ﾌｧｰｽﾄｻﾝｷｬﾋﾟﾀﾙﾊﾞﾝｺｰﾌﾟの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): October 27, 2025

FIRSTSUN CAPITAL BANCORP

(Exact name of registrant as specified in its charter)


Delaware	001-42175	81-4552413
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

1400 16th Street, Suite 250

Denver, Colorado 80202

(Address of principal executive offices and zip code)

(303) 831-6704

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange
on which registered

Common Stock, $.0001 Par Value

FSUN

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17CFR § 230.405) or 12b-2 of the Exchange Act of 1934 (17 CFR § 240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 27, 2025, FirstSun Capital Bancorp (the “Company”) issued an earnings press release announcing financial results for the third quarter ended September 30, 2025. The earnings press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 7.01 Regulation FD Information.

On October 27, 2025, the Company, made available on its website an investor presentation regarding the Company’s financial results for the third quarter ended September 30, 2025, which will be used at upcoming investor conferences. The investor presentation is furnished as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibit index lists the exhibits that are either filed or furnished with this Current Report on Form 8-K:

EXHIBIT INDEX


Exhibit Number						Description
99.1						Earnings Press Release
99.2						Investor Presentation
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	FIRSTSUN CAPITAL BANCORP

Date: October 27, 2025	By:	/s/ Robert A. Cafera, Jr.
	Name:	Robert A. Cafera, Jr.
	Title:	Senior Executive Vice President and Chief Financial Officer
		(Principal Financial Officer)

EX-99.1 2 exhibit991-earningspressre.htm EX-99.1 Document

FirstSun Capital Bancorp Reports Third Quarter 2025 Results

Third Quarter 2025 Highlights:

•Net income of $23.2 million, $0.82 per diluted share

•Net interest margin of 4.07%

•Return on average total assets of 1.09%

•Return on average stockholders’ equity of 8.22%

•Loan growth of 10.6%, annualized

•Deposit growth of 0.3%, annualized

•24.5% noninterest income to total revenue1

Denver, Colorado – October 27, 2025 – FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN) reported net income of $23.2 million for the third quarter of 2025 compared to net income of $22.4 million for the third quarter of 2024. Earnings per diluted share were $0.82 for the third quarter of 2025 compared to $0.79 for the third quarter of 2024. Adjusted net income, a non-GAAP financial measure, was $23.7 million or $0.84 per diluted share for the third quarter of 2024.

Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “The results for this quarter continue to demonstrate the fundamental strength of our core franchise. The quarter was highlighted by a consistently strong net interest margin of 4.07%, healthy loan growth of 10.6% and a diversified revenue mix with service fees to total revenue of 24.5%. While we did experience higher credit costs this quarter, our operating results remain strong. We remain focused on the great opportunity provided by the robust business environment across our high growth southwestern and western footprint to further grow our franchise and deliver strong financial results.”

Third Quarter 2025 Results

Net income totaled $23.2 million, or $0.82 per diluted share, for the third quarter of 2025, compared to $26.4 million, or $0.93 per diluted share, for the prior quarter.

The return on average total assets was 1.09% for the third quarter of 2025, compared to 1.28% for the prior quarter, and the return on average stockholders’ equity was 8.22% for the third quarter of 2025, compared to 9.74% for the prior quarter.

Net Interest Income and Net Interest Margin

Net interest income totaled $81.0 million for the third quarter of 2025, an increase of $2.5 million compared to the prior quarter. Our net interest margin of 4.07% was unchanged compared to the prior quarter. Results for the third quarter of 2025, compared to the prior quarter, were primarily driven by an increase of two basis points in the yield on earning assets and increase of $160.5 million in average earnings assets, offset by an increase of six basis points in the cost of interest-bearing liabilities and increase of $76.6 million in average interest-bearing liabilities.

1 Total revenue is net interest income plus noninterest income.

Average loans, including loans held-for-sale, increased by $46.7 million in the third quarter of 2025, compared to the prior quarter. Loan yield increased by six basis points to 6.49% in the third quarter of 2025, compared to the prior quarter, primarily due to higher yields on new originations as compared to amortizing and maturing balances. Average interest-bearing deposits increased $79.7 million in the third quarter of 2025, compared to the prior quarter. Total cost of interest-bearing deposits increased by three basis points to 2.81% in the third quarter of 2025, compared to the prior quarter, primarily due to an increase in promotional rate money market deposit balances, partially offset by a decrease in certificates of deposit balances.

Asset Quality and Provision for Credit Losses

The provision for credit losses totaled $10.1 million for the third quarter of 2025 primarily due to deterioration in a specific commercial and industrial (“C&I”) customer relationship, impacts from net changes in loan portfolio balances, and impacts from net portfolio downgrades.

Net charge-offs for the third quarter of 2025 were $9.1 million resulting in an annualized ratio of net charge-offs to average loans of 0.55%, compared to net charge-offs of $13.5 million, or an annualized ratio of net-charge offs to average loans of 0.83% for the prior quarter. Net charge-offs for the third quarter of 2025 were elevated primarily due to a write-down related to a specific customer relationship in our C&I loan portfolio.

The allowance for credit losses as a percentage of total loans was 1.26% at September 30, 2025, a decrease of two basis points from the prior quarter. The ratio of nonperforming assets to total assets was 0.98% at September 30, 2025, compared to 0.80% at June 30, 2025.

Noninterest Income

Noninterest income totaled $26.3 million for the third quarter of 2025, a decrease of $0.7 million from the prior quarter. Mortgage banking income decreased $0.6 million for the third quarter of 2025, primarily due to a decrease in fair value impact, net of hedging, related to interest rate lock commitments and loans held-for-sale, partially offset by an increase in gain on sales driven by higher margins.

Other noninterest income decreased $0.3 million for the third quarter of 2025, primarily due to a decrease in loan syndication and agency fees.

Noninterest income as a percentage of total revenue2 was 24.5%, a decrease of 1.1% from the prior quarter.

Noninterest Expense

Noninterest expense totaled $68.9 million for the third quarter of 2025, an increase of $0.8 million from the prior quarter, primarily due to an increase in salary and employee benefits of $0.9 million resulting from an increase in headcount of C&I bankers and support personnel, in addition to higher medical insurance costs.

The efficiency ratio for the third quarter of 2025 was 64.22% compared to 64.52% for the prior quarter.

Tax Rate

The effective tax rate was 18.1% for the third quarter of 2025, compared to 20.0% for the prior quarter.

2 Total revenue is net interest income plus noninterest income.

Loans

Loans were $6.7 billion at September 30, 2025 and $6.5 billion at June 30, 2025, increasing $174.6 million in the third quarter of 2025, or 10.6% on an annualized basis, primarily due to an increase of $165.9 million in commercial and industrial, and an increase of $49.0 million in multifamily, partially offset by a decrease of $40.2 million in construction and land.

Deposits

Deposits were $7.1 billion at September 30, 2025 and June 30, 2025, an increase of $5.3 million in the third quarter of 2025, or 0.3% on an annualized basis, primarily due to growth of $65.9 million in interest-bearing demand accounts, and $56.8 million in savings and money market accounts, partially offset by a decrease of $75.8 million in certificates of deposits, and $32.2 million in non-interest-bearing demand deposit accounts. Average deposits increased $134.8 million in the third quarter of 2025, or 7.7% on an annualized basis, compared to the prior quarter.

Noninterest-bearing deposit accounts represented 23.6% of total deposits at September 30, 2025 and the loan-to-deposit ratio was 94.0% at September 30, 2025.

Capital

Capital ratios remain strong and above “well-capitalized” thresholds. As of September 30, 2025, our common equity tier 1 risk-based capital ratio was 13.79%, total risk-based capital ratio was 15.81% and tier 1 leverage ratio was 12.44%. Book value per share was $40.48 at September 30, 2025, an increase of $1.13 from June 30, 2025. Tangible book value per share, a non-GAAP financial measure, was $36.92 at September 30, 2025, an increase of $1.15 from June 30, 2025.

Subsequent Event

On October 1, 2025, FirstSun Capital Bancorp redeemed the entire principal amount, or $40 million, of its 6.000% Fixed-to-Floating Rate Subordinated Notes Due July 1, 2030.

Non-GAAP Financial Measures

This press release (including the tables beginning on page 16) contains financial measures determined by methods other than in accordance with principles generally accepted in the United States (“GAAP”). FirstSun management uses these non-GAAP financial measures in their analysis of FirstSun’s performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. FirstSun believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. FirstSun management believes investors may find these non-GAAP financial measures useful. These non-GAAP financial measures, however, should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the non-GAAP measures used in this press release:

•Tangible stockholders’ equity to tangible assets;

•Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax;

•Tangible book value per share;

•Adjusted net income;

•Adjusted diluted earnings per share;

•Adjusted return on average total assets;

•Adjusted return on average stockholders’ equity;

•Return on average tangible stockholders’ equity;

•Adjusted return on average tangible stockholders’ equity;

•Adjusted total noninterest expense;

•Adjusted efficiency ratio; and

•Fully tax equivalent (“FTE”) net interest income and net interest margin.

The tables beginning on page 16 provide a reconciliation of each non-GAAP financial measure contained in this press release to the most comparable GAAP equivalent.

About FirstSun Capital Bancorp

FirstSun Capital Bancorp, headquartered in Denver, Colorado, is the financial holding company for Sunflower Bank, N.A., which operates as Sunflower Bank and First National 1870. Sunflower Bank provides a full range of relationship-focused services to meet personal, business and wealth management financial objectives, with depository branches in seven states and mortgage capabilities in 43 states. FirstSun had total consolidated assets of $8.5 billion as of September 30, 2025.

First National 1870 is a division of Sunflower Bank, N.A. To learn more, visit ir.firstsuncb.com or SunflowerBank.com

Day-Count Convention

Annualized ratios are presented utilizing the Actual/Actual day-count convention. Prior period annualized ratios have been recalculated to conform to the current presentation.

