0001709442FALSE00017094422025-07-282025-07-28

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): July 28, 2025

FIRSTSUN CAPITAL BANCORP

(Exact name of registrant as specified in its charter)

Delaware			333-258176			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. ☐

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Item 2.02 Results of Operations and Financial Condition.

On July 28, 2025, FirstSun Capital Bancorp (the “Company”) issued an earnings press release announcing financial results for the second quarter ended June 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 July 28, 2025, the Company, made available on its website an investor presentation regarding the Company’s financial results for the second quarter ended June 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).

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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: July 28, 2025			By:			/s/ Robert A. Cafera, Jr.
			Name:			Robert A. Cafera, Jr.
			Title:			Senior Executive Vice President and Chief Financial Officer
						(Principal Financial Officer)

FirstSun Capital Bancorp Reports Second Quarter 2025 Results

Second Quarter 2025 Highlights:

•Net income of $26.4 million, $0.93 per diluted share

•Net interest margin of 4.07%

•Return on average total assets of 1.28%

•Return on average stockholders’ equity of 9.74%

•Deposit growth of 13.2%, annualized

•Loan growth of 1.4%, annualized

•25.6% noninterest income to total revenue1

Denver, Colorado – July 28, 2025 – FirstSun Capital Bancorp (“FirstSun”) (NASDAQ: FSUN) reported net income of $26.4 million for the second quarter of 2025 compared to net income of $24.6 million for the second quarter of 2024. Earnings per diluted share were $0.93 for the second quarter of 2025 compared to $0.88 for the second quarter of 2024. Adjusted net income, a non-GAAP financial measure, was $25.2 million or $0.90 per diluted share for the second quarter of 2024.

Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, “Our strong results this quarter continue to demonstrate the success of our relationship-focused business model, a well-diversified business mix, and the execution of our core strategic initiatives. Performance this quarter was highlighted by exceptional deposit growth, a stable net interest margin, an increase in service fees to revenue mix to 25.6% and 12.0% earnings per share growth. While we saw higher credit costs this quarter amidst the challenging banking environment, the hard work and focus of all our teams across the organization is recognized in our results. We continue to diligently focus on credit administration and responsibly growing the business by delivering the best solutions to all our customers throughout our high growth southwestern and western market footprint.”

Second Quarter 2025 Results

Net income totaled $26.4 million, or $0.93 per diluted share, for the second quarter of 2025, compared to $23.6 million, or $0.83 per diluted share, for the prior quarter.

The return on average total assets was 1.28% for the second quarter of 2025, compared to 1.20% for the prior quarter, and the return on average stockholders’ equity was 9.74% for the second quarter of 2025, compared to 9.03% for the prior quarter.

Net Interest Income and Net Interest Margin

Net interest income totaled $78.5 million for the second quarter of 2025, an increase of $4.0 million compared to the prior quarter. Our net interest margin of 4.07% was unchanged compared to the prior quarter. Results for the second quarter of 2025, compared to the prior quarter, were primarily driven by an increase of four basis points in the yield on earning assets, offset by an increase of four basis points in the cost of interest-bearing liabilities.

1 Total revenue is net interest income plus noninterest income.

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Average loans, including loans held-for-sale, increased by $199.8 million in the second quarter of 2025, compared to the prior quarter. Loan yield increased by seven basis points to 6.43% in the second 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 $247.3 million in the second quarter of 2025, compared to the prior quarter. Total cost of interest-bearing deposits increased by five basis points to 2.78% in the second quarter of 2025, compared to the prior quarter, primarily due to an increase in promotional rate money market deposits.

Asset Quality and Provision for Credit Losses

The provision for credit losses totaled $4.5 million for the second quarter of 2025 primarily due to deterioration in a couple of commercial and industrial (“C&I”) customer relationships and impacts from net portfolio downgrades, partially offset by impacts from net changes in loan portfolio balances.

Net charge-offs for the second quarter of 2025 were $13.5 million resulting in an annualized ratio of net charge-offs to average loans of 0.83%, compared to net charge-offs of $0.6 million, or an annualized ratio of net-charge offs to average loans of 0.04% for the prior quarter. Net charge-offs for the second 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 1.28% at June 30, 2025, a decrease of 14 basis points from the prior quarter. The ratio of nonperforming assets to total assets was 0.80% at June 30, 2025, compared to 1.02% at March 31, 2025.

Noninterest Income

Noninterest income totaled $27.1 million for the second quarter of 2025, an increase of $5.3 million from the prior quarter. Mortgage banking income increased $4.2 million for the second quarter of 2025, primarily due to an increase in MSR capitalization and gain on sales, due to seasonally higher mortgage loans sold.

Other noninterest income increased $0.8 million for the second quarter of 2025, primarily due to an increase in the fair value of investments related to our deferred compensation plan.

Noninterest income as a percentage of total revenue2 was 25.6%, an increase of 3.0% from the prior quarter.

Noninterest Expense

Noninterest expense totaled $68.1 million for the second quarter of 2025, an increase of $5.4 million from the prior quarter, primarily due to an increase in salary and employee benefits of $4.4 million as a result of higher levels of variable compensation and an increase in the fair value of investments related to our deferred compensation plan.

The efficiency ratio for the second quarter of 2025 was 64.52% compared to 65.19% for the prior quarter.

Tax Rate

The effective tax rate was 20.0% for the second quarter of 2025, compared to 20.6% for the prior quarter.

2 Total revenue is net interest income plus noninterest income.

2

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Loans

Loans were $6.5 billion at June 30, 2025 and March 31, 2025, increasing $23.1 million in the second quarter of 2025, or 1.4% on an annualized basis, primarily due to an increase of $31.0 million in residential real estate and $16.6 million in commercial and industrial, partially offset by a decrease of $26.8 million in public finance.

Deposits

Deposits were $7.1 billion at June 30, 2025 compared to $6.9 billion at March 31, 2025, an increase of $225.9 million in the second quarter of 2025, or 13.2% on an annualized basis, primarily due to growth of $191.7 million in savings and money market accounts, and $131.9 million in noninterest-bearing demand deposit accounts, partially offset by a decrease of $146.9 million in certificates of deposits.

Noninterest-bearing deposit accounts represented 24.0% of total deposits at June 30, 2025 and the loan-to-deposit ratio was 91.6% at June 30, 2025.

Capital

Capital ratios remain strong and above “well-capitalized” thresholds. As of June 30, 2025, our common equity tier 1 risk-based capital ratio was 13.78%, total risk-based capital ratio was 15.94% and tier 1 leverage ratio was 12.39%. Book value per share was $39.35 at June 30, 2025, an increase of $0.86 from March 31, 2025. Tangible book value per share, a non-GAAP financial measure, was $35.77 at June 30, 2025, an increase of $0.89 from March 31, 2025.

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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 $8.4 billion as of June 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.

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Summary Data:

			As of and for the three months ended
($ in thousands, except per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024
Net interest income			$	78,499					$	74,478					$	77,047					$	76,158					$	72,899
Provision for credit losses			4,500						3,800						4,850						5,000						1,200
Noninterest income			27,073						21,729						21,635						22,075						23,274
Noninterest expense			68,110						62,722						73,673						64,664						63,875
Income before income taxes			32,962						29,685						20,159						28,569						31,098
Provision for income taxes			6,576						6,116						3,809						6,147						6,538
Net income			26,386						23,569						16,350						22,422						24,560
Adjusted net income1			26,386						23,569						24,316						23,655						25,181
Weighted average common shares outstanding, basic			27,783,710						27,721,760						27,668,470						27,612,538						27,430,761
Weighted average common shares outstanding, diluted			28,232,319						28,293,912						28,290,474						28,212,809						28,031,956
Diluted earnings per share			$	0.93					$	0.83					$	0.58					$	0.79					$	0.88
Adjusted diluted earnings per share1			$	0.93					$	0.83					$	0.86					$	0.84					$	0.90
Return on average total assets			1.28		%				1.20		%				0.81		%				1.12		%				1.27		%
Adjusted return on average total assets1			1.28		%				1.20		%				1.20		%				1.18		%				1.30		%
Return on average stockholders' equity			9.74		%				9.03		%				6.22		%				8.74		%				10.08		%
Adjusted return on average stockholders' equity1			9.74		%				9.03		%				9.24		%				9.22		%				10.34		%
Return on average tangible stockholders' equity1			10.91		%				10.18		%				7.36		%				9.94		%				11.51		%
Adjusted return on average tangible stockholders' equity1			10.91		%				10.18		%				10.72		%				10.48		%				11.79		%
Net interest margin			4.07		%				4.07		%				4.09		%				4.08		%				4.04		%
Net interest margin (FTE basis)1			4.13		%				4.13		%				4.15		%				4.13		%				4.10		%
Efficiency ratio			64.52		%				65.19		%				74.66		%				65.83		%				66.42		%
Adjusted efficiency ratio1			64.52		%				65.19		%				63.63		%				64.16		%				65.33		%
Noninterest income to total revenue2			25.6		%				22.6		%				21.9		%				22.5		%				24.2		%
Total assets			$	8,435,861					$	8,216,458					$	8,097,387					$	8,138,487					$	7,999,295
Total loans held-for-sale			90,781						65,603						61,825						72,247						66,571
Total loans held-for-investment			6,507,066						6,484,008						6,376,357						6,443,756						6,337,162
Total deposits			7,100,164						6,874,239						6,672,260						6,649,880						6,619,525
Total stockholders' equity			1,095,402						1,068,295						1,041,366						1,034,085						996,599
Loan to deposit ratio			91.6		%				94.3		%				95.6		%				96.9		%				95.7		%
Period end common shares outstanding			27,834,525						27,753,918						27,709,679						27,665,918						27,443,246
Book value per share			$	39.35					$	38.49					$	37.58					$	37.38					$	36.31
Tangible book value per share1			$	35.77					$	34.88					$	33.94					$	33.68					$	32.56
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.

