First Foundation Management

Management criteria checks 4/4

First Foundation's CEO is Scott Kavanaugh, appointed in Dec 2009, has a tenure of 14.92 years. total yearly compensation is $1.33M, comprised of 71.5% salary and 28.5% bonuses, including company stock and options. directly owns 1.71% of the company’s shares, worth €10.86M. The average tenure of the management team and the board of directors is 6.3 years and 5.5 years respectively.

Key information

Scott Kavanaugh

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	71.5%
CEO tenure	14.9yrs
CEO ownership	1.7%
Management average tenure	6.3yrs
Board average tenure	5.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Scott Kavanaugh's remuneration changed compared to First Foundation's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$76m
Jun 30 2024	n/a	n/a	US$9m
Mar 31 2024	n/a	n/a	-US$207m
Dec 31 2023	US$1m	US$950k	-US$199m
Sep 30 2023	n/a	n/a	-US$184m
Jun 30 2023	n/a	n/a	-US$157m
Mar 31 2023	n/a	n/a	US$88m
Dec 31 2022	US$3m	US$950k	US$111m
Sep 30 2022	n/a	n/a	US$117m
Jun 30 2022	n/a	n/a	US$125m
Mar 31 2022	n/a	n/a	US$118m
Dec 31 2021	US$2m	US$950k	US$110m
Sep 30 2021	n/a	n/a	US$108m
Jun 30 2021	n/a	n/a	US$102m
Mar 31 2021	n/a	n/a	US$94m
Dec 31 2020	US$2m	US$850k	US$84m
Sep 30 2020	n/a	n/a	US$77m
Jun 30 2020	n/a	n/a	US$64m
Mar 31 2020	n/a	n/a	US$58m
Dec 31 2019	US$2m	US$856k	US$56m
Sep 30 2019	n/a	n/a	US$55m
Jun 30 2019	n/a	n/a	US$53m
Mar 31 2019	n/a	n/a	US$45m
Dec 31 2018	US$2m	US$706k	US$43m
Sep 30 2018	n/a	n/a	US$31m
Jun 30 2018	n/a	n/a	US$26m
Mar 31 2018	n/a	n/a	US$30m
Dec 31 2017	US$2m	US$706k	US$28m

Compensation vs Market: Scott's total compensation ($USD1.33M) is about average for companies of similar size in the German market ($USD1.46M).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.

CEO

Scott Kavanaugh (63 yo)

14.9yrs

Tenure

US$1,329,000

Compensation

Mr. Scott Farris Kavanaugh is CEO & Director of First Foundation Inc. from 2024. He was President and Chief Executive Officer of First Foundation Advisors until September 3, 2024. In this role he is respon...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Scott Kavanaugh	CEO & Director	14.9yrs	US$1.33m	1.71% € 10.9m
James Britton	Executive VP & CFO	1.3yrs	US$495.10k	0.0037% € 23.3k
Christopher Naghibi	Executive VP & COO	1.9yrs	US$504.00k	0.0092% € 58.7k
Amy Djou	Executive VP & Deputy CFO	no data	US$356.84k	0.00040% € 2.5k
Simone Lagomarsino	President & Director	less than a year	no data	0.15% € 940.4k
Adriano Darmawan	CTO & Executive VP	no data	no data	no data
Erica Dorsett	Executive VP & General Counsel	less than a year	no data	no data
Lisa Carlson	Executive VP & Chief Human Resources Officer	no data	no data	no data
Kristoffer Lynds	Senior Vice President of Commercial Real Estate	9.3yrs	no data	no data
Shelly O'Byrne	Executive VP & Director of Trust Services	7.9yrs	no data	no data
Allan Gomez	Senior VP & Relationship Banker	6.7yrs	no data	no data
Adele Green	Senior VP & Director of SBA Lending	6.3yrs	no data	no data

6.3yrs

Average Tenure

55yo

Average Age

Experienced Management: 8F1's management team is seasoned and experienced (6.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Scott Kavanaugh	CEO & Director	17.8yrs	US$1.33m	1.71% € 10.9m
Simone Lagomarsino	President & Director	no data	no data	0.15% € 940.4k
Jacob Sonenshine	Independent Director	17.8yrs	US$140.00k	0.12% € 765.0k
C. Parker	Director	no data	no data	no data
Max Briggs	Lead Independent Director	12.3yrs	US$160.00k	0.086% € 546.9k
Mitchell Rosenberg	Independent Director	17.8yrs	US$140.00k	0.085% € 542.7k
Henchy Enden	Director	less than a year	no data	no data
Elizabeth Pagliarini	Independent Director	5.5yrs	US$140.00k	0.042% € 266.5k
Sam Edelson	Director	less than a year	no data	no data
Benjamin Mackovak	Director	less than a year	no data	no data

5.5yrs

Average Tenure

58yo

Average Age

Experienced Board: 8F1's board of directors are considered experienced (5.5 years average tenure).

First Foundation Management

Management criteria checks 4/4

Key information

Recent management updates

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

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

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

Recent updates

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

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

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

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

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)