Firstsun Capital Bancorp · NASDAQ:FSUN
Firstsun Capital Bancorp — Q1 2026 Earnings Presentation
31 slides from Firstsun Capital Bancorp's earnings presentation, Apr 28, 2026
Slide 1: FirstSun Capital Bancorp 1Q2026 Earnings Presentation
FirstSun Capital Bancorp NASDAQ: FSUN 1Q2026 Earnings Presentation April 27, 2026
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This presentation contains forward-looking information and statements by FirstSun Capital Bancorp (“FirstSun” or the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by
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: Disclaimers (cont'd)
Disclaimers (cont’d) Deposits Classification Previously, deposit amounts related to certain NOW accounts with limited monthly transaction activity were able to be reclassified to money market accounts to reduce reserve requirements at the Federal Reserve. As there is no longer any impact to reserve
Slide 5: Corporate Profile as of March 31, 2026
Corporate Profile as of March 31, 2026 Operating in five of the Top 10 With a Presence in seven of the 10 Largest Franchise Footprint Fastest Growing MSAs1 MSAs in the Southwest & Western US2 # # 1 Austin, TX 1 Southern CA3 2 Dallas, TX 2 Dallas, TX $8.6B 3 Orlando, FL 3 Houston, TX Total Assets 4 C
Slide 6: Unique High Growth Franchise
Unique High Growth Franchise Universe Strong Service Lending Attractive Size Fee Revenue Focus Growth Footprint3 ~ 50 Banks 1 Bank Attractive core deposit funded Banks with franchise with MRQ Service Fee With scale in six of the proven ability to Total Assets Specialized Loan Growth2 Revenue / Rev.
Slide 7: Investment Thesis — Focused Strategy
Investment Thesis — Focused Strategy Mix of community and high C&I business focus with a Vertical lending expertise growth metro markets with disciplined and careful CRE provides true alternative to emphasis on Southwest and exposure to core customers in larger banks Western US our geography Financi
Slide 8: First Quarter 2026 Results
First Quarter 2026 Results Net Income Diluted EPS 2026 Q1 Highlights $21.6 million $23.7 million $0.76 $0.84 • EOP loan growth2 of 16.2%, annualized over Reported Adjusted1 Reported Adjusted1 Q4 • Continued strong NIM of 4.25%, up 7 basis ROAA PTPP ROAA1 points over Q4 1.04% 1.14% 1.67% 1.80% • Noni
Slide 9: Loan Portfolio Trends
Loan Portfolio Trends Portfolio Composition Originations, Paydowns & Payoffs Strategy and Highlights 1.3% • Strategic emphasis on C&I lending $600 7.1% • Seek to maintain variable vs fixed portfolio $ in millions $500 mix $400 ◦ ~ 65% variable (~ 55% repricing w/in 1 17.5% year): $300 45.5% ▪ ~ 40%
Slide 10: Deposit Trends
Deposit Trends Average Deposit Composition ($ in millions) Q1 2026 23.1% 21.7% 5.4% 32.6% 17.2% $7,030 Strategy and Highlights • Strategic emphasis on high quality relationship- Q4 2025 24.0% 20.7% 5.4% 31.8% 18.1% $7,075 based core deposits to drive organic balance sheet Q3 2025 23.2% 20.3% 5.6% 31
Slide 11: Net Interest Income & Net Interest Margin Trends
Net Interest Income & Net Interest Margin Trends Net Interest Income 1.1% Quarter Highlights YoY Growth 1 ($ in thousands) • Growth in NIM to 4.25% largely driven by funding cost $83,461 improvement of 9 basis points $82,779 $80,953 • Stability of NIM - trailing 14 qtrs above 4.00% $78,499 ◦ Driven
Slide 12: Noninterest Income Trends
Noninterest Income Trends Noninterest Income Composition Strategy and Highlights ($ in thousands) • Strategic emphasis on diversified Q1 2026 $14,315 $4,613 $2,713 $2,096 $1,489 $1,949 $27,175 revenue mix, targeting > 20% noninterest income / total revenue Q4 2025 $12,102 $4,544 $2,744 $2,116 $1,515
Slide 13: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense Composition ($ in thousands) Q1 2026 $47,356 $10,006 $14,791 $75,341 Q4 2025 $43,520 $9,576 $16,100 $72,041 Q3 2025 $44,822 $9,591 $13,669 $68,901 Strategy and Highlights Q2 2025 $43,921 $9,541 $13,785 $68,110 • Expect to continue investment in building
Slide 14: Asset Quality Trends
Asset Quality Trends Allowance for Credit Losses Quarter Highlights ($ in thousands) $91,790 • Classified loans remained relatively flat from Q4 $82,993 $84,040 $85,016 $82,955 • Loan loss provisioning in Q1, impacted by: 1.42% 1.28% 1.27% ◦ Net portfolio downgrades 1.26% 1.20% ◦ Growth in loan port
Slide 15: Asset Quality Trends (cont'd)
Asset Quality Trends (cont’d) Provision for Credit Losses & Credit Risk-Adjusted Returns Net Charge-Offs NIM NCO Earning Credit ($ in thousands) Assets Adj.2 Adjusted NIM1 $27,550 $28,255 $24,600 $18,050 $18,247 $20,377 1 Year 4.14% (0.58)% 0.09% 3.65% Average $7,810 $8,250 $10,561 3 Year 4.11% (0.3