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									As of and for the six months ended
($ in thousands, except per share amounts)																																	June 30, 2025						June 30, 2024
Net interest income																																	$	152,977					$	143,705
Provision for credit losses																																	8,300						17,700
Noninterest income																																	48,802						46,082
Noninterest expense																																	130,832						125,703
Income before income taxes																																	62,647						46,384
Provision for income taxes																																	12,692						9,528
Net income																																	49,955						36,856
Adjusted net income1																																	49,955						39,773
Weighted average common shares outstanding, basic																																	27,753,098						27,224,968
Weighted average common shares outstanding, diluted																																	28,263,943						27,825,189
Diluted earnings per share																																	$	1.77					$	1.32
Adjusted diluted earnings per share1																																	$	1.77					$	1.43
Return on average total assets																																	1.24		%				0.96		%
Adjusted return on average total assets1																																	1.24		%				1.04		%
Return on average stockholders' equity																																	9.39		%				7.66		%
Adjusted return on average stockholders’ equity1																																	9.39		%				8.27		%
Return on average tangible stockholders' equity1																																	10.55		%				8.85		%
Adjusted return on average tangible stockholders' equity1																																	10.55		%				9.53		%
Net interest margin																																	4.07		%				4.03		%
Net interest margin (FTE basis)1																																	4.13		%				4.09		%
Efficiency ratio																																	64.84		%				66.23		%
Adjusted efficiency ratio1																																	64.84		%				64.37		%
Noninterest income to total revenue2																																	24.2		%				24.3		%
Total assets																																	$	8,435,861					$	7,999,295
Total loans held-for-sale																																	90,781						66,571
Total loans held-for-investment																																	6,507,066						6,337,162
Total deposits																																	7,100,164						6,619,525
Total stockholders' equity																																	1,095,402						996,599
Loan to deposit ratio																																	91.6		%				95.7		%
Period end common shares outstanding																																	27,834,525						27,443,246
Book value per share																																	$	39.35					$	36.31
Tangible book value per share1																																	$	35.77					$	32.56
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.

    

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Condensed Consolidated Statements of Income (Unaudited):

			For the three months ended												For the six months ended
($ in thousands, except per share amounts)			June 30, 2025																								June 30, 2024						June 30, 2025						June 30, 2024
Total interest income			$	116,921																							$	114,529					$	227,368					$	224,569
Total interest expense			38,422																								41,630						74,391						80,864
Net interest income			78,499																								72,899						152,977						143,705
Provision for credit losses			4,500																								1,200						8,300						17,700
Net interest income after credit loss expense			73,999																								71,699						144,677						126,005
Noninterest income:
Service charges on deposit accounts			2,016																								2,372						4,043						4,716
Treasury management service fees			4,333																								3,631						8,527						7,099
Credit and debit card fees			2,728																								2,950						5,314						5,709
Trust and investment advisory fees			1,473																								1,493						2,894						2,956
Income from mortgage banking services, net			13,274																								11,043						22,329						20,545
Other noninterest income			3,249																								1,785						5,695						5,057
Total noninterest income			27,073																								23,274						48,802						46,082
Noninterest expense:
Salary and employee benefits			43,921																								39,828						83,482						77,181
Occupancy and equipment			9,541																								8,701						19,077						17,296
Amortization and impairment of intangible assets			578																								652						1,206						1,467
Terminated merger related expenses			—																								1,046						—						3,535
Other noninterest expenses			14,070																								13,648						27,067						26,224
Total noninterest expense			68,110																								63,875						130,832						125,703
Income before income taxes			32,962																								31,098						62,647						46,384
Provision for income taxes			6,576																								6,538						12,692						9,528
Net income			$	26,386																							$	24,560					$	49,955					$	36,856
Earnings per share - basic			$	0.95																							$	0.90					$	1.80					$	1.35
Earnings per share - diluted			$	0.93																							$	0.88					$	1.77					$	1.32

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			For the three months ended
($ in thousands, except per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024
Total interest income			$	116,921					$	110,447					$	116,039					$	118,932					$	114,529
Total interest expense			38,422						35,969						38,992						42,774						41,630
Net interest income			78,499						74,478						77,047						76,158						72,899
Provision for credit losses			4,500						3,800						4,850						5,000						1,200
Net interest income after credit loss expense			73,999						70,678						72,197						71,158						71,699
Noninterest income:
Service charges on deposit accounts			2,016						2,027						2,219						2,560						2,372
Treasury management service fees			4,333						4,194						3,982						3,748						3,631
Credit and debit card fees			2,728						2,586						2,706						2,738						2,950
Trust and investment advisory fees			1,473						1,421						1,436						1,395						1,493
Income from mortgage banking services, net			13,274						9,055						9,631						8,838						11,043
Other noninterest income			3,249						2,446						1,661						2,796						1,785
Total noninterest income			27,073						21,729						21,635						22,075						23,274
Noninterest expense:
Salary and employee benefits			43,921						39,561						38,498						39,306						39,828
Occupancy and equipment			9,541						9,536						9,865						9,121						8,701
Amortization and impairment of intangible assets			578						628						1,431						651						652
Terminated merger related expenses			—						—						8,010						1,633						1,046
Other noninterest expenses			14,070						12,997						15,869						13,953						13,648
Total noninterest expense			68,110						62,722						73,673						64,664						63,875
Income before income taxes			32,962						29,685						20,159						28,569						31,098
Provision for income taxes			6,576						6,116						3,809						6,147						6,538
Net income			$	26,386					$	23,569					$	16,350					$	22,422					$	24,560
Earnings per share - basic			$	0.95					$	0.85					$	0.59					$	0.81					$	0.90
Earnings per share - diluted			$	0.93					$	0.83					$	0.58					$	0.79					$	0.88

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Condensed Consolidated Balance Sheets as of (Unaudited):

($ in thousands)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024
Assets
Cash and cash equivalents			$	785,115					$	621,377					$	615,917					$	573,674					$	535,766
Securities available-for-sale, at fair value			473,468						480,615						469,076						496,811						491,649
Securities held-to-maturity			34,581						34,914						35,242						35,885						36,310
Loans held-for-sale, at fair value			90,781						65,603						61,825						72,247						66,571
Loans			6,507,066						6,484,008						6,376,357						6,443,756						6,337,162
Allowance for credit losses			(82,993)						(91,790)						(88,221)						(83,159)						(78,960)
Loans, net			6,424,073						6,392,218						6,288,136						6,360,597						6,258,202
Mortgage servicing rights, at fair value			84,736						82,927						84,258						78,799						80,744
Premises and equipment, net			82,248						82,333						82,483						82,532						83,320
Other real estate owned and foreclosed assets, net			13,052						4,914						5,138						4,478						4,497
Goodwill			93,483						93,483						93,483						93,483						93,483
Core deposits and other intangible assets, net			6,228						6,806						7,434						8,866						9,517
Other assets			348,096						351,268						354,395						331,115						339,236
Total assets			$	8,435,861					$	8,216,458					$	8,097,387					$	8,138,487					$	7,999,295
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing accounts			$	1,706,678					$	1,574,736					$	1,541,158					$	1,554,762					$	1,562,308
Interest-bearing accounts:
Interest-bearing demand accounts			745,750						708,783						685,865						645,647						538,232
Savings and money market accounts			3,166,466						2,974,774						2,834,123						2,608,808						2,505,439
NOW accounts			52,005						39,806						45,539						41,234						42,687
Certificate of deposit accounts			1,429,265						1,576,140						1,565,575						1,799,429						1,970,859
Total deposits			7,100,164						6,874,239						6,672,260						6,649,880						6,619,525
Securities sold under agreements to repurchase			11,173						8,515						14,699						10,913						20,408
Federal Home Loan Bank advances			—						35,000						135,000						215,000						145,000
Subordinated debt, net			76,066						75,969						75,841						75,709						75,577
Other liabilities			153,056						154,440						158,221						152,900						142,186
Total liabilities			7,340,459						7,148,163						7,056,021						7,104,402						7,002,696
Stockholders' equity:
Preferred stock			—						—						—						—						—
Common stock			3						3						3						3						3
Additional paid-in capital			547,950						547,484						547,325						547,271						543,339
Retained earnings			583,105						556,719						533,150						516,800						494,378
Accumulated other comprehensive loss, net			(35,656)						(35,911)						(39,112)						(29,989)						(41,121)
Total stockholders' equity			1,095,402						1,068,295						1,041,366						1,034,085						996,599
Total liabilities and stockholders' equity			$	8,435,861					$	8,216,458					$	8,097,387					$	8,138,487					$	7,999,295

