First Foundation Inc.

NYSE:FFWM Stock Report

Market Cap: US$477.7m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

First Foundation Management

Management criteria checks 0/4

We currently do not have sufficient information about the CEO.

Key information

Tom Shafer

Chief executive officer

US$4.0m

Total compensation

CEO salary percentage3.31%
CEO tenure1.3yrs
CEO ownershipn/a
Management average tenure1.7yrs
Board average tenure1.5yrs

Recent management updates

Recent updates

Narrative Update • Apr 01

FFWM: Merger Synergies With FirstSun Will Support Higher Future Earnings Multiple

Analysts have lifted their price target on First Foundation by $1.00 per share, citing updated assumptions that include revised fair value, discount rate, revenue growth, profit margin, and future P/E inputs. What's in the News FirstSun Capital Bancorp executed a letter of intent on September 18, 2025, and later signed a definitive merger agreement on October 27, 2025, to acquire First Foundation Inc.
Seeking Alpha • Jan 27

First Foundation: Limited Progress And Deterioration Justify A Downgrade

Summary First Foundation (FFWM) faces ongoing profitability declines, shrinking deposits, and increased debt, prompting a downgrade to ‘sell’. Despite modest recent improvements, FFWM’s asset quality and credit metrics remain among the worst in its peer group. Heavy exposure to variable-rate loans may pressure net interest margins further if rates decline, limiting upside. FFWM trades below peers on price-to-book, but persistent losses and asset quality concerns outweigh valuation appeal. Read the full article on Seeking Alpha
Narrative Update • Aug 18

Critical Growth And Diversification Poised To Skyrocket Future Revenues And Margins

Despite a substantial increase in projected revenue growth and a sharply reduced future P/E multiple, the consensus analyst price target for First Foundation has been materially lowered from $7.75 to $6.50. What's in the News The company executed no share repurchases in Q2 2025; total buyback completed under the 2022 program stands at 191,998 shares for $3.48 million (0.34%).
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New Narrative • Sep 26

Critical Growth And Diversification Poised To Skyrocket Future Revenues And Margins

First Foundation's capital raise aims to support growth, enabling geographic expansion and improving earning asset mix for future revenue and net interest margin enhancement.
Seeking Alpha • May 29

First Foundation: Taking A More Cautious Approach Due To Deterioration

Summary First Foundation has faced challenges including a decline in profitability, rising debt, and declining deposits. The institution's net interest income and net income have both significantly decreased as well. Shares of First Foundation are trading at a cheap valuation relative to net asset value, but the company's overall health and profitability metrics are concerning. Read the full article on Seeking Alpha
Analysis Article • Apr 27

Revenue Downgrade: Here's What Analysts Forecast For First Foundation Inc. (NYSE:FFWM)

Market forces rained on the parade of First Foundation Inc. ( NYSE:FFWM ) shareholders today, when the analysts...
Seeking Alpha • Feb 03

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

Summary First Foundation, a small bank based in Dallas, Texas, is facing trouble due to mismanagement of capital allocation in 2022. The bank's loan portfolio has declined, with the loan-to-deposit ratio at 95% and deposits struggling to increase. The bank's growth prospects are limited, but C&I loans and the repricing of multifamily loans could provide some opportunities. Read the full article on Seeking Alpha
Seeking Alpha • Oct 16

First Foundation: A Steep Discount For A Risky Prospect

Summary First Foundation is a cheap financial services company trading at low multiples and a significant discount to book value. The company operates a bank catering to small and medium-sized businesses, with a focus on loans secured by multifamily properties. Despite a decline in net interest income and profits, the company has seen growth in deposits and has low uninsured deposit exposure. It does appear to be a risky prospect, but the cheap share price indicates great upside potential as well. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Tom Shafer's remuneration changed compared to First Foundation's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025n/an/a

-US$155m

Sep 30 2025n/an/a

-US$161m

Jun 30 2025n/an/a

-US$97m

Mar 31 2025n/an/a

-US$86m

Dec 31 2024US$4mUS$133k

-US$92m

Compensation vs Market: Tom's total compensation ($USD4.01M) is above average for companies of similar size in the US market ($USD2.41M).

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

CEO

Tom Shafer (66 yo)

1.3yrs
Tenure
US$4,013,755
Compensation

Mr. Thomas C. Shafer, also known as Tom, is Chief Executive Officer and Board Member of First Foundation Inc. from November 21, 2024. He is Chief Executive Officer and Director of First Foundation Bank fro...

Leadership Team

NamePositionTenureCompensationOwnership
Thomas Shafer
CEO & Board Member1.3yrsUS$4.01mno data
Simone Lagomarsino
President1.7yrsUS$872.58k0.21%
$ 990.5k
James Britton
Executive VP & CFO2.6yrsUS$650.00k0.071%
$ 341.1k
John Hakopian
President & Co-Chief Investment Officer of First Foundation Advisorsno dataUS$1.08m0.85%
$ 4.1m
Parham Medhat
EVP & COOless than a yearno datano data
Adriano Darmawan
CTO & Executive VPno datano datano data
Erica Dorsett
Executive VP2.3yrsno datano data
Colin Kapp
Director of Marketingno datano datano data
Jody Valdivia
Executive VP & Chief Human Resources Officerless than a yearno datano data
Pamela Cohen
Senior Vice President of Philanthropy Servicesless than a yearno datano data
Kristoffer Lynds
Senior Vice President of Commercial Real Estate10.6yrsno datano data
Shelly O'Byrne
Executive VP & Director of Trust Services9.3yrsno datano data
1.7yrs
Average Tenure
57yo
Average Age

Experienced Management: FFWM's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Thomas Shafer
CEO & Board Member1.3yrsUS$4.01mno data
Simone Lagomarsino
President1.5yrsUS$872.58k0.21%
$ 990.5k
Jacob Sonenshine
Independent Director19.2yrsUS$143.33k0.12%
$ 596.4k
C. Parker
Independent Director1.3yrsUS$23.33kno data
Max Briggs
Chairman & Lead Independent Director13.6yrsUS$160.00k0.091%
$ 437.0k
Mitchell Rosenberg
Independent Director19.2yrsUS$140.00k0.090%
$ 430.3k
Henchy Enden
Independent Director1.5yrsno datano data
Elizabeth Pagliarini
Independent Director6.8yrsUS$140.00k0.047%
$ 223.2k
Sam Edelson
Independent Director1.5yrsUS$70.00kno data
Benjamin Mackovak
Independent Director1.5yrsUS$70.00kno data
1.5yrs
Average Tenure
56.5yo
Average Age

Experienced Board: FFWM's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/31 17:33
End of Day Share Price 2026/03/31 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 6 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen MossB. Riley Securities, Inc.
Gary TennerD.A. Davidson & Co.
David ChiaveriniJefferies LLC