First Foundation Management

Management criteria checks 4/4

First Foundation's CEO is Scott Kavanaugh, appointed in Dec 2009, has a tenure of 14.33 years. total yearly compensation is $1.33M, comprised of 71.5% salary and 28.5% bonuses, including company stock and options. directly owns 2.48% of the company’s shares, worth $9.37M. The average tenure of the management team and the board of directors is 5.9 years and 14.3 years respectively.

Key information

Scott Kavanaugh

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	71.5%
CEO tenure	14.3yrs
CEO ownership	2.5%
Management average tenure	5.9yrs
Board average tenure	14.3yrs

Recent management updates

Recent updates

First Foundation GAAP EPS of $0.59 beats by $0.04, revenue of $95.2M beats by $3.2M

Jul 26

First Foundation's (NASDAQ:FFWM) Dividend Will Be Increased To US$0.11

Feb 03

First Foundation: Attractive Risk/Reward

Jan 26

Does First Foundation (NASDAQ:FFWM) Deserve A Spot On Your Watchlist?

Dec 23

CEO Compensation Analysis

How has Scott Kavanaugh's remuneration changed compared to First Foundation's earnings?
Date	Total Compensation	Salary	Company Earnings
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 ($USD1.33M) is below average for companies of similar size in the US market ($USD2.37M).

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

CEO

Scott Kavanaugh (62 yo)

14.3yrs

Tenure

US$1,329,000

Compensation

Mr. Scott Farris Kavanaugh is President and Chief Executive Officer of First Foundation Advisors. In this role he is responsible for providing strategic leadership and implementing the mission and vision o...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ulrich Keller	Executive Chairman	16.8yrs	US$657.00k	3.82% $ 14.5m
Scott Kavanaugh	CEO, President & Vice Chairman	14.3yrs	US$1.33m	2.48% $ 9.4m
James Britton	Executive VP & CFO	less than a year	US$495.10k	no data
Christopher Naghibi	Executive VP & COO	1.3yrs	US$504.00k	0.013% $ 51.0k
Amy Djou	Executive VP & Deputy CFO	no data	US$356.84k	0.00059% $ 2.2k
Adriano Darmawan	CTO & Executive VP	no data	no data	no data
Erica Dorsett	Executive VP & Chief Legal 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	8.7yrs	no data	no data
Shelly O'Byrne	Executive VP & Director of Trust Services	7.3yrs	no data	no data
Allan Gomez	Senior VP & Relationship Banker	6.1yrs	no data	no data
Adele Green	Senior VP & Director of SBA Lending	5.7yrs	no data	no data

5.9yrs

Average Tenure

54yo

Average Age

Experienced Management: FFWM's management team is seasoned and experienced (5.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ulrich Keller	Executive Chairman	16.8yrs	US$657.00k	3.82% $ 14.5m
Scott Kavanaugh	CEO, President & Vice Chairman	16.8yrs	US$1.33m	2.48% $ 9.4m
Jacob Sonenshine	Independent Director	17.3yrs	US$140.00k	0.17% $ 635.7k
Diane Rubin	Independent Director	4.9yrs	US$160.00k	0.038% $ 144.1k
John Hakopian	Director	17.3yrs	US$635.79k	1.16% $ 4.4m
Max Briggs	Lead Independent Director	11.7yrs	US$160.00k	0.12% $ 442.0k
Mitchell Rosenberg	Independent Director	17.3yrs	US$140.00k	0.12% $ 442.5k
David Lake	Independent Director	5.8yrs	US$140.00k	0.29% $ 1.1m
Elizabeth Pagliarini	Independent Director	4.9yrs	US$140.00k	0.053% $ 201.7k
Gabriel Vazquez	Independent Director	less than a year	US$105.00k	0.021% $ 79.6k

14.3yrs

Average Tenure

56.5yo

Average Age

Experienced Board: FFWM's board of directors are seasoned and experienced ( 14.3 years average tenure).

First Foundation Management

Management criteria checks 4/4

Key information

Recent management updates

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

Executive Chairman recently sold US$204k worth of stock

Executive Chairman recently sold US$267k worth of stock

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

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

Board Member recently sold US$1.6m worth of stock

Recent updates

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

Now 23% overvalued

Now 26% overvalued after recent price rise

Executive Chairman recently sold US$204k worth of stock

Full year 2023 earnings: EPS in line with expectations, revenues disappoint

First Foundation: This Bank Is Suffering From The Choices Of 2022

Consensus EPS estimates fall by 12%

Third quarter dividend of US$0.01 announced

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

Price target increased by 13% to US$9.90

Executive Chairman recently sold US$267k worth of stock

Price target decreased by 9.8% to US$8.30

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

Third quarter 2023 earnings: Revenues and EPS in line with analyst expectations

Now 20% undervalued after recent price drop

First Foundation: A Steep Discount For A Risky Prospect

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

Price target increased by 22% to US$9.00

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

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Investor sentiment improves as stock rises 16%

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

Price target decreased by 10% to US$7.80

Consensus EPS estimates fall by 22%

Glass Lewis Recommends Shareholders to Vote for Driver Management Nominee

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

Now 20% undervalued after recent price drop

Investor sentiment improves as stock rises 28%

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

Now 20% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 27%

Price target decreased by 20% to US$8.75

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Now 23% undervalued after recent price drop

Price target decreased by 18% to US$14.80

Investor sentiment improves as stock rises 17%

Board Member recently sold US$1.6m worth of stock

Now 13% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 22%

Full year 2022 earnings: EPS in line with expectations, revenues disappoint

CEO, President & Vice Chairman exercised options to buy US$97k worth of stock.

Executive Chairman recently sold US$409k worth of stock

Driver Management Sends Letter to the CEO of First Foundation

Consensus revenue estimates fall by 10%

First Foundation (NASDAQ:FFWM) Is Due To Pay A Dividend Of $0.11

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: EPS in line with expectations, revenues disappoint

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

Price target decreased to US$18.10

First Foundation Inc. Announces Senior Leadership Appointments

Independent Director recently bought US$75k worth of stock

First Foundation Inc. Announces Board Changes

Insufficient new directors

First Foundation Inc. Announces Senior Management Transition

Upcoming dividend of US$0.11 per share

Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat

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 goes ex-dividend tomorrow

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

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

First Foundation GAAP EPS of $0.59 beats by $0.04, revenue of $95.2M beats by $3.2M