Company: FFWM
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001104659-25-109187
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Company: First Foundation Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part II, Item 1A
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ITEM 1A.RISK FACTORS

We disclosed certain risks and uncertainties that we face under the caption “Risk Factors” in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2024, which we filed with the SEC on March 17, 2025. There have been no material changes in these risk factors from those disclosed in such Annual Report on Form 10-K, except as described below.

Risks Relating to the Proposed Merger

As previously announced and as discussed herein, on October 27, 2025, FirstSun Capital Bancorp (“FirstSun”) and FFI entered into an Agreement and Plan of Merger (as it may be amended, modified or supplemented from time to time, the “Merger Agreement”) pursuant to which FFI will merge with and into FirstSun, with FirstSun continuing as the surviving corporation (the “Merger”). Immediately following the completion of the Merger, an subject to the occurrence of the Merger, the Bank will merge with and into FirstSun’s wholly-owned subsidiary bank, Sunflower Bank, National Association (“Sunflower Bank”), with Sunflower Bank continuing as the surviving bank (the “Bank Merger”).

The Value of the Merger Consideration Will Fluctuate Based on the Trading Price of FirstSun Common Stock.

The exchange ratio determining the number of shares of FirstSun common stock to be issued in the Merger in exchange for each share of FFI’s common stock will not automatically adjust based on the trading price of FirstSun common stock, and the market value of those shares may vary from the closing price of FirstSun common stock on the date the Merger was announced, on the date of the special meeting of FFI’s shareholders to approve the Merger Agreement, on the date the Merger is consummated and thereafter. Any change in the market price of FirstSun common stock prior to consummation of the Merger will affect the amount of and the market value of the merger consideration that FFI’s shareholders will receive upon consummation of the Merger. Accordingly, at the time of the special meeting of FFI’s shareholders, shareholders will not know or be able to calculate with certainty the market value of the FirstSun common stock to be issued to FFI’s shareholders upon consummation of the Merger. Stock price changes may result from a variety of factors, including general market and economic conditions, changes in business, operations and prospects, and regulatory