2024 Overview
General Bank Information
First Foundation Bank is an FDIC insured institution located in Irvine, CA. It was founded in 2007 and has approximately $13.3 billion in assets. Customers can open an account at one of its 16 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 58647 |
| Date Established | 2007 |
| Assets | $ 13.30 billion |
| Loans | $ 10.15 billion |
| Deposits | $ 10.69 billion |
| Capital | $ 1,069.96 million |
For a more detailed analysis of First Foundation Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings Account
|
4.90% | $1,000 | - |
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|
|
Money Market
|
4.90% | $1,000 | - |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 9 Month CD
|
5.00% | $2,500 | - |
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|
| 12-Month Online CD
|
4.85% | $2,500 | - |
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|
Bank Offers
First Foundation Bank Lowers Online Savings Rate to 0.75% APY
Oct 20, 2020
First Foundation Bank has lowered its online savings rate from 1.00% APY to 0.75% APY today.
First Foundation Bank Lowers Online Savings Rate to 0.60% APY
Jan 8, 2021
The bank had offered the highest nationally available online savings rate at 0.75% until today.
First Foundation Bank Lowers Online Savings Rate to 0.50% APY
May 14, 2021
The bank has lowered their online savings rate by 10 basis points from 0.60% APY.
First Foundation Bank Raises Online Savings Rate to 0.65% APY
Apr 13, 2022
First Foundation Bank is raising its online savings rate to 0.65% from 0.50% today.
First Foundation Bank Raises Online Savings Rate to 3.10% APY
Oct 14, 2022
First Foundation has raised its online savings rate from 2.75% to 3.10% APY.
First Foundation Bank Raises Online Savings Rate to 4.00% APY
Dec 8, 2022
First Foundation Bank has raised its online savings rate by 40 basis points to 4.00% APY.
The bank has consistently been a rate leader through this cycle and is well reviewed on BestCashCow.
First Foundation Bank Raises Online Savings and Money Market Rates to 4.20% APY
Jan 30, 2023
This move represents a .20% hike from the rate which had stood at 4% since December 8, 2022.
First Foundation Bank Raises Online Savings Rate to 4.50% APY
Mar 15, 2023
First Foundation Bank has raised its online savings rate by 30 basis points today, from 4.20% to 4.50% APY.
First Foundation has offered one of the most competitive online savings rates during the current rate cycle, and that continues to be the case with today's action.
First Foundation Bank Raises Online Savings Rate to 5.00% APY
Jul 27, 2023
First Foundation Bank has raised its online savings rate to 5.00% APY. The rate had previously stood at 4.85%.
First Foundation Bank has been a consistent rate leader since the Fed began raising interest rates in early 2022.
Compare all online savings rates here.
First Foundation Bank Introduces New Online Money Market Rate at 5.25%; Online Savings Rate Remains at 5.00%
Nov 17, 2023
First Foundation Bank has introduced an Online Money Market account with a 5.25% rate. This rate is among the most competitive currently offered for online savings and money market accounts.
The bank continues to offer an online savings rate of 5.00%. Prior customers who are seeking the new rate can contact the bank and ask for a product change.
Loan Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for First Foundation Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1835285 |
6.787% |
6.750% 0.38 points $1,203 fees |
$2,076 | Learn More |
NMLS ID: 2059741 |
7.004% |
6.875% 0.63 points $4,192 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.463% |
7.375% 0.88 points $2,800 fees |
$2,211 | Learn More |
NMLS ID: 491986 |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to First Foundation Bank
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Branches
First Foundation Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
First Foundation Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
First Foundation Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of First Foundation Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| First Foundation Bank | U.S. Bank Average |
|---|---|
| 2% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, First Foundation Bank had $13,562,000 in non-current loans and $8,381,000 in owned real estate. To cover these potential losses it had $1,069,960,000 in equity and $29,205,000 in loans loss reserves. That gives it a Texas Ratio of 2%.
