Private company
First Foundation Inc.
American state commercial bank, incorporated in California. Summary from the record
Last updated Oct 19, 2026.
Overview
- IndustryState Commercial Banks1
- HeadquartersIrving, Texas1
- Incorporated inCA2
- Business address5221 N. O'Connor Blvd., Suite 1378, Irving, Tx 750392
- Filer categoryAccelerated filer2
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In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are those that predict or describe future events or trends or that do not relate solely to historical matters. However, our actual results and financial performance in the future will be affected by known and currently unknown risks, uncertainties and other factors that may cause our actual results or financial performance in the future to differ materially from the results or financial performance that may be expressed, predicted or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others, those set forth below in Item 1A, Risk Factors , …3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Income tax100¢$83.6M
Out of $34.4M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $36.0M5 | $38.8M6 | $35.3M4 | $36.2M4 | $34.4M4 |
| Operating expenses | $236.9M5 | ||||
| Interest | $13.9M5 | $85.2M5 | $371.4M5 | ||
| Income before tax | $151.8M5 | $149.8M6 | -$200.1M4 | -$137.4M4 | -$71.5M4 |
| Income tax | $42.3M5 | $39.3M6 | -$1.0M4 | -$45.0M4 | $83.6M4 |
| Net income | $109.5M5 | $110.5M6 | -$199.1M4 | -$92.4M4 | -$155.2M4 |
| Earnings per share | $2.425 | $1.966 | -$3.534 | -$1.414 | -$1.884 |
| Earnings per share (diluted) | $2.415 | $1.966 | -$3.534 | -$1.414 | -$1.884 |
| Shares (weighted, basic) | 45.3M shares5 | 56.4M shares6 | 56.4M shares4 | 65.6M shares4 | 82.5M shares4 |
| Shares (weighted, diluted) | 45.5M shares5 | 56.5M shares6 | 56.4M shares4 | 65.6M shares4 | 82.5M shares4 |
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash | $1.1B9 | $656.5M5 | $1.3B6 | $1.0B4 | $1.6B4 |
| Property, plant and equipment | $37.9M9 | $36.1M5 | $39.9M6 | $35.8M4 | $34.7M4 |
| Goodwill | $215.3M5 | ||||
| Intangible assets | $6.6M5 | $4.9M6 | $3.6M4 | $2.4M4 | |
| Total assets | $10.2B9 | $13.0B5 | $13.3B6 | $12.6B4 | $11.9B4 |
| Total liabilities | $9.1B9 | $11.9B5 | $12.4B6 | $11.6B4 | $11.0B4 |
| Retained earnings | $341.0M9 | $426.7M5 | $218.6M6 | $125.0M4 | -$30.1M4 |
| Shareholders’ equity | $1.1B6 | $1.1B4 | $925.3M4 | $1.1B4 | $912.6M4 |
| Shares outstanding | 56.4M shares10 | 56.5M shares6 | 82.4M shares4 | 82.9M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash from operations | $96.9M5 | $101.5M6 | $8.0M4 | -$8.7M4 | -$31.9M4 |
| Depreciation and amortization | $3.3M5 | $4.0M6 | $4.4M4 | $4.8M4 | $4.4M4 |
| Stock-based compensation | $2.8M5 | $3.5M6 | $1.7M4 | $2.0M4 | $5.3M4 |
| Capital spending | $3.2M5 | $4.6M6 | $8.2M4 | $2.7M4 | $3.3M4 |
| Free cash flow | $93.7M | $96.9M | -$225.0K | -$11.4M | -$35.2M |
| Cash from investing | -$79.4M5 | -$3.2B6 | $132.8M4 | $287.4M4 | $1.2B4 |
| Dividends paid | $16.2M5 | $24.8M6 | $9.0M4 | $1.1M4 | |
| Share buybacks | $1.7M5 | $4.6M6 | $538.0K4 | $149.0K4 | $433.0K4 |
| Cash from financing | $474.5M5 | $2.7B6 | $529.4M4 | -$589.1M4 | -$581.0M4 |
Leadership
Who has led First Foundation Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerThomas C. Shafer Nov 22, 2024 to now11
- Chief executive officerKevin L. Thompson Jun 8, 2020 to Jun 8, 202012
