FirstSun Posts Q2 Results, Launches $150M Buyback After Loan Cleanup
FSUN sits 16% above its 52-week low of $29.95.
Summary
FirstSun Capital Bancorp reported second quarter 2026 results, posting a loss per share of 49 cents and net interest income of $143.1 million, with book value per share at $39.29. The company authorized a $150 million share repurchase program, representing roughly 10% of its current market cap, signaling confidence after completing a major balance sheet restructuring. The Q2 results were impacted by $40.9 million in charge-offs, including a previously warned $34.9 million from two commercial loans, one involving a $22 million fraud-related loss. Adjusted earnings per share missed estimates as the charge-offs weighed on performance. The buyback follows the $890 million loan sale in June and the $336 million municipal loan sale that finalized the post-merger cleanup. Management believes the worst of the credit issues are behind them and the stock is undervalued.
At the time of this announcement, FSUN was trading at $34.81 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $29.95 to $42.34. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.