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First Foundation (FFWM) Financials

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$5.04 +0.14 (+2.76%)
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Annual Income Statements for First Foundation

Annual Income Statements for First Foundation

This table shows First Foundation's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 111 -199 -92
Consolidated Net Income / (Loss)		 111 -199 -92
Net Income / (Loss) Continuing Operations		 111 -199 -92
Total Pre-Tax Income 		150 -200 -137
Total Revenue		 367 252 117
Net Interest Income / (Expense)		 319 202 183
Total Interest Income		 404 574 611
Loans and Leases Interest Income		 370 489 474
Investment Securities Interest Income		 26 40 82
Deposits and Money Market Investments Interest Income		 7.39 45 55
Total Interest Expense		 85 371 428
Deposits Interest Expense		 62 311 359
Long-Term Debt Interest Expense		 23 61 70
Total Non-Interest Income		 48 49 -66
Other Service Charges		 48 47 46
Net Realized & Unrealized Capital Gains on Investments		 0.00 2.30 6.95
Other Non-Interest Income		 0.00 0.00 -119
Provision for Credit Losses		 0.53 -0.48 21
Total Non-Interest Expense		 217 452 233
Salaries and Employee Benefits		 110 84 84
Net Occupancy & Equipment Expense		 36 37 38
Other Operating Expenses		 70 116 112
Impairment Charge		 0.00 215 0.00
Income Tax Expense		 39 -1.00 -45
Basic Earnings per Share		 $1.96 ($3.53) ($1.41)
Weighted Average Basic Shares Outstanding		 56.42M 56.43M 65.60M
Diluted Earnings per Share		 $1.96 ($3.53) ($1.41)
Weighted Average Diluted Shares Outstanding		 56.49M 56.43M 65.60M
Weighted Average Basic & Diluted Shares Outstanding		 56.35M 56.47M 82.37M

Quarterly Income Statements for First Foundation

This table shows First Foundation's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 29 17 8.50 -212 2.18 2.55 0.79 3.09 -82 -14
Consolidated Net Income / (Loss)		 29 17 8.50 -212 2.18 2.55 0.79 3.09 -82 -14
Net Income / (Loss) Continuing Operations		 29 17 8.50 -212 2.18 2.55 0.79 3.09 -82 -14
Total Pre-Tax Income 		40 21 11 -213 1.58 0.25 -0.12 2.66 -117 -23
Total Revenue		 100 82 70 61 64 56 51 57 -56 65
Net Interest Income / (Expense)		 88 75 59 49 52 42 38 44 49 51
Total Interest Income		 109 126 137 145 145 147 150 151 157 152
Loans and Leases Interest Income		 101 115 121 123 124 120 118 120 120 115
Investment Securities Interest Income		 6.75 6.68 6.89 6.77 11 16 20 18 21 23
Deposits and Money Market Investments Interest Income		 1.02 4.30 9.47 15 9.80 11 12 13 15 14
Total Interest Expense		 21 51 78 96 93 104 112 107 108 101
Deposits Interest Expense		 16 37 62 73 85 91 94 91 89 84
Long-Term Debt Interest Expense		 5.48 15 16 23 7.88 13 18 16 19 18
Total Non-Interest Income		 12 7.22 12 12 12 14 13 14 -106 13
Other Service Charges		 12 7.22 12 12 12 12 11 11 12 12
Net Realized & Unrealized Capital Gains on Investments		 - - 0.00 0.00 0.00 2.30 1.16 1.40 -0.01 4.40
Other Non-Interest Income		 0.00 - 0.00 0.00 0.00 - 0.84 0.84 -118 -3.29
Provision for Credit Losses		 -0.02 1.17 0.42 0.89 -2.02 0.23 0.58 -0.81 0.28 21
Total Non-Interest Expense		 60 60 59 273 64 56 51 56 60 67
Salaries and Employee Benefits		 30 23 25 21 20 18 19 19 20 25
Net Occupancy & Equipment Expense		 9.59 9.26 8.90 9.18 9.25 9.48 9.09 9.03 9.01 10
Other Operating Expenses		 21 27 25 27 35 28 22 28 31 31
Income Tax Expense		 11 3.59 2.20 -0.30 -0.60 -2.30 -0.91 -0.42 -35 -8.85
Basic Earnings per Share		 $0.51 $0.31 $0.15 ($3.76) $0.04 $0.04 $0.01 $0.05 ($1.23) ($0.24)
Weighted Average Basic Shares Outstanding		 56.39M 56.42M 56.38M 56.43M 56.44M 56.43M 56.48M 56.52M 66.99M 65.60M
Diluted Earnings per Share		 $0.51 $0.31 $0.15 ($3.76) $0.04 $0.04 $0.01 $0.05 ($1.23) ($0.24)
Weighted Average Diluted Shares Outstanding		 56.45M 56.49M 56.41M 56.43M 56.45M 56.43M 56.50M 56.53M 66.99M 65.60M
Weighted Average Basic & Diluted Shares Outstanding		 56.39M 56.35M 56.42M 56.44M 56.44M 56.47M 56.51M 67.85M 82.35M 82.37M

