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FFWM

First Foundation Inc.

FFWM

First Foundation Inc. • NASDAQ
$5.33 ▼ -1.02% (-0.06)
Market Cap $439.41 M
52w High $8.18
52w Low $4.42
Dividend Yield 0.01%
P/E -2.81
Volume 244.13K
Outstanding Shares 82.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $143.188M ▲ $48.414M ▲ $-146.323M ▼ -102.189% ▼ $-1.78 ▼ $-57.045M ▼
Q2-2025 $125.48M ▼ $46.941M ▲ $-7.69M ▼ -6.128% ▼ $-0.093 ▼ $-6.885M ▼
Q1-2025 $146.293M ▼ $46.67M ▼ $6.896M ▲ 4.714% ▲ $0.084 ▲ $8.39M ▲
Q4-2024 $148.05M ▲ $49.199M ▲ $-14.111M ▲ -9.531% ▲ $-0.17 ▲ $-21.145M ▲
Q3-2024 $32.622M $41.271M $-82.174M -251.897% $-1.23 $-115.055M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.282B ▲ $11.91B ▲ $10.992B ▲ $917.911M ▼
Q2-2025 $2.525B ▼ $11.588B ▼ $10.538B ▼ $1.051B ▼
Q1-2025 $2.532B ▲ $12.588B ▼ $11.528B ▼ $1.061B ▲
Q4-2024 $2.33B ▼ $12.645B ▼ $11.592B ▼ $1.053B ▼
Q3-2024 $2.413B $13.377B $12.307B $1.07B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-7.69M ▼ $-16.256M ▼ $1.031B ▲ $-972.936M ▼ $41.759M ▲ $-16.678M ▼
Q1-2025 $6.896M ▲ $-552K ▲ $57.948M ▼ $-59.673M ▲ $-2.277M ▲ $-2.517M ▲
Q4-2024 $-14.111M ▲ $-21.09M ▼ $631.2M ▲ $-700.4M ▼ $-90.29M ▲ $-21.454M ▼
Q3-2024 $-82.174M ▼ $14.217M ▲ $-66.939M ▲ $-262.342M ▼ $-315.064M ▼ $13.391M ▲
Q2-2024 $3.085M $-9.122M $-285.31M $127.882M $-166.55M $-9.373M

Revenue by Products

Product Q2-2018Q3-2018
Investment Advisory Management And Administrative Service
Investment Advisory Management And Administrative Service
 $10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement First Foundation’s income statement shows a clear shift from a healthy, profitable bank a few years ago to a business under earnings pressure now. Revenue grew strongly through the rate‑hike cycle but has recently slipped, and what’s more important is that the profit margin has compressed sharply. After solid profits in 2021 and 2022, the last two years have swung to meaningful losses at the operating and net income level. This usually reflects a mix of higher funding costs, narrower lending spreads, possible credit issues, and elevated non‑interest expenses. In plain terms: the bank is still bringing in a decent level of revenue, but the cost of doing business and managing risks has risen faster, leaving little room for profit and resulting in losses to shareholders.

Balance Sheet

Balance Sheet The balance sheet has grown a lot over the last five years, with total assets and loans expanding as the bank pushed for scale. Cash levels are reasonable for a regional bank, but the most notable trend is the buildup of debt funding alongside that growth. Leverage has risen, while equity has increased more slowly, which tightens the cushion that protects shareholders against future losses. The announced plan, as part of the merger, to reduce non‑core assets signals management is aware that the balance sheet needs to be streamlined and de‑risked. Overall, the bank still has meaningful equity, but its room for error is thinner than it was earlier in the decade, and balance sheet quality and capital strength will be key areas to watch.

Cash Flow

Cash Flow Cash generation is a weak spot. Operating cash flow has slipped from comfortably positive to slightly negative, which is consistent with the move from profit to loss. Free cash flow has hovered around breakeven recently, helped by low capital spending but held back by the stressed earnings picture and balance sheet funding dynamics. This tells you the business is not burning large amounts of cash, but it is also not producing the steady, surplus cash one would like to see from a mature regional bank. The model is capital‑light, yet current cash flows show that earnings quality and underlying economics are under strain.

Competitive Edge

Competitive Edge First Foundation sits in a crowded regional banking space but tries to differentiate through an integrated banking and wealth management platform with a boutique, high‑touch feel. Its ability to offer banking, investment management, trust, insurance, and philanthropy services under one roof creates stickier client relationships and good cross‑selling potential. Clients who use several of these services tend to face higher switching costs, which is a real competitive advantage. On the other hand, the bank still competes with much larger national players and aggressive local rivals, all fighting for deposits and quality borrowers. Recent financial stress highlights that even a differentiated relationship model cannot fully shield a regional bank from interest‑rate swings, funding pressures, or credit risk. The planned merger, if completed and executed well, could strengthen its competitive scale but also brings integration and cultural risks.

Innovation and R&D

Innovation and R&D While not a pure fintech player, First Foundation has invested in technology aimed at improving client experience rather than building flashy, standalone platforms. Its wealth “Investment Insights” portal, mobile app powered by a leading data‑aggregation partner, and full set of digital banking tools (online account opening, mobile deposit, Zelle, bill pay, and account aggregation) all support a more holistic and convenient view of clients’ finances. The strategy leans on partnering with established fintech firms instead of inventing everything in‑house, which can be efficient for a bank of this size. Innovation here is more incremental and service‑oriented than disruptive, but it does reinforce the firm’s high‑touch, advisory model. The merger with FirstSun could unlock additional tech investments and the chance to standardize on the best systems from each side, though the details and execution remain uncertain.

Summary

First Foundation has transitioned from a period of solid, profitable growth to a more challenging phase marked by losses, weaker margins, and softer cash generation. Its balance sheet has expanded significantly but with higher leverage, making risk management, asset quality, and capital levels more critical going forward. The core franchise—combining banking with wealth and trust services in a relationship‑driven model—remains a strategic strength that can foster deep client loyalty and recurring fee income. Digital tools and fintech partnerships support that model rather than redefine it. The announced merger with FirstSun is a pivotal event: it offers the promise of more scale, efficiency, and a stronger wealth platform, but also introduces integration complexity and regulatory and execution risk. Overall, FFWM is in the middle of a repair and transformation story, where future performance will depend heavily on how well management strengthens the balance sheet, restores sustainable profitability, and delivers on the combined bank’s potential.

NEWS

November 4, 2025 · 6:00 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of First Foundation Inc. (NYSE: FFWM)

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October 30, 2025 · 6:55 AM UTC

First Foundation Inc. Reports Third Quarter 2025 Financial Results

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October 29, 2025 · 7:25 PM UTC

First Foundation Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of First Foundation Inc. - FFWM

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October 28, 2025 · 7:20 AM UTC

FFWM Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of First Foundation Inc. is Fair to Shareholders

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October 27, 2025 · 9:04 PM UTC

Shareholder Alert: The Ademi Firm investigates whether First Foundation Inc. is obtaining a Fair Price for its Public Shareholders

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