FirstSun Capital Bancorp reported net income of $26.4 million for the second quarter of 2025, an increase from $24.6 million in the second quarter of 2024. Diluted earnings per share rose to $0.93, up from $0.88 in the prior year's quarter. The company highlighted strong deposit growth and a stable net interest margin as key performance drivers.
Net interest income for the quarter totaled $78.5 million, an increase of $4.0 million from the prior quarter, with the net interest margin remaining stable at 4.07%. However, the provision for credit losses increased to $4.5 million, primarily due to deterioration in a couple of commercial and industrial (C&I) customer relationships and impacts from net portfolio downgrades. Net charge-offs were significantly elevated at $13.5 million, mainly due to a write-down related to a specific C&I loan customer.
Total deposits saw robust annualized growth of 13.2%, increasing by $225.9 million to $7.1 billion, with noninterest-bearing deposits representing 24.0% of the total. Loans grew by $23.1 million, or 1.4% annualized, to $6.5 billion. Noninterest income increased by $5.3 million to $27.1 million, driven by higher mortgage banking income. As of June 30, 2025, total consolidated assets reached $8.4 billion, and the company maintained strong capital ratios, with tangible book value per share at $35.77.
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