Summary Data:


	As of and for the three months ended
($ in thousands, except per share amounts)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Net interest income	$	80,953		$	78,499		$	74,478		$	77,047		$	76,158
Provision for credit losses	10,100			4,500			3,800			4,850			5,000
Noninterest income	26,333			27,073			21,729			21,635			22,075
Noninterest expense	68,901			68,110			62,722			73,673			64,664
Income before income taxes	28,285			32,962			29,685			20,159			28,569
Provision for income taxes	5,111			6,576			6,116			3,809			6,147
Net income	23,174			26,386			23,569			16,350			22,422
Adjusted net income1	23,174			26,386			23,569			24,316			23,655
Weighted average common shares outstanding, basic	27,801,255			27,783,710			27,721,760			27,668,470			27,612,538
Weighted average common shares outstanding, diluted	28,291,778			28,232,319			28,293,912			28,290,474			28,212,809
Diluted earnings per share	$	0.82		$	0.93		$	0.83		$	0.58		$	0.79
Adjusted diluted earnings per share1	$	0.82		$	0.93		$	0.83		$	0.86		$	0.84
Return on average total assets	1.09		%	1.28		%	1.20		%	0.81		%	1.12		%
Adjusted return on average total assets1	1.09		%	1.28		%	1.20		%	1.20		%	1.18		%
Return on average stockholders' equity	8.22		%	9.74		%	9.03		%	6.22		%	8.74		%
Adjusted return on average stockholders' equity1	8.22		%	9.74		%	9.03		%	9.24		%	9.22		%
Return on average tangible stockholders' equity1	9.20		%	10.91		%	10.18		%	7.36		%	9.94		%
Adjusted return on average tangible stockholders' equity1	9.20		%	10.91		%	10.18		%	10.72		%	10.48		%
Net interest margin	4.07		%	4.07		%	4.07		%	4.09		%	4.08		%
Net interest margin (FTE basis)1	4.12		%	4.13		%	4.13		%	4.15		%	4.13		%
Efficiency ratio	64.22		%	64.52		%	65.19		%	74.66		%	65.83		%
Adjusted efficiency ratio1	64.22		%	64.52		%	65.19		%	63.63		%	64.16		%
Noninterest income to total revenue2	24.5		%	25.6		%	22.6		%	21.9		%	22.5		%
Total assets	$	8,495,437		$	8,435,861		$	8,216,458		$	8,097,387		$	8,138,487
Total loans held-for-sale	85,250			90,781			65,603			61,825			72,247
Total loans held-for-investment	6,681,629			6,507,066			6,484,008			6,376,357			6,443,756
Total deposits	7,105,415			7,100,164			6,874,239			6,672,260			6,649,880
Total stockholders' equity	1,127,513			1,095,402			1,068,295			1,041,366			1,034,085
Loan to deposit ratio	94.0		%	91.6		%	94.3		%	95.6		%	96.9		%
Period end common shares outstanding	27,854,764			27,834,525			27,753,918			27,709,679			27,665,918
Book value per share	$	40.48		$	39.35		$	38.49		$	37.58		$	37.38
Tangible book value per share1	$	36.92		$	35.77		$	34.88		$	33.94		$	33.68
1 Represents a non-GAAP financial measure. See the tables beginning on page 16 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
2 Total revenue is net interest income plus noninterest income.


	As of and for the nine months ended
($ in thousands, except per share amounts)		September 30, 2025			September 30, 2024
Net interest income		$	233,930		$	219,863
Provision for credit losses		18,400			22,700
Noninterest income		75,135			68,157
Noninterest expense		199,733			190,367
Income before income taxes		90,932			74,953
Provision for income taxes		17,803			15,675
Net income		73,129			59,278
Adjusted net income1		73,129			63,428
Weighted average common shares outstanding, basic		27,769,320			27,355,098
Weighted average common shares outstanding, diluted		28,274,134			27,976,215
Diluted earnings per share		$	2.59		$	2.12
Adjusted diluted earnings per share1		$	2.59		$	2.27
Return on average total assets		1.19		%	1.01		%
Adjusted return on average total assets1		1.19		%	1.09		%
Return on average stockholders' equity		8.99		%	8.04		%
Adjusted return on average stockholders’ equity1		8.99		%	8.60		%
Return on average tangible stockholders' equity1		10.08		%	9.23		%
Adjusted return on average tangible stockholders' equity1		10.08		%	9.86		%
Net interest margin		4.07		%	4.04		%
Net interest margin (FTE basis)1		4.13		%	4.11		%
Efficiency ratio		64.62		%	66.10		%
Adjusted efficiency ratio1		64.62		%	64.30		%
Noninterest income to total revenue2		24.3		%	23.7		%
Total assets		$	8,495,437		$	8,138,487
Total loans held-for-sale		85,250			72,247
Total loans held-for-investment		6,681,629			6,443,756
Total deposits		7,105,415			6,649,880
Total stockholders' equity		1,127,513			1,034,085
Loan to deposit ratio		94.0		%	96.9		%
Period end common shares outstanding		27,854,764			27,665,918
Book value per share		$	40.48		$	37.38
Tangible book value per share1		$	36.92		$	33.68
1 Represents a non-GAAP financial measure. See the tables beginning on page 16 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.
2 Total revenue is net interest income plus noninterest income.

Condensed Consolidated Statements of Income (Unaudited):


	For the three months ended		For the nine months ended
($ in thousands, except per share amounts)	September 30, 2025			September 30, 2024		September 30, 2025		September 30, 2024
Total interest income	$	121,128		$	118,932	$	348,496	$	343,501
Total interest expense	40,175			42,774		114,566		123,638
Net interest income	80,953			76,158		233,930		219,863
Provision for credit losses	10,100			5,000		18,400		22,700
Net interest income after credit loss expense	70,853			71,158		215,530		197,163
Noninterest income:
Service charges on deposit accounts	2,162			2,560		6,205		7,276
Treasury management service fees	4,402			3,748		12,929		10,847
Credit and debit card fees	2,671			2,738		7,985		8,447
Trust and investment advisory fees	1,536			1,395		4,430		4,351
Income from mortgage banking services, net	12,641			8,838		34,970		29,383
Other noninterest income	2,921			2,796		8,616		7,853
Total noninterest income	26,333			22,075		75,135		68,157
Noninterest expense:
Salary and employee benefits	44,822			39,306		128,304		116,487
Occupancy and equipment	9,591			9,121		28,668		26,417
Amortization and impairment of intangible assets	578			651		1,784		2,118
Terminated merger related expenses	—			1,633		—		5,168
Other noninterest expenses	13,910			13,953		40,977		40,177
Total noninterest expense	68,901			64,664		199,733		190,367
Income before income taxes	28,285			28,569		90,932		74,953
Provision for income taxes	5,111			6,147		17,803		15,675
Net income	$	23,174		$	22,422	$	73,129	$	59,278
Earnings per share - basic	$	0.83		$	0.81	$	2.63	$	2.17
Earnings per share - diluted	$	0.82		$	0.79	$	2.59	$	2.12


	For the three months ended
($ in thousands, except per share amounts)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Total interest income	$	121,128	$	116,921	$	110,447	$	116,039	$	118,932
Total interest expense	40,175		38,422		35,969		38,992		42,774
Net interest income	80,953		78,499		74,478		77,047		76,158
Provision for credit losses	10,100		4,500		3,800		4,850		5,000
Net interest income after credit loss expense	70,853		73,999		70,678		72,197		71,158
Noninterest income:
Service charges on deposit accounts	2,162		2,016		2,027		2,219		2,560
Treasury management service fees	4,402		4,333		4,194		3,982		3,748
Credit and debit card fees	2,671		2,728		2,586		2,706		2,738
Trust and investment advisory fees	1,536		1,473		1,421		1,436		1,395
Income from mortgage banking services, net	12,641		13,274		9,055		9,631		8,838
Other noninterest income	2,921		3,249		2,446		1,661		2,796
Total noninterest income	26,333		27,073		21,729		21,635		22,075
Noninterest expense:
Salary and employee benefits	44,822		43,921		39,561		38,498		39,306
Occupancy and equipment	9,591		9,541		9,536		9,865		9,121
Amortization and impairment of intangible assets	578		578		628		1,431		651
Terminated merger related expenses	—		—		—		8,010		1,633
Other noninterest expenses	13,910		14,070		12,997		15,869		13,953
Total noninterest expense	68,901		68,110		62,722		73,673		64,664
Income before income taxes	28,285		32,962		29,685		20,159		28,569
Provision for income taxes	5,111		6,576		6,116		3,809		6,147
Net income	$	23,174	$	26,386	$	23,569	$	16,350	$	22,422
Earnings per share - basic	$	0.83	$	0.95	$	0.85	$	0.59	$	0.81
Earnings per share - diluted	$	0.82	$	0.93	$	0.83	$	0.58	$	0.79

Condensed Consolidated Balance Sheets as of (Unaudited):


($ in thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Assets
Cash and cash equivalents	$	659,899	$	785,115	$	621,377	$	615,917	$	573,674
Securities available-for-sale, at fair value	476,114		473,468		480,615		469,076		496,811
Securities held-to-maturity	34,247		34,581		34,914		35,242		35,885
Loans held-for-sale, at fair value	85,250		90,781		65,603		61,825		72,247
Loans	6,681,629		6,507,066		6,484,008		6,376,357		6,443,756
Allowance for credit losses	(84,040)		(82,993)		(91,790)		(88,221)		(83,159)
Loans, net	6,597,589		6,424,073		6,392,218		6,288,136		6,360,597
Mortgage servicing rights, at fair value	85,695		84,736		82,927		84,258		78,799
Premises and equipment, net	81,886		82,248		82,333		82,483		82,532
Other real estate owned and foreclosed assets, net	13,418		13,052		4,914		5,138		4,478
Goodwill	93,483		93,483		93,483		93,483		93,483
Core deposits and other intangible assets, net	5,650		6,228		6,806		7,434		8,866
Other assets	362,206		348,096		351,268		354,395		331,115
Total assets	$	8,495,437	$	8,435,861	$	8,216,458	$	8,097,387	$	8,138,487
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing accounts	$	1,674,497	$	1,706,678	$	1,574,736	$	1,541,158	$	1,554,762
Interest-bearing accounts:
Interest-bearing demand accounts	811,617		745,750		708,783		685,865		645,647
Savings and money market accounts	3,223,254		3,166,466		2,974,774		2,834,123		2,608,808
NOW accounts	42,559		52,005		39,806		45,539		41,234
Certificate of deposit accounts	1,353,488		1,429,265		1,576,140		1,565,575		1,799,429
Total deposits	7,105,415		7,100,164		6,874,239		6,672,260		6,649,880
Securities sold under agreements to repurchase	9,824		11,173		8,515		14,699		10,913
Federal Home Loan Bank advances	—		—		35,000		135,000		215,000
Subordinated debt, net	76,163		76,066		75,969		75,841		75,709
Other liabilities	176,522		153,056		154,440		158,221		152,900
Total liabilities	7,367,924		7,340,459		7,148,163		7,056,021		7,104,402
Stockholders' equity:
Preferred stock	—		—		—		—		—
Common stock	3		3		3		3		3
Additional paid-in capital	548,952		547,950		547,484		547,325		547,271

Retained earnings	606,279		583,105		556,719		533,150		516,800
Accumulated other comprehensive loss, net	(27,721)		(35,656)		(35,911)		(39,112)		(29,989)
Total stockholders' equity	1,127,513		1,095,402		1,068,295		1,041,366		1,034,085
Total liabilities and stockholders' equity	$	8,495,437	$	8,435,861	$	8,216,458	$	8,097,387	$	8,138,487

Consolidated Capital Ratios as of:



	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Stockholders' equity to total assets	13.27	%	12.99	%	13.00	%	12.86	%	12.71	%
Tangible stockholders' equity to tangible assets1	12.25	%	11.94	%	11.93	%	11.76	%	11.59	%
Tangible stockholders' equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax1, 2	12.21	%	11.90	%	11.89	%	11.71	%	11.56	%
Tier 1 leverage ratio	12.44	%	12.39	%	12.47	%	12.11	%	11.96	%
Common equity tier 1 risk-based capital ratio	13.79	%	13.78	%	13.26	%	13.18	%	13.06	%
Tier 1 risk-based capital ratio	13.79	%	13.78	%	13.26	%	13.18	%	13.06	%
Total risk-based capital ratio	15.81	%	15.94	%	15.52	%	15.42	%	15.25	%
1 Represents a non-GAAP financial measure. See the tables beginning on page 16 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent. 2 Tangible stockholders’ equity and tangible assets have been adjusted to reflect net unrealized losses on held-to-maturity securities, net of tax.