Annual Cash Flow Statements for First Foundation

This table details how cash moves in and out of First Foundation's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -465 670 -310
Net Cash From Operating Activities		 101 7.92 -8.78
Net Cash From Continuing Operating Activities		 101 7.92 -8.78
Net Income / (Loss) Continuing Operations		 111 -199 -92
Consolidated Net Income / (Loss)		 111 -199 -92
Provision For Loan Losses		 0.97 1.62 21
Depreciation Expense		 4.04 4.43 4.76
Amortization Expense		 3.85 -3.76 -9.16
Non-Cash Adjustments to Reconcile Net Income		 4.84 211 64
Changes in Operating Assets and Liabilities, net		 -23 -6.68 2.92
Net Cash From Investing Activities		 -3,247 133 287
Net Cash From Continuing Investing Activities		 -3,247 133 287
Purchase of Property, Leasehold Improvements and Equipment		 -4.58 -8.21 -2.73
Purchase of Investment Securities		 -3,499 -667 -1,543
Sale of Property, Leasehold Improvements and Equipment		 3.39 0.00 2.09
Sale and/or Maturity of Investments		 253 808 1,831
Net Cash From Financing Activities		 2,680 529 -589
Net Cash From Continuing Financing Activities		 2,680 529 -589
Net Change in Deposits		 1,551 326 -819
Issuance of Debt		 86,050 0.06 2,794
Issuance of Preferred Equity		 0.00 0.00 138
Issuance of Common Equity		 0.02 0.16 90
Repayment of Debt		 -85,090 412 -2,777
Repurchase of Common Equity		 -4.62 -0.54 -0.15
Payment of Dividends		 -25 -9.02 -1.13
Other Financing Activities, Net		 199 -200 -14
Cash Interest Paid		 76 329 401
Cash Income Taxes Paid		 41 -5.48 0.18

Quarterly Cash Flow Statements for First Foundation

This table details how cash moves in and out of First Foundation's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 144 339 661 -391 -108 508 261 -167 -315 -90
Net Cash From Operating Activities		 30 1.25 9.79 17 16 -34 7.21 -9.12 14 -21
Net Cash From Continuing Operating Activities		 30 1.25 9.79 17 16 -34 7.21 -9.12 14 -21
Net Income / (Loss) Continuing Operations		 29 17 8.50 -212 2.18 2.55 0.79 3.09 -82 -14
Consolidated Net Income / (Loss)		 29 17 8.50 -212 2.18 2.55 0.79 3.09 -82 -14
Provision For Loan Losses		 -0.02 1.61 0.42 1.81 -1.20 0.60 0.58 -0.50 0.36 21
Depreciation Expense		 1.04 0.98 1.10 1.05 1.08 1.19 1.19 1.19 1.22 1.15
Amortization Expense		 0.91 0.85 0.88 0.84 -2.25 -3.23 -10 -0.21 0.91 0.53
Non-Cash Adjustments to Reconcile Net Income		 -0.20 0.31 3.03 218 -9.78 0.53 -3.92 -3.04 81 -9.93
Changes in Operating Assets and Liabilities, net		 -0.86 -20 -4.14 7.53 26 -36 19 -9.64 13 -19
Net Cash From Investing Activities		 -893 -342 44 157 -310 241 8.41 -285 -67 631
Net Cash From Continuing Investing Activities		 -893 -342 44 157 -310 241 8.41 -285 -67 631
Purchase of Property, Leasehold Improvements and Equipment		 -0.48 -0.58 -2.49 -0.11 -3.70 -1.91 -1.29 -0.25 -0.83 -0.36
Purchase of Investment Securities		 -944 -366 -33 39 -623 -50 -1,148 -430 -207 241
Sale of Property, Leasehold Improvements and Equipment		 - - 0.00 - - - 0.00 2.04 0.04 0.01
Sale and/or Maturity of Investments		 52 25 80 118 317 293 1,157 143 141 390
Net Cash From Financing Activities		 1,008 679 607 -565 186 301 246 128 -262 -700
Net Cash From Continuing Financing Activities		 1,008 679 607 -565 186 301 246 128 -262 -700
Net Change in Deposits		 11 813 -311 755 5.21 -123 -50 117 -452 -434
Issuance of Debt		 0.02 85,902 995 -995 87,506 -87,506 284 2,509 0.02 0.01
Repayment of Debt		 1,003 -86,229 -70 -29 -87,419 87,931 12 -2,498 -25 -266
Repurchase of Common Equity		 - -1.05 -0.53 - -0.00 -0.00 -0.14 - - -0.01
Payment of Dividends		 -6.20 -6.20 -6.20 -1.13 -1.13 -0.56 -0.57 -0.57 0.00 0.00
Cash Interest Paid		 22 44 66 77 81 106 15 166 99 120
Cash Income Taxes Paid		 8.52 10.00 - - - -5.48 - - -0.07 -0.02

