Dallas-based First Foundation acquires Florida-based TGR Financial, unit

Dallas-based First Foundation Inc. completed the acquisition of Naples, Fla.-based TGR Financial, Inc.

As part of the deal, TGR Financial unit First Florida Integrity Bank will merge with and into First Foundation's unit First Foundation Bank.

First Foundation appointed Gary Tice, who previously served as TGR Financial's board chairman, to serve on its board. The board named Garrett Richter market president, a newly created position to oversee activities in Florida.

Upon consummation of the transaction, each TGR Financial shareholder received 0.6068 of a share of First Foundation common stock for each share of the former's common stock.