First Foundation Bank
2023 Overview
General Bank Information
First Foundation Bank is an FDIC insured institution located in Irvine, CA. It was founded in 2007 and has approximately $11.23 billion in assets. Customers can open an account at one of its 16 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 58647 |
| Date Established | 2007 |
| Assets | $ 11.23 billion |
| Loans | $ 10.32 billion |
| Deposits | $ 9.61 billion |
| Capital | $ 1,228.12 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 - March 31, 2023
Your Current Location: Virginia, VA 20146
Bank Offers
First Foundation Bank Lowers Online Savings Rate to 0.75% APY
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
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
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
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
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
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
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
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.
Loan Rates - March 31, 2023
Your Current Location: Virginia, VA 20146
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 - Virginia 30 Year Fixed Mortgage Rates 2023
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 3030 |
6.596% |
6.500% 1.00 points $2,500 fees |
$1,581 | Learn More |
NMLS ID: 3030 |
7.010% |
6.875% 0.88 points $3,438 fees |
$1,643 | Learn More |
NMLS ID: Not lender |
points fees |
Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR
7.490 %
After Intro: 8.500 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Third Federal Savings and Loan See Table |
6.990 %
|
$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:
Ashburn,Virginia
Climate 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.
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 |
|---|---|
| 1.47% | 8.03% |
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 September 30, 2022, First Foundation Bank had $12,378,000 in non-current loans and $6,210,000 in owned real estate. To cover these potential losses it had $1,228,119,000 in equity and $32,900,000 in loans loss reserves. That gives it a Texas Ratio of 1.47%.
Return on Equity
| First Foundation Bank | U.S. Bank Average |
|---|---|
| 11.41% | 10.00% |
First Foundation Bank has a Return on Equity of 11.41% versus the BestCashCow average of 10.00%. 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 |
|---|---|
| 10.94% | 9.96% |
First Foundation Bank has a Capitalization of 10.94% versus the BestCashCow average of 9.96. 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 September 30, 2022, First Foundation Bank had assets of $11,228,323,000, loans of $10,322,520,000, and deposits of $9,609,861,000. 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
September 30, 2022| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 236.58 million |
| Interest-bearing balances | $ 192.07 million |
| Total securities | $ 1,192.47 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 10.32 billion |
| Loan loss allowance | $ 32.90 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 6.21 million |
| Goodwill and other intangibles | $ 228.23 million |
| All other assets | $ 212.19 million |
| Total Assets | $ 11.06 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 9.61 billion |
| Interest-bearing deposits | $ 6.00 billion |
| Deposits held in domestic offices | $ 9.61 billion |
| % insured (estimated) | 61.03% |
| Federal funds purchased and repurchase agreements | $ 179.14 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 149.00 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 102.00 million |
| Total Liabilities | $ 11.06 billion |
| Shareholders’ Equity | $ 166.78 million |
Summary Income Statement
September 30, 2022| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 283.09 million |
| Total Interest Expense | $ 29.17 million |
| Net interest income | $ 253.92 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 14.31 million |
| Total non interest expense | $ 136.12 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 | 9.64 | ✓ | ||
| Multifamily Mortgages |
43.26 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 1.43 | ✓ | ||
| Construction and Development Loans | 1.60 | ✓ | ||
| Commercial Real Estate | 12.19 | ✓ | ||
| Commercial and Industrial Loans | 14.11 | ✓ | ||
| 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 (45)
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:1 / No: 0
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:0 / No: 0
AlisonG67
June 18, 2022 | | Replies 1
Avoid this bank at all cost, no matter what the rate is. The external transfer limits will not be waived for anyone under any circumstance. Not a place to stash cash.
Is this review helpful? Yes:1 / No: 1
PJs at bedtime | Mar 31, 2023
I just don't get all of the concerns about external limits. You avoid these easily by transferring from an external account.
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:1 / No: 0
07AWalt
May 5, 2022 |
I have no idea what's up with all of the bad reviews. I opened an account easily at 0.65% and then they were the first to raise to 1% after the Fed review. No friction, but no need to contact them or remove money so far.
Is this review helpful? Yes:2 / No: 0
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