Firstsun Capital Bancorp · NASDAQ:FSUN
Firstsun Capital Bancorp — Investor Presentation (September 2022)
18 slides from Firstsun Capital Bancorp's investor presentation, Sep 7, 2022
Slide 1: FSUN Investor Relations Update
FSUN Investor Relations Update Page 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Page 2 Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, but are not limited to, statements regarding our outlook,
Slide 3: Unique High Growth Franchise
Page 3 Unique High Growth Franchise Sour ce: S&P Global Market Intelligence; Financial data as of 6/30/2022 Not e: MSA’s ranked by population size within the Southwest and West regions as defined by S&P Global Market Intelligence (1) Loan Gr owth represents CAGR calculated from 12/31/2017 Attractive
Slide 4: Financial Summary
Page 4 For the Qtr For the Year Ended '19 - '21 Ended FY 2019A FY 2020A FY 2021A CAGR Q2 2022A Balance Sheet ($mm) Total Assets $4,185 $4,995 $5,667 16.4% $7,061 Total Net Loans 3,060 3,799 3,990 14.2% 5,332 Deposits 3,490 4,154 4,855 17.9% 5,933 Tang. Common Equity 387 443 483 11.7% 615 Loans/ Depo
Slide 5: Situated in Top-Tier Growth Markets
Page 5 Situated in Top-Tier Growth Markets (5 of the Top 10 in the U.S.) 2010 – 2022 Population Growth % Source: S&P Global Market Intelligence. Enhancing Our Presence in High Growth Markets Denver, CO Boulder, CO Phoenix, AZ Austin, TX Houston, TX San Antonio, TX Dallas, TX 2022 Median Household In
Slide 6: Regional Operations & Scale
Page 6 Desert Mountain Loans: $1,562 Deposits: $1,210 Branches: 15 FTE: 139 Regional Operations & Scale Regional Presidents / Leaders are local Focused on small to mid-sized businesses and business owners Leadership team incentivized Local credit oversight with both local and centralized und
Slide 7: Key Takeaways
Page 7 Key Takeaways S tr a te g y O p e ra ti n g Solid core earnings progression & growth momentum, moving from investment / build phase to realization phase ‒ Past 5 years of repositioning to C&I and reduction in CRE exposure delivering NIM expansion & fee income ‒ Retooled infrastructure has cre
Slide 8: Strong Organic Growth Underpinning Recent Operating Trends
Page 8 $143 $229 2018Y 2022Q2 (Annualized) Non Interest Expense Strong Organic Growth Underpinning Recent Operating Trends $2,859 $3,182 $3,789 $4,074 $5,423 $2,086 $2,496 $3,014 $3,466 $4,498 2018Y 2019Y 2020Y 2021Y 2022Q2 Total Loans (excl. PPP) Loans excl. PPP, HFS & NOO CRE $128 $127 $136 $155 $
Slide 9: Loan Composition: Strong C&I Growth while Significantly Lowering CRE
Page 9 Construction 6% Residential R.E. 15% Multifamily 1% Owner Occupied C.R.E 12% Non-Owner Occupied C.R.E. 16% Commercial & Industrial 36% Consumer & Other 3% Oblig. of St & Poli. Subdivisions 11% Construction 4% Residential R.E. 21% Multifamily 1% Owner Occupied C.R.E 12% Non-Owner Occupied C.R.
Slide 10: C&I Relationship Banking: Vertical Focus in Growing Markets
Page 10 C&I Relationship Banking: Vertical Focus in Growing Markets C&I relationships come with higher margins, fees and deposits Diversified verticals in specialized markets, competing w/ bigger competitors Robust client relationships – proven track record of beating bigger competitors due to
Slide 11: Organic Growth Strategy in New Markets
Page 11 $0 $1,231 $0 $500 $1,000 $1,500 Dec 2017 June 2022 $394 $613 $0 $200 $400 $600 $800 Dec 2017 June 2022 $0.6 $0.8 $1.3 $1.7 $2.0 Organic Growth Strategy in New Markets Source: S&P Global Market Intelligence & Company documents. (1) Completed acquisition of Strategic Growth Bancorp (SGB) in Ju
Slide 12: Asset Quality Summary
Page 12 84% 204% 133% 167% 189% 2018 2019 2020 2021 2022Q2 0.92% 0.50% 0.79% 0.60% 0.50% 2018 2019 2020 2021 2022Q2 0.00% 0.13% 0.11% 0.09% (0.04%) 2018 2019 2020 2021 2022Q2 0.94% 0.92% 1.33% 1.20% 1.05% 2018 2019 2020 2021 2022Q2 Source: S&P Global Market Intelligence; Financial data as of the mos
Slide 13: Revenue Diversification
Page 13 Revenue Diversification Source: S&P Global Market Intelligence & Company documents Note: Data for 2022Q2 reflects Pioneer merger, w hich closed on April 1st, 2022. 1) Includes U.S. Banks headquartered in the Midwest and Southwest w ith total assets between $5 billion and $10 billion with Cor
Slide 14: Funding Composition: Core, Low-Cost, Low Beta Deposits
Page 14 0.37% 0.28% 0.22% 0.21% 0.43% 0.31% 0.24% 0.28% 2020Q4 2021Q2 2021Q4 2022Q2 FSUN Peer Median Demand Deposits 22%NOW & Other Trans. Accts 4% MMDA & Other Savings 60% Retail Time Deposits 11% Jumbo Time Deposits 3% Demand Deposits 33% NOW & Other Trans. Accts 3% MMDA & Other Savings 54% Retail
Slide 15: Creating a High-Growth, High-Performing Franchise
Page 15 # of Branches 59 72 60 Total Assets ($B) $11.3 $7.1 $6.9 Tangible Common Equity / Tangible Assets (4) 7.8% 8.9% 7.4% Loans (3) / Deposits 84% 92% 87% Cost of Deposits 0.22% 0.21% 0.19% Noninterest Bearing Deposits / Deposits 30% 33% 31% Regulatory CRE / TRBC 222% 167% 205% Most Recent Quarte
Slide 16: Appendix
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Slide 17: Non-GAAP Financial Measures and Reconciliations
Page 17 Non-GAAP Financial Measures and Reconciliations Source: Company Documents $'s in millions For the Quarter Ended 2019 2020 2021 June 30, 2022 Tangible common equity: Total stockholders' equity (GAAP) 430$ 486$ 524$ 728$ Less: Goodwill and other intangible assets Goodwill (33) (33) (33) (93) O
Slide 18: Non-GAAP Financial Measures and Reconciliations (continued)
Page 18 Non-GAAP Financial Measures and Reconciliations (continued) Source: Company Documents $'s in millions For the Year Ended For the Quarter Ended 2018 2019 2020 2021 June 30, 2022 Total loans excluding PPP, HFS and NOO CRE: Total loans 2,859$ 3,182$ 4,040$ 4,141$ 5,449$ Less: PPP loans - - (251
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