Slide 16: Capital and Liquidity
Capital and Liquidity Total Capital Ratio Common Equity Tier 1 Capital Ratio Strategy and Highlights 15.94% 15.81% • Liquidity & IRR 15.52% 15.73% 15.29% 13.78% 13.79% 14.12% 13.77% ◦ Seek to maintain historical solid 13.26% liquidity positioning across multiple 11.0% sources 8.0% ◦ Seek to maintain
Slide 17: Consistent Long-Term Strategy
Consistent Long-Term Strategy 1 2 3 4 5 Southwest and Western C&I Focused Commercial High Service Fee to Revenue Core Deposit Franchise Operating Strategy Growth Market Emphasis Bank Mix Focused on Organic Loan and High Quality, Attractive Long-Term Solid Core Earnings Progression Deposit Growth in
Slide 18: First Foundation Merger Update
First Foundation Merger Update FirstSun Capital Bancorp | 18
Slide 19: First Foundation Inc. Quarterly Snapshot
First Foundation Inc. Quarterly Snapshot As of and for the three months ended Commentary March 31, December 31, March 31, ($ in thousands) 2026 2025 2025 • FirstSun closed its merger with First Foundation on April 1, Income Statement: 2026 Net interest income $ 31,166 $ 39,444 $ 51,799 • Financial s
Slide 20: Balance Sheet Repositioning
Balance Sheet Repositioning1 Balance Sheet Repositioning Progress Pro Forma Combined Financial Information After Repositioning Completed by FFWM FSUN FFWM Planned Targeted at through Planned for as of as of Remaining Merger March 31, Q2 2026 March 31, March 31, Repositioning Pro Forma ($ in millions
Slide 21: 2026 Full Year Financial Outlook
2026 Full Year Financial Outlook1 Inclusive of First Foundation beginning April 1st Business Driver Full Year 2026 Outlook Key Assumptions and Further Expectations Key Assumptions: Loans (Avg balances) • The outlook includes estimates of acquisition-related purchase accounting Relatively stable to a
Slide 22: Appendix
Appendix FirstSun Capital Bancorp | 22
Slide 23: C&I Portfolio by Industry
C&I Portfolio by Industry Balance Change Average % of Total C&I Loans Industry1 ($ in millions) Q1 2026 from Q4 2025 Loan Size Finance and Insurance $507.6 (3.7)% $4.2 16% Information (Technology, Media and Telecommunications) 377.6 2.4% 3.7 12% Healthcare 323.0 9.4% 0.6 10% Real Estate and Rental a
Slide 24: Total Criticized Loans Held-for-Investment
Total Criticized Loans Held-for-Investment 1 Criticized Loans by Risk Grade Criticized Loans by Industry ($ in millions) 4.7% ($ in millions) 4.4% $42.3 4.3% 4.3% Construction $58.5 4.1% $311.7 $1.4 $42.8 $291.7 $296.3 Transportation and Warehousing $43.4 $278.8 $9.7 $17.6 $263.5 $58.7 $38.6 Real Es
Slide 25: Granular Deposit Base
Granular Deposit Base1 ~ 65%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 22 branches $0.2B Customer Base Granular Deposit Base California $1.2B $0.5B 127,600 $28,
Slide 26: Financial Summary
Financial Summary As of and for the three months ended March 31, December 31, September 30, June 30, March 31, ($ in thousands, except per share amounts) 2026 2025 2025 2025 2025 Net interest income $ 82,779 $ 83,461 $ 80,953 $ 78,499 $ 74,478 Provision for credit losses 8,250 6,200 10,100 4,500 3,8
Slide 27: Non-GAAP Reconciliation
Non-GAAP Reconciliation As of and for the three months ended March 31, December 31, September 30, June 30, March 31, ($ in thousands, except per share amounts) 2026 2025 2025 2025 2025 Tangible stockholders’ equity to tangible assets: Total stockholders' equity (GAAP) $ 1,175,507 $ 1,153,356 $ 1,127
Slide 28: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the three months ended March 31, December 31, September 30, June 30, March 31, ($ in thousands, except per share amounts) 2026 2025 2025 2025 2025 Adjusted net income: Net income (GAAP) $ 21,583 $ 24,807 $ 23,174 $ 26,386 $ 23,569 Add: Adjustments Merge
Slide 29: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the three months ended March 31, December 31, September 30, June 30, March 31, ($ in thousands, except per share amounts) 2026 2025 2025 2025 2025 Adjusted return on average stockholders’ equity Return on average stockholders' equity (ROAE) (GAAP) 7.47
Slide 30: Non-GAAP Reconciliation (cont'd)
Non-GAAP Reconciliation (cont’d) As of and for the twelve months ended March 31, March 31, March 31, March 31, March 31, ($ in thousands) 2026 2025 2024 2023 2022 Credit adjusted net interest margin: Net interest income (GAAP) $ 325,692 $ 300,582 $ 290,120 $ 274,464 $ 158,101 Less: Net charge-off’s
Slide 31: FirstSun
FirstSun Soak Capital
FirstSun Capital Bancorp — Q1 2026 Earnings Presentation on 6ix