First Foundation Inc. - FFWM STOCK NEWS

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.

First Foundation (NASDAQ: FFWM) has awarded $635,000 in grants to 45 nonprofits as part of its ‘Supporting Our Communities’ initiative, celebrating its 10th anniversary. This year’s funding expands to new markets including Florida and Texas, emphasizing community development in areas like affordable housing and workforce development. The program aims to foster sustainable growth in low- and moderate-income communities. First Foundation also provides strategic support to its nonprofit partners.

First Foundation Inc. (NASDAQ: FFWM) announced the immediate resignation of President David DePillo, who had served since 2015. Kevin Thompson, the Chief Financial Officer since 2020, has been appointed as the Interim President while a search for a permanent replacement begins. Thompson has a robust background in finance, having held key positions at Opus Bank and other institutions. CEO Scott F. Kavanaugh expressed confidence in Thompson’s leadership skills and business acumen during this transition, emphasizing continuity in the bank’s strategic initiatives.

First Foundation Inc. (NASDAQ: FFWM) reported its financial results for the quarter ended September 30, 2022. The earnings report highlights a comprehensive range of financial services including personal and business banking, along with private wealth management. An earnings discussion hosted by CEO Scott F. Kavanaugh and CFO Kevin Thompson is scheduled for 8 a.m. PT on the same day. The company emphasizes a blend of personalized service and a broad spectrum of financial products, setting it apart from competitors and contributing to client base growth.

First Foundation Inc. (NASDAQ: FFWM) will announce its third quarter 2022 earnings results on October 25, 2022, before market opening. A conference call with CEO Scott F. Kavanaugh and CFO Kevin Thompson will follow at 11:00 AM ET to discuss financial performance. The earnings report and presentation will be accessible via First Foundation's investor relations website. The company offers personal banking, business banking, and wealth management services, combining comprehensive financial products with personalized service.