First Foundation Management

Management criteria checks 1/4

We currently do not have sufficient information about the CEO.

Key information

Tom Shafer

Chief executive officer

US$5.1m

Total compensation

CEO salary percentage	2.6%
CEO tenure	less than a year
CEO ownership	n/a
Management average tenure	2.1yrs
Board average tenure	less than a year

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tom Shafer's remuneration changed compared to First Foundation's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2025	n/a	n/a	-US$86m
Dec 31 2024	US$5m	US$133k	-US$92m

Compensation vs Market: Tom's total compensation ($USD5.08M) is above average for companies of similar size in the German market ($USD983.78K).

Compensation vs Earnings: Insufficient data to compare Tom's compensation with company performance.

CEO

Tom Shafer (65 yo)

less than a year

Tenure

US$5,075,795

Compensation

Mr. Thomas C. Shafer, also known as Tom, is CEO & Director of First Foundation Bank from November 21, 2024. He is CEO & Director of First Foundation Inc. from November 21, 2024. He served as Senior Executi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thomas Shafer	CEO & Director	less than a year	US$5.08m	no data
Simone Lagomarsino	President & Director	less than a year	US$872.58k	0.15% € 564.6k
James Britton	Executive VP & CFO	1.8yrs	US$650.00k	0.0037% € 14.0k
Christopher Naghibi	Executive VP & COO	2.4yrs	US$744.75k	0.010% € 39.1k
John Hakopian	President & Co-Chief Investment Officer of First Foundation Advisors	no data	US$1.08m	0.80% € 3.0m
Adriano Darmawan	CTO & Executive VP	no data	no data	no data
Erica Dorsett	Executive VP	1.5yrs	no data	no data
Kristoffer Lynds	Senior Vice President of Commercial Real Estate	9.8yrs	no data	no data
Shelly O'Byrne	Executive VP & Director of Trust Services	8.4yrs	no data	no data
Allan Gomez	Senior VP & Relationship Banker	7.2yrs	no data	no data
Adele Green	Senior VP & Director of SBA Lending	6.8yrs	no data	no data
Roger Stinnett	Managing Director of Wealth Planning	less than a year	no data	no data

2.1yrs

Average Tenure

56yo

Average Age

Experienced Management: 8F1's management team is considered experienced (2.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas Shafer	CEO & Director	less than a year	US$5.08m	no data
Simone Lagomarsino	President & Director	less than a year	US$872.58k	0.15% € 564.6k
Jacob Sonenshine	Independent Director	18.3yrs	US$143.33k	0.12% € 459.3k
C. Parker	Independent Director	less than a year	US$23.33k	no data
Max Briggs	Chairman & Lead Independent Director	12.8yrs	US$160.00k	0.086% € 328.3k
Mitchell Rosenberg	Independent Director	18.3yrs	US$140.00k	0.094% € 358.9k
Henchy Enden	Independent Director	less than a year	no data	no data
Elizabeth Pagliarini	Independent Director	6yrs	US$140.00k	0.033% € 126.3k
Sam Edelson	Independent Director	less than a year	US$70.00k	no data
Benjamin Mackovak	Independent Director	less than a year	US$70.00k	no data

0.7yrs

Average Tenure

55.5yo

Average Age

Experienced Board: 8F1's board of directors are not considered experienced ( 0.7 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/09 13:59
End of Day Share Price	2025/05/09 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Foundation Inc. is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Stephen Moss	B. Riley Securities, Inc.
null null	D.A. Davidson & Co.
Gary Tenner	D.A. Davidson & Co.

First Foundation Management

Management criteria checks 1/4

Key information

Recent management updates

First Foundation Inc., Annual General Meeting, May 29, 2025

First Foundation Inc. and First Foundation Bank Announce Chief Executive Officer Changes

First Foundation Inc. and Its Wholly Owned Subsidiary First Foundation Bank Announces Board Changes

First Foundation Inc. Appoints C. Allen Parker as A Director

Less than half of directors are independent

First Foundation Inc. Announces Executive and Board Appointments

Recent updates

First Foundation Inc., Annual General Meeting, May 29, 2025

First Foundation Inc. to Report Q1, 2025 Results on Apr 30, 2025

First Foundation Inc. to Report Q4, 2024 Final Results on Jan 30, 2025

First Foundation Inc. and First Foundation Bank Announce Chief Executive Officer Changes

First Foundation Inc. and Its Wholly Owned Subsidiary First Foundation Bank Announces Board Changes