- Chief executive officerScott F. Kavanaugh Dec 16, 2013 to Jun 8, 202013
- ChairUlrich E. Keller Jr. Dec 16, 2013 to Mar 4, 202414
- PresidentSimone Lagomarsino Jul 11, 2024 to now15
- PresidentJohn Hakopian Feb 6, 2015 to May 20, 201516
- PresidentDavid S. Depillo May 20, 2015 to Feb 25, 202217
- Chief financial officerJames Britton Aug 23, 2023 to now18
- Chief financial officerAmy Djou Nov 28, 2022 to Feb 28, 202319
- Chief financial officerKevin L. Thompson Jun 9, 2020 to Nov 16, 202220
- Chief financial officerJohn Michel Dec 16, 2013 to Mar 18, 202021
- Chief operating officerChristopher M. Naghibi Dec 14, 2022 to now22
- Chief operating officerLindsay A. Lawrence Nov 22, 2019 to Feb 25, 202223
- Chief operating officerDavid Rahn Dec 16, 2013 to Dec 16, 201324
Board members and other officers (25)
- EVP, Chief Credit OfficerDean Glassberg Oct 20, 2025 to now25
- EVP, Chief Operations OfficerParham Medhat Nov 10, 2025 to now26
- Chief Banking OfficerHugo J. Nuno Dec 14, 2022 to now27
- PRES FIRST FOUNDATION ADVISORSJohn Hakopian Dec 16, 2013 to Dec 16, 201328
- Board memberSimone Lagomarsino Feb 21, 2025 to now29
- Board memberHenchy R. Enden Sep 9, 2024 to Sep 9, 202430
- Board memberSam Edelson Sep 9, 2024 to now31
- Board memberBenjamin Mackovak Sep 10, 2024 to now32
- Board memberThomas C. Shafer Nov 22, 2024 to now11
- Board memberGabriel Vazquez V. Apr 28, 2023 to Feb 21, 202433
- Board memberGary L. Tice Dec 22, 2021 to Jan 12, 202334
- Board memberElizabeth A. Pagliarini Jun 5, 2019 to now35
- Board memberDiane M. Rubin Jun 13, 2019 to Feb 21, 202436
- Board memberMartha N. Corbett Mar 1, 2018 to Feb 28, 201937
- Board memberGerald L. Larsen Dec 16, 2013 to Feb 27, 201838
- Board memberHenri Tchen Dec 16, 2013 to Dec 16, 201339
- Board memberJacob Sonenshine Dec 16, 2013 to now40
- Board memberJames G. Brakke Dec 16, 2013 to May 17, 201941
- Board memberJohn Hakopian Dec 16, 2013 to now28
- Board memberMax Briggs Dec 16, 2013 to now42
- Board memberMichael A. Criste Dec 16, 2013 to Dec 16, 201343
- Board memberMitchell M. Rosenberg Dec 16, 2013 to now44
- Board memberScott F. Kavanaugh Dec 16, 2013 to now13
- Board memberVictoria Collins Dec 16, 2013 to Aug 15, 201645
- Board memberWarren D. Fix Dec 16, 2013 to May 17, 201946
Former names
- KELLER FINANCIAL GROUPSep 27, 2007 to Sep 27, 20072
Timeline
Filings
402 filings to the SEC since October 2021: 7 annual reports, 13 quarterly reports, 86 major events, 162 insider forms, 30 large holders, 104 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- Apr 13, 202615-12G EDGAR
- Apr 3, 2026SCHEDULE 13D/A EDGAR
- Apr 1, 2026EFFECT EDGAR
- Apr 1, 2026S-8 POS EDGAR
- Apr 1, 2026S-8 POS EDGAR
- Apr 1, 2026S-8 POS EDGAR
- Apr 1, 2026S-8 POS EDGAR
- Apr 1, 2026POS AM EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 1, 20264 OWNERSHIP DOCUMENT EDGAR
The 402 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
20 open-market trades by officers, directors and large owners since October 2021: 13 buys and 7 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 29, 2024 | KELLER ULRICH E. JRChairman | Sale | 25,000 | $8.16 | $204.0K | Form 4 |
| Dec 15, 2023 | KELLER ULRICH E. JRChairman | Sale | 30,000 | $8.90 | $267.0K | Form 4 |
| May 11, 2023 | Lake David G.Director | Buy | 2,000 | $3.99 | $8.0K | Form 4 |
| May 9, 2023 | Lake David G.Director | Buy | 2,000 | $4.19 | $8.4K | Form 4 |
| May 8, 2023 | PAGLIARINI ELIZABETH A.Director | Buy | 5,610 | $4.35 | $24.4K | Form 4 |
