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FFWM-News
FFWM-Events
FirstSun Capital and First Foundation Merger Approved
FirstSun Capital Bancorp (FSUN) and First Foundation Inc. (FFWM) jointly announced that the Office of the Comptroller of the Currency has approved the merger of their respective bank subsidiaries, Sunflower Bank, N.A. and First Foundation Bank, with Sunflower Bank, N.A continuing as the surviving bank. Completion of the merger of First Foundation with and into FirstSun remains subject to receipt of regulatory approval from the Board of Governors of the Federal Reserve System, approval by the stockholders of FirstSun and First Foundation at their respective stockholder meetings to be held on February 27, 2026, and the satisfaction or waiver of other closing conditions. The merger is currently expected to be completed early in the second quarter of 2026.
First Foundation Q4 Revenue Flat, CEO Emphasizes Merger Plans
Reports Q4 revenue $64.68M vs. $64.68M a year ago. Adjusted tangible book value per common share was $8.10 vs. $8.16 last quarter and $9.36 a year ago. Q4 et interest margin was 1.36% vs. 1.60% for the prior quarter. CEO Thomas Shafer said, "Q4 was shaped by our announcement in October of the pending merger with FirstSun Capital Bancorp. Our entire team has been focused on integration planning and preparing to make this next chapter an outstanding experience for our clients, team members, and shareholders. The announcement gave us the ability to accelerate actions we have previously discussed for our balance sheet transformation. These actions have significantly reduced our reliance on high-cost funding and reduced our loan-to-deposit ratio to 75.3%. We are confident as we look forward in our ability to deliver first-quartile performance as we continue serving some of the best markets in the country with a full suite of complimentary products and services." CFO Jamie Britton said, "2025 brought significant change to First Foundation's balance sheet and risk profile. Meaningful progress towards selling $1.9B of our multifamily loan portfolio reduced our CRE concentration below 350%; continued focus on reducing our high-dollar, rate-sensitive deposit balances improved our funding profile and in conjunction with targeted hedging strategies brought our structural interest rate risk positioning in line with our peers; our ACL improved to 1.39% of loans; and total risk-based capital ended the year at 15.51%..."
First Foundation announces Q3 adjusted EPS of $1.77, exceeding consensus by 2 cents
Reports Q3 revenue $63.6M, consensus $61.47M. Tangible book value per common share was $8.16 as of September 30, 2025, compared to $9.34 as of June 30, 2025. NIM was 1.60% for the quarter, compared to 1.68% for the prior quarter and 1.50% for the year-ago quarter. Common equity tier 1 risk-based capital ratio was 10.22% from 11.08% in the previous quarter. "Earlier this week we announced our merger with FirstSun Capital Bancorp, signaling an important new chapter for our Company, our team members, customers, clients and shareholders. Immediately, we will become a strong, first-quartile regional bank with $17B in assets, serving many of the fastest growing markets in the United States and offering a suite of complimentary products and services designed to serve our customers," said CEO Thomas Shafer. "Our financial results for Q3 of 2025 underscore the progress we have made to strengthen our company, and we are thrilled about the continued improvements our partnership with the FirstSun team will provide."
FirstSun Capital and First Foundation to Merge in All-Stock Deal
FirstSun Capital (FSUN), the holding company of Dallas-based Sunflower Bank, N.A. and First Foundation (FFWM), a financial services company with two wholly-owned operating subsidiaries, jointly announced that they have entered into a definitive merger agreement, which was unanimously approved by the respective board of directors of both FirstSun and First Foundation. Under the terms of the Merger Agreement, First Foundation will merge with and into FirstSun, with FirstSun continuing as the surviving company. Immediately following the Merger, First Foundation Bank will merge with and into Sunflower Bank, with Sunflower Bank continuing as the surviving bank. The combined holding company and bank will operate under the FirstSun and Sunflower Bank names and brands following closing of the transaction, respectively. Under the terms of the Merger Agreement, the companies will combine in an all-stock transaction in which First Foundation common and preferred stockholders will receive 0.16083 of a share of FirstSun common stock for each share of First Foundation common stock owned on a fully converted basis. Additionally, First Foundation's warrant holders will exercise their warrants early and receive FirstSun common stock in the merger and also receive additional cash consideration totaling $17.5 million in the aggregate. The aggregate transaction value, inclusive of the cash consideration being paid to warrant holders, is estimated at $785 million based on FirstSun's closing price as of October 24, 2025. FirstSun stockholders will own 59.5% and First Foundation stockholders will own 40.5% of the combined company following the merger.
First Foundation Appoints Dean Glassberg as Chief Credit Officer
First Foundation is pleased to announce the appointment of Dean Glassberg as Executive Vice President, Chief Credit Officer of FFB, effective October 14, 2025. In this role, Glassberg will lead FFB's credit strategy, risk governance, underwriting standards, portfolio monitoring, and credit operations, partnering closely with senior leadership to support disciplined growth.
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