M&A · Financials · State Commercial Banks
Firstsun Capital Bancorp to acquire First Foundation Inc.
Announced Oct 27, 2025 · Closed Apr 1, 2026
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Firstsun Capital Bancorp (FSUN)
- Target
- First Foundation Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Apr 1, 2026
Deal protections
- Break fee (target pays)
- $31.4M
- Reverse fee (buyer pays)
- $45.1M
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Stephens
- To the target
- Jefferies
- Jefferies fee
- $2.0M
Sector context · Financials
- Comparable deals
- 59 in the prior 24 months
- Premium
- Sector median 34.0%
- EV / Adj. EBITDA
- Sector median 12.5x
- Break fee
- Sector median 3.7%
Timeline
- AnnouncedOct 27, 2025
- Proxy filedJan 15, 2026
- Definitive proxyJan 15, 2026
- Shareholder voteFeb 27, 2026
- ClosedApr 1, 2026
Valuation · fairness opinions
Discounted cash flowStifel$4.63$6.17
Discounted cash flowStifel$45.10$56.93
Discounted cash flowStifel$46.49$60.42
Trading comparablesJefferies$35.07$42.46
Trading comparablesJefferies$39.93$51.99
Trading comparablesJefferies$3.98$6.37
Discounted cash flowJefferies$41.08$50.96
Discounted cash flowJefferies$5.98$7.86
Implied value per First Foundation Inc. share by analysis, from Stifel and Jefferies · DCF discount rate 12.5%–16.5%.