Annual Balance Sheets for First Foundation

This table presents First Foundation's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 13,014 13,327 12,645
Cash and Due from Banks		 656 1,327 1,016
Trading Account Securities		 1,100 1,493 3,317
Loans and Leases, Net of Allowance		 10,692 10,149 7,909
Loans and Leases		 10,726 10,178 7,941
Allowance for Loan and Lease Losses		 34 29 32
Premises and Equipment, Net		 36 40 36
Intangible Assets		 6.58 4.95 3.56
Other Assets		 307 314 364
Total Liabilities & Shareholders' Equity		 13,014 13,327 12,645
Total Liabilities		 11,880 12,402 11,592
Non-Interest Bearing Deposits		 10,363 10,689 9,870
Long-Term Debt		 1,370 1,582 1,599
Other Long-Term Liabilities		 147 131 123
Total Equity & Noncontrolling Interests		 1,134 925 1,053
Total Preferred & Common Equity		 1,134 925 1,053
Preferred Stock		 - 0.00 88
Total Common Equity		 1,134 925 966
Common Stock		 720 721 850
Retained Earnings		 427 219 125
Accumulated Other Comprehensive Income / (Loss)		 -12 -14 -8.92

Quarterly Balance Sheets for First Foundation

This table presents First Foundation's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 12,329 13,616 12,841 13,052 13,586 13,714 13,377
Cash and Due from Banks		 318 1,317 926 819 1,588 1,421 1,106
Trading Account Securities		 1,123 1,071 1,024 1,631 1,579 1,867 3,829
Loans and Leases, Net of Allowance		 10,323 10,639 10,554 10,254 10,057 10,058 8,060
Loans and Leases		 10,355 10,670 10,585 10,283 10,086 10,087 8,089
Allowance for Loan and Lease Losses		 33 31 31 29 29 29 29
Premises and Equipment, Net		 37 38 37 39 40 37 37
Intangible Assets		 222 221 5.73 5.34 4.58 4.22 3.89
Other Assets		 307 331 294 303 318 327 341
Total Liabilities & Shareholders' Equity		 12,329 13,616 12,841 13,052 13,586 13,714 13,377
Total Liabilities		 11,207 12,482 11,925 12,132 12,658 12,781 12,307
Non-Interest Bearing Deposits		 9,550 10,052 10,807 10,812 10,639 10,756 10,305
Long-Term Debt		 1,496 2,295 976 1,158 1,879 1,890 1,865
Other Long-Term Liabilities		 161 136 142 162 140 135 137
Total Equity & Noncontrolling Interests		 1,122 1,134 916 919 929 933 1,070
Total Preferred & Common Equity		 1,122 1,134 916 919 929 933 1,070
Preferred Stock		 - - - - - - 130
Total Common Equity		 1,122 1,134 916 919 929 933 940
Common Stock		 720 719 720 720 721 722 806
Retained Earnings		 416 429 216 217 219 221 139
Accumulated Other Comprehensive Income / (Loss)		 -14 -15 -20 -18 -11 -9.95 -5.49

