FSUN Firstsun Capital Q2 -Adj. EPS $0.45 vs est $0.50 -Sales $225.974M vs est $182.853M -Neal Arnold, FirstSun’s Chief Executive Officer and
FSUN Firstsun Capital Q2 -Adj. EPS $0.45 vs est $0.50 -Sales $225.974M vs est $182.853M -Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, "The completion of the First Foundation acquisition in the second quarter marked a transformational milestone for our company. We have accelerated our growth strategy and expanded our footprint across some of the most dynamic markets in the Country. In the second quarter, we also successfully completed the repositioning strategy and reduced the risk profile of the balance sheet we acquired. We believe the franchise is stronger, with less concentration risk, less liquidity risk, less interest rate sensitivity, and a stronger capital profile as a result of the repositioning actions. While we experienced a decline in our financial results this quarter due to two large loan charge-offs and the merger and integration expenses we incurred in conjunction with completing the First Foundation acquisition, we believe our core business remains strong and we believe we are well positioned for future success."
FSUN Firstsun Capital Q2 -Adj.
EPS $0.45 vs est $0.50 -Sales $225.974M vs est $182.853M -Neal Arnold, FirstSun’s Chief Executive Officer and President, commented, "The completion of the First Foundation acquisition in the second quarter marked a transformational milestone for our company.
We have accelerated our growth strategy and expanded our footprint across some of the most dynamic markets in the Country.
In the second quarter, we also successfully completed the repositioning strategy and reduced the risk profile of the balance sheet we acquired.
We believe the franchise is stronger, with less concentration risk, less liquidity risk, less interest rate sensitivity, and a stronger capital profile as a result of the repositioning actions.
While we experienced a decline in our financial results this quarter due to two large loan charge-offs and the merger and integration expenses we incurred in conjunction with completing the First Foundation acquisition, we believe our core business remains strong and we believe we are well positioned for future success."