FirstSun Capital Bancorp plans to add a representative from Castle Creek Capital Partners to its board after the investment group bought stock from another one of the Denver company’s investors.
Castle Creek said in a press release that it purchased $40 million of FirstSun common stock, adding that it now has a 4% stake in the company.
Spencer Cohn is expected to join FirstSun’s board when the company buys First Foundation in Texas or at its 2026 annual meeting, whichever comes first.
If that doesn’t happen, Castle Creek will be allowed to appoint a nonvoting observer to the board.
Castle Creek will have these rights as long as it owns at least 40% of the shares it currently has.