9

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Consolidated Capital Ratios as of:

			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024
Stockholders' equity to total assets			12.99		%				13.00		%				12.86		%				12.71		%				12.46		%
Tangible stockholders' equity to tangible assets1			11.94		%				11.93		%				11.76		%				11.59		%				11.32		%
Tangible stockholders' equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax1, 2			11.90		%				11.89		%				11.71		%				11.56		%				11.27		%
Tier 1 leverage ratio			12.39		%				12.47		%				12.11		%				11.96		%				11.83		%
Common equity tier 1 risk-based capital ratio			13.78		%				13.26		%				13.18		%				13.06		%				12.80		%
Tier 1 risk-based capital ratio			13.78		%				13.26		%				13.18		%				13.06		%				12.80		%
Total risk-based capital ratio			15.94		%				15.52		%				15.42		%				15.25		%				14.95		%
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.

10

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Summary of Net Interest Margin:

			For the three months ended																								For the six months ended
			June 30, 2025												June 30, 2024												June 30, 2025												June 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			6,620,493												6.43		%				6,384,709												6.63		%				6,521,154												6.39		%				6,349,282												6.57		%
Investment securities			510,350												3.48		%				523,545												3.67		%				506,103												3.51		%				535,252												3.48		%
Interest-bearing cash and other assets			596,713												4.28		%				348,509												5.28		%				549,050												4.32		%				294,009												5.37		%
Total earning assets			7,727,556												6.07		%				7,256,763												6.35		%				7,576,307												6.05		%				7,178,543												6.29		%
Other assets			537,156																		548,465																		543,032																		548,553
Total assets			$	8,264,712																	$	7,805,228																	$	8,119,339																	$	7,727,096
Interest-bearing liabilities
Demand and NOW deposits			$	793,461											3.26		%				$	621,343											3.82		%				$	757,282											3.23		%				$	585,417											3.70		%
Savings deposits			401,093												0.58		%				413,699												0.70		%				400,948												0.58		%				417,791												0.69		%
Money market deposits			2,659,342												2.42		%				2,092,449												2.02		%				2,551,141												2.31		%				2,077,885												1.98		%
Certificates of deposits			1,504,235												3.76		%				1,823,522												4.71		%				1,525,814												3.84		%				1,819,075												4.67		%
Total deposits			5,358,131												2.78		%				4,951,013												3.13		%				5,235,185												2.76		%				4,900,168												3.07		%
Repurchase agreements			9,024												1.61		%				16,553												1.16		%				9,318												1.59		%				18,904												1.11		%
Total deposits and repurchase agreements			5,367,155												2.78		%				4,967,566												3.12		%				5,244,503												2.76		%				4,919,072												3.07		%
FHLB borrowings			2,308												4.72		%				130,871												5.70		%				15,823												4.61		%				120,824												5.65		%
Other long-term borrowings			76,025												6.19		%				75,522												6.62		%				75,966												6.31		%				75,456												6.64		%
Total interest-bearing liabilities			5,445,488												2.83		%				5,173,959												3.24		%				5,336,292												2.81		%				5,115,352												3.18		%
Noninterest-bearing deposits			1,587,302																		1,517,560																		1,559,878																		1,510,134
Other liabilities			145,064																		133,845																		150,172																		134,106
Stockholders' equity			1,086,858																		979,864																		1,072,997																		967,504
Total liabilities and stockholders' equity			$	8,264,712																	$	7,805,228																	$	8,119,339																	$	7,727,096
Net interest spread															3.24		%																3.11		%																3.24		%																3.11		%
Net interest margin															4.07		%																4.04		%																4.07		%																4.03		%
Net interest margin (on FTE basis)2															4.13		%																4.10		%																4.13		%																4.09		%
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.

11

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			For the three months ended
			June 30, 2025												March 31, 2025												December 31, 2024												September 30, 2024												June 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			6,620,493												6.43		%				6,420,710												6.36		%				6,481,701												6.51		%				6,460,484												6.68		%				6,384,709												6.63		%
Investment securities			510,350												3.48		%				501,809												3.53		%				519,221												3.40		%				527,241												3.60		%				523,545												3.67		%
Interest-bearing cash and other assets			596,713												4.28		%				500,857												4.37		%				491,326												4.48		%				442,632												5.14		%				348,509												5.28		%
Total earning assets			7,727,556												6.07		%				7,423,376												6.03		%				7,492,248												6.16		%				7,430,357												6.37		%				7,256,763												6.35		%
Other assets			537,156																		548,976																		542,862																		534,740																		548,465
Total assets			$	8,264,712																	$	7,972,352																	$	8,035,110																	$	7,965,097																	$	7,805,228
Interest-bearing liabilities
Demand and NOW deposits			$	793,461											3.26		%				$	720,700											3.21		%				$	703,087											3.45		%				$	657,537											3.73		%				$	621,343											3.82		%
Savings deposits			401,093												0.58		%				400,801												0.58		%				404,762												0.64		%				411,526												0.71		%				413,699												0.70		%
Money market deposits			2,659,342												2.42		%				2,441,737												2.19		%				2,348,328												2.23		%				2,140,552												2.24		%				2,092,449												2.02		%
Certificates of deposits			1,504,235												3.76		%				1,547,634												3.91		%				1,589,721												4.08		%				1,800,502												4.56		%				1,823,522												4.71		%
Total deposits			5,358,131												2.78		%				5,110,872												2.73		%				5,045,898												2.85		%				5,010,117												3.14		%				4,951,013												3.13		%
Repurchase agreements			9,024												1.61		%				9,615												1.57		%				10,964												1.45		%				13,528												1.29		%				16,553												1.16		%
Total deposits and repurchase agreements			5,367,155												2.78		%				5,120,487												2.73		%				5,056,862												2.85		%				5,023,645												3.14		%				4,967,566												3.12		%
FHLB borrowings			2,308												4.72		%				29,489												4.60		%				121,957												5.02		%				135,641												5.58		%				130,871												5.70		%
Other long-term borrowings			76,025												6.19		%				75,907												6.43		%				75,778												6.41		%				75,654												6.54		%				75,522												6.62		%
Total interest-bearing liabilities			5,445,488												2.83		%				5,225,883												2.79		%				5,254,597												2.95		%				5,234,940												3.25		%				5,173,959												3.24		%
Noninterest-bearing deposits			1,587,302																		1,532,150																		1,581,571																		1,568,685																		1,517,560
Other liabilities			145,064																		155,337																		152,552																		141,206																		133,845
Stockholders' equity			1,086,858																		1,058,982																		1,046,390																		1,020,266																		979,864
Total liabilities and stockholders' equity			$	8,264,712																	$	7,972,352																	$	8,035,110																	$	7,965,097																	$	7,805,228
Net interest spread															3.24		%																3.24		%																3.21		%																3.12		%																3.11		%
Net interest margin															4.07		%																4.07		%																4.09		%																4.08		%																4.04		%
Net interest margin (on FTE basis)2															4.13		%																4.13		%																4.15		%																4.13		%																4.10		%
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.

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Deposits as of:

($ in thousands)			June 30, 2025						March 31, 2025												December 31, 2024						September 30, 2024						June 30, 2024
Consumer
Noninterest bearing deposit accounts			$	426,909					$	412,734											$	410,303					$	397,880					$	414,795
Interest-bearing deposit accounts:
Demand and NOW deposits			113,415						93,675												61,987						61,929						42,903
Savings deposits			322,672						330,489												326,916						331,811						334,741
Money market deposits			1,803,348						1,600,413												1,516,577						1,333,486						1,243,355
Certificates of deposits			937,439						1,065,839												1,069,704						1,247,348						1,438,792
Total interest-bearing deposit accounts			3,176,874						3,090,416												2,975,184						2,974,574						3,059,791
Total consumer deposits			$	3,603,783					$	3,503,150											$	3,385,487					$	3,372,454					$	3,474,586
Business
Noninterest bearing deposit accounts			$	1,279,769					$	1,162,002											$	1,130,855					$	1,156,882					$	1,147,513
Interest-bearing deposit accounts:
Demand and NOW deposits			684,340						654,914												669,417						624,952						538,016
Savings deposits			74,448						75,132												75,422						77,744						77,931
Money market deposits			965,998						968,740												915,208						865,767						849,412
Certificates of deposits			56,930						65,420												51,131						62,187						90,189
Total interest-bearing deposit accounts			1,781,716						1,764,206												1,711,178						1,630,650						1,555,548
Total business deposits			$	3,061,485					$	2,926,208											$	2,842,033					$	2,787,532					$	2,703,061
Wholesale deposits1			$	434,896					$	444,881											$	444,740					$	489,894					$	441,878
Total deposits			$	7,100,164					$	6,874,239											$	6,672,260					$	6,649,880					$	6,619,525
1 Wholesale deposits primarily consist of brokered deposits included in our condensed consolidated balance sheets within certificates of deposits.