Summary of Net Interest Margin:


	For the three months ended						For the nine months ended
	September 30, 2025		September 30, 2024				September 30, 2025			September 30, 2024
(In thousands)	Average Balance		Average Yield/Rate		Average Balance			Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate
Interest Earning Assets

Loans1	6,667,158		6.49	%	6,460,484			6.68	%	6,570,356		6.43	%	6,386,620		6.61	%
Investment securities	505,999		3.43	%	527,241			3.60	%	506,068		3.48	%	532,562		3.52	%
Interest-bearing cash and other assets	714,885		4.25	%	442,632			5.14	%	604,936		4.29	%	343,911		5.27	%
Total earning assets	7,888,042		6.09	%	7,430,357			6.37	%	7,681,360		6.07	%	7,263,093		6.32	%
Other assets	540,079				534,740					542,038				543,916
Total assets	$	8,428,121			$	7,965,097				$	8,223,398			$	7,807,009

Interest-bearing liabilities
Demand and NOW deposits	$	796,192	3.29	%	$	657,537		3.73	%	$	770,395	3.25	%	$	609,632	3.71	%
Savings deposits	391,444		0.59	%	411,526			0.71	%	397,745		0.58	%	415,687		0.70	%
Money market deposits	2,852,860		2.58	%	2,140,552			2.24	%	2,652,819		2.41	%	2,098,927		2.07	%
Certificates of deposits	1,397,371		3.64	%	1,800,502			4.56	%	1,482,529		3.77	%	1,812,839		4.63	%
Total deposits	5,437,867		2.81	%	5,010,117			3.14	%	5,303,488		2.78	%	4,937,085		3.10	%
Repurchase agreements	8,055		1.82	%	13,528			1.29	%	8,892		1.66	%	17,099		1.16	%
Total deposits and repurchase agreements	5,445,922		2.81	%	5,023,645			3.14	%	5,312,380		2.77	%	4,954,184		3.09	%
FHLB borrowings	—		—	%	135,641			5.58	%	10,491		4.61	%	125,799		5.62	%
Other long-term borrowings	76,117		8.41	%	75,654			6.54	%	76,017		7.02	%	75,522		6.61	%
Total interest-bearing liabilities	5,522,039		2.89	%	5,234,940			3.25	%	5,398,888		2.84	%	5,155,505		3.20	%
Noninterest-bearing deposits	1,642,346				1,568,685					1,587,670				1,529,793
Other liabilities	145,730				141,206					148,675				136,491
Stockholders' equity	1,118,006				1,020,266					1,088,165				985,220
Total liabilities and stockholders' equity	$	8,428,121			$	7,965,097				$	8,223,398			$	7,807,009


Net interest spread			3.20	%				3.12	%			3.23	%			3.12	%
Net interest margin			4.07	%				4.08	%			4.07	%			4.04	%
Net interest margin (on FTE basis)2			4.12	%				4.13	%			4.13	%			4.11	%
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 16 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.


	For the three months ended
	September 30, 2025		June 30, 2025				March 31, 2025			December 31, 2024		September 30, 2024
(In thousands)	Average Balance		Average Yield/Rate		Average Balance			Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate		Average Balance		Average Yield/Rate
Interest Earning Assets

Loans1	6,667,158		6.49	%	6,620,493			6.43	%	6,420,710		6.36	%	6,481,701		6.51	%	6,460,484		6.68	%
Investment securities	505,999		3.43	%	510,350			3.48	%	501,809		3.53	%	519,221		3.40	%	527,241		3.60	%
Interest-bearing cash and other assets	714,885		4.25	%	596,713			4.28	%	500,857		4.37	%	491,326		4.48	%	442,632		5.14	%
Total earning assets	7,888,042		6.09	%	7,727,556			6.07	%	7,423,376		6.03	%	7,492,248		6.16	%	7,430,357		6.37	%
Other assets	540,079				537,156					548,976				542,862				534,740
Total assets	$	8,428,121			$	8,264,712				$	7,972,352			$	8,035,110			$	7,965,097

Interest-bearing liabilities
Demand and NOW deposits	$	796,192	3.29	%	$	793,461		3.26	%	$	720,700	3.21	%	$	703,087	3.45	%	$	657,537	3.73	%
Savings deposits	391,444		0.59	%	401,093			0.58	%	400,801		0.58	%	404,762		0.64	%	411,526		0.71	%
Money market deposits	2,852,860		2.58	%	2,659,342			2.42	%	2,441,737		2.19	%	2,348,328		2.23	%	2,140,552		2.24	%
Certificates of deposits	1,397,371		3.64	%	1,504,235			3.76	%	1,547,634		3.91	%	1,589,721		4.08	%	1,800,502		4.56	%
Total deposits	5,437,867		2.81	%	5,358,131			2.78	%	5,110,872		2.73	%	5,045,898		2.85	%	5,010,117		3.14	%
Repurchase agreements	8,055		1.82	%	9,024			1.61	%	9,615		1.57	%	10,964		1.45	%	13,528		1.29	%
Total deposits and repurchase agreements	5,445,922		2.81	%	5,367,155			2.78	%	5,120,487		2.73	%	5,056,862		2.85	%	5,023,645		3.14	%
FHLB borrowings	—		—	%	2,308			4.72	%	29,489		4.60	%	121,957		5.02	%	135,641		5.58	%
Other long-term borrowings	76,117		8.41	%	76,025			6.19	%	75,907		6.43	%	75,778		6.41	%	75,654		6.54	%
Total interest-bearing liabilities	5,522,039		2.89	%	5,445,488			2.83	%	5,225,883		2.79	%	5,254,597		2.95	%	5,234,940		3.25	%
Noninterest-bearing deposits	1,642,346				1,587,302					1,532,150				1,581,571				1,568,685
Other liabilities	145,730				145,064					155,337				152,552				141,206
Stockholders' equity	1,118,006				1,086,858					1,058,982				1,046,390				1,020,266
Total liabilities and stockholders' equity	$	8,428,121			$	8,264,712				$	7,972,352			$	8,035,110			$	7,965,097


Net interest spread			3.20	%				3.24	%			3.24	%			3.21	%			3.12	%
Net interest margin			4.07	%				4.07	%			4.07	%			4.09	%			4.08	%
Net interest margin (on FTE basis)2			4.12	%				4.13	%			4.13	%			4.15	%			4.13	%
1 Includes loans held-for-investment, including nonaccrual loans, and loans held-for-sale.
2 Represents a non-GAAP financial measure. See the tables beginning on page 16 for a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

Deposits as of:



($ in thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Consumer
Noninterest bearing deposit accounts	$	412,568	$	426,909	$	412,734	$	410,303	$	397,880
Interest-bearing deposit accounts:
Demand and NOW deposits	129,148		113,415		93,675		61,987		61,929
Savings deposits	314,953		322,672		330,489		326,916		331,811
Money market deposits	1,885,610		1,803,348		1,600,413		1,516,577		1,333,486
Certificates of deposits	869,077		937,439		1,065,839		1,069,704		1,247,348
Total interest-bearing deposit accounts	3,198,788		3,176,874		3,090,416		2,975,184		2,974,574
Total consumer deposits	$	3,611,356	$	3,603,783	$	3,503,150	$	3,385,487	$	3,372,454
Business
Noninterest bearing deposit accounts	$	1,261,929	$	1,279,769	$	1,162,002	$	1,130,855	$	1,156,882
Interest-bearing deposit accounts:
Demand and NOW deposits	725,028		684,340		654,914		669,417		624,952
Savings deposits	71,281		74,448		75,132		75,422		77,744
Money market deposits	951,410		965,998		968,740		915,208		865,767
Certificates of deposits	57,225		56,930		65,420		51,131		62,187
Total interest-bearing deposit accounts	1,804,944		1,781,716		1,764,206		1,711,178		1,630,650
Total business deposits	$	3,066,873	$	3,061,485	$	2,926,208	$	2,842,033	$	2,787,532
Wholesale deposits1	$	427,186	$	434,896	$	444,881	$	444,740	$	489,894
Total deposits	$	7,105,415	$	7,100,164	$	6,874,239	$	6,672,260	$	6,649,880
1 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposits.

Balance Sheet Ratios as of:



	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Cash to total assets1	7.70	%	9.20	%	7.50	%	7.50	%	6.90	%
Loan to deposit ratio	94.0	%	91.6	%	94.3	%	95.6	%	96.9	%
Uninsured deposits to total deposits2	36.2	%	37.0	%	35.2	%	34.8	%	32.7	%
Uninsured and uncollateralized deposits to total deposits2	28.3	%	28.3	%	26.4	%	25.2	%	26.8	%

Wholesale deposits and borrowings to total liabilities3	5.8	%	5.9	%	6.7	%	8.2	%	9.9	%


1 Cash consists of cash and amounts due from banks and interest-bearing deposits with other financial institutions. 2 Uninsured deposits and uninsured and uncollateralized deposits are reported for our wholly-owned subsidiary Sunflower Bank, N.A. and are estimated. 3 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposits. Wholesale borrowings consist of FHLB overnight and term advances.

Loan Portfolio as of:



($ in thousands)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
Commercial and industrial1	$	2,945,697	$	2,779,767	$	2,764,035	$	2,627,591	$	2,678,859
Commercial real estate:
Non-owner occupied	725,425		705,749		733,949		752,628		821,434
Owner occupied	668,172		660,334		677,341		700,867		698,398
Construction and land	343,803		383,969		386,056		362,677		333,457
Multifamily	183,504		134,520		85,239		94,355		95,125
Total commercial real estate	1,920,904		1,884,572		1,882,585		1,910,527		1,948,414
Residential real estate2	1,209,742		1,226,760		1,195,714		1,180,610		1,172,459
Public Finance	516,247		524,441		551,252		554,784		536,776
Consumer	38,931		42,881		38,896		41,144		45,067
Other	50,108		48,645		51,526		61,701		62,181
Total loans, net of deferred costs, fees, premiums, and discounts	$	6,681,629	$	6,507,066	$	6,484,008	$	6,376,357	$	6,443,756
1 Loans to nondepository financial institutions are included within commercial and industrial. Prior period amounts have been reclassified to conform to the current presentation. 2 Includes 1-4 family residential construction.