Annual Metrics And Ratios for First Foundation

This table displays calculated financial ratios and metrics derived from First Foundation's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 20.80% -31.41% -53.60%
EBITDA Growth		 -0.06% -226.45% 28.90%
EBIT Growth		 -1.31% -233.55% 31.33%
NOPAT Growth		 0.91% -226.72% 31.33%
Net Income Growth		 0.91% -280.13% 53.58%
EPS Growth		 -18.67% -280.10% 60.06%
Operating Cash Flow Growth		 4.70% -92.19% -210.85%
Free Cash Flow Firm Growth		 -459.94% 87.18% -67.61%
Invested Capital Growth		 96.54% 0.14% 5.76%
Revenue Q/Q Growth		 1.71% -9.22% 7.66%
EBITDA Q/Q Growth		 -6.59% -14.05% -15.93%
EBIT Q/Q Growth		 -7.07% -11.54% -20.33%
NOPAT Q/Q Growth		 -5.57% -11.54% -20.33%
Net Income Q/Q Growth		 -5.57% -8.04% -21.99%
EPS Q/Q Growth		 -8.84% -8.28% -24.78%
Operating Cash Flow Q/Q Growth		 -20.11% -81.57% 63.49%
Free Cash Flow Firm Q/Q Growth		 34.98% -134.50% 74.35%
Invested Capital Q/Q Growth		 -4.36% 20.75% -9.63%
Profitability Metrics		 - - -
EBITDA Margin		 42.98% -79.24% -121.42%
EBIT Margin		 40.83% -79.50% -117.65%
Profit (Net Income) Margin		 30.12% -79.10% -79.13%
Tax Burden Percent		 73.77% 99.50% 67.26%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 26.23% 0.00% 0.00%
Return on Invested Capital (ROIC)		 5.85% -5.59% -3.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.85% -9.59% -3.49%
Return on Net Nonoperating Assets (RNNOA)		 4.20% -13.74% -5.61%
Return on Equity (ROE)		 10.05% -19.33% -9.34%
Cash Return on Invested Capital (CROIC)		 -59.26% -5.73% -9.32%
Operating Return on Assets (OROA)		 1.29% -1.52% -1.06%
Return on Assets (ROA)		 0.95% -1.51% -0.71%
Return on Common Equity (ROCE)		 10.05% -19.33% -8.93%
Return on Equity Simple (ROE_SIMPLE)		 9.74% -21.51% -8.77%
Net Operating Profit after Tax (NOPAT)		 111 -140 -96
NOPAT Margin		 30.12% -55.65% -82.35%
Net Nonoperating Expense Percent (NNEP)		 0.00% 4.00% -0.24%
SG&A Expenses to Revenue		 39.92% 48.12% 103.98%
Operating Expenses to Revenue		 59.03% 179.69% 199.92%
Earnings before Interest and Taxes (EBIT)		 150 -200 -137
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 158 -199 -142
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.70 0.59 0.53
Price to Tangible Book Value (P/TBV)		 0.87 0.59 0.53
Price to Revenue (P/Rev)		 2.16 2.16 4.38
Price to Earnings (P/E)		 7.19 0.00 0.00
Dividend Yield		 3.12% 2.69% 0.64%
Earnings Yield		 13.91% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.60 0.32 0.45
Enterprise Value to Revenue (EV/Rev)		 4.11 3.18 10.12
Enterprise Value to EBITDA (EV/EBITDA)		 9.56 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 10.06 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 13.64 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.86 101.03 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 1.21 1.71 1.52
Long-Term Debt to Equity		 1.21 1.71 1.52
Financial Leverage		 0.72 1.43 1.61
Leverage Ratio		 10.56 12.79 13.13
Compound Leverage Factor		 10.56 12.79 13.13
Debt to Total Capital		 54.70% 63.10% 60.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 54.70% 63.10% 60.28%
Preferred Equity to Total Capital		 0.00% 0.00% 3.30%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 45.30% 36.90% 36.41%
Debt to EBITDA		 8.69 -7.94 -11.28
Net Debt to EBITDA		 4.52 -1.28 -4.11
Long-Term Debt to EBITDA		 8.69 -7.94 -11.28
Debt to NOPAT		 12.40 -11.30 -16.63
Net Debt to NOPAT		 6.46 -1.83 -6.06
Long-Term Debt to NOPAT		 12.40 -11.30 -16.63
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 4.43%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -1,120 -144 -241
Operating Cash Flow to CapEx		 8,492.89% 96.50% -1,374.65%
Free Cash Flow to Firm to Interest Expense		 -13.14 -0.39 -0.56
Operating Cash Flow to Interest Expense		 1.19 0.02 -0.02
Operating Cash Flow Less CapEx to Interest Expense		 1.18 0.00 -0.02
Efficiency Ratios		 - - -
Asset Turnover		 0.03 0.02 0.01
Fixed Asset Turnover		 9.91 6.62 3.08
Capital & Investment Metrics		 - - -
Invested Capital		 2,504 2,508 2,652
Invested Capital Turnover		 0.19 0.10 0.05
Increase / (Decrease) in Invested Capital		 1,230 3.48 144
Enterprise Value (EV)		 1,508 801 1,182
Market Capitalization		 794 545 511
Book Value per Share		 $20.12 $16.39 $11.73
Tangible Book Value per Share		 $16.18 $16.31 $11.68
Total Capital		 2,504 2,508 2,652
Total Debt		 1,370 1,582 1,599
Total Long-Term Debt		 1,370 1,582 1,599
Net Debt		 713 256 583
Capital Expenditures (CapEx)		 1.20 8.21 0.64
Net Nonoperating Expense (NNE)		 0.00 59 -3.76
Net Nonoperating Obligations (NNO)		 1,370 1,582 1,599
Total Depreciation and Amortization (D&A)		 7.88 0.66 -4.40
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.96 ($3.53) ($1.41)
Adjusted Weighted Average Basic Shares Outstanding		 56.42M 56.43M 65.60M
Adjusted Diluted Earnings per Share		 $1.96 ($3.53) ($1.41)
Adjusted Weighted Average Diluted Shares Outstanding		 56.49M 56.43M 65.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 56.35M 56.47M 82.37M
Normalized Net Operating Profit after Tax (NOPAT)		 111 11 -96
Normalized NOPAT Margin		 30.12% 4.22% -82.35%
Pre Tax Income Margin		 40.83% -79.50% -117.65%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 1.76 -0.54 -0.32
NOPAT to Interest Expense		 1.30 -0.38 -0.22
EBIT Less CapEx to Interest Expense		 1.74 -0.56 -0.32
NOPAT Less CapEx to Interest Expense		 1.28 -0.40 -0.23
Payout Ratios		 - - -
Dividend Payout Ratio		 22.47% -4.53% -1.22%
Augmented Payout Ratio		 26.65% -4.80% -1.38%

