Firstsun Capital Bancorp(US:FSUN)2026-01-26 21:33Financial Performance - Net income for Q4 2025 was $24.8 million, or $0.88 per diluted share, compared to $16.4 million, or $0.58 per diluted share in Q4 2024[1][21] - Adjusted net income for Q4 2025 was $26.9 million, or $0.95 per diluted share, compared to $24.3 million, or $0.86 per diluted share in Q4 2024[1][3] - Net income for the year ended December 31, 2025, was $97,936,000, compared to $75,628,000 for the year ended December 31, 2024, reflecting a growth of 29.4%[57] - Diluted earnings per share for Q4 2025 was $0.88, compared to $0.58 in Q4 2024, indicating a significant increase of 51.7%[58] - Adjusted net income (non-GAAP) for the year ended December 31, 2025, was $100,505 thousand, compared to $87,744 thousand for the previous year, reflecting a year-over-year increase of 14.4%[72] - Adjusted diluted earnings per share (non-GAAP) rose to $3.56 for the year ended December 31, 2025, compared to $3.13 in 2024, marking an increase of 13.7%[73] Revenue and Income Sources - Total revenue for 2025 was $419.3 million, with net interest income of $317.4 million and noninterest income of $101.9 million[29][30] - Noninterest income for Q4 2025 totaled $26.7 million, representing 24.3% of total revenue[12][13] - Net interest income for Q4 2025 was $83,461,000, an increase from $77,047,000 in Q4 2024, representing a growth of 8.5% year-over-year[55] - Noninterest income for Q4 2025 reached $26,744,000, up from $21,635,000 in Q4 2024, marking a 23.5% increase[58] Asset and Loan Growth - Average loan growth was 8.5% annualized in Q4 2025, with total loans at $6.7 billion[5][17] - Total loans increased to $6.7 billion at December 31, 2025, up by $0.3 billion or 4.7% from $6.4 billion in 2024, driven by growth in C&I loans[34] - Total assets as of December 31, 2025, were $8,485,162,000, an increase from $8,097,387,000 as of December 31, 2024, representing a growth of 4.8%[57] Capital and Equity - Common equity tier 1 risk-based capital ratio was 14.12% as of December 31, 2025, indicating strong capital ratios[19] - Common equity tier 1 risk-based capital ratio stood at 14.12% as of December 31, 2025, with total risk-based capital ratio at 15.73% and tier 1 leverage ratio at 12.75%[36] - Book value per share increased to $41.36 at December 31, 2025, up by $3.78 from the previous year, while tangible book value per share rose to $37.83, an increase of $3.89[36] - Total stockholders' equity (GAAP) increased to $1,153,356 thousand as of December 31, 2025, compared to $1,041,366 thousand a year earlier, reflecting a growth of 10.74%[71] Efficiency and Management - The efficiency ratio for Q4 2025 was 65.37%, compared to 64.22% for the prior quarter[15] - The efficiency ratio for 2025 improved to 64.82% from 68.28% in 2024, while the adjusted efficiency ratio was 64.17% compared to 64.13% in 2024[32] - The efficiency ratio improved to 65.37% in Q4 2025 from 74.66% in Q4 2024, indicating better cost management[55] - Adjusted efficiency ratio (non-GAAP) improved to 63.36% in Q4 2025 from 64.00% in Q3 2025[74] Credit Quality - The provision for credit losses in 2025 was $24.6 million, a decrease of $3.0 million compared to 2024[26] - The company reported a provision for credit losses of $6,200,000 in Q4 2025, down from $10,100,000 in Q3 2025[59] - Nonperforming loans amounted to $60,771 as of December 31, 2025, down from $69,641 on September 30, 2025[70] - The ratio of nonperforming loans to total loans was 0.91% as of December 31, 2025, compared to 1.04% on September 30, 2025[70] Merger and Future Plans - The company is pursuing a merger with First Foundation Inc., with regulatory and stockholder approvals pending[46] - The anticipated benefits of the merger include cost savings and synergies, although there are risks associated with the integration process[46] - A conference call to discuss the fourth quarter and full year 2025 financial results is scheduled for January 27, 2026[41]