FirstSun Says Regulators Won’t Approve HomeStreet Deal

FirstSun Capital Bancorp says regulatory approvals necessary for merger with HomeStreet have not been approved by the Federal Reserve and the Texas Department of Banking.

• FirstSun and Sunflower have been asked to withdraw their merger applications, according to statement
• FirstSun and HomeStreet discussing an alternative regulatory structure for the merger and also discussing terms for possible termination of merger agreement if no alternative structure is feasible
• “We are disappointed in the process to date, but we remain hopeful that we will be able to continue productive discussions with regulators in order to obtain regulatory approval,” Neal Arnold, Chief Executive Officer ...