Quarterly Metrics And Ratios for First Foundation

This table displays calculated financial ratios and metrics derived from First Foundation's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 11.12% 8.12% -21.65% -35.86% -36.14% -31.21% -27.51% -5.86% -188.54% 14.74%
EBITDA Growth		 -22.36% -32.82% -71.34% -528.26% -98.99% -107.89% -173.43% 101.73% -27,639.57% -1,084.69%
EBIT Growth		 -23.81% -35.25% -75.18% -559.88% -96.00% -98.82% -101.09% 101.25% -7,503.04% -9,357.66%
NOPAT Growth		 -22.08% -27.32% -72.45% -546.67% -92.48% -85.32% -100.96% 102.07% -3,855.85% -730.74%
Net Income Growth		 -22.08% -27.32% -72.45% -737.20% -92.48% -85.32% -90.67% 101.45% -3,869.45% -653.81%
EPS Growth		 -38.55% -38.00% -72.73% -737.29% -92.16% -87.10% -93.33% 101.33% -3,175.00% -700.00%
Operating Cash Flow Growth		 1.34% -95.34% -75.74% -44.90% -46.92% -2,843.31% -26.31% -155.14% -10.36% 38.45%
Free Cash Flow Firm Growth		 -983.70% -324.66% -208.82% 45.23% 130.04% 99.92% 130.86% -109.60% -272.83% -17,080.55%
Invested Capital Growth		 235.98% 96.54% 143.40% 18.44% -20.68% 0.14% -18.10% 49.29% 41.30% 5.76%
Revenue Q/Q Growth		 4.89% -17.94% -14.02% -13.33% 4.43% -11.61% -9.40% 12.57% -198.22% 214.55%
EBITDA Q/Q Growth		 -15.68% -45.11% -44.34% -1,762.05% 100.20% -530.70% -418.32% 139.14% -3,251.48% 81.47%
EBIT Q/Q Growth		 -14.47% -47.02% -48.93% -2,087.55% 100.74% -84.30% -147.18% 2,376.92% -4,490.69% 80.37%
NOPAT Q/Q Growth		 -12.94% -40.17% -51.04% -1,851.55% 101.46% 16.88% -103.21% 3,866.79% -2,754.06% 80.37%
Net Income Q/Q Growth		 -12.94% -40.17% -51.04% -2,598.68% 101.03% 16.88% -68.88% 289.03% -2,763.66% 82.83%
EPS Q/Q Growth		 -13.56% -39.22% -51.61% -2,606.67% 101.06% 0.00% -75.00% 400.00% -2,560.00% 80.49%
Operating Cash Flow Q/Q Growth		 -0.47% -95.82% 1,103.57% 69.06% -4.13% -316.04% 120.82% -226.50% 255.85% -248.34%
Free Cash Flow Firm Q/Q Growth		 -123.66% 33.00% -65.84% 77.96% 222.67% -100.17% 66,547.12% -249.70% -1.14% 82.92%
Invested Capital Q/Q Growth		 64.00% -4.36% 36.90% -44.84% 9.83% 20.75% 11.96% 0.56% 3.95% -9.63%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 41.55% 27.79% 17.99% -345.05% 0.65% -3.19% -18.23% 6.34% 0.00% -32.90%
EBIT Margin		 39.59% 25.56% 15.18% -348.15% 2.48% 0.44% -0.23% 4.63% 0.00% -35.50%
Profit (Net Income) Margin		 29.05% 21.18% 12.06% -347.65% 3.42% 4.52% 1.55% 5.37% 0.00% -21.82%
Tax Burden Percent		 73.37% 82.86% 79.43% 99.86% 137.97% 1,027.42% -677.78% 115.80% 70.25% 61.46%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 26.63% 17.14% 20.57% 0.00% -37.97% -927.42% 0.00% -15.80% 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.17% 4.11% 1.73% -43.79% 0.40% 0.45% -0.01% 0.52% 0.00% -1.12%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.17% 4.11% 1.73% -52.43% 0.40% 0.45% 0.03% 0.52% 0.00% -1.00%
Return on Net Nonoperating Assets (RNNOA)		 4.93% 2.96% 2.05% -38.16% 0.52% 0.65% 0.06% 0.81% 0.00% -1.61%
Return on Equity (ROE)		 11.10% 7.07% 3.78% -81.95% 0.93% 1.10% 0.05% 1.33% 0.00% -2.73%
Cash Return on Invested Capital (CROIC)		 -101.36% -59.26% -79.87% -22.56% 17.72% -5.73% 15.17% -39.18% -37.42% -9.32%
Operating Return on Assets (OROA)		 1.42% 0.81% 0.44% -9.06% 0.05% 0.01% 0.00% 0.08% 0.00% -0.32%
Return on Assets (ROA)		 1.04% 0.67% 0.35% -9.04% 0.07% 0.09% 0.03% 0.09% 0.00% -0.20%