| May 5, 2023 | Rubin Diane M.Director | Buy | 2,000 | $4.65 | $9.3K | Form 4 |
| May 4, 2023 | SONENSHINE JACOBDirector | Buy | 8,000 | $4.08 | $32.6K | Form 4 |
| May 4, 2023 | Lake David G.Director | Buy | 6,000 | $4.07 | $24.4K | Form 4 |
| May 3, 2023 | BRIGGS MAXDirector | Buy | 10,000 | $4.69 | $46.9K | Form 4 |
| Mar 15, 2023 | HAKOPIAN JOHNPresident, FFA | Sale | 29,857 | $9.27 | $276.8K | Form 4 |
| Mar 14, 2023 | HAKOPIAN JOHNPresident, FFA | Sale | 56,143 | $9.34 | $524.4K | Form 4 |
| Mar 14, 2023 | Naghibi Christopher M.Chief Operating Officer | Buy | 208 | $9.53 | $2.0K | Form 4 |
| Mar 14, 2023 | KAVANAUGH SCOTT FChief Executive Officer | Buy | 2,000 | $9.61 | $19.2K | Form 4 |
| Mar 13, 2023 | HAKOPIAN JOHNPresident, FFA | Sale | 100,000 | $7.96 | $796.0K | Form 4 |
| Feb 28, 2023 | Djou AmyChief Financial Officer | Sale | 3,172 | $15.15 | $48.1K | Form 4 |
| Feb 2, 2023 | KELLER ULRICH E. JRChairman | Sale | 25,000 | $16.36 | $409.0K | Form 4 |
| Nov 29, 2022 | KAVANAUGH SCOTT FChief Executive Officer | Buy | 7,200 | $13.84 | $99.6K | Form 4 |
| Nov 28, 2022 | PAGLIARINI ELIZABETH A.Director | Buy | 5,471 | $13.71 | $75.0K | Form 4 |
| Apr 29, 2022 | PAGLIARINI ELIZABETH A.Director | Buy | 1,000 | $22.39 | $22.4K | Form 4 |
| Feb 7, 2022 | Rubin Diane M.Director | Buy | 1,000 | $26.53 | $26.5K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- North Reef Capital Management LPSCHEDULE 13G/A, 5 filings Jan 15, 2025 to Aug 14, 202647
- CANYON CAPITAL ADVISORS LLCSCHEDULE 13D/A, 3 filings Nov 14, 2024 to Apr 3, 202648
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 13, 2024 to Mar 26, 202649
- FMR LLCSCHEDULE 13G/A, 5 filings Feb 9, 2022 to Nov 5, 202550
- Azora Capital LPSCHEDULE 13G/A, 2 filings Feb 14, 2025 to May 15, 202551
- Strategic Value Investors LPSCHEDULE 13G/A, 2 filings Feb 12, 202552
- BlackRockSCHEDULE 13G/A, 1 filing Feb 5, 202553
- STRATEGIC VALUE BANK PARTNERS LLCSC 13D/A, 2 filings Oct 8, 2024 to Oct 15, 202454
- GMT CAPITAL CORPSC 13G/A, 2 filings Jan 19, 2023 to Feb 13, 202455
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 6
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- 8
- 9
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- 11
- 12
- 13
- 14SEC EDGARUlrich E. Keller Jr., Chair
- 15SEC EDGARSimone Lagomarsino, President
- 16SEC EDGARJohn Hakopian, President
- 17SEC EDGARDavid S. Depillo, President
- 18
- 19SEC EDGARAmy Djou, Chief financial officer
- 20
- 21SEC EDGARJohn Michel, Chief financial officer
- 22
- 23
- 24SEC EDGARDavid Rahn, Chief operating officer
- 25
- 26
- 27SEC EDGARHugo J. Nuno, Chief Banking Officer
- 28
- 29SEC EDGARSimone Lagomarsino, Board member
- 30SEC EDGARHenchy R. Enden, Board member
- 31SEC EDGARSam Edelson, Board member
- 32SEC EDGARBenjamin Mackovak, Board member
- 33SEC EDGARGabriel Vazquez V., Board member
- 34SEC EDGARGary L. Tice, Board member
- 35
- 36SEC EDGARDiane M. Rubin, Board member
- 37SEC EDGARMartha N. Corbett, Board member
- 38SEC EDGARGerald L. Larsen, Board member
- 39SEC EDGARHenri Tchen, Board member
- 40SEC EDGARJacob Sonenshine, Board member
- 41SEC EDGARJames G. Brakke, Board member
- 42SEC EDGARMax Briggs, Board member
- 43SEC EDGARMichael A. Criste, Board member
- 44SEC EDGARMitchell M. Rosenberg, Board member
- 45SEC EDGARVictoria Collins, Board member
- 46SEC EDGARWarren D. Fix, Board member
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