FirstSun Q2 net income $28M ($1.11 EPS); record earnings driven by NIM 4.24% and loan growth

FIRSTSUN CAPITAL BANCORP

2023-Q2 EPS reported $2.14

Net income $28.0M vs $0.4M in Q2 2022; diluted EPS $1.11 vs $0.02; prior quarter EPS was $1.03.
Net interest margin 4.24%, down 15bp from prior quarter; loan yield up 25bp to 6.13%.
Annualized loan growth 6.2% ($94M); average deposit growth 9.7% ($141M); loan-to-deposit 100.1%.
Noninterest income $24.3M (24.8% of revenue), up $5.4M QoQ on mortgage servicing and fees.
Tangible book value per share $28.76, up $1.04 from March 31; capital ratios above well-capitalized.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRSTSUN CAPITAL BANCORP reported second quarter ended June 30, 2023 results: net income $28.0 million, EPS $1.11 per diluted share.

Period: second quarter ended June 30, 2023
Net income: $28.0 million
EPS: $1.11 per diluted share
Result: reported results

Exact text from the filing

FirstSun Capital Bancorp Reports Second Quarter 2023 Results Second Quarter 2023 Highlights: • Net income of $28.0 million, $1.11 per diluted share

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Source: SEC EDGAR

accession 0001709442-23-000016

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