UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 10, 2017
FIRST FOUNDATION INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-36461 |
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20-8639702 |
(State or other jurisdiction of incorporation) |
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(Commission |
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(IRS Employer Identification Number) |
18101 Von Karman Avenue, Suite 700
Irvine, California 92612
(Address of Principal Executive Offices) (Zip Code)
(949) 202-4160
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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On November 13, 2017, First Foundation Inc. (the “Company”) announced that it has completed its acquisition of Community 1st Bancorp and its wholly-owned subsidiary, Community 1st Bank, effective as of November 10, 2017.
A copy of the press release announcing the consummation of the acquisition is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
Exhibit No. |
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Description |
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99.1 |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FIRST FOUNDATION INC. |
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Date: November 13, 2017 |
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By: |
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/s/ JOHN M. MICHEL |
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John M. Michel Executive Vice President & Chief Financial Officer |
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Exhibit 99.1
First Foundation Completes Acquisition
of Community 1st Bancorp
IRVINE, CA – November 13, 2017 – First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank (collectively “First Foundation”), announced that it has completed its acquisition, effective as of November 10, 2017, of Community 1st Bancorp and its wholly-owned subsidiary, Community 1st Bank, a California state-chartered bank with offices located in Auburn, Sacramento, and Roseville California and $411 million in total assets as of September 30, 2017.
“We are excited to announce the completion of the acquisition of Community 1st Bank,” said Scott F. Kavanaugh, CEO, First Foundation Inc. “This was a well-aligned partnership between two banks that share a commitment to providing excellent client service as well as giving back to its community, and we look forward to serving our new clients.”
Under the terms of the merger agreement, each share of Community 1st Bancorp common stock was converted into the right to receive 0.453 shares of FFWM common stock.
About First Foundation
First Foundation, a financial institution founded in 1990, provides private wealth management, personal banking, and business banking. The Company has offices in California, Nevada, and Hawaii with headquarters in Irvine, California. For more information, please visit www.firstfoundationinc.com.
Contact:
First Foundation Inc.
Tyler Resh
Director of Marketing and Strategy
949-202-4131
tresh@ff-inc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements relating to our acquisition of Community 1st Bancorp, are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the following factors: the expected cost savings, synergies and other financial benefits from the acquisition might not be realized within the expected time frames or at all; local, regional, national and international economic and market conditions and events and the impact they may have us and our customers, assets, and liabilities; and our success at managing the risks involved in the foregoing items and all other factors set forth in our public reports, including our Annual Report on Form 10-K for the year ended December 31, 2016, and particularly the discussion of risk factors within that document.
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First Foundation undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
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