The Bank Slate


First Foundation fights off activist threat for board seat

First Foundation in Dallas prevailed in a proxy battle with an activist investor.


The $13.6 billion-asset company said in a press release that shareholders elected its 10 candidates during this year’s annual meeting. The release did not break down vote totals.


Driver Capital Management had nominated Allison Ball, a partner at Hanover Technology Investment Management, to vie for a board seat.


“We would like to thank all First Foundation stockholders for their continued support and participation in our Annual Meeting this year,” Scott Kavanaugh, First Foundation’s president and CEO, said in the release.


“The results of this meeting have demonstrated that investors believe in our long-term strategy at a pivotal time for the company and the industry,” he added. “We will continue to execute on our business strategy to generate growth and create value for … stockholders.”

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