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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36461 FIRST FOUNDATION INC. (Exact name of Registrant as specified in its charter) Delaware 20-8639702 (State ...

Financial Data and Key Metrics Changes - The company reported net income attributable to common shareholders of $793,000 or $0.014 per share for the first quarter of 2024, with tangible book value increasing to $16.35, up $0.05 from the previous quarter [112] - Net interest margin (NIM) decreased to 1.17% from 1.36% in the fourth quarter of 2023, largely due to the return of non-interest-bearing deposits later in the quarter [113][129] - Non-interest expense decreased to $50.6 million from $55.9 million in the prior quarter, indicating a focus on cost management [113] Business Line Data and Key Metrics Changes - Wealth and Trust related fees remained flat at $8.6 million, while assets under management (AUM) increased to $5.5 billion, up $300 million from year-end 2023 [4][5] - The company exited the equipment finance operations, which is expected to save approximately $1.5 million annually [115] - Loan balances ended the quarter at $10.1 billion, a reduction of $100 million compared to the previous quarter [120] Market Data and Key Metrics Changes - Non-interest-bearing demand deposits increased to 17% of total deposits, up from 14% in the fourth quarter of last year [117] - The company maintained a strong liquidity position of $4.4 billion, with a liquidity to uninsured and uncollateralized deposits ratio of 2.7 times [118] - Average borrowings increased to $1.6 billion, representing 11.8% of total average assets for the quarter [119] Company Strategy and Development Direction - The company is focused on improving operating efficiency and controlling discretionary costs, with a strategic pivot back to relationship banking [7][10] - Management emphasized the importance of maintaining a strong deposit pipeline, particularly in non-interest-bearing categories [117][133] - The company plans to continue strategically adding hedges to improve recurring revenues and reduce interest rate sensitivity [138] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow once economic uncertainty subsides, highlighting a robust deposit pipeline [9][33] - The management team acknowledged the challenges posed by the current economic environment but remains optimistic about future growth opportunities [36][122] - The company is preparing for potential rate cuts in 2024 while focusing on relationship-driven deposit gathering strategies [29][57] Other Important Information - The company reported a nonperforming assets to total assets ratio of 0.18%, slightly up from 0.15% in the previous quarter, indicating stable credit quality [120] - The company is committed to a gradual increase in CECL reserves as part of its risk management strategy [20] - The company is actively working to enhance its digital banking capabilities to improve customer service and operational efficiency [28] Q&A Session Summary Question: What is the expected pace of loan repricing in the next 12 to 18 months? - Management indicated that borrowers are currently cautious but expect a normal cadence of refinance activity as rates stabilize [41][45] Question: What strategies are being focused on for deposit growth? - The company is emphasizing relationship-focused strategies, particularly in the C&I business, to drive deposit growth [56][58] Question: What is the outlook for net interest income and margins? - Management expects net interest income to benefit from increasing non-interest-bearing deposit balances in the second quarter, but specific guidance on margin expansion was not provided [83][106] Question: How are customer service costs expected to trend? - Customer service costs are anticipated to increase as deposits return, but management is focused on maintaining a favorable expense-to-assets ratio [104][92]

This report includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including forwar statements regarding our expectations and beliefs about our future financial performance and financial condition, as well as reads in our business and markets. Forward-look statements often include words such as "believe," "expect," "auticipate," "intend, ""plan, " estimate, ""project," "outdook," or words of similar meaning, or future o ...

First Foundation (FFWM) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this wealth manager and commercial bank would post earnings of $0.02 per share when it actually produced earnings of $0.05, delivering a surprise of 150%.Over the last fou ...

First Foundation Inc. (NYSE: FFWM) April 25, 2024 Exhibit 99.1 FIRST FOUNDATION INC. REPORTS FIRST QUARTER 2024 RESULTS | 1Q24 Key Financial Data | | | | | Highlights | | --- | --- | --- | --- | --- | --- | | Profitability Metrics Return on average | | 1Q24 | 4Q23 | 1Q23 | | | assets (%) | | 0.02 | 0.08 | 0.26 | | | Adjusted return on | | | | | | | average assets (%) | (a) | 0.03 | 0.09 | 0.25 | approximately 85% of total deposits. | | Return on average | | | | | | | common equity (%) | | 0.3 | 1.1 | 3.0 | ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider First Foundation (FFWM) . This company, which is in the Zacks Banks - Southwest industry, shows potential for another earnings beat.When looking at the last two reports, this wealth manager and commercial bank has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 108.33%, on average ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-36461 FIRST FOUNDATION INC. (Exact name of registrant as specified in its charter) Delaware 20-8639702 (State or o ...

IRVINE, Calif.--(BUSINESS WIRE)--First Foundation Inc. (NYSE: FFWM) ("First Foundation"), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, announces the nonprofit recipients of its 'Supporting Our Communities' philanthropy initiative. First Foundation's 'Supporting Our Communities' initiative is designed to support organizations in our community that focus on immediate needs such as food insecurity, emergency housing, and work ...

OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock | FFWM | New York Stock Exchange | Indicate ...