First Foundation Inc. announced that Pursuant to the previously announced offering of $150 million aggregate principal amount of 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Notes”) issued by First Foundation Inc. (the “Company”), the Company and U.S. Bank National Association, as trustee, entered into an Indenture dated as of January 24, 2022 (the “Base Indenture”) and a First Supplemental Indenture dated as of January 24, 2022 to the Base Indenture (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), providing for the issuance of the Notes. The Notes initially will bear interest at a rate of 3.50% per annum, payable semi-annually in arrears on February 1 and August 1 of each year, commencing on August 1, 2022. The last interest payment date for the fixed rate period will be February 1, 2027.

From and including February 1, 2027 to, but excluding February 1, 2032 or the date of earlier redemption, the Notes will bear interest at a floating rate per annum equal to the Benchmark rate (which is expected to be Three-Month Term SOFR), each as defined in and subject to the provisions of the Indenture, plus 204 basis points, payable quarterly in arrears on February 1, May 1, August 1, and November 1 of each year, commencing on May 1, 2027. Notwithstanding the foregoing, if the Benchmark rate is less than zero, the Benchmark rate will be deemed to be zero. The company may redeem the Notes at such times and on such terms provided for in the Indenture.