First Foundation Business Summary

First Foundation Inc. (FFWM) operates as a diversified financial services holding company through its two primary subsidiaries, First Foundation Bank and First Foundation Advisors. The company generates revenue through a dual-stream model: net interest income derived from a specialized loan portfolio—primarily focused on multifamily and commercial real estate—and fee-based income from its private wealth management and trust services. Its business is segmented into Banking, which provides commercial and consumer banking products, and Wealth Management, which offers investment advisory and financial planning for high-net-worth individuals and institutions. In a competitive landscape dominated by regional players like Ameris Bancorp, CVB Financial, and ConnectOne Bancorp, First Foundation distinguishes itself by integrating high-touch advisory services with commercial banking, positioning itself as a niche, holistic provider for affluent clients in the Sunbelt and Western U.S. markets. The company was founded by Ulrich “Rick” Keller, Jr. and John Hakopian, who established the advisory platform in 1985 before expanding into banking in 2007. The current leadership team is headed by CEO Thomas C. Shafer, a veteran of Huntington Bancshares and TCF Financial, and Executive Vice President and CFO James “Jamie” Britton, formerly of Texas Capital Bank. Other key executives include President Simone Lagomarsino and CTO Adrian S. Darmawan. Following a transformative $228 million capital infusion in mid-2024, the company’s board and investor base feature significant representation from institutional heavyweights, including Fortress Investment Group, Canyon Partners, and Strategic Value Bank Partners, with Director Benjamin Mackovak serving as a key strategic figure as the firm approaches its pending merger with FirstSun Capital Bancorp.