Leading Independent Proxy Advisory Firm ISS Recommends that First Foundation Stockholders Vote FOR ALL Ten of the Company’s Highly Qualified Director Nominees

First Foundation Inc. (NASDAQ: FFWM) (“First Foundation” or the “Company”), a financial services company with two wholly owned operating subsidiaries, First Foundation Advisors (“FFA”) and First Foundation Bank (“FFB”), today announced that Institutional Shareholder Services (“ISS”), a leading proxy advisory firm, has recommended that First Foundation stockholders vote for ALL of First Foundation’s ten highly qualified director nominees at the upcoming Annual Meeting of Stockholders scheduled for Tuesday, June 27, 2023.

In its recommendation, ISS concludes that Driver (“the dissident”) has not made a compelling case for change¹:

• “From an operational performance standpoint, the company had delivered strong top-line and earnings growth over the last five years, mirrored by steady growth in assets, deposits, and loans, while maintaining a strong credit profile.”
• “The company has a track record of long-term value creation and operational performance. While recent performance has been acutely impacted by the banking sector crisis…the company seemingly took decisive actions to respond to the crisis and appears to be better positioned in the current rate environment.”
• “The company has taken a proactive approach in response to the rising rate environment.”
• “In light of these factors, the dissident has not presented a particularly compelling case, from an operational perspective, that change is warranted at this time.”

ISS reports that Ms. Ball does not possess the necessary qualifications to serve as a director of a publicly traded financial institution and that Driver’s search for a nominee was flawed:

• “Given [Ms. Ball’s] lack of relevant regional banking or board experience, this does not appear to be the opportune time for her to learn the ropes of serving as a public company director.”
• “[T]he dissident’s own search process also appears to have lacked necessary rigor, yielding a curious choice of two self-described best friends (a fact that was apparently not disclosed during the nomination process) who do not have obviously relevant industry or board experience.”

ISS confirms that the Company’s recent addition to the Board, Gabriel Vazquez, adds beneficial expertise to the Board: