December 19, 2017 / 2:28 PM / 6 months ago

BRIEF-First Foundation To Acquire Premier Business Bank

Dec 19 (Reuters) - First Foundation Inc:

* FIRST FOUNDATION TO ACQUIRE PREMIER BUSINESS BANK

* FIRST FOUNDATION INC - ‍ TRANSACTION, HAS BEEN UNANIMOUSLY APPROVED BY EACH COMPANY’S BOARD OF DIRECTORS​

* FIRST FOUNDATION - PBB BANCORP SHAREHOLDERS WILL RECEIVE 1.05 SHARES OF FIRST FOUNDATION COMMON STOCK IN EXCHANGE FOR EACH SHARE OF PBB BANCORP

* FIRST FOUNDATION INC - ‍ 100% STOCK TRANSACTION IS VALUED AT APPROXIMATELY $106 MILLION IN AGGREGATE​

* FIRST FOUNDATION INC - ‍TRANSACTION EXPECTED TO BE IMMEDIATELY ACCRETIVE TO CO’S EPS (EXCLUDING APPROXIMATELY $5.1 MILLION OF ONE-TIME EXPENSES)​

* FIRST FOUNDATION INC - ‍TRANSACTION WILL NOT REQUIRE ANY SUPPLEMENTAL FINANCING​

* FIRST FOUNDATION - AT CLOSING, TRANSACTION EXPECTED TO BE ABOUT 3.6% DILUTIVE TO FIRST FOUNDATION’S TANGIBLE BOOK VALUE PER SHARE

* FIRST FOUNDATION - ESTIMATED TANGIBLE BOOK VALUE EARN-BACK PERIOD IS 3.8 YEARS Source text for Eikon: Further company coverage:

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