Asset Quality:


	As of and for the three months ended															As of and for the nine months ended
($ in thousands)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			September 30, 2025			September 30, 2024
Net charge-offs (recoveries)	$	9,053		$	13,547		$	631		$	(462)		$	1,401		$	23,231		$	20,839
Allowance for credit losses	$	84,040		$	82,993		$	91,790		$	88,221		$	83,159		$	84,040		$	83,159
Nonperforming loans, including nonaccrual loans, and accrual loans greater than 90 days past due	$	69,641		$	54,841		$	78,590		$	69,050		$	65,824		$	69,641		$	65,824
Nonperforming assets	$	83,059		$	67,893		$	83,504		$	74,188		$	70,302		$	83,059		$	70,302
Ratio of net charge-offs (recoveries) to average loans outstanding	0.55		%	0.83		%	0.04		%	(0.03)		%	0.09		%	0.48		%	0.44		%
Allowance for credit losses to total loans outstanding	1.26		%	1.28		%	1.42		%	1.38		%	1.29		%	1.26		%	1.29		%

Allowance for credit losses to total nonperforming loans	120.68		%	151.33		%	116.80		%	127.76		%	126.34		%	120.68		%	126.34		%
Nonperforming loans to total loans	1.04		%	0.84		%	1.21		%	1.08		%	1.02		%	1.04		%	1.02		%
Nonperforming assets to total assets	0.98		%	0.80		%	1.02		%	0.92		%	0.86		%	0.98		%	0.86		%

Non-GAAP Financial Measures and Reconciliations:


	As of and for the three months ended															As of and for the nine months ended
($ in thousands, except share and per share amounts)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			September 30, 2025			September 30, 2024
Tangible stockholders’ equity to tangible assets:
Total stockholders' equity (GAAP)	$	1,127,513		$	1,095,402		$	1,068,295		$	1,041,366		$	1,034,085		$	1,127,513		$	1,034,085
Less: Goodwill and other intangible assets
Goodwill	(93,483)			(93,483)			(93,483)			(93,483)			(93,483)			(93,483)			(93,483)
Other intangible assets	(5,650)			(6,228)			(6,806)			(7,434)			(8,866)			(5,650)			(8,866)
Tangible stockholders' equity (non-GAAP)	$	1,028,380		$	995,691		$	968,006		$	940,449		$	931,736		$	1,028,380		$	931,736
Total assets (GAAP)	$	8,495,437		$	8,435,861		$	8,216,458		$	8,097,387		$	8,138,487		$	8,495,437		$	8,138,487
Less: Goodwill and other intangible assets
Goodwill	(93,483)			(93,483)			(93,483)			(93,483)			(93,483)			(93,483)			(93,483)
Other intangible assets	(5,650)			(6,228)			(6,806)			(7,434)			(8,866)			(5,650)			(8,866)
Tangible assets (non-GAAP)	$	8,396,304		$	8,336,150		$	8,116,169		$	7,996,470		$	8,036,138		$	8,396,304		$	8,036,138
Total stockholders' equity to total assets (GAAP)	13.27		%	12.99		%	13.00		%	12.86		%	12.71		%	13.27		%	12.71		%
Less: Impact of goodwill and other intangible assets	(1.02)		%	(1.05)		%	(1.07)		%	(1.10)		%	(1.12)		%	(1.02)		%	(1.12)		%
Tangible stockholders' equity to tangible assets (non-GAAP)	12.25		%	11.94		%	11.93		%	11.76		%	11.59		%	12.25		%	11.59		%
Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax:
Tangible stockholders' equity (non-GAAP)	$	1,028,380		$	995,691		$	968,006		$	940,449		$	931,736		$	1,028,380		$	931,736
Less: Net unrealized losses on HTM securities, net of tax	(3,432)			(4,238)			(3,803)			(4,292)			(2,852)			(3,432)			(2,852)
Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP)	$	1,024,948		$	991,453		$	964,203		$	936,157		$	928,884		$	1,024,948		$	928,884
Tangible assets (non-GAAP)	$	8,396,304		$	8,336,150		$	8,116,169		$	7,996,470		$	8,036,138		$	8,396,304		$	8,036,138
Less: Net unrealized losses on HTM securities, net of tax	(3,432)			(4,238)			(3,803)			(4,292)			(2,852)			(3,432)			(2,852)
Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP)	$	8,392,872		$	8,331,912		$	8,112,366		$	7,992,178		$	8,033,286		$	8,392,872		$	8,033,286

Tangible stockholders' equity to tangible assets (non-GAAP)	12.25		%	11.94		%	11.93		%	11.76		%	11.59		%	12.25		%	11.59		%
Less: Net unrealized losses on HTM securities, net of tax	(0.04)		%	(0.04)		%	(0.04)		%	(0.05)		%	(0.03)		%	(0.04)		%	(0.03)		%
Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP)	12.21		%	11.90		%	11.89		%	11.71		%	11.56		%	12.21		%	11.56		%


	As of and for the three months ended															As of and for the nine months ended
($ in thousands, except share and per share amounts)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			September 30, 2025			September 30, 2024
Tangible book value per share:
Total stockholders' equity (GAAP)	$	1,127,513		$	1,095,402		$	1,068,295		$	1,041,366		$	1,034,085		$	1,127,513		$	1,034,085
Tangible stockholders' equity (non-GAAP)	$	1,028,380		$	995,691		$	968,006		$	940,449		$	931,736		$	1,028,380		$	931,736
Total shares outstanding	27,854,764			27,834,525			27,753,918			27,709,679			27,665,918			27,854,764			27,665,918
Book value per share (GAAP)	$	40.48		$	39.35		$	38.49		$	37.58		$	37.38		$	40.48		$	37.38
Tangible book value per share (non-GAAP)	$	36.92		$	35.77		$	34.88		$	33.94		$	33.68		$	36.92		$	33.68
Adjusted net income:
Net income (GAAP)	$	23,174		$	26,386		$	23,569		$	16,350		$	22,422		$	73,129		$	59,278
Add: Non-recurring adjustments:
Terminated merger related expenses, net of tax	—			—			—			5,799			1,233			—			4,150

Write-off of Guardian Mortgage tradename, net of tax	—			—			—			625			—			—			—
Disposal of ATMs, net of tax	—			—			—			1,542			—			—			—

Total adjustments, net of tax	—			—			—			7,966			1,233			—			4,150
Adjusted net income (non-GAAP)	$	23,174		$	26,386		$	23,569		$	24,316		$	23,655		$	73,129		$	63,428


Adjusted diluted earnings per share:
Diluted earnings per share (GAAP)	$	0.82		$	0.93		$	0.83		$	0.58		$	0.79		$	2.59		$	2.12
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax	—			—			—			0.21			0.05			—			0.15

Write-off of Guardian Mortgage tradename, net of tax	—			—			—			0.02			—			—			—
Disposal of ATMs, net of tax	—			—			—			0.05			—			—			—
Adjusted diluted earnings per share (non-GAAP)	$	0.82		$	0.93		$	0.83		$	0.86		$	0.84		$	2.59		$	2.27
Adjusted return on average total assets:
Return on average total assets (ROAA) (GAAP)	1.09		%	1.28		%	1.20		%	0.81		%	1.12		%	1.19		%	1.01		%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax	—		%	—		%	—		%	0.28		%	0.06		%	—		%	0.08		%

Write-off of Guardian Mortgage tradename, net of tax	—		%	—		%	—		%	0.03		%	—		%	—		%	—		%
Disposal of ATMs, net of tax	—		%	—		%	—		%	0.08		%	—		%	—		%	—		%
Adjusted ROAA (non-GAAP)	1.09		%	1.28		%	1.20		%	1.20		%	1.18		%	1.19		%	1.09		%


	As of and for the three months ended										As of and for the nine months ended
($ in thousands, except share and per share amounts)	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024		September 30, 2025		September 30, 2024
Adjusted return on average stockholders’ equity:
Return on average stockholders' equity (ROACE) (GAAP)	8.22	%	9.74	%	9.03	%	6.22	%	8.74	%	8.99	%	8.04	%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax	—	%	—	%	—	%	2.19	%	0.48	%	—	%	0.56	%

Write-off of Guardian Mortgage tradename, net of tax	—	%	—	%	—	%	0.24	%	—	%	—	%	—	%
Disposal of ATMs, net of tax	—	%	—	%	—	%	0.59	%	—	%	—	%	—	%
Adjusted ROACE (non-GAAP)	8.22	%	9.74	%	9.03	%	9.24	%	9.22	%	8.99	%	8.60	%
Return on average tangible stockholders’ equity
Return on average stockholders’ equity (ROACE) (GAAP)	8.22	%	9.74	%	9.03	%	6.22	%	8.74	%	8.99	%	8.04	%
Add: Impact from goodwill and other intangible assets
Goodwill	0.81	%	0.98	%	0.94	%	0.67	%	0.98	%	0.90	%	0.94	%
Other intangible assets	0.17	%	0.19	%	0.21	%	0.47	%	0.22	%	0.19	%	0.25	%
Return on average tangible stockholders’ equity (ROATCE) (non-GAAP)	9.20	%	10.91	%	10.18	%	7.36	%	9.94	%	10.08	%	9.23	%
Adjusted return on average tangible stockholders’ equity:
Return on average tangible stockholders' equity (ROATCE) (non-GAAP)	9.20	%	10.91	%	10.18	%	7.36	%	9.94	%	10.08	%	9.23	%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax	—	%	—	%	—	%	2.45	%	0.54	%	—	%	0.63	%

Write-off of Guardian Mortgage tradename, net of tax	—	%	—	%	—	%	0.26	%	—	%	—	%	—	%
Disposal of ATMs, net of tax	—	%	—	%	—	%	0.65	%	—	%	—	%	—	%
Adjusted ROATCE (non-GAAP)	9.20	%	10.91	%	10.18	%	10.72	%	10.48	%	10.08	%	9.86	%


