First Foundation Inc 2024年度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Actof 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports); and (2)has been subject to suchfiling requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b) .☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of February21, 2025, there were82,365,388shares of registrant’s common stock outstanding. Except as otherwise stated herein, PartIII of the Form10-K is incorporated by reference from the Registrant’s Definitive Proxy Statement forits 2025 Annual Meeting of Stockholders, which is expected to be filed with the Commission on or before April 29, 2025. FIRST FOUNDATIONINC. ANNUAL REPORT ON FORM10-KFOR THEYEAR ENDED DECEMBER31, 2024 TABLE OF CONTENTS PageNo.FORWARD-LOOKING STATEMENTSii Item1Business1Item1A Risk Factors21Item1B Unresolved Staff Comments36Item 1CCybersecurity36Item2Properties37Item3Legal Proceedings37Item4Mine Safety Disclosures37 Item5Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases ofEquity Securities37Item6Reserved40Item7Management’s Discussion and Analysis of Financial Condition and Results ofOperations41Item7A Quantitative and Qualitative Disclosures About Market Risk70Item8Financial Statements and Supplementary Data71Item9Changes in and Disagreements with Accountants on Accounting and FinancialDisclosures133Item9A Controls and Procedures133Item9B Other Information134Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections134 PARTIII Item10 Directors, Executive Officers and Corporate Governance135Item11 Executive Compensation135Item12 Security Ownership of Certain Beneficial Owners and Management and RelatedStockholderMatters135Item13 Certain Relationships and Related Transactions, and Director Independence135Item14 Principal Accountant Fees and Services135 Item15 Exhibit and Financial Statement Schedules135Item16 Form10-K Summary136 FORWARD-LOOKING STATEMENTS In addition to historical information, this report contains forward-looking statements withinthe meaning of Section27A of the Securities Act of 1933, as amended (the “Securities Act”) andSection21E 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 solelyto historical matters. However, our actual results and financial performance in the future will beaffected by known and currently unknown risks, uncertainties and other factors that may cause ouractual results or financial performance in the future to differ materially from the results or financialperformance that may be expressed, predicted or implied by such forward-looking statements. Suchrisks, uncertainties and other factors include, among others, those set forth below inItem1A, RiskFactors, and readers of this report are urged to read the cautionary statements contained in thatsection of this report. In some cases, you can identify forward-looking statements by words like“may,”“will,”“should,”“could,”“believes,”“i