Return on Common Equity (ROCE)		 11.10% 7.07% 3.78% -81.95% 0.93% 1.10% 0.05% 1.33% 0.00% -2.61%
Return on Equity Simple (ROE_SIMPLE)		 10.43% 0.00% 7.78% -17.20% -20.05% 0.00% -22.26% 0.92% -7.08% 0.00%
Net Operating Profit after Tax (NOPAT)		 29 17 8.50 -149 2.18 2.55 -0.08 3.09 -82 -16
NOPAT Margin		 29.05% 21.18% 12.06% -243.70% 3.42% 4.52% -0.16% 5.37% 0.00% -24.85%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 8.64% 0.00% 0.00% -0.04% 0.00% 0.02% -0.12%
SG&A Expenses to Revenue		 39.18% 39.66% 48.52% 49.47% 45.29% 49.37% 55.80% 48.92% 0.00% 55.32%
Operating Expenses to Revenue		 60.43% 73.01% 84.23% 446.69% 100.68% 99.15% 99.10% 96.77% 0.00% 103.57%
Earnings before Interest and Taxes (EBIT)		 40 21 11 -213 1.58 0.25 -0.12 2.66 -117 -23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 41 23 13 -211 0.42 -1.80 -9.31 3.64 -115 -21
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.89 0.70 0.37 0.24 0.37 0.59 0.46 0.40 0.45 0.53
Price to Tangible Book Value (P/TBV)		 1.11 0.87 0.46 0.24 0.37 0.59 0.46 0.40 0.45 0.53
Price to Revenue (P/Rev)		 2.77 2.16 1.20 0.71 1.23 2.16 1.83 1.62 3.90 4.38
Price to Earnings (P/E)		 8.53 7.19 4.71 0.00 0.00 0.00 0.00 43.01 0.00 0.00
Dividend Yield		 2.37% 3.12% 5.97% 8.87% 4.29% 2.69% 0.66% 0.61% 0.64% 0.64%
Earnings Yield		 11.73% 13.91% 21.22% 0.00% 0.00% 0.00% 0.00% 2.33% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.60 0.41 0.14 0.33 0.32 0.26 0.30 0.45 0.45
Enterprise Value to Revenue (EV/Rev)		 6.03 4.11 4.01 0.87 2.46 3.18 3.08 3.67 12.10 10.12
Enterprise Value to EBITDA (EV/EBITDA)		 12.89 9.56 11.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 13.50 10.06 11.86 0.00 0.00 0.00 0.00 191.69 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 18.60 13.64 15.80 0.00 0.00 0.00 0.00 97.45 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.13 14.86 19.76 4.77 15.84 101.03 220.65 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 1.64 0.00 1.51 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.33 1.21 2.02 1.07 1.26 1.71 2.02 2.03 1.74 1.52
Long-Term Debt to Equity		 1.33 1.21 2.02 1.07 1.26 1.71 2.02 2.03 1.74 1.52
Financial Leverage		 0.80 0.72 1.18 0.73 1.30 1.43 2.02 1.55 1.52 1.61
Leverage Ratio		 10.62 10.56 10.87 11.93 12.43 12.79 13.19 14.36 13.29 13.13
Compound Leverage Factor		 10.62 10.56 10.87 11.93 12.43 12.79 13.19 14.36 13.29 13.13
Debt to Total Capital		 57.15% 54.70% 66.93% 51.59% 55.74% 63.10% 66.92% 66.94% 63.55% 60.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 57.15% 54.70% 66.93% 51.59% 55.74% 63.10% 66.92% 66.94% 63.55% 60.28%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.44% 3.30%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 42.85% 45.30% 33.07% 48.41% 44.26% 36.90% 33.08% 33.06% 32.02% 36.41%
Debt to EBITDA		 8.86 8.69 18.19 -7.29 -6.62 -7.94 -8.49 -268.31 -15.25 -11.28
Net Debt to EBITDA		 6.98 4.52 7.75 -0.37 -1.94 -1.28 -1.31 -66.51 -6.20 -4.11
Long-Term Debt to EBITDA		 8.86 8.69 18.19 -7.29 -6.62 -7.94 -8.49 -268.31 -15.25 -11.28
Debt to NOPAT		 12.79 12.40 26.02 -9.86 -9.22 -11.30 -12.73 219.61 -23.33 -16.63
Net Debt to NOPAT		 10.07 6.46 11.09 -0.50 -2.70 -1.83 -1.97 54.44 -9.49 -6.06
Long-Term Debt to NOPAT		 12.79 12.40 26.02 -9.86 -9.22 -11.30 -12.73 219.61 -23.33 -16.63
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.43%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,810 -1,213 -2,011 -443 544 -0.93 621 -929 -940 -160
