First Foundation Inc. Acquires TGR Financial, Inc. and First Florida Integrity Bank
June 3, 2021
First Foundation Inc. agreed to acquire TGR Financial, Inc. (the holding company of First Florida Integrity Bank) in an all-stock transaction valued at approximately $295 million, creating a combined bank with roughly $9.4 billion in pro forma assets. The deal expands First Foundation's banking and trust presence in Florida; TGR shareholders will receive 0.6068 shares of First Foundation common stock per TGR share and will own about 20.2% of First Foundation on a pro forma basis.
- Buyers
- First Foundation Inc.
- Targets
- TGR Financial, Inc., First Florida Integrity Bank
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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