M and A

First Foundation Completes Double Branch Acquisition

Amisha Mehta Deputy Editor 13 December 2016

First Foundation Completes Double Branch Acquisition

The financial services company, which provides services including wealth management, has enhanced its presence in the Orange County.

First Foundation has completed the acquisition of two branches, with around $180 million in deposits, from Pacific Western Bank.

The branches, located in Laguna Hills and Seal Beach, California, will now operate under the First Foundation name. The acquisition boosts First Foundation Bank’s California presence to nine branches. The bank also has branches in Las Vegas, Nevada, and Honolulu, Hawaii.

“The new locations expand our footprint in Southern California and align well with our relationship-driven approach to serving clients and supporting the local community,” said Scott Kavanaugh, chief executive of First Foundation.

Details of the deal were not disclosed.

First Foundation, which is headquartered in Irvine, California, provides private wealth management, personal banking and business banking services.

Register for WealthBriefingAsia today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes