Transactions with Related Parties

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Transactions with Related Parties

Transactions with Related Parties

We have and may be expected to have in the future, banking transactions in the ordinary course of business with directors, significant stockholders, principal officers and their immediate families and affiliated companies in which they are principal stockholders (commonly referred to as related parties).

Loans:

As of December 31, 2023 and 2022, outstanding loans with related parties totaled $2,601 and $2,940, respectively. As of December 31, 2023, there were unused lines of credit with directors or officers totaling $1,231.

Deposits:

As of December 31, 2023 and 2022, deposits with related parties totaled $51,759 and $4,662, respectively.

Director Fees:

Fees paid to directors of the Company and the Bank for the year ended December 31, 2023, 2022 and 2021 totaled $535, $488 and $310, respectively.

Principal Officers:

On November 8, 2023, FirstSun acquired all membership interests of FEIF Capital Partners, LLC, a Delaware limited liability company (“FEIF”) from our chief executive officer for $150 and assumed liabilities of $11. FEIF currently has no operations. FEIF owns FEIF GP, LLC, a limited liability company with no assets. These entities will provide investment management services and are related to a future business activity of the Company.