First Foundation Inc. Appoints C. Allen Parker as A Director

Less than half of directors are independent

Investor sentiment improves as stock rises 16%

First Foundation Inc. to Report Q3, 2024 Results on Oct 29, 2024

First Foundation Inc. Announces Executive and Board Appointments

Second quarter 2024 earnings released: EPS: US$0.055 (vs US$3.76 loss in 2Q 2023)

First Foundation Inc. announced that it has received $228 million in funding from Fortress Investment Group LLC, Canyon Partners, LLC, Strategic Value Bank Partners LLC, North Reef Capital LLC

New minor risk - Shareholder dilution

First Foundation Inc. to Report Q2, 2024 Results on Jul 25, 2024

First Foundation Inc.(NYSE:FFWM) dropped from Russell 2000 Value-Defensive Index

Now 11% overvalued

Now 21% undervalued after recent price drop

Now 20% undervalued after recent price drop

Now 21% undervalued after recent price drop

First quarter dividend of US$0.01 announced

First quarter 2024 earnings released: EPS: US$0.014 (vs US$0.15 in 1Q 2023)

First Foundation Inc., Annual General Meeting, May 28, 2024

First Foundation Inc. to Report Q1, 2024 Results on Apr 25, 2024

Executive Chairman recently sold €189k worth of stock

Full year 2023 earnings released: US$3.53 loss per share (vs US$1.96 profit in FY 2022)

Now 20% undervalued

Third quarter dividend of US$0.01 announced

First Foundation Inc. Announces Dividend, Payable on February 15, 2024

Executive Chairman recently sold €245k worth of stock

Now 23% undervalued after recent price drop

First Foundation Inc. Approves Quarterly Cash Dividend, Payable on November 16, 2023

Third quarter 2023 earnings released: EPS: US$0.039 (vs US$0.51 in 3Q 2022)

First Foundation Inc. to Report Q3, 2023 Results on Oct 26, 2023

First Foundation Inc., First Foundation Advisors and First Foundation Bank Appoints James Britton as Executive Vice President, Effective August 14, 2023

First Foundation Inc. Declares Dividend, Payable on August 17, 2023

Second quarter 2023 earnings released: US$3.76 loss per share (vs US$0.59 profit in 2Q 2022)

Investor sentiment improves as stock rises 16%

First Foundation Inc. to Report Q2, 2023 Results on Jul 27, 2023

Glass Lewis Recommends Shareholders to Vote for Driver Management Nominee

Driver Management Company Issues an Investor Presentation to Shareholders of First Foundation

Investor sentiment improves as stock rises 23%

First Foundation Inc., Annual General Meeting, Jun 27, 2023

Investor sentiment deteriorates as stock falls 26%

First quarter 2023 earnings released: EPS: US$0.15 (vs US$0.55 in 1Q 2022)

Board Member recently sold €1.5m worth of stock

Investor sentiment deteriorates as stock falls 23%

Full year 2022 earnings released: EPS: US$1.96 (vs US$2.42 in FY 2021)

Executive Chairman recently sold €374k worth of stock

Driver Management Sends Letter to the CEO of First Foundation

Driver Management Company Sends Letter to First Foundation’s Chief Executive Officer

First Foundation Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings released: EPS: US$1.96 (vs US$2.42 in FY 2021)

Driver Management Steps Up Pressure on First Foundation on Board Candidates

Driver Management Company Sends Letter to First Foundation

First Foundation Inc. to Report Q4, 2022 Results on Jan 26, 2023

First Foundation Inc. Announces Senior Leadership Appointments

Independent Director recently bought €72k worth of stock

First Foundation Inc. Announces Board Changes

Insufficient new directors

First Foundation Inc. Announces Senior Management Transition

Third quarter 2022 earnings released: EPS: US$0.51 (vs US$0.83 in 3Q 2021)

First Foundation Inc. to Report Q3, 2022 Results on Oct 25, 2022

First Foundation Inc. Expands Trust and Advisory Presence in Florida with New Leadership Appointments

First Foundation Inc. Approves Quarterly Cash Dividend, Payable on August 16, 2022

Second quarter 2022 earnings released: EPS: US$0.59 (vs US$0.58 in 2Q 2021)

First Foundation Inc. to Report Q2, 2022 Results on Jul 26, 2022

Insufficient new directors

First Foundation Inc., Annual General Meeting, Jun 07, 2022

First quarter 2022 earnings released: EPS: US$0.55 (vs US$0.50 in 1Q 2021)