Why FirstSun Capital Bancorp Stock Dived by Almost 17% Today

Group 1 - FirstSun Capital, owner of Sunflower Bank, reported a quarterly earnings miss and announced a merger, leading to a nearly 17% drop in stock price [1][6] - The company reported total revenue of $107.3 million for Q3, an increase from $98.2 million in the same period of 2024, but net income slightly decreased to under $23.2 million, or $0.84 per share, compared to $22.4 million a year ago [2][3] - Analysts had expected revenue of $106.7 million and adjusted profitability of $0.89 per share, indicating a mixed quarter for FirstSun [3] Group 2 - FirstSun announced a merger with First Foundation in an all-stock transaction, where First Foundation shareholders will receive slightly more than 0.16 shares of FirstSun for each share they hold [4] - The total transaction value of the merger is approximately $785 million, with current FirstSun investors expected to own just under 60% of the merged entity, which will retain the FirstSun name [5] - The merger is subject to approval from shareholders and regulatory bodies, with an expected closing in early Q2 of the following year [5]