First Foundation Acquisition, Valuation & Financials

First Foundation was acquired by Firstsun Capital Bancorp for $785M in October 2025, a 1.6x multiple on $481M of revenue.

First Foundation acquisition price

$785M

Acquired by Firstsun Capital Bancorp · Oct 2025

First Foundation revenue at acquisition

$481M

Last twelve months · Oct 2025

First Foundation revenue multiple at acquisition

1.6x

EV/Revenue · Oct 2025

Cumulative funding First Foundation raised

$6M

across 1 funding round

First Foundation Overview

About First Foundation

First Foundation Inc is a financial services company. It is engaged in providing investment management and financial planning services for high-net-worth individuals, retirement plans, charitable institutions, and private foundations. The company focuses on segments namely Banking and Wealth Management. It also offers loans to individuals and entities that own and operate multifamily residential and commercial real estate properties as well as business banking products and services to small to moderate-sized businesses, professional firms, and consumer banking products and services to individuals.


Founded

1985

HQ

United StatesLos Angeles, CA

Website

ff-inc.com

Status

Acquired

Customer focus

B2B & B2C

Revenue model

Services, Product sales

Revenue

$481M (Oct 2025)

Valuation

$785M (acquired Oct 2025)

First Foundation Acquisition

First Foundation was acquired by Firstsun Capital Bancorp for $785M on 27 October 2025.

The acquisition price implies a 1.6x revenue multiple on $481M of revenue.

Before the acquisition First Foundation had raised $6M across 1 funding round.

FirstSun Capital Bancorp, a Denver-based financial holding company operating Sunflower Bank and First National 1870 across seven states with $8.5 billion in assets, agreed to acquire First Foundation Inc., an Irvine, California-headquartered bank with $12.6 billion in assets offering personal banking, business banking, and private wealth management services across California, Nevada, Florida, Texas, and Hawaii. The all-stock transaction was announced on October 27, 2025, with a deal value of approximately $785 million based on FirstSun's closing stock price of $40.44, under which First Foundation shareholders will receive 0.16083 shares of FirstSun common stock per share owned, while warrant holders receive $17.5 million in aggregate cash consideration. The merger creates a combined regional bank with roughly $17 billion in assets, adds 18 California branches to FirstSun's footprint, and is expected to be more than 30% accretive to 2027 earnings per share with a 3.3-year earnback period, with five First Foundation directors joining FirstSun's board upon completion. The acquisition follows FirstSun's failed 2024 attempt to acquire Seattle-based HomeStreet Bank and comes after the two companies had engaged in merger discussions in 2022 and 2023 before talks stalled; the Office of the Comptroller of the Currency approved the bank subsidiary merger on February 25, 2026, and FirstSun and First Foundation expect to close the transaction on April 1, 2026, pending Federal Reserve approval and stockholder votes scheduled for February 27, 2026.

First Foundation acquisition details
AcquirerDateTypePriceEV/Revenue
27 Oct 2025Strategic M&A$785M1.6x

First Foundation as a Public Company

First Foundation traded as MUN: 8F1 before it was taken private. Its acquisition was announced in October 2025. January 2026 is its last month on record as a listed company, with a market cap of $521M and an enterprise value of $521M.

Last-twelve-month revenue was $237M, and the shares traded at 2.2x EV/Revenue.

Over the 4 years before that, its market cap fell from $1.5B in January 2022 to $521M, while revenue fell from $309M to $237M.

First Foundation market cap while listed

First Foundation EV/Revenue (LTM) while listed

First Foundation financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EV/Revenue
Jan 2026$521M$237M2.2x
Jan 2025$424M$238M1.8x
Jan 2024$538M$252M2.1x
Jan 2023$875M$371M2.4x
Jan 2022$1.5B$309M4.8x

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month First Foundation traded.

First Foundation Funding History

First Foundation has raised a total of $6M across 1 funding round.

First Foundation funding rounds

First Foundation funding rounds
DateStageRaised
Dec 2013Series A$6M

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Acquisitions by First Foundation

First Foundation has acquired 3 companies to date.

Last acquisition by First Foundation was on June 3rd 2021. First Foundation acquired First Florida Integrity Bank for $295M.


