Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders Equity Note [Abstract]

Shareholders' Equity

NOTE 11: SHAREHOLDERS’ EQUITY

In August 2012, the Company acquired all of the assets and assumed all of the liabilities of Desert Commercial Bank. The merger agreement for this acquisition included a contingent payout based on the performance of certain assets over a two year period.  The Company has determined that the amount of the contingent payout to be $1.0 million, of which $0.90 million is to be paid out in common stock of FFI using an assumed value of $15.00 per share and $0.1 million is to be paid out in cash.  As of December 31, 2015, the Company had issued 54,644 shares of FFI common stock as part of this payout.

FFI is a holding company and does not have any direct operating activities. Any future cash flow needs of FFI are expected to be met by its existing cash and cash equivalents and dividends from its subsidiaries. The Bank is subject to various laws and regulations that limit the amount of dividends that a bank can pay without obtaining prior approval from bank regulators. As of December 31, 2015, FFI’s cash and cash equivalents totaled $42.2 million.