Balance Sheet Ratios as of:

			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024
Cash to total assets1			9.20		%				7.50		%				7.50		%				6.90		%				6.60		%
Loan to deposit ratio			91.6		%				94.3		%				95.6		%				96.9		%				95.7		%
Uninsured deposits to total deposits2			37.0		%				35.2		%				34.8		%				32.7		%				32.1		%
Uninsured and uncollateralized deposits to total deposits2			28.3		%				26.4		%				25.2		%				26.8		%				25.5		%
Wholesale deposits and borrowings to total liabilities3			5.9		%				6.7		%				8.2		%				9.9		%				8.4		%
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.

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Loan Portfolio as of:

($ in thousands)			June 30, 2025						March 31, 2025												December 31, 2024						September 30, 2024						June 30, 2024
Commercial and industrial			$	2,651,646					$	2,635,028											$	2,497,772					$	2,527,636					$	2,431,110
Commercial real estate:
Non-owner occupied			705,749						733,949												752,861						821,670						866,999
Owner occupied			662,120						679,137												702,773						700,325						660,511
Construction and land			383,969						386,056												362,677						333,457						350,878
Multifamily			134,520						85,239												94,355						95,125						94,220
Total commercial real estate			1,886,358						1,884,381												1,912,666						1,950,577						1,972,608
Residential real estate1			1,226,760						1,195,714												1,180,610						1,172,459						1,146,989
Public Finance			524,441						551,252												554,784						536,776						537,872
Consumer			43,080						39,096												41,345						45,267						42,129
Other			174,781						178,537												189,180						211,041						206,454
Total loans, net of deferred costs, fees, premiums, and discounts			$	6,507,066					$	6,484,008											$	6,376,357					$	6,443,756					$	6,337,162
1 Includes 1-4 family residential construction.

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Asset Quality:

			As of and for the three months ended																														As of and for the six months ended
($ in thousands)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						June 30, 2025						June 30, 2024
Net charge-offs (recoveries)			$	13,547					$	631					$	(462)					$	1,401					$	2,009					$	14,178					$	19,438
Allowance for credit losses			$	82,993					$	91,790					$	88,221					$	83,159					$	78,960					$	82,993					$	78,960
Nonperforming loans, including nonaccrual loans, and accrual loans greater than 90 days past due			$	54,841					$	78,590					$	69,050					$	65,824					$	62,558					$	54,841					$	62,558
Nonperforming assets			$	67,893					$	83,504					$	74,188					$	70,302					$	67,055					$	67,893					$	67,055
Ratio of net charge-offs (recoveries) to average loans outstanding			0.83		%				0.04		%				(0.03)		%				0.09		%				0.13		%				0.44		%				0.62		%
Allowance for credit losses to total loans outstanding			1.28		%				1.42		%				1.38		%				1.29		%				1.25		%				1.28		%				1.25		%
Allowance for credit losses to total nonperforming loans			151.33		%				116.80		%				127.76		%				126.34		%				126.22		%				151.33		%				126.22		%
Nonperforming loans to total loans			0.84		%				1.21		%				1.08		%				1.02		%				0.99		%				0.84		%				0.99		%
Nonperforming assets to total assets			0.80		%				1.02		%				0.92		%				0.86		%				0.84		%				0.80		%				0.84		%

15

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Non-GAAP Financial Measures and Reconciliations:

			As of and for the three months ended																														As of and for the six months ended
($ in thousands, except share and per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						June 30, 2025						June 30, 2024
Tangible stockholders’ equity to tangible assets:
Total stockholders' equity (GAAP)			$	1,095,402					$	1,068,295					$	1,041,366					$	1,034,085					$	996,599					$	1,095,402					$	996,599
Less: Goodwill and other intangible assets
Goodwill			(93,483)						(93,483)						(93,483)						(93,483)						(93,483)						(93,483)						(93,483)
Other intangible assets			(6,228)						(6,806)						(7,434)						(8,866)						(9,517)						(6,228)						(9,517)
Tangible stockholders' equity (non-GAAP)			$	995,691					$	968,006					$	940,449					$	931,736					$	893,599					$	995,691					$	893,599
Total assets (GAAP)			$	8,435,861					$	8,216,458					$	8,097,387					$	8,138,487					$	7,999,295					$	8,435,861					$	7,999,295
Less: Goodwill and other intangible assets
Goodwill			(93,483)						(93,483)						(93,483)						(93,483)						(93,483)						(93,483)						(93,483)
Other intangible assets			(6,228)						(6,806)						(7,434)						(8,866)						(9,517)						(6,228)						(9,517)
Tangible assets (non-GAAP)			$	8,336,150					$	8,116,169					$	7,996,470					$	8,036,138					$	7,896,295					$	8,336,150					$	7,896,295
Total stockholders' equity to total assets (GAAP)			12.99		%				13.00		%				12.86		%				12.71		%				12.46		%				12.99		%				12.46		%
Less: Impact of goodwill and other intangible assets			(1.05)		%				(1.07)		%				(1.10)		%				(1.12)		%				(1.14)		%				(1.05)		%				(1.14)		%
Tangible stockholders' equity to tangible assets (non-GAAP)			11.94		%				11.93		%				11.76		%				11.59		%				11.32		%				11.94		%				11.32		%
Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax:
Tangible stockholders' equity (non-GAAP)			$	995,691					$	968,006					$	940,449					$	931,736					$	893,599					$	995,691					$	893,599
Less: Net unrealized losses on HTM securities, net of tax			(4,238)						(3,803)						(4,292)						(2,852)						(3,949)						(4,238)						(3,949)
Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP)			$	991,453					$	964,203					$	936,157					$	928,884					$	889,650					$	991,453					$	889,650
Tangible assets (non-GAAP)			$	8,336,150					$	8,116,169					$	7,996,470					$	8,036,138					$	7,896,295					$	8,336,150					$	7,896,295
Less: Net unrealized losses on HTM securities, net of tax			(4,238)						(3,803)						(4,292)						(2,852)						(3,949)						(4,238)						(3,949)
Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP)			$	8,331,912					$	8,112,366					$	7,992,178					$	8,033,286					$	7,892,346					$	8,331,912					$	7,892,346
Tangible stockholders' equity to tangible assets (non-GAAP)			11.94		%				11.93		%				11.76		%				11.59		%				11.32		%				11.94		%				11.32		%
Less: Net unrealized losses on HTM securities, net of tax			(0.04)		%				(0.04)		%				(0.05)		%				(0.03)		%				(0.05)		%				(0.04)		%				(0.05)		%
Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP)			11.90		%				11.89		%				11.71		%				11.56		%				11.27		%				11.90		%				11.27		%

16

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			As of and for the three months ended																														As of and for the six months ended
($ in thousands, except share and per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						June 30, 2025						June 30, 2024
Tangible book value per share:
Total stockholders' equity (GAAP)			$	1,095,402					$	1,068,295					$	1,041,366					$	1,034,085					$	996,599					$	1,095,402					$	996,599
Tangible stockholders' equity (non-GAAP)			$	995,691					$	968,006					$	940,449					$	931,736					$	893,599					$	995,691					$	893,599
Total shares outstanding			27,834,525						27,753,918						27,709,679						27,665,918						27,443,246						27,834,525						27,443,246
Book value per share (GAAP)			$	39.35					$	38.49					$	37.58					$	37.38					$	36.31					$	39.35					$	36.31
Tangible book value per share (non-GAAP)			$	35.77					$	34.88					$	33.94					$	33.68					$	32.56					$	35.77					$	32.56
Adjusted net income:
Net income (GAAP)			$	26,386					$	23,569					$	16,350					$	22,422					$	24,560					$	49,955					$	36,856
Add: Non-recurring adjustments:
Terminated merger related expenses, net of tax			—						—						5,799						1,233						621						—						2,917
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						621						—						2,917
Adjusted net income (non-GAAP)			$	26,386					$	23,569					$	24,316					$	23,655					$	25,181					$	49,955					$	39,773
Adjusted diluted earnings per share:
Diluted earnings per share (GAAP)			$	0.93					$	0.83					$	0.58					$	0.79					$	0.88					$	1.77					$	1.32
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax			—						—						0.21						0.05						0.02						—						0.11
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)			$	0.93					$	0.83					$	0.86					$	0.84					$	0.90					$	1.77					$	1.43
Adjusted return on average total assets:
Return on average total assets (ROAA) (GAAP)			1.28		%				1.20		%				0.81		%				1.12		%				1.27		%				1.24		%				0.96		%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax			—		%				—		%				0.28		%				0.06		%				0.03		%				—		%				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)			1.28		%				1.20		%				1.20		%				1.18		%				1.30		%				1.24		%				1.04		%

