North Reef files 5.91M-share disclosure for First Foundation (FFWM)

Rhea-AI Filing Summary

First Foundation Inc. Schedule 13G/A amendment shows North Reef Capital Management and affiliated filers report beneficial ownership of 5,911,778 shares of First Foundation Inc. common stock, representing 7.13% of the class. The filing attributes shared voting and dispositive power over the same 5,911,778 shares and is signed by the reporting parties.

Insights

Institutional Ownership Specialist

Large passive stake disclosed: 5,911,778 shares (7.13%).

The filing records a 7.13% beneficial stake held with shared voting and dispositive power by North Reef entities and James Hanna, III. This structure commonly reflects pooled fund ownership or shared control across affiliated entities.

Dependencies include any fund documents or later amendments that change holdings; subsequent Schedule 13D/13G amendments would update this position.

Corporate Governance Analyst

Shared control may affect engagement potential with management.

Shared voting power of 5,911,778 shares means the filers can participate in voting decisions but do not report sole control. This level of ownership can support dialogue with the board on governance matters while remaining below common activist thresholds.

Watch for future disclosures or joint filing agreements that specify voting arrangements or intent.

Key Figures

Beneficial ownership: 5,911,778 shares Percent of class: 7.13% Shared voting power: 5,911,778 shares +2 more

5 metrics

Beneficial ownership 5,911,778 shares Amount beneficially owned reported in Item 4

Percent of class 7.13% Percent of class reported in Item 4

Shared voting power 5,911,778 shares Shared power to vote listed in Item 4(c)(ii)

Shared dispositive power 5,911,778 shares Shared power to dispose listed in Item 4(c)(iv)

CUSIP 32026V104 Issuer CUSIP in Item 2(d)/(e)

Key Terms

Beneficial ownership, Shared voting power, Schedule 13G/A, Joint Filing Agreement

4 terms

Beneficial ownership regulatory

"Amount beneficially owned: 5,911,778"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared voting power regulatory

"Shared power to vote or to direct the vote: 5,911,778"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Schedule 13G/A regulatory

"Form type: SCHEDULE 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Joint Filing Agreement regulatory

"EXHIBIT 99.1 - JOINT FILING AGREEMENT"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

First Foundation Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

32026V104

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 32026V104

1

Names of Reporting Persons

North Reef Capital Management L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,911,778.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,911,778.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,911,778.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.13 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 32026V104

1

Names of Reporting Persons

North Reef Capital Management GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,911,778.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,911,778.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,911,778.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.13 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP Number(s): 32026V104

1

Names of Reporting Persons

James Hanna, III

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,911,778.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,911,778.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,911,778.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.13 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: First Foundation Inc.
(b)	Address of issuer's principal executive offices: 5221 North O'Connor Boulevard, Suite 1378, Irving, Texas 75039
Item 2.
(a)	Name of person filing: North Reef Capital Management LP North Reef Capital Management GP LLC James Hanna, III
(b)	Address or principal business office or, if none, residence: c/o North Reef Capital Management LP 1833 South Coast Highway Suite 210 Laguna Beach, California 92651
(c)	Citizenship: North Reef Capital Management LP - Delaware North Reef Capital Management GP LLC - Delaware James Hanna, III - California
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 32026V104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,911,778
(b)	Percent of class: 7.13 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 5,911,778
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 5,911,778
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

North Reef Capital Management L.P.

Signature:	/s/ Daniel Locasto
Name/Title:	Chief Compliance Officer
Date:	05/15/2026

North Reef Capital Management GP LLC

Signature:	/s/ James Hanna, III
Name/Title:	Managing Member
Date:	05/15/2026

James Hanna, III

Signature:	/s/ James Hanna, III
Name/Title:	James Hanna, III
Date:	05/15/2026

Exhibit Information

EXHIBIT 99.1 - JOINT FILING AGREEMENT

FAQ

What stake does North Reef hold in First Foundation (FFWM)?

North Reef reports beneficial ownership of 5,911,778 shares, equal to 7.13% of First Foundation's common stock. The filing states the stake is held with shared voting and dispositive power by affiliated entities and an individual filer.

Who filed the Schedule 13G/A for FFWM?

The filing is by North Reef Capital Management L.P., North Reef Capital Management GP LLC, and James Hanna, III. The joint filing agreement is included as Exhibit 99.1 and signatures are dated 05/15/2026.

How much voting power does the filer have over FFWM shares?

The filers report shared voting power of 5,911,778 shares and shared dispositive power of 5,911,778 shares. They report no sole voting or sole dispositive power in the submitted amendment.

Does this Schedule 13G/A signal activist intent for FFWM?

The amendment lists beneficial ownership and a joint filing agreement but does not state activist intent. It records a 7.13% stake with shared powers; the filing does not include any statements of intent or plans regarding engagement.

Where is the filer located and what is the issuer's address?

The filers' principal business office is 1833 South Coast Highway, Suite 210, Laguna Beach, California 92651. The issuer's principal executive office is 5221 North O'Connor Boulevard, Suite 1378, Irving, Texas 75039.