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FirstSun Capital Bancorp (FSUN) has filed its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net income of $75.6 million, or $2.69 per diluted share, a decrease from $103.5 million, or $4.08 per diluted share, in the previous year.
Total assets increased to $8.1 billion from $7.9 billion at the end of 2023, with total loans growing 1.7% to $6.4 billion.
Total deposits rose to $6.7 billion, reflecting a 5.8% increase from the previous year.
Net interest income was $296.9 million, up slightly from $293.4 million in 2023, while the net interest margin decreased to 4.06% from 4.23%.
Noninterest income totaled $89.8 million, driven by increases in treasury management service fees and mortgage banking services.
The provision for credit losses increased to $27.6 million, with net charge-offs rising to $20.4 million, primarily due to a specific commercial and industrial loan.
Noninterest expenses increased to $264.0 million, including $13.2 million in terminated merger-related expenses.
The company's return on average total assets was 0.96%, and return on average stockholders' equity was 7.56%.
FirstSun's capital ratios remained strong, with a total risk-based capital ratio of 15.42% and a Tier 1 leverage ratio of 12.11%.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FirstSun Capital Bancorp annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.