17

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			As of and for the three months ended																														As of and for the six months ended
($ in thousands, except share and per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						June 30, 2025						June 30, 2024
Adjusted return on average stockholders’ equity:
Return on average stockholders' equity (ROACE) (GAAP)			9.74		%				9.03		%				6.22		%				8.74		%				10.08		%				9.39		%				7.66		%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax			—		%				—		%				2.19		%				0.48		%				0.26		%				—		%				0.61		%
Write-off of Guardian Mortgage tradename, net of tax			—		%				—		%				0.24		%				—		%				—		%				—		%				—		%
Disposal of ATMs, net of tax			—		%				—		%				0.59		%				—		%				—		%				—		%				—		%
Adjusted ROACE (non-GAAP)			9.74		%				9.03		%				9.24		%				9.22		%				10.34		%				9.39		%				8.27		%
Return on average tangible stockholders’ equity
Return on average stockholders’ equity (ROACE) (GAAP)			9.74		%				9.03		%				6.22		%				8.74		%				10.08		%				9.39		%				7.66		%
Add: Impact from goodwill and other intangible assets
Goodwill			0.98		%				0.94		%				0.67		%				0.98		%				1.19		%				0.97		%				0.92		%
Other intangible assets			0.19		%				0.21		%				0.47		%				0.22		%				0.24		%				0.19		%				0.27		%
Return on average tangible stockholders’ equity (ROATCE) (non-GAAP)			10.91		%				10.18		%				7.36		%				9.94		%				11.51		%				10.55		%				8.85		%
Adjusted return on average tangible stockholders’ equity:
Return on average tangible stockholders' equity (ROATCE) (non-GAAP)			10.91		%				10.18		%				7.36		%				9.94		%				11.51		%				10.55		%				8.85		%
Add: Impact of non-recurring adjustments
Terminated merger related expenses, net of tax			—		%				—		%				2.45		%				0.54		%				0.28		%				—		%				0.68		%
Write-off of Guardian Mortgage tradename, net of tax			—		%				—		%				0.26		%				—		%				—		%				—		%				—		%
Disposal of ATMs, net of tax			—		%				—		%				0.65		%				—		%				—		%				—		%				—		%
Adjusted ROATCE (non-GAAP)			10.91		%				10.18		%				10.72		%				10.48		%				11.79		%				10.55		%				9.53		%

18

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			As of and for the three months ended																														As of and for the six months ended
($ in thousands, except share and per share amounts)			June 30, 2025						March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						June 30, 2025						June 30, 2024
Adjusted total noninterest expense:
Total noninterest expense (GAAP)			$	68,110					$	62,722					$	73,673					$	64,664					$	63,875					$	130,832					$	125,703
Less: Non-recurring adjustments:
Terminated merger related expenses			—						—						(8,010)						(1,633)						(1,046)						—						(3,535)
Write-off of Guardian Mortgage trade name			—						—						(828)						—						—						—						—
Disposal of ATMs			—						—						(2,042)						—						—						—						—
Total adjustments			—						—						(10,880)						(1,633)						(1,046)						—						(3,535)
Adjusted total noninterest expense (non-GAAP)			$	68,110					$	62,722					$	62,793					$	63,031					$	62,829					$	130,832					$	122,168
Adjusted efficiency ratio:
Efficiency ratio (GAAP)			64.52		%				65.19		%				74.66		%				65.83		%				66.42		%				64.84		%				66.23		%
Less: Impact of non-recurring adjustments
Terminated merger related expenses			—		%				—		%				(8.12)		%				(1.67)		%				(1.09)		%				—		%				(1.86)		%
Write-off of Guardian Mortgage tradename			—		%				—		%				(0.84)		%				—		%				—		%				—		%				—		%
Disposal of ATMs			—		%				—		%				(2.07)		%				—		%				—		%				—		%				—		%
Adjusted efficiency ratio (non-GAAP)			64.52		%				65.19		%				63.63		%				64.16		%				65.33		%				64.84		%				64.37		%
Fully tax equivalent (“FTE”) net interest income and net interest margin:
Net interest income (GAAP)			$	78,499					$	74,478					$	77,047					$	76,158					$	72,899					$	152,977					$	143,705
Gross income effect of tax exempt income			1,204						1,192						1,161						1,132						1,156						2,396						2,475
FTE net interest income (non-GAAP)			$	79,703					$	75,670					$	78,208					$	77,290					$	74,055					$	155,373					$	146,180
Average earning assets			$	7,727,556					$	7,423,376					$	7,492,248					$	7,430,357					$	7,256,763					$	7,576,307					$	7,178,543
Net interest margin			4.07		%				4.07		%				4.09		%				4.08		%				4.04		%				4.07		%				4.03		%
Net interest margin on FTE basis (non-GAAP)			4.13		%				4.13		%				4.15		%				4.13		%				4.10		%				4.13		%				4.09		%

19

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Contacts:

Investor Contact:

Ed Jacques

Director of Investor Relations & Business Development, FirstSun

[email protected]

Media Contact:

Jeanne Lipson

Director of Marketing, Sunflower Bank

[email protected]

20

2Q2025 Earnings Presentation July 28, 2025 FirstSun Capital Bancorp NASDAQ: FSUN

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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.

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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 1,168 Employees 71 Licensed Branches4 43 States with Mortgage Capabilities Headquarters: FirstSun: Denver, CO Sunflower Bank: Dallas, TX Key Facts and Statistics4 $1.0B $34.75 0.97x $35.77 10.04x 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 Jun 30, 2025. 5As of Jan 15, 2025. 6Represents a non-GAAP financial measure. See Non-GAAP Reconciliation $8.4B Total Assets $7.1B Total Deposits $6.5B Total Loans Franchise Footprint4

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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

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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

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FirstSun Capital Bancorp | 6 Efficiency Ratio 64.84% Year-to-Date 2025 Results 2024 Highlights • Reported Net Income of $50.0 million, or diluted EPS of $1.77, on Revenue of $201.8 million • Strong adjusted PTPP ROAA of 1.76%, ROAA of 1.24%, ROTCE of 10.31% • Maintained a healthy full year NIM (FTE) of 4.13% • Increased tangible book value per share $3.21 or 9.86% • Maintained strong capital ratios with CET1 at 13.78% and TCE/ TA at 11.94% • 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 $50.0 million Diluted EPS $1.77 PTPP ROAA1 1.76% Net Charge-Offs to Average Loans 0.44% ROAA 1.24% Service Fees to Revenue2 24.2% ROATCE1 10.55% CET1 13.78% 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 $50.0 million; Diluted EPS of $1.77 • ROAA of 1.24%; PTPP ROAA of 1.76%1; ROATCE of 10.55%1 • Total revenue of $201.8 million, a 6.3% increase from Q2 2024 ◦ Adjusted operating leverage growth of $3.3 million from YTD Q2 2024 • Average deposit growth of 6.0% from YTD Q2 2024; EOP growth of 12.9%, annualized from December 31, 2024 • Average loan growth3 of 2.4% from YTD Q2 2024; EOP growth3 of 4.1%, annualized from December 31, 2024 • Strong YTD NIM of 4.07% • Increased tangible book value per share of $1.83 or 5.4%

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FirstSun Capital Bancorp | 7 Second Quarter 2025 Results 2025 Q2 HighlightsNet Income $26.4 million Diluted EPS $0.93 PTPP ROAA1 1.82% Service Fees to Revenue2 25.6% ROAA 1.28% Net Interest Margin 4.07% ROATCE1 10.91% Net Charge-Offs to Average Loans 0.83% Annualized Loan Growth3 1.4% Annualized Deposit Growth 13.2% • Net Income of $26.4 million; Diluted EPS of $0.93 • ROAA of 1.28%; PTPP ROAA1 of 1.82%; ROATCE1 of 10.91% • Total revenue2 of $105.6 million, a 9.7% increase over Q1 • Average deposit growth of 18.3%, annualized • Average loan growth3 of 10.7%, annualized • Continued strong quarterly NIM of 4.07% • Efficiency ratio: 64.52% • Loan to deposit ratio: 91.6% 1Represents a non-GAAP financial measure. See Non-GAAP Reconciliation 2Total revenue is net interest income plus noninterest income 3Excludes loans HFS

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FirstSun Capital Bancorp | 8 Loan Portfolio Trends Portfolio Composition 40.8% 10.2%10.8% 8.0% 18.9% 8.1% 3.2% 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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $200 $300 $400 $500 Average Total Loans and Yield $6,384,709 $6,460,484 $6,481,701 $6,420,710 $6,620,493 6.63% 6.68% 6.51% 6.36% 6.43% Average Loans HFI + HFS Loan Yield Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 1Regulatory CRE consists of commercial and residential construction, multifamily and non-owner occupied CRE ($ in thousands) • Balances up 3% from Q2 2024 • Balances up 1%, annualized from Q1 • Decrease of 3% in line utilization from Q1 • Low overall Regulatory CRE1 to capital level of 115% • Office CRE composition 4% of total loans: NOO of $169.0 million; OO of $61.6 million ◦ Not central business district properties • 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

