FirstSun Capital files pro forma financials for HomeStreet merger; bargain purchase gain of $25.6M

FIRSTSUN CAPITAL BANCORP

Pro forma combined net income for 2023: $150.5M vs FirstSun standalone $103.5M; HomeStreet had a net loss of $27.5M.
HomeStreet shareholders receive 0.4345 FSUN shares per HMST share; total consideration $295.3M at $35/FSUN.
Bargain purchase gain of $25.6M; total merger costs est. $86.8M pre-tax with $14.6M due at closing.
Pro forma total assets $16.57B; pro forma EPS $3.87 basic, $3.82 diluted.
Loan fair value mark $432.2M; core deposit intangible $82.8M (10-yr amort); Fannie Mae DUS license $15M indefinite-lived.

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