Return on Equity
| First Foundation Bank | U.S. Bank Average |
|---|---|
| -16.89% | 12.20% |
First Foundation Bank has a Return on Equity of -16.89% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| First Foundation Bank | U.S. Bank Average |
|---|---|
| 8.05% | 10.76% |
First Foundation Bank has a Capitalization of 8.05% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
First Foundation Bank Balance Sheet Analysis
As of December 31, 2023, First Foundation Bank had assets of $13,298,671,000, loans of $10,148,598,000, and deposits of $10,694,894,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 1,326.24 million |
| Interest-bearing balances | $ 1,279.64 million |
| Total securities | $ 1,492.80 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 10.15 billion |
| Loan loss allowance | $ 29.21 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 8.38 million |
| Goodwill and other intangibles | $ 10.46 million |
| All other assets | $ 212.19 million |
| Total Assets | $ 12.23 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 10.69 billion |
| Interest-bearing deposits | $ 9.22 billion |
| Deposits held in domestic offices | $ 10.69 billion |
| % insured (estimated) | 75.42% |
| Federal funds purchased and repurchase agreements | $ 64.07 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 149.00 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 102.00 million |
| Total Liabilities | $ 12.23 billion |
| Shareholders’ Equity | $ 1,069.96 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 578.81 million |
| Total Interest Expense | $ 364.31 million |
| Net interest income | $ 214.50 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 14.12 million |
| Total non interest expense | $ 425.77 million |
| Pre-tax Net Operating Income | $ 91.10 million |
Bank Loan Profile?
The top three loan types in First Foundation Bank’s loan portfolio are Multifamily Mortgages, Commercial and Industrial Loans, and Commercial Real Estate.
Compared to other banks in California, First Foundation Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 9.80 | ✓ | ||
| Multifamily Mortgages |
44.00 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 1.19 | ✓ | ||
| Construction and Development Loans | 1.63 | ✓ | ||
| Commercial Real Estate | 12.40 | ✓ | ||
| Commercial and Industrial Loans | 14.35 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
*Should any logos, images or public notes appear on this page,they do so courtesy of First Foundation Bank and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.
Customer Reviews for First Foundation Bank
james
November 18, 2023 |
bank delayed 1-2days to credit into your account, pay less interest.
Is this review helpful? Yes:0 / No: 0
AG
September 26, 2023
Update 9-26-23
I have now used them for several days, and it gets better and better and better. They have every single thing I ever wished for in a bank and then some: Savings with fantastic rates, checking with a perfect bill paying app, easy app for depositing checks, various methods of verification so if for some reason you cannot receive texts or calls you can still get in safely but without spending hours. On top of which, when I called customer service on three different occasions I got someone almost immediately and they extremely pleasantly and efficiently answered my questions.
I think I died and went to heaven. WOW!!!
Original review:
I am ditching Capital One 360 for making my life a living hell over the last month when I tried two very simple tweaks to my account.
Searching for banks online, I found I could get a much better return than theirs as well. First Foundation Bank had all the functionalities I wanted, a savings account with a terrific interest rate, a checking account with bill paying, and the ability to operate without a mobile, if so desired.
So I decided that it would be worth the lengthy application and approval process described in some reviews. Imagine my surprise when I opened two accounts plus added a joint holder and my church as a beneficiary (the two things I tried to accomplish with Capital One to the point of going insane) in exactly three minutes! WOW!!!!
What a joy!
Is this review helpful? Yes:0 / No: 0
Jenin, GA
October 17, 2022 |
I opened the account without reading the reviews and I am glad I did. No troubles and they just raised their rate so it is on top of this list!
Is this review helpful? Yes:2 / No: 1
RRSantis
July 15, 2022 |
I received an email today that the transfer limits are now $100k per transfer, that transfers will take 3 days, and that the limit resets as soon as it settles after 3 days, and that thereafter it is $250k per month. Perhaps this will alleviate the stress that I and others on this board have had with First Foundation. Prior policy and interactions about ridiculously low limits were exasperating and I can still only give it 2 stars based on CSR to date.
Is this review helpful? Yes:1 / No: 0
Py5790
May 26, 2022 |
A good online experience, but external transfer limits are troubling. Pay attention to these and I certainly couldn't get them waived. At $10k a month, it will take me 25 months + plus to wind down an account at $250K.
Is this review helpful? Yes:2 / No: 0
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