	As of and for the three months ended															As of and for the nine months ended
($ in thousands, except share and per share amounts)	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			September 30, 2025			September 30, 2024
Adjusted total noninterest expense:
Total noninterest expense (GAAP)	$	68,901		$	68,110		$	62,722		$	73,673		$	64,664		$	199,733		$	190,367
Less: Non-recurring adjustments:
Terminated merger related expenses	—			—			—			(8,010)			(1,633)			—			(5,168)
Write-off of Guardian Mortgage trade name	—			—			—			(828)			—			—			—
Disposal of ATMs	—			—			—			(2,042)			—			—			—
Total adjustments	—			—			—			(10,880)			(1,633)			—			(5,168)
Adjusted total noninterest expense (non-GAAP)	$	68,901		$	68,110		$	62,722		$	62,793		$	63,031		$	199,733		$	185,199
Adjusted efficiency ratio:
Efficiency ratio (GAAP)	64.22		%	64.52		%	65.19		%	74.66		%	65.83		%	64.62		%	66.10		%
Less: Impact of non-recurring adjustments
Terminated merger related expenses	—		%	—		%	—		%	(8.12)		%	(1.67)		%	—		%	(1.80)		%
Write-off of Guardian Mortgage tradename	—		%	—		%	—		%	(0.84)		%	—		%	—		%	—		%
Disposal of ATMs	—		%	—		%	—		%	(2.07)		%	—		%	—		%	—		%
Adjusted efficiency ratio (non-GAAP)	64.22		%	64.52		%	65.19		%	63.63		%	64.16		%	64.62		%	64.30		%








Fully tax equivalent (“FTE”) net interest income and net interest margin:
Net interest income (GAAP)	$	80,953		$	78,499		$	74,478		$	77,047		$	76,158		$	233,930		$	219,863
Gross income effect of tax exempt income	1,225			1,204			1,192			1,161			1,132			3,621			3,606
FTE net interest income (non-GAAP)	$	82,178		$	79,703		$	75,670		$	78,208		$	77,290		$	237,551		$	223,469
Average earning assets	$	7,888,042		$	7,727,556		$	7,423,376		$	7,492,248		$	7,430,357		$	7,681,360		$	7,263,093
Net interest margin	4.07		%	4.07		%	4.07		%	4.09		%	4.08		%	4.07		%	4.04		%
Net interest margin on FTE basis (non-GAAP)	4.12		%	4.13		%	4.13		%	4.15		%	4.13		%	4.13		%	4.11		%

Contacts:

Investor Contact:

Ed Jacques

Director of Investor Relations & Business Development, FirstSun

Investor.Relations@firstsuncb.com

Media Contact:

Jeanne Lipson

Director of Marketing, Sunflower Bank

Jeanne.Lipson@SunflowerBank.com

EX-99.2 3 a3q25earningspresentatio.htm EX-99.2 a3q25earningspresentatio

3Q2025 Earnings Presentation October 27, 2025 FirstSun Capital Bancorp NASDAQ: FSUN

FirstSun Capital Bancorp | 2 Disclaimers Forward Looking Statements This presentation contains forward-looking information and statements by FirstSun Capital Bancorp (the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “project,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should”, “assumes”, “assumptions”, “view”, “continue,” “opportunity,” and “outlook” or other similar expressions, and in this presentation include our outlook regarding our loan portfolio, deposit mix, net interest and noninterest income and net interest margin, asset quality, capital and liquidity as well as our 2025 Full Year Outlook and related assumptions. All statements in this presentation speak only as of the date they are made. Except as required by law, we do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether because new information, future events or otherwise. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, without limitation: changes in interest rates (including anticipated Federal Reserve rate cuts that might not occur) and their related impact on macroeconomic conditions, customer behavior, our funding costs and our loan and securities portfolios; the quality or composition of our loan or investment portfolios and changes therein; failure to maintain our mortgage production flow to secondary markets; the sufficiency of liquidity and changes in our capital position; the inability of our infrastructure initiatives to reduce expenses; the inability to identify, close and successfully integrate attractive acquisition targets; the impact of inflation; increased deposit volatility; potential regulatory developments; U.S. global trade policies and tensions, including change in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; and other general competitive, economic, business, market and political conditions. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Additional information concerning additional factors that could materially affect the forward-looking statements in this presentation can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents subsequently filed by the Company with the Securities and Exchange Commission. Use of Non-GAAP Measures This presentation includes certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP financial measures include certain operating performance measures that exclude merger-related and other charges that are not considered part of the Company’s recurring operations, such as “Adjusted Net Income”, “Adjusted Return on Average Total Assets”, “Return on Average Tangible Stockholders Equity”, “Adjusted Return on Average Tangible Stockholders’ Equity”, “Adjusted Diluted Earnings Per Share”, “Adjusted and “Pre-tax Pre-provision Return on Average Assets”, “Adjusted Efficiency Ratio“, “TBV per Share”, “Price / TBV”, and “Price to LTM Adjusted EPS”. The Company believes these non-GAAP financial measures provide useful supplemental information for evaluating the Company’s performance trends. Further, the Company’s management uses these measures in managing and evaluating the Company’s business and intends to refer to them in discussions about the Company’s operations and performance. These measures should be viewed in addition to, and not as an alternative to substitute for measures that are determined in accordance with GAAP. Additionally, the non-GAAP financial measures used by the Company may differ from the similar measures presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable GAAP measure are included in the Appendix to this presentation. Day-Count Convention Annualized ratios are presented utilizing the Actual/Actual day-count convention. Prior period annualized ratios have been recalculated to conform to the current presentation.

FirstSun Capital Bancorp | 3 Corporate Profile Operating in 5 of the Top 10 Fastest Growing MSAs1 # 1 Austin, TX 2 Dallas, TX 3 Orlando, FL 4 Charlotte, NC 5 Houston, TX 6 Tampa, FL 7 Nashville, TN 8 San Antonio, TX 9 Phoenix, AZ 10 Atlanta, GA With a Presence in 7 of the 10 Largest MSAs in the Southwest & Western US2 # 1 Southern CA (ex. San Diego & Ontario, CA)3 2 Dallas, TX 3 Houston, TX 4 Phoenix, AZ 5 Ontario, CA 6 San Francisco, CA 7 Seattle, WA 8 Minneapolis, MN 9 San Diego, CA 10 Denver, CO 1,179 Employees 71 Licensed Branches 43 States with Mortgage Capabilities Headquarters: FirstSun: Denver, CO Sunflower Bank: Dallas, TX Key Facts and Statistics4 $1.1B $38.79 1.05x $36.92 11.28x Market Cap Price per Share Price / TBV6 TBV per Share6 Price / LTM Adjusted Diluted EPS6 KBRA Ratings5 FirstSun Capital Bancorp Sunflower Bank, N.A. Senior Unsecured Debt = BBB Deposit = BBB+ Subordinated Debt = BBB- Senior Unsecured Debt = BBB+ Short-Term Debt = K3 Short-Term Deposit = K2 Short-Term Debt = K2 Source: S&P Global Market Intelligence, Company documents. 1Defined as MSAs with population over 2 million. 2Defined as states west of the Mississippi River. 3The MSA of Southern California includes Los Angeles, Long Beach, and Anaheim; excludes San Diego and Ontario. 4As of Sep 30, 2025. 5As of Jan 15, 2025. 6Represents a non-GAAP financial measure. See Non-GAAP Reconciliation $8.5B Total Assets $7.1B Total Deposits $6.7B Total Loans Franchise Footprint4

FirstSun Capital Bancorp | 4 Unique High Growth Franchise Universe Size Attractive Footprint3 Strong Fee Income Lending Focus Growth ~ 40 Banks 1 Bank Banks West of the Mississippi River Banks with Total Assets $5B - $20B MRQ Fee Income / Rev. > 20% Specialized C&I Lending1 Loan Growth2 > 10% With scale in markets with leading projected population growth and household income Critical Mass in Key US Markets Durable & Growing Earnings Differentiated Platform Strong Growth Momentum Critical Mass in Key US Markets Attractive core deposit funded franchise with proven ability to deliver strong organic growth SCARCITY VALUE Source: S&P Global Market Intelligence; Financial data as of most recent quarter available 1Specialized C&I lending defined as C&I concentration of 30% or greater of total loan portfolio 2Loan Growth represents CAGR calculated from 12/31/2018 3MSA’s ranked by population size west of the Mississippi

FirstSun Capital Bancorp | 5 Investment Thesis — Focused Strategy Southwest & Western geography with a mix of metro and community markets C&I business focus with a disciplined and careful CRE exposure to core customers in our geography Vertical lending expertise provides true alternative to larger banks Core deposit funded franchise Financial service income at high end of peers Tenured management team

FirstSun Capital Bancorp | 6 Efficiency Ratio 64.62% Year-to-Date 2025 Results 2024 Highlights • Reported Net Income of $73.1 million, or diluted EPS of $2.59, on Revenue of $309.1 million • Strong adjusted PTPP ROAA of 1.78%, ROAA of 1.19%, ROTCE of 9.69% • Maintained a healthy full year NIM (FTE) of 4.13% • Increased tangible book value per share $3.24 or 9.62% • Maintained strong capital ratios with CET1 at 13.79% and TCE/ TA at 12.25% • Executed on organic growth opportunities across our franchise • Grew customers and deepened relationships • Plans for two new branch openings in southern California • KBRA Ratings Renewed • Confident positioning heading into 2025 Net Income $73.1 million Diluted EPS $2.59 PTPP ROAA1 1.78% Net Charge-Offs to Average Loans 0.48% ROAA 1.19% Service Fees to Revenue2 24.3% ROATCE1 10.08% CET1 13.79% Net Interest Margin 4.07% 2025 YTD Highlights 1Represents a non-GAAP financial measure. See Non-GAAP Reconciliation 2Total revenue is net interest income plus noninterest income 3Excludes loans HFS • Net Income of $73.1 million; Diluted EPS of $2.59 • ROAA of 1.19%; PTPP ROAA of 1.78%1; ROATCE of 10.08%1 • Total revenue of $309.1 million, a 7.3% increase from YTD Q3 2024 ◦ Adjusted operating leverage growth of $6.5 million from YTD Q3 2024 • Average deposit growth of 6.6% from Q3 2024; EOP growth of 8.7%, annualized from December 31, 2024 • Average loan growth3 of 2.6% from Q3 2024; EOP growth3 of 6.4%, annualized from December 31, 2024 • Strong NIM of 4.07% • Increased tangible book value per share of $2.98 or 8.8%

FirstSun Capital Bancorp | 7 Third Quarter 2025 Results 2025 Q3 HighlightsNet Income $23.2 million Diluted EPS $0.82 PTPP ROAA1 1.81% Service Fees to Revenue2 24.5% ROAA 1.09% Net Interest Margin 4.07% ROATCE1 9.20% Net Charge-Offs to Average Loans 0.55% EOP Annualized Loan Growth3 10.6% Annualized Deposit Growth 0.3% • Net Income of $23.2 million; Diluted EPS of $0.82 • ROAA of 1.09%; PTPP ROAA1 of 1.81%; ROATCE1 of 9.20% • Total revenue2 of $107.3 million, a 1.6% increase over Q2 • Average deposit growth of 7.7%, annualized • Average loan growth3 of 3.0%, annualized • Continued strong quarterly NIM of 4.07% • Efficiency ratio: 64.22% • Loan to deposit ratio: 94.0% 1Represents a non-GAAP financial measure. See Non-GAAP Reconciliation 2Total revenue is net interest income plus noninterest income 3Excludes loans HFS

