FirstSun Capital Bancorp, First Foundation to merge in all-stock deal for $785M

* FirstSun Capital Bancorp (NASDAQ:FSUN [https://seekingalpha.com/symbol/FSUN]) said on Monday that it will acquire First Foundation (NYSE:FFWM [https://seekingalpha.com/symbol/FFWM]) for $785 million in an all-stock merger deal.
* Under the agreement, First Foundation's common and preferred stockholders will receive 0.16083 of a share of FirstSun common stock for each share of First Foundation common stock owned on a fully converted basis.
* Additionally, First Foundation’s warrant holders will exercise their warrants early and receive FirstSun common stock in the merger and also receive additional cash consideration totaling $17.5 million in the aggregate.
* First Foundation will merge with and into FirstSun, with FirstSun continuing as the surviving company. Immediately following the merger, First Foundation Bank will merge with and into Sunflower Bank, with Sunflower Bank continuing as the surviving bank.
* FirstSun stockholders will own 59.5% and First Foundation stockholders will own 40.5% of the combined company following the merger.
* FirstSun expects 2027 EPS accretion of 30%+ and a 3.3 year earn back on tangible book value dilution following the merger.
* The merger is expected to deliver total assets of ~$17 billion and total AUM of ~$6.8 billion by 2027.
* FFWM +4.68% after hours to $5.81.
* Source: Press Release [https://seekingalpha.com/pr/20281072-firstsun-capital-bancorp-and-first-foundation-inc-combining-in-all-stock-merger]

MORE ON FIRST FOUNDATION, FIRSTSUN CAPITAL BANCORP

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* Seeking Alpha’s Quant Rating on First Foundation [https://seekingalpha.com/symbol/FFWM/ratings/quant-ratings]