SaleJun 5, 2026, 04:57 PM
FirstSun Capital Bancorp Sells $890M Multifamily Loans
AI Summary
FirstSun Capital Bancorp announced that its subsidiary, Sunflower Bank, closed on the sale of approximately $890 million of performing multifamily commercial real estate loans to Brookfield Asset Management affiliates. This sale is a key part of FirstSun's balance sheet repositioning strategy following its acquisition of First Foundation Inc., with proceeds intended to pay down high-cost deposits. The company also held its annual meeting, where stockholders elected seven directors and ratified the appointment of Crowe LLP as its independent auditor.
Key Highlights
- FirstSun's Sunflower Bank sold approximately $890 million of performing multifamily commercial real estate loans.
- The loans were acquired from First Foundation Bank and sold to entities affiliated with Brookfield Asset Management.
- Proceeds from the loan sale will be used to pay down high-cost brokered and non-brokered deposits.
- FirstSun expects to complete the remainder of its balance sheet loan downsizing before the end of Q2 2026.
- Stockholders elected seven directors to serve a one-year term.
- Stockholders ratified the appointment of Crowe LLP as the independent registered public accounting firm for 2026.
- 39,147,792 votes were cast For the ratification of Crowe LLP, with 20,764 Against and 3,544 Abstain.
Price Impact
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