Operating Cash Flow to CapEx		 6,173.76% 216.84% 392.34% 15,177.06% 428.65% -1,795.81% 561.60% 0.00% 1,799.62% -5,940.85%
Free Cash Flow to Firm to Interest Expense		 -85.89 -23.64 -25.71 -4.60 5.87 -0.01 5.54 -8.68 -8.70 -1.59
Operating Cash Flow to Interest Expense		 1.42 0.02 0.13 0.17 0.17 -0.33 0.06 -0.09 0.13 -0.21
Operating Cash Flow Less CapEx to Interest Expense		 1.39 0.01 0.09 0.17 0.13 -0.35 0.05 -0.07 0.12 -0.21
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.01 0.01
Fixed Asset Turnover		 16.14 9.91 9.46 8.50 7.31 6.62 5.99 6.21 2.86 3.08
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,618 2,504 3,428 1,891 2,077 2,508 2,808 2,823 2,935 2,652
Invested Capital Turnover		 0.21 0.19 0.14 0.18 0.12 0.10 0.07 0.10 0.04 0.05
Increase / (Decrease) in Invested Capital		 1,839 1,230 2,020 294 -542 3.48 -621 932 858 144
Enterprise Value (EV)		 2,176 1,508 1,393 272 681 801 716 839 1,312 1,182
Market Capitalization		 998 794 415 223 342 545 425 370 423 511
Book Value per Share		 $19.90 $20.12 $20.12 $16.23 $16.29 $16.39 $16.44 $16.51 $13.85 $11.73
Tangible Book Value per Share		 $15.96 $16.18 $16.19 $16.12 $16.19 $16.31 $16.36 $16.44 $13.79 $11.68
Total Capital		 2,618 2,504 3,428 1,891 2,077 2,508 2,808 2,823 2,935 2,652
Total Debt		 1,496 1,370 2,295 976 1,158 1,582 1,879 1,890 1,865 1,599
Total Long-Term Debt		 1,496 1,370 2,295 976 1,158 1,582 1,879 1,890 1,865 1,599
Net Debt		 1,179 713 977 49 339 256 291 468 758 583
Capital Expenditures (CapEx)		 0.48 0.58 2.49 0.11 3.70 1.91 1.28 -1.79 0.79 0.36
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 63 0.00 0.00 -0.87 0.00 0.30 -1.96
Net Nonoperating Obligations (NNO)		 1,496 1,370 2,295 976 1,158 1,582 1,879 1,890 1,865 1,599
Total Depreciation and Amortization (D&A)		 1.95 1.83 1.98 1.89 -1.16 -2.04 -9.19 0.98 2.13 1.68
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.51 $0.31 $0.15 ($3.76) $0.04 $0.04 $0.01 $0.05 ($1.23) ($0.24)
Adjusted Weighted Average Basic Shares Outstanding		 56.39M 56.42M 56.38M 56.43M 56.44M 56.43M 56.48M 56.52M 66.99M 65.60M
Adjusted Diluted Earnings per Share		 $0.51 $0.31 $0.15 ($3.76) $0.04 $0.04 $0.01 $0.05 ($1.23) ($0.24)
Adjusted Weighted Average Diluted Shares Outstanding		 56.45M 56.49M 56.41M 56.43M 56.45M 56.43M 56.50M 56.53M 66.99M 65.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 56.39M 56.35M 56.42M 56.44M 56.44M 56.47M 56.51M 67.85M 82.35M 82.37M
Normalized Net Operating Profit after Tax (NOPAT)		 29 17 8.50 1.86 1.11 0.17 -0.08 1.86 -82 -16
Normalized NOPAT Margin		 29.05% 21.18% 12.06% 3.05% 1.73% 0.31% -0.16% 3.24% 0.00% -24.85%
Pre Tax Income Margin		 39.59% 25.56% 15.18% -348.15% 2.48% 0.44% -0.23% 4.63% 0.00% -35.50%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1.88 0.41 0.14 -2.21 0.02 0.00 0.00 0.02 -1.08 -0.23
NOPAT to Interest Expense		 1.38 0.34 0.11 -1.54 0.02 0.02 0.00 0.03 -0.76 -0.16
EBIT Less CapEx to Interest Expense		 1.85 0.40 0.10 -2.21 -0.02 -0.02 -0.01 0.04 -1.09 -0.23
NOPAT Less CapEx to Interest Expense		 1.35 0.33 0.08 -1.55 -0.02 0.01 -0.01 0.05 -0.77 -0.16
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 19.41% 22.47% 28.15% -12.53% -7.96% -4.53% -1.64% 32.83% -2.24% -1.22%
Augmented Payout Ratio		 22.92% 26.65% 32.73% -13.54% -8.81% -4.80% -1.71% 34.52% -2.43% -1.38%