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FirstSun Capital Bancorp | 9 Deposit Trends Average Deposit Composition $6,945,433 $6,643,021 $6,627,469 $6,578,801 $6,468,574 Noninterest-Bearing Demand Deposit Accounts Interest-Bearing Demand Accounts Savings Accounts and Money Market Accounts NOW Accounts Certificate of Deposit Accounts Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Cost of Deposits & Cost of Funds Int-bearing deposits Total Deposits Funds Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 2.00% 2.50% 3.00% Loan to Deposit Ratio 95.73% 96.90% 95.57% 94.32% 91.65% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 ($ in thousands) • Balances up 7% from Q2 2024 • Balances up 13%, annualized from Q1 (average balances up 18%, annualized from Q1) • Continued mix shift ◦ Sav/MMDA increased to 44.6% from 43.3% ◦ CD’s decreased to 20.1% from 22.9% • 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 Quarter Highlights Outlook 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% 8.1% 37.8% 29.8% 24.0% 10.5% 44.6% 20.1% Beta - Current Cycle = 36%1 1Change in cost of interest-bearing deposits from Q3 2024 to Q2 2025, divided by cycle to date rate cut of 1%.

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FirstSun Capital Bancorp | 10 NIM Bridge 4.07% 0.01% 0.03% (0.04) 4.07% Q1 2025 Loans All Other Assets Cost of Funds Q2 2025 NIM, Yield & Cost 6.63% 6.68% 6.51% 6.36% 6.43% 4.04% 4.08% 4.09% 4.07% 4.07% 2.46% 2.46% 2.22% 2.11% 2.15% Loans Yield Net Interest Margin Cost of Funds Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Net Interest Income $72,899 $76,158 $77,047 $74,478 $78,499 Net Interest Income Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Loan Repricing Mix 35% 50% 12% 3% Fixed SOFR Prime Other Net Interest Income & Net Interest Margin Trends ($ in thousands) • NII growth of 7.7% over Q2 2024 • Stability of NIM - trailing 11 qtrs above 4.00% ◦ Balance sheet composition Quarter Highlights Outlook • Two Fed rate cuts before end of 2025 • Stable NIM • Near term ~ 40% falling rate interest bearing deposit beta YoY Growth 7.7% 1Components of the NIM bridge are calculated based upon their proportion to total earning assets. 1

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FirstSun Capital Bancorp | 11 Noninterest Income Trends Service Fees Composition $27,073 $21,729 $21,635 $22,075 $23,274 $13,274 $9,055 $9,631 $8,838 $11,043 $4,333 $4,194 $3,982 $3,748 $3,631 $2,728 $2,586 $2,706 $2,738 $2,950 $2,016 $2,027 $2,219 $2,560 $2,372 $1,473 $1,421 $1,436 $1,395 $1,493 $3,249 $2,446 $1,661 $2,796 $1,785 Mortgage Banking Service Fee Revenue Treasury Management Service Fees Credit and Debit Card Service Fees Deposit Service Fees Wealth Management Service Fees Other Noninterest Income Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 ($ in thousands) Quarter Highlights Outlook • Mid 20’s service fees to revenue • Mortgage banking, treasury management and loan syndication arrangement service driving growth • High single to low double digit growth rate for 2025 1Total revenue is net interest income plus noninterest income • Diversified revenue base ~ 26% service fees to revenue1 • Mortgage banking revenue to revenue ~ 13% ◦ Mortgage volume sold of $358.7 million, up 42.8% over Q1 ◦ Margin of 2.88% compared to 2.93% in Q1 • Treasury management revenue to revenue ~ 4% • Loan syndication and swap service fees revenue of ~ $0.9 million in Q2Mortgage Revenue Composition 14.7% (1.7)% 13.4% (0.1)% 15.3% 37.6% 48.9% 45.6% 49.8% 35.0% 47.7% 52.8% 41.0% 50.4% 49.7% 11.5% 9.0% 9.8% 9.4% 12.6% MSR, net Mortgage servicing revenue Origination revenue Percent of total revenue Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 —% 50.0% 100.0% Mortgage Revenue Composition $11,043 $8,838 $9,631 $9,055 $13,274 $1,623 $(152) $1,288 $(13) $2,033 $4,155 $4,321 $4,393 $4,505 $4,640 $5,265 $4,669 $3,950 $4,563 $6,601 11.5% 9.0% 9.8% 9.4% 12.6% MSR, net Mortgage servicing revenue Origination revenue Percent of total revenue Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025

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FirstSun Capital Bancorp | 12 Noninterest Expense Trends Noninterest Expense Composition $68,110 $62,722 $73,673 $64,664 $63,875 $43,921 $39,561 $38,498 $39,306 $39,828 $9,541 $9,536 $9,865 $9,121 $8,701 $14,070 $12,997 $15,869 $13,953 $13,648 $8,010 Salaries and Benefits Occupancy and Equipment Amortization of Intangible Assets Other Noninterest Expenses Terminated Merger Related Expenses Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Efficiency Ratio 66.42% 65.83% 74.66% 65.19% 64.52% 65.33% 64.16% 63.63% Adjusted Efficiency Ratio Efficiency Ratio Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 ($ in thousands) 1Represents a non-GAAP financial measure. See Non-GAAP Reconciliation • Noninterest expenses increased compared to Q1 primarily in Salaries and Benefits ◦ Higher levels of variable compensation and an increase in the fair value of investments related to our deferred compensation plan • Other noninterest expenses increased primarily due to legal & professional fees • Continued investment in building out franchise organically (sales force & infrastructure) ◦ Investing in growth markets • Mid 60’s efficiency ratio Quarter Highlights Outlook 1

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FirstSun Capital Bancorp | 13 Asset Quality Trends Net Charge-Offs (Recoveries) $2,009 $1,401 $631 $13,547 $(462) Commercial and Industrial Public finance Commercial Real Estate, Residential Real Estate, Consumer and Other Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Allowance for Credit Losses $78,960 $83,159 $88,221 $91,790 $82,993 1.25% 1.29% 1.38% 1.42% 1.28% ACL ACL to Total Loans Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Nonperforming Loans $62,558 $65,824 $69,050 $78,590 $54,841 0.99% 1.02% 1.08% 1.21% 0.84% Nonperforming Loans Nonperforming Loans to Total Loans Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 ($ in thousands) ($ in thousands) ($ in thousands) • NPL’s trended down 30% • Classified loans trended down 8% • Net charge-offs to average loans of 83 bps in Q2, 44 bps YTD • Loan loss provisioning in Q2: ◦ Deterioration in a couple of C&I customer relationships ◦ Impacts from net portfolio downgrades ◦ Partially offset by impacts from net changes in loan portfolio balances Quarter Highlights Outlook • Net charge-off ratio in high 30’s to Low 40’s in bps • ACL in mid 120’s in bps

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FirstSun Capital Bancorp | 14 Asset Quality Trends (cont’d) Provision for Credit Losses & Net Charge-Offs $3,000 $18,050 $18,247 $27,550 $8,300 $3,219 $(320) $7,810 $20,377 $14,178 Provision for credit losses Net charge-offs 2021 2022 2023 2024 2025 YTD Nonperforming Loans $28,388 $29,067 $63,143 $69,050 $54,841 0.70% 0.49% 1.01% 1.08% 0.84% Nonperforming Loans Nonperforming Loans to Total Loans 2021 2022 2023 2024 June 30, 2025 ($ in thousands) ($ in thousands) • NPL’s trended down 30% • Classified loans trended down 8% • Net charge-offs to average loans of 83 bps in Q2 • Loan loss provisioning impacts in Q2: ◦ Deterioration in certain collateral dependent loans, ◦ Net portfolio downgrades, ◦ Offset by payoffs net originations Quarter HighlightsOutlook • Net charge-off ratio in high 30’s to low 40’s in bps; updated 2025 outlook includes: ◦ change in originally estimated workout period for a C&I loan (now a 2025 event) ◦ market pricing deterioration resulting in additional valuation impacts upon exits • ACL in mid 120’s in bps ACL & NCO %'s 1.18% 1.12% 1.28% 1.38% 1.28% 0.09% (0.01)% 0.13% 0.32% 0.44% 0.19% 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 $8,300 $3,219 $(320) $7,810 $20,377 $14,178 Provision for credit losses Net charge-offs 2021 2022 2023 2024 2025 YTD

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FirstSun Capital Bancorp | 15 Capital and Liquidity Total Capital Ratio 14.95% 15.25% 15.42% 15.52% 15.94% Total Capital Ratio Capital Operating Threshold Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Common Equity Tier 1 Capital Ratio 12.80% 13.06% 13.18% 13.26% 13.78% CET1 Capital Operating Threshold Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Liquidity Ratios TCE / TA, + Net Unrealized Losses on HTM Securities Wholesale Deposits and Borrowings to Total Liabilities AOCI + HTM unrealized loss / Total Equity Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 3.00% 6.00% 9.00% 12.00% 15.00% ($ in thousands) • Wholesale funding reliance of 6% • Cash to total assets of 9% • AOCI & HTM unrealized loss to total equity of 4% • CET 1 of 13.78% 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 $3.5B Immediate Borrowing Availability (1)Represents a non-GAAP financial measure. See Non-GAAP Reconciliation 1

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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

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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 High 30’s to 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.

