First Foundation Inc. - FFWM STOCK NEWS

First Foundation Inc. (NASDAQ: FFWM) has announced a public offering of $150 million in fixed-to-floating rate subordinated notes due 2032, initially offering a 3.50% interest rate. Starting February 1, 2027, the rate will adjust quarterly to the three-month SOFR rate plus 204 basis points. Proceeds will support corporate growth, including capital for strategic acquisitions and repaying up to $30 million of existing debt. The offering is expected to close on January 24, 2022, subject to customary conditions.

First Foundation (NASDAQ: FFWM) has announced the recipients of its ninth annual ‘Supporting Our Communities’ philanthropy initiative, focusing on affordable housing, workforce development, and economic growth. This year, 30 nonprofit organizations were selected to receive grants aimed at enhancing community development in low- and moderate-income areas. The initiative also offers educational support and strategic planning for nonprofits, reinforcing First Foundation's commitment to community engagement. Future plans include expanding the program into Florida following its recent merger with TGR Financial.

First Foundation Inc. (NASDAQ: FFWM) will release its fourth quarter 2021 earnings results on January 31 before market open. CEO Scott F. Kavanaugh and CFO Kevin Thompson will host a conference call at 11:00AM ET to discuss financial performance. Interested parties can access the earnings release via the company's investor relations website. First Foundation provides a comprehensive range of financial services, combining the benefits of larger institutions with personalized service, contributing to its business growth.

First Foundation Inc. (NASDAQ: FFWM) has completed its acquisition of TGR Financial, Inc. and its subsidiary, First Florida Integrity Bank, as of December 17, 2021. This strategic move enhances First Foundation's presence from coast to coast, adding approximately $1.1 billion in loans and $2.2 billion in deposits. CEO Scott F. Kavanaugh highlighted the acquisition as a significant milestone for the company. The integration is set to proceed smoothly with plans for a full system conversion in Q2 2022. Gary L. Tice and Garrett Richter have been appointed to the Board and as Market President for Florida, respectively.

First Foundation Bank has launched the FFB Mobile app powered by MXmobile, aligning with its digital strategy to enhance client experiences and financial wellness. The app provides a secure platform for managing accounts and offers personalized financial insights. The partnership aims to simplify banking and includes support for monitoring crypto holdings. First Foundation Bank's COO emphasized the importance of a user-friendly experience, while MX's Chief Customer Officer highlighted their shared commitment to effortless digital banking.

First Foundation Inc. (NASDAQ: FFWM) announced that it has received all necessary regulatory approvals for the merger with TGR Financial, Inc. and its subsidiary, First Florida Integrity Bank. These mergers are anticipated to close around December 17, 2021. Following the mergers, First Foundation's total bank assets would reach approximately $9.9 billion, with total loans outstanding around $7.0 billion and total deposits of about $8.7 billion as of October 31, 2021. Additionally, the mergers will expand First Foundation's footprint in Florida, adding seven retail branches.

Kroll Bond Rating Agency (KBRA) has assigned various ratings to First Foundation, Inc. (NASDAQ: FFWM). The company received a senior unsecured debt rating of BBB and a subordinated debt rating of BBB-. Its subsidiary, First Foundation Bank, achieved a deposit and senior unsecured debt rating of BBB+. The ratings reflect a strong management team, consistent credit performance, and stable fee income from wealth management operations, accounting for 20% of revenues. The company maintains a CET1 ratio of 11.3%, indicating adequate capitalization.

First Foundation Inc. (NASDAQ: FFWM) announced its financial results for Q3 2021. The detailed earnings report and investor presentation are available online. CEO Scott F. Kavanaugh and CFO Kevin Thompson will discuss the results and recent activities in a live call at 8 a.m. PT. First Foundation offers comprehensive financial services, including personal and business banking, investment, and wealth management across California, Texas, Nevada, and Hawaii. The company emphasizes personalized service and a broad range of products, aiming to support clients at all financial stages.

First Foundation Inc. (NASDAQ: FFWM) will announce its third quarter 2021 earnings on October 26, prior to market opening. A conference call will occur at 11:00 AM ET, featuring CEO Scott F. Kavanaugh and CFO Kevin Thompson discussing financial results. The earnings report and accompanying slide presentation will be accessible on the company's investor relations website. Investors can participate via live internet broadcast or telephone, with a replay option available afterward.