Firstsun Capital Bancorp (NASDAQ: FSUN) is a bank holding company that provides commercial and consumer banking services through its bank subsidiary, with operations concentrated in Southwest and Western U.S. markets. The company makes money primarily through net interest income, the spread between interest earned on loans and investment securities and interest paid on deposits and borrowings. Secondary revenue streams include mortgage, wealth management, private banking, and treasury management services that generate fee income. Net interest income was $317.4 million in FY2025, up 6.9% from FY2024, with a net interest margin of 4.10%. Total average earning assets reached $7.74 billion in FY2025, anchored by an average loan portfolio of $6.63 billion. The bank traces its founding to 1892 and relocated its headquarters to Dallas, Texas in November 2023. A pending merger with First Foundation, disclosed in the FY2025 10-K filed March 6, 2026, would add markets in California, Florida, Nevada, and Hawaii to its existing Texas and Southern California footprint.

Revenue model

Net interest income is the primary revenue driver, generated from the spread between loan and investment yields and deposit funding costs. Fee income from mortgage origination, wealth management, private banking, and treasury management provides secondary diversification. Net interest income was $317.4 million in FY2025; average loans totaled $6.63 billion at a 6.41% yield.

Products and services

Commercial banking loans and deposits, consumer banking loans and deposits, mortgage origination, wealth management, private banking, treasury management services.

Customers and end markets

Commercial and consumer clients in higher-growth metropolitan markets and stable non-metropolitan markets, primarily in Texas and Southern California. Core deposit franchise serves local communities. Target end markets include commercial real estate, business lending, and retail banking customers in Southwest and Western U.S. growth markets.

Value-chain role

Direct originator, underwriter, and holder of commercial and consumer loans. Deposit-funded balance sheet with a core deposit franchise as the primary funding source. Operates as an integrator of acquired community banks with a track record of post-merger repositioning.

Geographic exposure

Primarily Texas (Dallas headquarters as of November 2023) and Southern California (San Diego and Los Angeles branches opened early 2025). Additional non-metropolitan markets in the Southwest. Pending First Foundation merger would add California, Florida, Nevada, and Hawaii exposure.

Source: SEC 10-K, filed 2026-03-06

Industry: National Commercial Banks