DivestmentJun 25, 2026, 04:02 PM
FirstSun completes $336M municipal loan sale
AI Summary
FirstSun Capital Bancorp announced the completion of the sale of approximately $336 million in performing municipal loans. These loans were acquired from First Foundation Bank and their sale was a planned part of FirstSun's acquisition of First Foundation Inc., which closed on April 1, 2026. This transaction marks the completion of FirstSun's balance sheet repositioning strategy, with proceeds intended to pay down high-cost deposits.
Key Highlights
- Completed sale of approximately $336 million of performing municipal loans.
- Loans were acquired from First Foundation Bank.
- Sale was part of the balance sheet repositioning strategy following the First Foundation Inc. acquisition.
- First Foundation Inc. acquisition closed on April 1, 2026.
- Proceeds from the sale will be used to pay down high-cost brokered and non-brokered deposits.
- Overall balance sheet repositioning is expected to align with prior expectations.
Price Impact
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