FirstSun Capital Bancorp, the holding company of Dallas-based Sunflower Bank, is acquiring First Foundation Bank, which is based in Irvine, Calif.
Under the terms of the deal, First Foundation will merge into FirstSunʻs Sunflower Bank, with Sunflower Bank continuing as the surviving bank. The combined holding company and bank will operate under the FirstSun and Sunflower Bank names after the transaction closes.
This all stock transaction is valued at $785 million based on FirstSun’s closing price as of Oct. 24, 2025. FirstSun stockholders will own 59.5 percent while First Foundation stockholders will own 40.5 percent of the combined company.
Mollie Hale Carter, executive chairman of FirstSun, Neal Arnold, CEO, president & director of FirstSun, and Rob Cafera, CFO of FirstSun, will retain their current roles at the combined company. Tom Shafer, the current CEO of First Foundation, will serve as vice chairman of the combined company. Also, five current First Foundation directors will be invited to join the combined company’s board of directors.
“We are thrilled to welcome the customers and team members of First Foundation to the FirstSun and Sunflower Bank family,” Carter said. “This merger represents an exciting opportunity to strengthen our platform for long-term, sustainable growth, expand our earnings power, and drive greater value for our stockholders. Both organizations have a strong presence in large, vibrant markets, including the highly attractive Southern California region, which remains a key focus for our ongoing growth strategy. Together, FirstSun and First Foundation will form a premier regional bank with a powerful footprint across some of the most dynamic markets in the country. This combination allows us to leverage FirstSun’s proven deposit and C&I-focused growth strategy at a larger scale.”
The merger would create a differentiated franchise in some of the best growth markets across the United States. It would also accelerate FirstSun’s current expansion strategy in Southern California, across a branch network totaling 18 locations. In addition, it migrate First Foundation’s franchise to a higher profitability business model and mix. It also positions the combined company to sustain and build upon FirstSun’s organic growth rate.
“Joining forces with FirstSun marks an exciting new chapter for First Foundation,” Shafer said. “This merger strengthens our ability to deliver exceptional financial services and expands our reach across key markets. Our employees continue to be the driving force behind our success, and their commitment to excellence makes this next chapter possible. We are particularly excited to accelerate the business plan of First Foundation Advisors, our private wealth management platform, with respect to further growing lending and deposits within the existing customer base as well as providing more firepower to grow that business throughout the combined organization’s expansive footprint.”
The combined bank will have total assets of approximately $17 billion and total AUM of approximately $6.8 billion.