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FirstSun to Acquire First Foundation

Creates bank with $17B in assets

First Foundation Inc., which has several top executives who work at its Irvine office, is being acquired by FirstSun Capital Bancorp, parent of Dallas-based Sunflower Bank, in an all-stock deal worth $785 million.

FirstSun stockholders will own 59.5% and First Foundation stockholders will own 40.5% of the combined company following the merger. The combined holding company and bank will operate under the FirstSun and Sunflower Bank names and brands following closing of the transaction, respectively.

“This merger strengthens our ability to deliver exceptional financial services and expands our reach across key markets,” First Foundation Chief Executive Tom Shafer said in a statement.

After the announcement, shares of First Foundation, which is based in Dallas, rose 4.7% to $5.81. They had closed the day at $5.55 and a $457 million market cap (NYSE: FFWM). Shares of FirstSun fell 1.9% to $39.45; the company has a $1.1 billion market cap.

For more information, see the Nov. 3 print issue of the Orange County Business Journal.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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