Latest Acquisitions by First Foundation

First Florida Integrity Bank
Premier Business Bank
Community 1st Bank
Description
First Florida Integrity Bank is a Florida community bank offering personal checking, savings, mortgages, auto loans, and commercial real estate financing. Headquartered in Naples, it maintains branches along the Gulf Coast serving Southwest Florida markets.
Premier Business Bank is a Los Angeles-headquartered community bank offering personal checking, savings, CDs, IRAs, and business loans through branches in Rolling Hills Estates, Palos Verdes Estates, Torrance, Big Bear Lake, Running Springs, and Lucerne Valley in California. Its divisions include Premier Bank of Palos Verdes and First Mountain Bank under parent PBB Bancorp.
Community 1st Bank is a locally owned community bank founded in 2006 in Beaverton, Oregon. It provides personalized banking services such as business loans, agricultural financing, and consumer products to clients in Washington County, prioritizing Main Street partnerships over Wall Street influences.
HQ CountryUnited StatesUnited StatesUnited States
HQ City
-
Los Angeles, CA
Seattle, WA
Deal Date3 Jun 202119 Dec 201715 Jun 2017
Valuation$295M$106M$50M
EV/Revenue
EV/EBITDA

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First Foundation Competitors

First Foundation competitors include listed companies like Thurgauer Kantonalbank, Alandsbanken, Basellandschaftliche Kantonalbank and Close Brothers Group, and private ones like United Bank and China Wanxiang Holding.

Public and private companies comparable to First Foundation
CompanyHQStatusRevenueValuationRevenue Multiple
Thurgauer KantonalbankSwitzerlandSwitzerlandPublicly listed$543M$786M1.4x
AlandsbankenFinlandFinlandPublicly listed$252M$788M-
Basellandschaftliche KantonalbankSwitzerlandSwitzerlandPublicly listed$502M$792M-
Close Brothers GroupUnited KingdomUnited KingdomPublicly listed$1B$793M0.9x
United BankIndiaKolkataPrivate-$759M-
China Wanxiang HoldingChinaHangzhouPrivate-$819M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Thurgauer Kantonalbank$543M-1.4x1.4x--
Alandsbanken$252M-3.1x---
Basellandschaftliche Kantonalbank$502M-1.6x---
Close Brothers Group$1B-0.8x0.9x--
Judo Bank$368M-2.2x2.1x--
Southern Missouri Bancorp$201M-4.0x3.9x--
Shore Bancshares$225M-3.4x3.2x--
Grupo Supervielle$751M$116M1.0x0.9x6.6x3.7x

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Common questions about First Foundation

When was First Foundation founded?First Foundation was founded in 1985.
Where is First Foundation headquartered?First Foundation is headquartered in Los Angeles, CA, United States.
Is First Foundation publicly listed?No, First Foundation was acquired by Firstsun Capital Bancorp in October 2025.
Who acquired First Foundation?First Foundation was acquired by Firstsun Capital Bancorp in October 2025.
How much was First Foundation acquired for?First Foundation was acquired for $785M in October 2025, a 1.6x revenue multiple.
How much funding has First Foundation raised?First Foundation has raised $6M across 1 funding round.
What was First Foundation's last funding round?First Foundation's last funding round was a $6M Series A in December 2013.
Which companies are comparable to First Foundation?Companies comparable to First Foundation include Thurgauer Kantonalbank, Alandsbanken, Basellandschaftliche Kantonalbank, Close Brothers Group, United Bank and China Wanxiang Holding.
What was First Foundation's market cap before the acquisition?First Foundation had a market cap of $521M in January 2026, its last month on record as a listed company, trading at 2.2x EV/Revenue.
What was First Foundation's revenue as a public company?First Foundation's last reported twelve-month revenue was $237M (January 2026).
How many companies has First Foundation acquired?First Foundation has acquired 3 companies, including First Florida Integrity Bank, Premier Business Bank and Community 1st Bank.
What was the largest acquisition by First Foundation?The $295M acquisition of First Florida Integrity Bank in June 2021 is the largest acquisition First Foundation has made to date.

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