FirstSun Capital Bancorp | 8 Loan Portfolio Trends Portfolio Composition 44.1% 10.0% 10.9% 7.8% 18.1% 7.7% 1.4% Commercial and Industrial Commercial Real Estate: Owner Occupied Commercial Real Estate: Non-Owner Occupied Multifamily, Construction, and Land Residential Real Estate Public Finance Consumer and Other $ in m ill io ns Originations, Paydowns & Payoffs Loan Originations Loan Paydowns and Payoffs Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $200 $300 $400 $500 $600 Average Total Loans and Yield $6,460,484 $6,481,701 $6,420,710 $6,620,493 $6,667,158 6.68% 6.51% 6.36% 6.43% 6.49% Average Loans HFI + HFS Loan Yield Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 1 Regulatory CRE consists of commercial and residential construction, multifamily and non-owner occupied CRE ($ in thousands) • Balances up 4% from Q3 2024 • Balances up 11%, annualized from Q2 • No change in line utilization from Q2 • Low overall Regulatory CRE1 to capital level of 115% • Office CRE composition 3% of total loans: NOO of $45.1 million; OO of $160.8 million ◦ Not central business district properties • Loans to Nondepository Financial Institutions comprise less than 6% of total loans ◦ 98% pass graded • C&I lending emphasis • Maintain variable vs fixed portfolio mix ◦ ~ 65% variable (~ 55% repricing w/in 1 year): ▪ ~ 40% reprices monthly (< 30 days) ▪ ~ 15% reprices w/in months 2-12 • Ratable mid single digit growth expectation in 2025 Quarter Highlights Outlook

FirstSun Capital Bancorp | 9 Deposit Trends Average Deposit Composition $7,080,213 $6,945,433 $6,643,021 $6,627,469 $6,578,801 Noninterest-Bearing Demand Deposit Accounts Interest-Bearing Demand Accounts Savings Accounts and Money Market Accounts NOW Accounts Certificate of Deposit Accounts Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Cost of Deposits 3.14% 2.85% 2.73% 2.78% 2.81% 2.39% 2.17% 2.10% 2.15% 2.16% Int-bearing deposits Total Deposits Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Loan to Deposit Ratio 96.9% 95.6% 94.3% 91.6% 94.0% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ($ in thousands) • Balances up 7% from Q3 2024 • Average balances up 8%, annualized from Q2 • Continued mix shift ◦ Sav/MMDA increased to 45.4% from 44.6% ◦ CD’s decreased to 19.0% from 20.1% • Commercial business deposits represent 43% of total deposits and represent 75% of non-interest bearing • Ratable mid single digit growth expectation for 2025 • Continued mix shift ◦ Mid teen’s CD balance decline ◦ Mid single digit MMDA growth ◦ Mid to high single digit NIB growth • ~ 40% falling rate cycle interest bearing deposit beta Quarter Highlights Outlook 24.0% 10.5% 44.6% 20.1% 22.9% 10.3% 43.3% 22.9% 23.1% 10.3% 42.5% 23.5% 23.4% 9.7% 39.2% 27.1% 23.6% 11.4% 45.4% 19.0% Beta - Current Cycle = 34%1 1Change in cost of interest-bearing deposits from Q3 2024 to Q3 2025, divided by daily average cycle to date rate cut of 0.973%.

FirstSun Capital Bancorp | 10 NIM Bridge 4.07% (0.01)% 0.04% (0.03) 4.07% Q2 2025 Loans Other IB Assets IB Liabilities Q3 2025 Loans Yield, NIM, Cost of Funds 6.68% 6.51% 6.36% 6.43% 6.49% 4.08% 4.09% 4.07% 4.07% 4.07% 2.50% 2.27% 2.16% 2.19% 2.22% Loans Yield NIM Cost of Funds Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Interest Income $76,158 $77,047 $74,478 $78,499 $80,953 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Loan Repricing Mix 33% 52% 12% 2% Fixed SOFR Prime Other Net Interest Income & Net Interest Margin Trends ($ in thousands) • NII growth of 6.3% over Q3 2024 • Stability of NIM - trailing 12 qtrs above 4.00% ◦ Balance sheet composition Quarter Highlights Outlook • Two Fed rate cuts before end of 2025 • Stable NIM YoY Growth 6.3% 1Components of the NIM bridge are calculated based upon their proportion to total earning assets. 1

FirstSun Capital Bancorp | 11 Noninterest Income Trends Service Fees Composition $26,333 $27,073 $21,729 $21,635 $22,075 $12,641 $13,274 $9,055 $9,631 $8,838 $4,402 $4,333 $4,194 $3,982 $3,748 $2,671 $2,728 $2,586 $2,706 $2,738 $2,162 $2,016 $2,027 $2,219 $2,560 $1,536 $1,473 $1,421 $1,436 $1,395 $2,921 $3,249 $2,446 $1,661 $2,796 Mortgage Banking Service Fee Revenue Treasury Management Service Fees Credit and Debit Card Service Fees Deposit Service Fees Wealth Management Service Fees Other Noninterest Income Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 ($ in thousands) Quarter Highlights Outlook • Mid 20’s service fees to revenue • High single to low double digit growth rate for 2025 • Mortgage banking, treasury management and loan syndication arrangement services driving growth 1Total revenue is net interest income plus noninterest income • Treasury management revenue to revenue ~ 4% Mortgage Revenue Composition (1.7)% 13.4% (0.1)% 15.3% 12.0% 48.9% 45.6% 49.8% 35.0% 37.4% 52.8% 41.0% 50.4% 49.7% 50.6% 9.0% 9.8% 9.4% 12.6% 11.8% MSR, net Mortgage servicing revenue Origination revenue Percent of total revenue Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 —% 50.0% 100.0% Mortgage Originations 2.84% 2.76% 2.93% 2.88% 3.04% Total Secondary GoS margin Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $—M $150M $300M $450M • Diversified revenue base ~ 25% service fees to revenue1 • Mortgage banking revenue to revenue ~ 12% ◦ Mortgage volume sold of $381.4 million, up 6.3% over Q2 ◦ Margin of 3.04% compared to 2.88% in Q2 • Treasury management revenue to revenue ~ 4% 1

FirstSun Capital Bancorp | 12 Noninterest Expense Trends Noninterest Expense Composition $68,901 $68,110 $62,722 $73,673 $64,664 $44,822 $43,921 $39,561 $38,498 $39,306 $9,591 $9,541 $9,536 $9,865 $9,121 $13,910 $14,070 $12,997 $15,869 $13,953 $8,010 Salaries and Benefits Occupancy and Equipment Amortization of Intangible Assets Other Noninterest Expenses Terminated Merger Related Expenses Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Efficiency Ratio 65.83% 74.66% 65.19% 64.52% 64.22% 64.16% 63.63% Adjusted Efficiency Ratio Efficiency Ratio Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ($ in thousands) 1Represents a non-GAAP financial measure. See Non-GAAP Reconciliation • Noninterest expenses increased compared to Q2 primarily in Salaries and Benefits ◦ Increased headcount of C&I bankers and support personnel ◦ Higher medical insurance costs • Managed expense across all categories • Continued investment in building out franchise organically (sales force & infrastructure) ◦ Investing in growth markets • Mid 60’s efficiency ratio Quarter Highlights Outlook 1

FirstSun Capital Bancorp | 13 Asset Quality Trends Net Charge-Offs (Recoveries) $1,401 $631 $13,547 $9,053 $(462) Commercial and Industrial Public finance Commercial Real Estate, Residential Real Estate, Consumer and Other Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Allowance for Credit Losses $83,159 $88,221 $91,790 $82,993 $84,040 1.29% 1.38% 1.42% 1.28% 1.26% ACL ACL to Total Loans Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Nonperforming Loans $65,824 $69,050 $78,590 $54,841 $69,641 1.02% 1.08% 1.21% $— $— Nonperforming Loans Nonperforming Loans to Total Loans Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 ($ in thousands) ($ in thousands)($ in thousands) • Classified loans trended down 5% • Loan loss provisioning in Q3: ◦ Deterioration in a C&I customer relationship ◦ Impacts from net changes in loan portfolio balances ◦ Impacts from net portfolio downgrades Quarter Highlights Outlook • Net charge-off ratio in high 30’s to Low 40’s in bps • ACL in mid 120’s in bps Nonperforming Loans $65,824 $69,050 $78,590 $54,841 $69,641 1.02% 1.08% 1.21% 0.84% 1.04% Commercial and Industrial Residential Real Estate Commercial Real Estate Public Finance Consumer and Other Nonperforming Loans to Total Loans Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $— $30,000 $60,000 $90,000

FirstSun Capital Bancorp | 14 Asset Quality Trends (cont’d) ($ in thousands) ($ in thousands) Outlook • Net charge-off ratio in low 40’s in bps • ACL in mid 120’s in bps ACL & NCO %'s 1.18% 1.12% 1.28% 1.38% 1.26% 0.09% (0.01)% 0.13% 0.32% 0.48% 0.20% ACL to Total Loans Net Charge-Off (Recoveries) % Trailing 5 Year NCO % 2021 2022 2023 2024 2025 YTD Provision for Credit Losses & Net Charge-Offs $3,000 $18,050 $18,247 $27,550 $18,400 $3,219 $(320) $7,810 $20,377 $23,231 Provision for credit losses Net charge-offs 2021 2022 2023 2024 2025 YTD Nonperforming Loans $28,388 $29,067 $63,143 $69,050 $69,641 0.70% 0.49% 1.01% 1.08% 1.04% Commercial and Industrial Residential Real Estate Commercial Real Estate Public Finance Consumer and Other Nonperforming Loans to Total Loans 2021 2022 2023 2024 September 30, 2025 $— $30,000 $60,000 $90,000

FirstSun Capital Bancorp | 15 Capital and Liquidity Total Capital Ratio 15.25% 15.42% 15.52% 15.94% 15.81% Total Capital Ratio Capital Operating Threshold Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Common Equity Tier 1 Capital Ratio 13.06% 13.18% 13.26% 13.78% 13.79% CET1 Capital Operating Threshold Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Liquidity Ratios TCE / TA, + Net Unrealized Losses on HTM Securities Wholesale Deposits and Borrowings to Total Liabilities AOCI + HTM unrealized loss / Total Equity Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 3.00% 6.00% 9.00% 12.00% 15.00% ($ in thousands) • Wholesale funding reliance of 6% • Cash to total assets of 8% • AOCI & HTM unrealized loss to total equity of 3% • CET 1 of 13.79% Quarter Highlights Outlook • Liquidity & IRR ◦ Maintain historical solid liquidity positioning across multiple sources ◦ Maintain balance sheet strength and relative neutrality to downward/ upward rates (-/+ 100bps) • Capital ◦ Support organic growth thru earnings ◦ Opportunistic M&A $3.7B Immediate Borrowing Availability (1)Represents a non-GAAP financial measure. See Non-GAAP Reconciliation 1

