FirstSun Capital Bancorp (NASDAQ: FSUN) completed an all‑stock merger with First Foundation Inc. (NYSE: FFWM) on April 1 2026, creating a combined bank with pro‑forma assets of $20.4 billion as of December 31 2025 and estimates of more than $25 billion from other sources. The surviving entity is Sunflower Bank, which will continue to operate under both the FirstSun and Sunflower Bank brands.
The transaction was valued at approximately $550 million and included the appointment of Thomas C. Shafer as Executive Vice Chairman of FirstSun and the addition of four former First Foundation directors to the board. Regulatory approvals from the Office of the Comptroller of the Currency and the Federal Reserve Board were obtained, and stockholder approvals were secured in both companies’ shareholder meetings.
The merger expands FirstSun’s geographic footprint across Texas, Kansas, Colorado, New Mexico, Arizona, California, and Washington, and is intended to deliver cost synergies and a stronger digital platform. Mollie Hale Carter, Executive Chairman, said, “This merger marks a transformational milestone for FirstSun, accelerating our growth strategy and creating a premier regional bank with a powerful footprint across some of the most dynamic markets in the country.” Scott F. Kavanaugh, former CEO of First Foundation, added, “This merger represents an exciting new chapter for our combined organization, allowing us to leverage our complementary strengths to better serve our customers and communities.” Neal Arnold, FirstSun’s CEO, noted, “We are very pleased with our strong operating results in the fourth quarter. Among the highlights were our growth in net interest margin to a strong 4.18%, average loan growth of 8.5%, and revenue growth driving our earnings growth.”
Financially, FirstSun reported Q4 2025 net income of $24.8 million versus $16.4 million in Q4 2024, and adjusted net income of $26.9 million versus $24.3 million in Q4 2024. Adjusted EPS of $0.95 beat consensus estimates of $0.85 by $0.10, driven by higher net interest margin and loan growth. Revenue of $110.21 million surpassed the $107.61 million estimate, supported by growth in consumer and commercial‑industrial segments.
On the balance‑sheet side, pro‑forma assets of $20.4 billion include $13.8 billion in loans and $16.4 billion in deposits. The higher estimate of over $25 billion reflects potential upside from the integration of First Foundation’s technology assets and customer base. The merger will allow FirstSun to downsize its balance sheet and streamline operations while expanding its digital capabilities.
No market‑reaction data were reported at the time of the announcement. The deal positions FirstSun as a larger regional bank, enhances its digital platform, and strengthens its competitive stance in a highly consolidated market.
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