FirstSun Capital Bancorp Reports Third Quarter 2023 Results
October 27, 2023
Third Quarter 2023 Highlights:
- Net income of $25.2 million, $1.00 per diluted share
- Net interest margin of 4.23%
- Return on average total assets of 1.34%
- Return on average stockholders’ equity of 12.03%
- Average deposit growth of 24.0% annualized
- Loan growth of 1.6% annualized
- 20.3% noninterest income to total revenue1
DENVER -- FirstSun Capital Bancorp (“FirstSun”) (OTCQX: FSUN) reported net income of $25.2 million for the third quarter of 2023 compared to net income of $26.5 million for the third quarter of 2022. Earnings per diluted share were $1.00 for the third quarter of 2023 compared to $1.04 for the third quarter of 2022.
Neal Arnold, FirstSun’s President and Chief Executive Officer, commented, “We are pleased to deliver another strong quarter as our focus on growing our C&I and consumer relationships across all of our Southwest markets continues to yield favorable results. Among the highlights this quarter were our strong deposit growth and a stable net interest margin of 4.23%, amidst sharply declining trends in the banking industry as a whole. We believe our balanced business mix, our consistent focus on carefully growing our C&I and consumer businesses as well as our service fee businesses, along with our strong capital base and loan portfolio credit quality, provides us with the flexibility to continue to be opportunistic in this environment adding business relationships across the footprint. I want to thank all of our hard-working employees across all of our markets as their dedication to customer service has continued to drive our business growth and success this year.”
The full earnings release can be viewed on the FirstSun Capital Bancorp Investor Relations website.
1Total revenue is net interest income plus noninterest income.
Kelly C. Rackley
Corporate Secretary & Stockholder Relations Manager
303.962.0150 | [email protected]
Vice President, Marketing
915.881.6785 | [email protected]