FirstSun Capital Bancorp | 16 Consistent Long Term Strategy Key Southwest and Western Growth Markets C&I Focused Commercial Bank High Service Fee to Revenue Mix Core Deposit Franchise Operating Strategy Focused on Organic Loan and Deposit Growth in Targeted Markets Operating in 5 of 10 Fastest Growing MSA’s in US Robust Mix of Customer Relationships across Urban and Rural Communities Relationship Driven C&I Banking with Attractive Specialty Verticals Expansive Treasury Management Services Low CRE Concentration Revenue Diversification Emphasis Multiple Profitable Service Fee Income Lines of Business Best in Class Revenue Mix High Quality, Attractive Beta, Low Cost Deposits Balanced Distribution Across Deposit Rich Markets Advantageous Funding Solid Core Earnings Progression Sound Risk and Compliance Programs Opportunistic Acquisition Readiness 1 2 3 4 5

FirstSun Capital Bancorp | 17 2025 Full Year Outlook Business Driver FY 2025* Notes Loans (EOP) Mid Single Digit Growth Rate Primarily driven by net C&I production Deposits (EOP) Mid Single Digit Growth Rate Loan to Deposit ratio in mid 90’s Investment Securities No Change Maintain strategic focus on liquidity and collateral eligibility Net Interest Income (vs. 2024 of $296.9 million) Mid Single Digit Growth Rate Two 25bp rate cuts by end of year Noninterest Income (vs. 2024 of $89.8 million) High Single to Low Double Digit Growth Rate Higher growth in mortgage and treasury management Noninterest Expense (vs. 2024 adjusted of $248.0 million) Mid to High Single Digit Growth Rate Efficiency Ratio Mid 60’s Average for the year Net Charge Offs / Avg Loans Low 40’s in bps Tax Rate 20 - 22% CET1 Ratio Consistent * Refer to "Disclaimers" regarding forward looking statements. 2025 expectations assume no material changes to current regional and national macro-economic environment.

FirstSun Capital Bancorp | 18 Appendix

FirstSun Capital Bancorp | 19 C&I Portfolio by Industry Industry1 ($ in millions) Balance Change from Q2 2025 Average Loan Size Finance and Insurance $477.0 2.8% $4.1 Information (Technology, Media and Telecommunications) 387.9 11.7% 5.2 Healthcare 320.6 2.9% 0.6 Manufacturing 302.2 (5.5)% 2.1 Real Estate and Rental and Leasing 264.4 6.2% 1.8 Construction 229.8 14.2% 1.0 Other Services2 227.1 14.0% 1.3 Professional, Scientific, and Technical Services 208.3 7.4% 1.5 Wholesale Trade 156.7 8.0% 2.0 Retail Trade 95.4 35.6% 1.8 Transportation and Warehousing 94.7 (3.3)% 1.2 Arts, Entertainment, and Recreation 39.5 (11.2)% 4.0 Utilities 16.5 (46.9)% 8.2 Other 125.8 19.9% 7.9 16% 13% 11% 10% 9% 8% 8% 7% 5% 3% 3% 1% 1% 4% % of Total C&I Loans * Amounts may not total due to rounding; 1 These segments are based on two-digit NAICS industry divisions. 2 Also includes Administrative and Support, Waste Management and Remediation Services, and Public Administration. Average Loan Size Change from Q2 2025 $4.1 2.8% 5.2 11.7% 0.6 2.9% 2.1 (5.5)% 1.8 6.2% 1.0 14.2% 1.3 14.0% 1.5 7.4% 2.0 8.0% 1.8 35.6% 1.2 (3.3)% 4.0 (11.2)% 8.2 (46.9)% 7.9 19.9%

FirstSun Capital Bancorp | 20 Criticized Loans * Amounts may not total due to rounding; 1 These segments are based on two-digit NAICS industry divisions. Criticized Loans by Risk Grade $324.7 $285.2 $278.8 $263.5 $291.7 $134.5 $106.8 $93.7 $94.0 $130.1 $124.4 $110.8 $106.6 $114.9 $91.9 $53.3 $66.9 $50.9 $36.0 $59.9 $12.5 $27.6 $18.7 $9.7 5.0% 4.5% 4.3% 4.1% 4.4% Special Mention Substandard - Accruing Substandard - Nonaccrual Doubtful Criticized loans to total loans Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Manufacturing, $28.3 Real Estate and Rental and Leasing, $24.9 Construction, $57.9 Finance and Insurance, $9.2 Other Services, $22.6 Healthcare, $35.9 Transportation and Warehousing, $20.9 Residential Mortgage, $18.3 Professional, Scientific, and Technical Services, $31.1 Other, $27.8Manufacturing, $27.0 Real Estate and Rental and Leasing, $38.8 Construction, $53.4 Finance and Insurance, $0.1Other Services, $23.0Healthcare, $50.8 Transportation and Warehousing, $10.4 Residential Mortgage, $20.6 Professional, Scientific, and Technical Services, $9.5 Other, $12.5 Q3 2025 Q4 2024 Classified Loans by Indu try1 Criticized Loans by Industry $57.9 $24.9 $35.9 $28.3 $22.6 $20.9 $18.3 $9.2 $31.1 $12.1 $2.7 $27.8 $53.4 $38.8 $50.8 $27.0 $23.0 $10.4 $20.6 $0.1 $9.5 $27.1 $12.1 $12.5 Q3 2025 Q4 2024 Construction Real Estate and Rental and Leasing Healthcare Manufacturing Other Services Transportation and Warehousing Residential Mortgage Finance and Insurance Professional, Scientific, and Technical Services Information (Technology, Media and Telecommunications) Education Services Other 1 Example Total Return Performance Special Mention Substandard - Accruing Substandard - Nonaccrual Loss Doubtful Criticized loans to total loans Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 $—M $100.0M $200.0M $300.0M $400.0M $—M $8.0M $16.0M $24.0M $32.0M Example Total Return Perform nce ABC Company ABC Company NASDAQ Composite Widget Subcategory CEO Compensation 12/31/2007 12/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 0 100 200 300 400 40 60 80 100 120 ($ in millions) ($ in millions)

FirstSun Capital Bancorp | 21 ~ 64%1 of Total Deposits are FDIC-Insured Granular Deposit Base Customer Base 131,300 Consumer Accounts Granular Deposit Base $27,000 Avg. Account Balance Customer Base 12,900 Commercial Business Accounts Granular Deposit Base $237,000 Avg. Account Balance $7.1 Billion Total Deposits as of September 30, 2025 Deposits by State2 $2.4B Texas 21 branches $1.6B Kansas 23 branches $1.2B New Mexico 9 branches $0.8B Colorado 11 branches $0.5B Arizona 4 branches ~ 72%1 of Total Deposits are FDIC-Insured + Collateralized 1Uninsured deposits and uninsured and uncollateralized deposits are reported for our wholly-owned subsidiary Sunflower Bank, N.A. and are estimated. 2Excludes wholesale and internal deposit accounts. $0.2B California 2 branches $0.0B Washington 1 branch

FirstSun Capital Bancorp | 22 Financial Summary As of and for the three months ended As of and for the nine months ended ($ in thousands, except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 Net interest income $ 80,953 $ 78,499 $ 74,478 $ 77,047 $ 76,158 $ 233,930 $ 219,863 Provision for credit losses 10,100 4,500 3,800 4,850 5,000 18,400 22,700 Noninterest income 26,333 27,073 21,729 21,635 22,075 75,135 68,157 Noninterest expense 68,901 68,110 62,722 73,673 64,664 199,733 190,367 Income before income taxes 28,285 32,962 29,685 20,159 28,569 90,932 74,953 Provision for income taxes 5,111 6,576 6,116 3,809 6,147 17,803 15,675 Net income 23,174 26,386 23,569 16,350 22,422 73,129 59,278 Adjusted net income1 23,174 26,386 23,569 24,316 23,655 73,129 63,428 Weighted average common shares outstanding, diluted 28,291,778 28,232,319 28,293,912 28,290,474 28,212,809 28,274,134 27,976,215 Diluted earnings per share $ 0.82 $ 0.93 $ 0.83 $ 0.58 $ 0.79 $ 2.59 $ 2.12 Adjusted diluted earnings per share1 $ 0.82 $ 0.93 $ 0.83 $ 0.86 $ 0.84 $ 2.59 $ 2.27 Return on average total assets 1.09 % 1.28 % 1.20 % 0.81 % 1.12 % 1.19 % 1.01 % Adjusted return on average total assets1 1.09 % 1.28 % 1.20 % 1.20 % 1.18 % 1.19 % 1.09 % Pre-tax pre provision return on average assets1 1.81 % 1.82 % 1.70 % 1.24 % 1.68 % 1.78 % 1.67 % Adjusted pre-tax pre provision return on average assets1 1.81 % 1.82 % 1.70 % 1.78 % 1.76 % 1.78 % 1.76 % Return on average tangible stockholders' equity1 9.20 % 10.91 % 10.18 % 7.36 % 9.94 % 10.08 % 9.23 % Adjusted return on average tangible stockholders' equity1 9.20 % 10.91 % 10.18 % 10.72 % 10.48 % 10.08 % 9.86 % Net interest margin 4.07 % 4.07 % 4.07 % 4.09 % 4.08 % 4.07 % 4.04 % Efficiency ratio 64.22 % 64.52 % 65.19 % 74.66 % 65.83 % 64.62 % 66.10 % Adjusted efficiency ratio1 64.22 % 64.52 % 65.19 % 63.63 % 64.16 % 64.62 % 64.30 % Noninterest income to total revenue2 24.5 % 25.6 % 22.6 % 21.9 % 22.5 % 24.3 % 23.7 % Total assets $ 8,495,437 $ 8,435,861 $ 8,216,458 $ 8,097,387 $ 8,138,487 $ 8,495,437 $ 8,138,487 Total loans held-for-sale 85,250 90,781 65,603 61,825 72,247 85,250 72,247 Total loans held-for-investment 6,681,629 6,507,066 6,484,008 6,376,357 6,443,756 6,681,629 6,443,756 Total deposits 7,105,415 7,100,164 6,874,239 6,672,260 6,649,880 7,105,415 6,649,880 Total stockholders' equity 1,127,513 1,095,402 1,068,295 1,041,366 1,034,085 1,127,513 1,034,085 Loan to deposit ratio 94.0 % 91.6 % 94.3 % 95.6 % 96.9 % 94.0 % 96.9 % Period end common shares outstanding 27,854,764 27,834,525 27,753,918 27,709,679 27,665,918 27,854,764 27,665,918 Book value per share $ 40.48 $ 39.35 $ 38.49 $ 37.58 $ 37.38 $ 40.48 $ 37.38 Tangible book value per share1 $ 36.92 $ 35.77 $ 34.88 $ 33.94 $ 33.68 $ 36.92 $ 33.68 1 Represents a non-GAAP financial measure. See non-GAAP reconciliation 2 Total revenue is net interest income plus noninterest income.

