Fourth Quarter Highlights:
- Net income of $8.8 million, $0.47 per diluted share
- Return on average assets of 0.62%
- Return on average equity of 6.69%
- Loan growth of 24.5% annualized (excluding PPP loan balances, 30.3% annualized)
- Average deposit balance growth of 9.0% annualized
Denver – FirstSun Capital Bancorp (“FirstSun”) reported net income of $8.8 million for the fourth quarter of 2021, compared to net income of $8.7 million in the prior quarter and $11.3 million in the fourth quarter of 2020. Earnings per diluted share was $0.47 for the fourth quarter 2021, compared to $0.46 in the prior quarter and $0.60 in the fourth quarter of 2020. Net income for the full year of 2021 was $43.2 million, or $2.30 per diluted share, compared to $47.6 million, or $2.58 per diluted share, for the full year of 2020.
Mollie Carter, FirstSun’s Chairman and Chief Executive Officer, commented, “We are very pleased with the strong results we delivered in our fourth quarter and the quality of our continued growth year over year. While we await regulatory approval of our merger with Pioneer Bancshares, Austin, Texas, our teams continued to deliver on our primary organic growth strategy. The targeted investments we have made in our relationship banking model, especially in our Southwest markets, have enabled us to continue our trajectory of growth in the loan, deposit and non-interest income categories that we believe are key to delivering what we refer to as sustainable growth, and we have achieved this while maintaining our historically strong asset quality. We are grateful to our teams who maintained their commitment to building lasting customer relationships again in 2021 after working so hard to deliver an exceptional year in 2020.”
The full earnings release can be viewed here.