Commercial Real Estate: Owner Occupied Commercial Real Estate: Non-Owner Occupied Multifamily, Construction, and Land Residential Real Estate Public Finance Consum
Slide 9: Deposit Trends
FirstSun Capital Bancorp | 9 Deposit Trends Average Deposit Composition $6,627,469 $6,578,801 $6,468,574 $6,352,029 $6,455,041 Noninterest-Bearing Demand Deposit Accounts Interest-Bearing Demand Accounts Savings Accounts and Money Market Accounts NOW Accounts Certificate of Deposit Accounts Q4 2024
Slide 10: Net Interest Income & Net Interest Margin Trends
FirstSun Capital Bancorp | 10 NIM Bridge 4.10% (0.17)% (0.03)% 0.21 4.11% Q3 2024 Loans All Other Assets Cost of Funds Q4 2024 NIM, Yield & Cost Loans Yield Net Interest Margin Cost of Funds Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2.00% 4.00% 6.00% 8.00% Net Interest Income $72,069 $70,806 $72,899 $
Slide 11: Noninterest Income Trends
FirstSun Capital Bancorp | 11 Noninterest Income Trends Service Fee Revenue Composition $21,635 $22,075 $23,274 $22,808 $17,221 $9,631 $8,838 $11,043 $9,502 $4,883 $3,982 $3,748 $3,631 $3,468 $3,075 $2,706 $2,738 $2,950 $2,759 $2,920 $2,219 $2,560 $2,372 $2,344 $2,468 $1,436 $1,395 $1,493 $1,463 $1,
Slide 12: Noninterest Expense Trends
FirstSun Capital Bancorp | 12 Noninterest Expense Trends Noninterest Expense Composition $73,673 $64,664 $63,875 $61,828 $52,308 $38,498 $39,306 $39,828 $37,353 $30,158 $9,865 $9,121 $8,701 $8,595 $8,449 $8,010 $15,869 $13,953 $13,648 $12,576 $12,872 Salaries and Benefits Occupancy and Equipment Amo
Slide 13: Asset Quality Trends
FirstSun Capital Bancorp | 13 Asset Quality Trends Net Charge-Offs (Recoveries) $4,743 $17,429 $2,009 $1,401 $(462) Commercial and Industrial Commercial Real Estate, Residential Real Estate, and Consumer Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Allowance for Credit Losses $80,398 $79,829 $78,960 $83,
Slide 14: Capital and Liquidity
FirstSun Capital Bancorp | 14 Capital and Liquidity Total Capital Ratio 13.25% 14.73% 14.95% 15.25% 15.42% Total Capital Ratio Capital Operating Threshold Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Common Equity Tier 1 Capital Ratio 11.10% 12.54% 12.80% 13.06% 13.18% CET1 Capital Operating Threshold Q4
Slide 15: Consistent Long Term Strategy
FirstSun Capital Bancorp | 15 Consistent Long Term Strategy Key Southwest and Western Growth Markets C&I Focused Commercial Bank High Service Fee to Revenue Mix Core Deposit Franchise Operating Strategy Focused on Organic Loan and Deposit Growth in Targeted Markets Operating in 5 of 10 Fastest Growi
Slide 16: 2025 Full Year Outlook
FirstSun Capital Bancorp | 16 2025 Full Year Outlook Business Driver FY 2025* Notes Loans (EOP) Mid Single Digit Growth Rate Primarily driven by net C&I production Deposits (EOP) Mid Single Digit Growth Rate Loan to Deposit ratio in mid 90’s Investment Securities No Change Maintain strategic focus o
Slide 17: Appendix
FirstSun Capital Bancorp | 17 Appendix
Slide 18: Granular Deposit Base
FirstSun Capital Bancorp | 18 ~ 65%1 of Total Deposits are FDIC-Insured Granular Deposit Base Consumer Deposits - $3.4B as of December 31, 2024 Business Deposits - $2.8B as of December 31, 2024 Customer Base 135,628 Consumer Accounts Granular Deposit Base $25,000 Avg. Account Balance 69 Retail Branc
Slide 19: Financial Summary
FirstSun Capital Bancorp | 19 Financial Summary As of and for the quarter ended ($ in thousands, except per share amounts) December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 Net interest income $ 77,047 $ 76,158 $ 72,899 $ 70,806 $ 72,069 Provision for credit losses
Slide 20: Non-GAAP Reconciliation
FirstSun Capital Bancorp | 20 Non-GAAP Reconciliation As of and for the quarter ended As of and for the year ended ($ in thousands, except per share amounts) December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Tangible stockholders’
Slide 21: Non-GAAP Reconciliation (cont'd)
FirstSun Capital Bancorp | 21 Non-GAAP Reconciliation (cont’d) As of and for the quarter ended As of and for the year ended ($ in thousands, except per share amounts) December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Tangible book
Slide 22: Non-GAAP Reconciliation (cont'd)
FirstSun Capital Bancorp | 22 Non-GAAP Reconciliation (cont’d) As of and for the quarter ended As of and for the year ended ($ in thousands, except per share amounts) December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Adjusted pre-
Slide 23: Non-GAAP Reconciliation (cont'd)
FirstSun Capital Bancorp | 23 Non-GAAP Reconciliation (cont’d) As of and for the quarter ended As of and for the year ended ($ in thousands, except per share amounts) December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Return on ave
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