First Foundation - FFWM STOCK NEWS

First Foundation Inc. (NASDAQ: FFWM) announced its financial results for Q1 2023, showcasing a solid performance in personal and business banking along with private wealth management services.

The detailed earnings report is accessible online, with a live call scheduled for 8 a.m. PT to discuss the results.

FFWM offers a competitive range of financial products designed to cater to customers at various financial stages, alongside a personalized service model. This strategy has contributed to a growth in its client base, aligning it with larger financial institutions while maintaining community-oriented service.

First Foundation Inc. (NASDAQ: FFWM) has appointed Gabriel Vazquez as an independent director to its Board of Directors, enhancing board diversity and independence. With this addition, the board now comprises ten directors, seven of whom are independent. Vasquez, currently serving as Vice President and Associate General Counsel for Vistra Corp., brings significant legal, financial, and operational experience. He will stand for election at the upcoming 2023 Annual Meeting of Stockholders. Lead Independent Director Max Briggs highlighted his strong background in regulated businesses, while CEO Scott Kavanaugh noted his expertise will aid in navigating risks and scaling operations in a changing market.

First Foundation Inc. (NASDAQ: FFWM) announced it will release its first quarter 2023 earnings results on April 27 before the market opens. At 11:00 AM ET, CEO Scott F. Kavanaugh will host a discussion on the financial results and recent company activities. Investors can access the earnings webcast via First Foundation's website or by telephone at 800-274-8461 with Conference ID FFWMQ123. An archive of the call will be available later on their investor relations page. First Foundation provides a comprehensive range of financial services, including personal and business banking, investment, trust, insurance, and philanthropy services, distinguishing itself with personalized service and accessibility that aligns more with community banks and boutique wealth management firms.

First Foundation Inc. (NASDAQ: FFWM) reassures its stakeholders of its strong financial position amid recent industry turbulence. As of March 17, 2023, the company holds consolidated total assets exceeding $13.9 billion and maintains a robust liquidity status with approximately $1.3 billion in cash. Despite experiencing temporary net deposit outflows due to market conditions, the bank has seen a normalization of deposit trends, with 80% of deposits now insured, an increase from 60%. The management emphasizes a commitment to risk management and customer service amidst evolving market dynamics.

First Foundation Inc. (NASDAQ: FFWM) released updated financial information emphasizing its strong stability as a regional bank. As of March 10, 2023, First Foundation Bank manages over $13.2 billion in assets with a solid liquidity position, including $972 million in cash and equivalents and a loan-to-deposit ratio of 98%. Total deposits reached $10.9 billion, a growth of $600 million since year-end 2022. The bank has no significant exposure to troubled entities like Silicon Valley Bank. CEO Scott F. Kavanaugh reaffirmed the bank's resilience amid market challenges, demonstrating a reliable approach to risk management and client services.

First Foundation Inc. (NASDAQ: FFWM) issued a statement regarding Driver Opportunity Partners I LP's intent to nominate directors for the upcoming 2023 Annual Meeting. The Company denounced Driver's campaign, labeling it opportunistic amid a management transition. Despite the challenges posed by the macroeconomic environment, First Foundation reported a compounded annual growth rate in key metrics over the past ten years:

• Loan growth of 30.7%
• Asset growth of 31.7%
• Net income growth of 34.3%
• Earnings per share growth of 16.7%
• Operating revenue growth of 23.7%
• Tangible common equity growth of 28.7%
• Dividend per share growth of 30.1%

First Foundation Inc. (NASDAQ: FFWM) released its financial results for the fourth quarter and year ended December 31, 2022. In a conference call scheduled for 8 a.m. PT / 11 a.m. ET, executives will discuss the outcomes and recent activities. The call will be available via webcast and dial-in options. The company's services include personal banking, business banking, and wealth management, providing a comprehensive financial solution tailored for clients. More details can be found in their detailed earnings report and investor presentation available online.

First Foundation (NASDAQ: FFWM) will announce its fourth quarter and full-year 2022 earnings results on January 26 before market opening. CEO Scott F. Kavanaugh will discuss the financial results and company's recent activities during a conference call scheduled for 11:00 AM ET. Interested parties can access the call through a webcast or by telephone using the toll-free number 800-267-6316 with Conference ID FFWMQ422.

First Foundation Inc. (NASDAQ: FFWM) has announced key executive changes with Christopher M. Naghibi appointed as Chief Operating Officer and Hugo Nuño as Chief Banking Officer. Naghibi, previously Chief Credit Officer, will oversee the Bank’s credit and loan servicing operations, while Nuño will manage Risk Management and Compliance. The changes aim to leverage the company's talent and enhance its competitive edge amid a challenging economic environment, as stated by CEO Scott F. Kavanaugh.