FirstSun Capital Bancorp Expects Charge-Offs to Adversely Impact Q2 Results

MT Newswires Live

Jul 10

FirstSun Capital Bancorp (FSUN) expects its Q2 results to be negatively impacted by charge-offs, primarily due to two commercial lending relationships, and related increases in the provision for credit losses, the company said Thursday in a filing.

The first lending relationship is an asset-based loan to a materials distributor with an outstanding principal balance of about $23.6 million with no previous specific reserve as of March 31, according to the filing.

While the company plans to pursue recovery to mitigate the potential loss, it expects an approximate $22 million charge-off on this loan in Q2, the filing said.

The second lending relationship is a commercial and industrial loan to a technology company with an outstanding principal balance of approximately $16 million. The company anticipates a Q2 charge-off of $12.9 million on this loan.

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The company anticipates a Q2 charge-off of $12.9 million on this loan.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2650977869","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2650977869","pubTimestamp":1783633125,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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