SAN DIEGO & DENVER--(BUSINESS WIRE)--Castle Creek Capital, an alternative asset management firm focused on the financial services sector, with a specialization in the community banking industry, announced today that Castle Creek managed funds have acquired, from legacy stockholders, $40 million of common stock in FirstSun Capital Bancorp (the “Company” or “FirstSun”). In accordance with an agreement between affiliates of Castle Creek Capital and FirstSun, subject to satisfying all legal and regulatory requirements, it is expected that Spencer T. Cohn will join the Company’s board of directors upon the earlier of (i) the closing of the Company’s proposed merger with First Foundation Inc. (“First Foundation”) and (ii) the 2026 annual meeting of the Company’s stockholders. Castle Creek is now one of FirstSun’s largest institutional stockholders, with a current ownership stake of approx. 4% as of December 4, 2025.
“The merger with First Foundation plays to CEO Neal Arnold’s and CFO Rob Cafera’s demonstrated strengths given the balance sheet re-positioning required to unlock First Foundation’s underlying core franchise,” said Spencer T. Cohn, Director at Castle Creek Capital. “This combination allows management to substantially improve the Company’s already top-tier performance and also reduce its credit and liquidity risk profile given the complementary business mix and pristine asset quality at First Foundation. More importantly, we believe FirstSun’s enhanced pro forma run-rate and more durable earnings stream presents significant upside for stockholders today,” added Cohn.
“Working with sophisticated and experienced investors who share our values and drive for stockholder return continues to be a top priority for our team,” said Neal Arnold, CEO and President of FirstSun. “Castle Creek is well-known to us, and we are thrilled to partner with them again as we expand our franchise and geographic reach. Castle Creek is one of the most reputable investors in the industry with a strong cultural fit with our team, and we believe their continued support validates the merits of the merger and our strategy. We look forward to continuing to work collaboratively with Castle Creek,” added Arnold.
“As FirstSun has built a high quality, specialty bank on the foundation of our customer-centric community banking values, we have relied upon investors who understand the sector and what differentiates us to help fuel our growth,” said Mollie Carter, Executive Chairman of FirstSun. “We are pleased to have Castle Creek formally join those ranks, and we look forward to their continued support and contributions into this next chapter of our story,” added Carter.
“FirstSun’s impressive leadership team has built a remarkable organization, and we are thrilled to continue our partnership with the Company. CEO Neal Arnold, CFO Rob Cafera and the entire FirstSun team are highly focused on continuing to deliver a best-in-class regional bank, as evidenced by the Company’s consistent, industry-leading profitability and growth. Our longstanding relationship with this proven management team solidifies our conviction in the Company’s plan to drive substantial value creation for stockholders. We look forward to continued collaboration with the Company,” said Tony Scavuzzo, Managing Principal at Castle Creek Capital.
About FirstSun Capital Bancorp
FirstSun Capital Bancorp (NASDAQ: FSUN), headquartered in Denver, Colorado, is the financial holding company for Sunflower Bank, N.A., headquartered in Dallas, Texas, which operates as Sunflower Bank and First National 1870. Sunflower Bank provides a full range of relationship-focused services to meet personal, business and wealth management financial objectives, with depository branches in seven states and mortgage capabilities in 43 states. FirstSun had total consolidated assets of $8.5 billion as September 30, 2025.
First National 1870 is a division of Sunflower Bank, N.A. To learn more, visit ir.firstsuncb.com or SunflowerBank.com.
About Castle Creek Capital
Castle Creek Capital (the “Firm”) is an alternative asset management firm focused on the community banking industry. Located in San Diego, California and Dallas, Texas, the Firm has been a leading investor in community banking since its inception in 1990, having raised and managed nine private equity funds and multiple special situations funds. Castle Creek has more than 100 combined years of industry experience—five decades operating banks and another five investing in them—which allows the Firm to bring differentiated insight to its portfolio companies.
Sidley Austin LLP acted as legal counsel to Castle Creek Capital.
Nelson Mullins Riley & Scarborough LLP acted as legal counsel to FirstSun Capital Bancorp.