February 03, 2012 18:11 ET

First Foundation Inc. and Desert Commercial Bank Announce Shareholder Approval of Planned Merger

IRVINE, CA–(Marketwire – Feb 3, 2012) – First Foundation Inc. (“First Foundation” or “FFI”), the parent holding company of First Foundation Bank (“FFB”), and Desert Commercial Bank (DCB) ( OTCBB : DCBC) announced today that on January 30, 2012, at their separate special shareholder meetings, both FFI and DCB received shareholder approval for the previously announced definitive agreement and plan of merger under which FFB will acquire DCB.

Completion of the merger is still subject to satisfaction of customary conditions, including the receipt of regulatory approvals.

Scott F. Kavanaugh, CEO of First Foundation, and Tony J. Swartz, President and CEO of Desert Commercial Bank, both stated, “We are extremely pleased that the shareholders of First Foundation and Desert Commercial Bank understand the value of this transaction and gave their approval for us to move forward with the merger.”

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