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FirstSun Capital Bancorp | 18 Appendix

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FirstSun Capital Bancorp | 19 C&I Portfolio Consumer Deposits - $3.6B as of June 30, 2025 Business Deposits - $3.1B as of June 30, 2025 Customer Base 132,963 Consumer Accounts Granular Deposit Base $27,000 Avg. Account Balance 71 Retail Branches Customer Base 13,056 Consumer Accounts Granular Deposit Base $234,000 Avg. Account Balance Example Total Return Performance Uninsured Consumer, 18.7% Uninsured Business, 81.3% Uninsured Consumer Uninsured Business C&I Loans by Industry1 ($ in millions) Finance and Insurance $ 398.0 Manufacturing 319.8 Healthcare 311.6 Information (Technology, Media and Telecommunications) 300.7 Real Estate and Rental and Leasing 235.7 Construction 201.2 Other Services2 196.9 Professional, Scientific, and Technical Services 193.9 Wholesale Trade 145.0 Transportation and Warehousing 98.0 Retail Trade 70.3 Arts, Entertainment, and Recreation 44.5 Utilities 31.1 Other 104.9 15% 12% 12% 11% 9% 8% 7% 7% 5% 4% 3% 2% 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.

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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 $263.4M $324.7M $285.2M $278.8M $263.5M $88.3M $134.5M $106.8M $93.7M $94.0M $112.7M $124.4M $110.8M $106.6M $114.9M $55.1M $53.3M $66.9M $50.9M $36.0M $7.4M $12.5M $27.6M $18.7M 4.2% 5.0% 4.5% 4.3% 4.1% Special Mention Substandard - Accruing Substandard - Nonaccrual Doubtful Criticized loans to total loans Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Manufacturing, $35.4 Real Estate and Rental and Leasing, $44.8 Construction, $49.1Finance and Insurance, $9.7 Other Services, $22.8 Healthcare, $36.2 Transportation and Warehousing, $21.4 Residential Mortgage, $19.2 Professional, Scientific, and Technical Services, $7.8 Other, $10.7Manufacturing, $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 Q2 2025 Q4 2024 Classified Loans by Industry1 Criticized Loans by Industry $49.1M $44.8M $36.2M $35.4M $22.8M $21.4M $19.2M $9.7M $7.8M $3.6M $2.7M $10.7M $53.4M $38.8M $50.8M $27.0M $23.0M $10.4M $20.6M $0.1M $9.5M $27.1M $12.1M $14.2M Q2 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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 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

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FirstSun Capital Bancorp | 21 ~ 63%1 of Total Deposits are FDIC-Insured Granular Deposit Base Customer Base 132,900 Consumer Accounts Granular Deposit Base $27,000 Avg. Account Balance Customer Base 13,000 Commercial Business Accounts Granular Deposit Base $234,000 Avg. Account Balance $7.1 Billion Total Deposits as of June 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

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FirstSun Capital Bancorp | 22 Financial Summary As of and for the three months ended As of and for the six months ended ($ in thousands, except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Net interest income $ 78,499 $ 74,478 $ 77,047 $ 76,158 $ 72,899 $ 152,977 $ 143,705 Provision for credit losses 4,500 3,800 4,850 5,000 1,200 8,300 17,700 Noninterest income 27,073 21,729 21,635 22,075 23,274 48,802 46,082 Noninterest expense 68,110 62,722 73,673 64,664 63,875 130,832 125,703 Income before income taxes 32,962 29,685 20,159 28,569 31,098 62,647 46,384 Provision for income taxes 6,576 6,116 3,809 6,147 6,538 12,692 9,528 Net income 26,386 23,569 16,350 22,422 24,560 49,955 36,856 Adjusted net income1 26,386 23,569 24,316 23,655 25,181 49,955 39,773 Weighted average common shares outstanding, diluted 28,232,319 28,293,912 28,290,474 28,212,809 28,031,956 28,263,943 27,825,189 Diluted earnings per share $ 0.93 $ 0.83 $ 0.58 $ 0.79 $ 0.88 $ 1.77 $ 1.32 Adjusted diluted earnings per share1 $ 0.93 $ 0.83 $ 0.86 $ 0.84 $ 0.90 $ 1.77 $ 1.43 Return on average total assets 1.28 % 1.20 % 0.81 % 1.12 % 1.27 % 1.24 % 0.96 % Adjusted return on average total assets1 1.28 % 1.20 % 1.20 % 1.18 % 1.30 % 1.24 % 1.04 % Pre-tax pre provision return on average assets1 1.82 % 1.70 % 1.24 % 1.68 % 1.66 % 1.76 % 1.67 % Adjusted pre-tax pre provision return on average assets1 1.82 % 1.70 % 1.78 % 1.76 % 1.72 % 1.76 % 1.76 % Return on average tangible stockholders' equity1 10.91 % 10.18 % 7.36 % 9.94 % 11.51 % 10.55 % 8.85 % Adjusted return on average tangible stockholders' equity1 10.91 % 10.18 % 10.72 % 10.48 % 11.79 % 10.55 % 9.53 % Net interest margin 4.07 % 4.07 % 4.09 % 4.08 % 4.04 % 4.07 % 4.03 % Efficiency ratio 64.52 % 65.19 % 74.66 % 65.83 % 66.42 % 64.84 % 66.23 % Adjusted efficiency ratio1 64.52 % 65.19 % 63.63 % 64.16 % 65.33 % 64.84 % 64.37 % Noninterest income to total revenue2 25.6 % 22.6 % 21.9 % 22.5 % 24.2 % 24.2 % 24.3 % Total assets $ 8,435,861 $ 8,216,458 $ 8,097,387 $ 8,138,487 $ 7,999,295 $ 8,435,861 $ 7,999,295 Total loans held-for-sale 90,781 65,603 61,825 72,247 66,571 90,781 66,571 Total loans held-for-investment 6,507,066 6,484,008 6,376,357 6,443,756 6,337,162 6,507,066 6,337,162 Total deposits 7,100,164 6,874,239 6,672,260 6,649,880 6,619,525 7,100,164 6,619,525 Total stockholders' equity 1,095,402 1,068,295 1,041,366 1,034,085 996,599 1,095,402 996,599 Loan to deposit ratio 91.6 % 94.3 % 95.6 % 96.9 % 95.7 % 91.6 % 95.7 % Period end common shares outstanding 27,834,525 27,753,918 27,709,679 27,665,918 27,443,246 27,834,525 27,443,246 Book value per share $ 39.35 $ 38.49 $ 37.58 $ 37.38 $ 36.31 $ 39.35 $ 36.31 Tangible book value per share1 $ 35.77 $ 34.88 $ 33.94 $ 33.68 $ 32.56 $ 35.77 $ 32.56 1 Represents a non-GAAP financial measure. See non-GAAP reconciliation 2 Total revenue is net interest income plus noninterest income.

