FirstSun Capital Bancorp Faces Investigation After Loan Loss Disclosures

The financial fallout follows a Form 8-K filing released by the bank after markets closed on July 9. The report projected a provision for credit losses between $40 million and $41 million for the second quarter, a sharp departure from earlier guidance. During an April 28 earnings call, CFO Robert A. Cafera had anticipated full-year charge-offs in the mid-20s basis points, yet the company now expects figures in the high 50s.

Investors who incurred losses following the stock's 8.7% decline are now under review by Levi & Korsinsky LLP to determine if the bank provided adequate disclosure regarding asset risk. The firm is evaluating whether the discrepancy between the CFO’s previous guidance and the current loss projections misled shareholders. Affected investors are encouraged to document purchase dates and share quantities, as the investigation remains open to those who have already sold their holdings.