FirstSun Capital Bancorp | 23 Non-GAAP Reconciliation As of and for the three months ended As of and for the nine months ended ($ in thousands, except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 Tangible stockholders’ equity to tangible assets: Total stockholders' equity (GAAP) $ 1,127,513 $ 1,095,402 $ 1,068,295 $ 1,041,366 $ 1,034,085 $ 1,127,513 $ 1,034,085 Less: Goodwill and other intangible assets Goodwill (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) Other intangible assets (5,650) (6,228) (6,806) (7,434) (8,866) (5,650) (8,866) Tangible stockholders' equity (non-GAAP) $ 1,028,380 $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 1,028,380 $ 931,736 Total assets (GAAP) $ 8,495,437 $ 8,435,861 $ 8,216,458 $ 8,097,387 $ 8,138,487 $ 8,495,437 $ 8,138,487 Less: Goodwill and other intangible assets Goodwill (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) Other intangible assets (5,650) (6,228) (6,806) (7,434) (8,866) (5,650) (8,866) Tangible assets (non-GAAP) $ 8,396,304 $ 8,336,150 $ 8,116,169 $ 7,996,470 $ 8,036,138 $ 8,396,304 $ 8,036,138 Total stockholders' equity to total assets (GAAP) 13.27 % 12.99 % 13.00 % 12.86 % 12.71 % 13.27 % 12.71 % Less: Impact of goodwill and other intangible assets (1.02) % (1.05) % (1.07) % (1.10) % (1.12) % (1.02) % (1.12) % Tangible stockholders' equity to tangible assets (non- GAAP) 12.25 % 11.94 % 11.93 % 11.76 % 11.59 % 12.25 % 11.59 % Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax: Tangible stockholders' equity (non-GAAP) $ 1,028,380 $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 1,028,380 $ 931,736 Less: Net unrealized losses on HTM securities, net of tax (3,432) (4,238) (3,803) (4,292) (2,852) (3,432) (2,852) Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP) $ 1,024,948 $ 991,453 $ 964,203 $ 936,157 $ 928,884 $ 1,024,948 $ 928,884 Tangible assets (non-GAAP) $ 8,396,304 $ 8,336,150 $ 8,116,169 $ 7,996,470 $ 8,036,138 $ 8,396,304 $ 8,036,138 Less: Net unrealized losses on HTM securities, net of tax (3,432) (4,238) (3,803) (4,292) (2,852) (3,432) (2,852) Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP) $ 8,392,872 $ 8,331,912 $ 8,112,366 $ 7,992,178 $ 8,033,286 $ 8,392,872 $ 8,033,286 Tangible stockholders’ equity to tangible assets (non-GAAP) 12.25 % 11.94 % 11.93 % 11.76 % 11.59 % 12.25 % 11.59 % Less: Impact of net unrealized losses on HTM securities, net of tax (0.04) % (0.04) % (0.04) % (0.05) % (0.03) % (0.04) % (0.03) % Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP) 12.21 % 11.90 % 11.89 % 11.71 % 11.56 % 12.21 % 11.56 %

FirstSun Capital Bancorp | 24 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the nine months ended ($ in thousands, except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 Tangible book value per share: Total stockholders' equity (GAAP) $ 1,127,513 $ 1,095,402 $ 1,068,295 $ 1,041,366 $ 1,034,085 $ 1,127,513 $ 1,034,085 Tangible stockholders' equity (non-GAAP) $ 1,028,380 $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 1,028,380 $ 931,736 Total shares outstanding 27,854,764 27,834,525 27,753,918 27,709,679 27,665,918 27,854,764 27,665,918 Book value per share (GAAP) $ 40.48 $ 39.35 $ 38.49 $ 37.58 $ 37.38 $ 40.48 $ 37.38 Tangible book value per share (non-GAAP) $ 36.92 $ 35.77 $ 34.88 $ 33.94 $ 33.68 $ 36.92 $ 33.68 Adjusted net income: Net income (GAAP) $ 23,174 $ 26,386 $ 23,569 $ 16,350 $ 22,422 $ 73,129 $ 59,278 Add: Non-recurring adjustments: Terminated merger related expenses, net of tax — — — 5,799 1,233 — 4,150 Write-off of Guardian Mortgage tradename, net of tax — — — 625 — — — Disposal of ATMs, net of tax — — — 1,542 — — — Total adjustments, net of tax — — — 7,966 1,233 — 4,150 Adjusted net income (non-GAAP) $ 23,174 $ 26,386 $ 23,569 $ 24,316 $ 23,655 $ 73,129 $ 63,428 Adjusted diluted earnings per share: Diluted earnings per share (GAAP) $ 0.82 $ 0.93 $ 0.83 $ 0.58 $ 0.79 $ 2.59 $ 2.12 Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — — — 0.21 0.05 — 0.15 Write-off of Guardian Mortgage tradename, net of tax — — — 0.02 — — — Disposal of ATMs, net of tax — — — 0.05 — — — Adjusted diluted earnings per share (non-GAAP) $ 0.82 $ 0.93 $ 0.83 $ 0.86 $ 0.84 $ 0.82 $ 0.82 Adjusted return on average total assets: Return on average total assets (ROAA) (GAAP) 1.09 % 1.28 % 1.20 % 0.81 % 1.12 % 1.19 % 1.01 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % — % 0.28 % 0.06 % — % 0.08 % Write-off of Guardian Mortgage tradename, net of tax — % — % — % 0.03 % — % — % — % Disposal of ATMs, net of tax — % — % — % 0.08 % — % — % — % Adjusted ROAA (non-GAAP) 1.09 % 1.28 % 1.20 % 1.20 % 1.18 % 1.19 % 1.09 %

FirstSun Capital Bancorp | 25 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the nine months ended ($ in thousands, except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 Adjusted pre-tax pre provision return on average assets: Net income (GAAP) $ 23,174 $ 26,386 $ 23,569 $ 16,350 $ 22,422 $ 73,129 $ 59,278 Add: Income taxes and provision for credit losses Income taxes 5,111 6,576 6,116 3,809 6,147 17,803 15,675 Provision for credit losses 10,100 4,500 3,800 4,850 5,000 18,400 22,700 PTPP net income $ 38,385 $ 37,462 $ 33,485 $ 25,009 $ 33,569 $ 109,332 $ 97,653 Add: Non-recurring adjustments Terminated merger related expenses — — — 8,010 1,633 — 5,168 Write-off of Guardian Mortgage tradename — — — 828 — — — Disposal of ATM's — — — 2,042 — — — Adjusted PTPP Net Income (non-GAAP) $ 38,385 $ 37,462 $ 33,485 $ 35,889 $ 35,202 $ 109,332 $ 102,821 Return on average total assets (ROAA) (GAAP) 1.09 % 1.28 % 1.20 % 0.81 % 1.12 % 1.19 % 1.01 % Add: Impact of income taxes and provision for credit losses Income taxes 0.24 % 0.32 % 0.31 % 0.19 % 0.31 % 0.29 % 0.27 % Provision for credit losses 0.48 % 0.22 % 0.19 % 0.24 % 0.25 % 0.30 % 0.39 % PTPP ROAA (non-GAAP) 1.81 % 1.82 % 1.70 % 1.24 % 1.68 % 1.78 % 1.67 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % — % 0.40 % 0.08 % — % 0.09 % Write-off of Guardian Mortgage tradename, net of tax — % — % — % 0.04 % — % — % — % Disposal of ATMs, net of tax — % — % — % 0.10 % — % — % — % Adjusted PTPP ROAA (non-GAAP) 1.81 % 1.82 % 1.70 % 1.78 % 1.76 % 1.78 % 1.76 % Adjusted return on average stockholders’ equity Return on average stockholders' equity (ROACE) (GAAP) 8.22 % 9.74 % 9.03 % 6.22 % 8.74 % 8.99 % 8.04 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % — % 2.19 % 0.48 % — % 0.56 % Write-off of Guardian Mortgage tradename, net of tax — % — % — % 0.24 % — % — % — % Disposal of ATMs, net of tax — % — % — % 0.59 % — % — % — % Adjusted ROACE (non-GAAP) 8.22 % 9.74 % 9.03 % 9.24 % 9.22 % 8.99 % 8.60 %

FirstSun Capital Bancorp | 26 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the nine months ended ($ in thousands, except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 September 30, 2025 September 30, 2024 Return on average tangible stockholders’ equity: Return on average stockholders’ equity (ROACE) (GAAP) 8.22 % 9.74 % 9.03 % 6.22 % 8.74 % 8.99 % 8.04 % Add: Impact from goodwill and other intangible assets Goodwill 0.81 % 0.98 % 0.94 % 0.67 % 0.98 % 0.90 % 0.94 % Other intangible assets 0.17 % 0.19 % 0.21 % 0.47 % 0.22 % 0.19 % 0.25 % Return on average tangible stockholders’ equity (ROATCE) (non-GAAP) 9.20 % 10.91 % 10.18 % 7.36 % 9.94 % 10.08 % 9.23 % Adjusted return on average tangible stockholders’ equity: Return on average tangible stockholders' equity (ROATCE) (non-GAAP) 9.20 % 10.91 % 10.18 % 7.36 % 9.94 % 10.08 % 9.23 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % — % 2.45 % 0.54 % — % 0.63 % Write-off of Guardian Mortgage tradename, net of tax — % — % — % 0.26 % — % — % — % Disposal of ATMs, net of tax — % — % — % 0.65 % — % — % — % Adjusted ROATCE (non-GAAP) 9.20 % 10.91 % 10.18 % 10.72 % 10.48 % 10.08 % 9.86 % Adjusted total noninterest expense: Total noninterest expense (GAAP) $ 68,901 $ 68,110 $ 62,722 $ 73,673 $ 64,664 $ 199,733 $ 190,367 Less: Non-recurring adjustments: Terminated merger related expenses — — — (8,010) (1,633) — (5,168) Write-off of Guardian Mortgage trade name — — — (828) — — — Disposal of ATMs — — — (2,042) — — — Total adjustments — — — (10,880) (1,633) — (5,168) Adjusted total noninterest expense (non-GAAP) $ 68,901 $ 68,110 $ 62,722 $ 62,793 $ 63,031 $ 199,733 $ 185,199 Adjusted efficiency ratio: Efficiency ratio (GAAP) 64.22 % 64.52 % 65.19 % 74.66 % 65.83 % 64.62 % 66.10 % Less: Impact of non-recurring adjustments Terminated merger related expenses — % — % — % (8.12) % (1.67) % — % (1.80) % Write-off of Guardian Mortgage tradename — % — % — % (0.84) % — % — % — % Disposal of ATMs — % — % — % (2.07) % — % — % — % Adjusted efficiency ratio (non-GAAP) 64.22 % 64.52 % 65.19 % 63.63 % 64.16 % 64.62 % 64.30 %