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FirstSun Capital Bancorp | 23 Non-GAAP Reconciliation As of and for the three months ended As of and for the six months ended ($ in thousands, except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Tangible stockholders’ equity to tangible assets: Total stockholders' equity (GAAP) $ 1,095,402 $ 1,068,295 $ 1,041,366 $ 1,034,085 $ 996,599 $ 1,095,402 $ 996,599 Less: Goodwill and other intangible assets Goodwill (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) Other intangible assets (6,228) (6,806) (7,434) (8,866) (9,517) (6,228) (9,517) Tangible stockholders' equity (non-GAAP) $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 893,599 $ 995,691 $ 893,599 Total assets (GAAP) $ 8,435,861 $ 8,216,458 $ 8,097,387 $ 8,138,487 $ 7,999,295 $ 8,435,861 $ 7,999,295 Less: Goodwill and other intangible assets Goodwill (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) (93,483) Other intangible assets (6,228) (6,806) (7,434) (8,866) (9,517) (6,228) (9,517) Tangible assets (non-GAAP) $ 8,336,150 $ 8,116,169 $ 7,996,470 $ 8,036,138 $ 7,896,295 $ 8,336,150 $ 7,896,295 Total stockholders' equity to total assets (GAAP) 12.99 % 13.00 % 12.86 % 12.71 % 12.46 % 12.99 % 12.46 % Less: Impact of goodwill and other intangible assets (1.05) % (1.07) % (1.10) % (1.12) % (1.14) % (1.05) % (1.14) % Tangible stockholders' equity to tangible assets (non- GAAP) 11.94 % 11.93 % 11.76 % 11.59 % 11.32 % 11.94 % 11.32 % Tangible stockholders’ equity to tangible assets, reflecting net unrealized losses on HTM securities, net of tax: Tangible stockholders' equity (non-GAAP) $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 893,599 $ 995,691 $ 893,599 Less: Net unrealized losses on HTM securities, net of tax (4,238) (3,803) (4,292) (2,852) (3,949) (4,238) (3,949) Tangible stockholders’ equity less net unrealized losses on HTM securities, net of tax (non-GAAP) $ 991,453 $ 964,203 $ 936,157 $ 928,884 $ 889,650 $ 991,453 $ 889,650 Tangible assets (non-GAAP) $ 8,336,150 $ 8,116,169 $ 7,996,470 $ 8,036,138 $ 7,896,295 $ 8,336,150 $ 7,896,295 Less: Net unrealized losses on HTM securities, net of tax (4,238) (3,803) (4,292) (2,852) (3,949) (4,238) (3,949) Tangible assets less net unrealized losses on HTM securities, net of tax (non-GAAP) $ 8,331,912 $ 8,112,366 $ 7,992,178 $ 8,033,286 $ 7,892,346 $ 8,331,912 $ 7,892,346 Tangible stockholders’ equity to tangible assets (non-GAAP) 11.94 % 11.93 % 11.76 % 11.59 % 11.32 % 11.94 % 11.32 % Less: Impact of net unrealized losses on HTM securities, net of tax (0.04) % (0.04) % (0.05) % (0.03) % (0.05) % (0.04) % (0.05) % Tangible stockholders’ equity to tangible assets reflecting net unrealized losses on HTM securities, net of tax (non-GAAP) 11.90 % 11.89 % 11.71 % 11.56 % 11.27 % 11.90 % 11.27 %

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FirstSun Capital Bancorp | 24 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the six months ended ($ in thousands, except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Tangible book value per share: Total stockholders' equity (GAAP) $ 1,095,402 $ 1,068,295 $ 1,041,366 $ 1,034,085 $ 996,599 $ 1,095,402 $ 996,599 Tangible stockholders' equity (non-GAAP) $ 995,691 $ 968,006 $ 940,449 $ 931,736 $ 893,599 $ 995,691 $ 893,599 Total shares outstanding 27,834,525 27,753,918 27,709,679 27,665,918 27,443,246 27,834,525 27,443,246 Book value per share (GAAP) $ 39.35 $ 38.49 $ 37.58 $ 37.38 $ 36.31 $ 39.35 $ 36.31 Tangible book value per share (non-GAAP) $ 35.77 $ 34.88 $ 33.94 $ 33.68 $ 32.56 $ 35.77 $ 32.56 Adjusted net income: Net income (GAAP) $ 26,386 $ 23,569 $ 16,350 $ 22,422 $ 24,560 $ 49,955 $ 36,856 Add: Non-recurring adjustments: Terminated merger related expenses, net of tax — — 5,799 1,233 621 — 2,917 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 1,233 621 — 2,917 Adjusted net income (non-GAAP) $ 26,386 $ 23,569 $ 24,316 $ 23,655 $ 25,181 $ 49,955 $ 39,773 Adjusted diluted earnings per share: Diluted earnings per share (GAAP) $ 0.93 $ 0.83 $ 0.58 $ 0.79 $ 0.88 $ 1.77 $ 1.32 Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — — 0.21 0.05 0.02 — 0.11 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) $ 0.93 $ 0.83 $ 0.86 $ 0.84 $ 0.90 $ 0.93 $ 0.93 Adjusted return on average total assets: Return on average total assets (ROAA) (GAAP) 1.28 % 1.20 % 0.81 % 1.12 % 1.27 % 1.24 % 0.96 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % 0.28 % 0.06 % 0.03 % — % 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) 1.28 % 1.20 % 1.20 % 1.18 % 1.30 % 1.24 % 1.04 %

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FirstSun Capital Bancorp | 25 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the six months ended ($ in thousands, except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Adjusted pre-tax pre provision return on average assets: Net income (GAAP) $ 26,386 $ 23,569 $ 16,350 $ 22,422 $ 24,560 $ 49,955 $ 36,856 Add: Income taxes and provision for credit losses Income taxes 6,576 6,116 3,809 6,147 6,538 12,692 9,528 Provision for credit losses 4,500 3,800 4,850 5,000 1,200 8,300 17,700 PTPP net income $ 37,462 $ 33,485 $ 25,009 $ 33,569 $ 32,298 $ 70,947 $ 64,084 Add: Non-recurring adjustments Terminated merger related expenses — — 8,010 1,633 1,046 — 3,535 Write-off of Guardian Mortgage tradename — — 828 — — — — Disposal of ATM's — — 2,042 — — — — Adjusted PTPP Net Income (non-GAAP) $ 37,462 $ 33,485 $ 35,889 $ 35,202 $ 33,344 $ 70,947 $ 67,619 Return on average total assets (ROAA) (GAAP) 1.28 % 1.20 % 0.81 % 1.12 % 1.27 % 1.24 % 0.96 % Add: Impact of income taxes and provision for credit losses Income taxes 0.32 % 0.31 % 0.19 % 0.31 % 0.34 % 0.32 % 0.25 % Provision for credit losses 0.22 % 0.19 % 0.24 % 0.25 % 0.06 % 0.21 % 0.46 % PTPP ROAA (non-GAAP) 1.82 % 1.70 % 1.24 % 1.68 % 1.66 % 1.76 % 1.67 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % 0.40 % 0.08 % 0.05 % — % 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) 1.82 % 1.70 % 1.78 % 1.76 % 1.72 % 1.76 % 1.76 % Adjusted return on average stockholders’ equity Return on average stockholders' equity (ROACE) (GAAP) 9.74 % 9.03 % 6.22 % 8.74 % 10.08 % 9.39 % 7.66 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % 2.19 % 0.48 % 0.26 % — % 0.61 % Write-off of Guardian Mortgage tradename, net of tax — % — % 0.24 % — % — % — % — % Disposal of ATMs, net of tax — % — % 0.59 % — % — % — % — % Adjusted ROACE (non-GAAP) 9.74 % 9.03 % 9.24 % 9.22 % 10.34 % 9.39 % 8.27 %

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FirstSun Capital Bancorp | 26 Non-GAAP Reconciliation (cont’d) As of and for the three months ended As of and for the six months ended ($ in thousands, except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30, 2025 June 30, 2024 Return on average tangible stockholders’ equity: Return on average stockholders’ equity (ROACE) (GAAP) 9.74 % 9.03 % 6.22 % 8.74 % 10.08 % 9.39 % 7.66 % Add: Impact from goodwill and other intangible assets Goodwill 0.98 % 0.94 % 0.67 % 0.98 % 1.19 % 0.97 % 0.92 % Other intangible assets 0.19 % 0.21 % 0.47 % 0.22 % 0.24 % 0.19 % 0.27 % Return on average tangible stockholders’ equity (ROATCE) (non-GAAP) 10.91 % 10.18 % 7.36 % 9.94 % 11.51 % 10.55 % 8.85 % Adjusted return on average tangible stockholders’ equity: Return on average tangible stockholders' equity (ROATCE) (non-GAAP) 10.91 % 10.18 % 7.36 % 9.94 % 11.51 % 10.55 % 8.85 % Add: Impact of non-recurring adjustments Terminated merger related expenses, net of tax — % — % 2.45 % 0.54 % 0.28 % — % 0.68 % Write-off of Guardian Mortgage tradename, net of tax — % — % 0.26 % — % — % — % — % Disposal of ATMs, net of tax — % — % 0.65 % — % — % — % — % Adjusted ROATCE (non-GAAP) 10.91 % 10.18 % 10.72 % 10.48 % 11.79 % 10.55 % 9.53 % Adjusted total noninterest expense: Total noninterest expense (GAAP) $ 68,110 $ 62,722 $ 73,673 $ 64,664 $ 63,875 $ 130,832 $ 125,703 Less: Non-recurring adjustments: Terminated merger related expenses — — (8,010) (1,633) (1,046) — (3,535) Write-off of Guardian Mortgage trade name — — (828) — — — — Disposal of ATMs — — (2,042) — — — — Total adjustments — — (10,880) (1,633) (1,046) — (3,535) Adjusted total noninterest expense (non-GAAP) $ 68,110 $ 62,722 $ 62,793 $ 63,031 $ 62,829 $ 130,832 $ 122,168 Adjusted efficiency ratio: Efficiency ratio (GAAP) 64.52 % 65.19 % 74.66 % 65.83 % 66.42 % 64.84 % 66.23 % Less: Impact of non-recurring adjustments Terminated merger related expenses — % — % (8.12) % (1.67) % (1.09) % — % (1.86) % Write-off of Guardian Mortgage tradename — % — % (0.84) % — % — % — % — % Disposal of ATMs — % — % (2.07) % — % — % — % — % Adjusted efficiency ratio (non-GAAP) 64.52 % 65.19 % 63.63 % 64.16 % 65.33 % 64.84 % 64.37 %

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