Key Financial Trends

First Foundation Inc. (NASDAQ: FFWM) has shown mixed financial performance over the past four years, with clear volatility in profitability and net income most recently while maintaining steady asset growth. Below is an analysis of key trends and financial developments based on their quarterly financial data.

  • Net Interest Income remained consistently positive, reflecting strong core banking operations: for example, Q4 2024 reported $51.3 million net interest income, improving from weaker quarters earlier in 2024.
  • Total assets have generally increased over the past two years, growing from approximately $12.3 billion in Q3 2022 to about $13.4 billion in Q3 2024, showing steady balance sheet expansion.
  • Allowance for loan and lease losses remained relatively stable around $29-$31 million recently, suggesting controlled credit risk as of the latest quarters.
  • Provision for credit losses fluctuated significantly quarter-to-quarter, such as a $20.6 million provision in Q4 2024 versus small positive or negative amounts in prior quarters, indicating sensitivity to credit conditions or portfolio changes.
  • Non-interest income experienced volatility, with occasional heavy negative impacts such as Q3 2024's -$105.6 million total non-interest income largely driven by -$117.5 million other non-interest income, suggesting one-time or unusual events affecting revenues beyond core operations.
  • Operating expenses remained substantial and somewhat stable, with salaries, occupancy, and other operating expenses collectively exceeding $66 million in Q4 2024, reflecting ongoing cost structure pressures.
  • The company has reported losses in recent quarters: Q4 2024 net loss of $14.1 million, and a significant Q3 2024 net loss of $82.2 million, marking a sharp deterioration compared to prior years with consistent quarterly profits around $2-8 million from 2022 through early 2024.
  • Cash flow from operating activities turned negative in Q4 2024 (-$21.1 million) and sharply negative in Q3 2024 (-$21.1 million), indicating cash challenges despite asset growth.
  • Significant net cash outflows from financing activities in Q4 2024 (-$700 million) and Q3 2024 (-$262 million) raise concerns about liabilities management and capital returns amid losses.
  • Basic and diluted EPS turned negative in the last two quarters: -$0.24 in Q4 2024, compared to positive but small earnings earlier, highlighting the impact of losses on shareholder value.

Summary:

First Foundation’s core interest income remains robust with a growing asset base and controlled loan loss provisions, which are positive signs. However, recent quarters reveal significant operational challenges, with large impairments or one-time charges in non-interest income and sharply negative net income and cash flows. This deterioration in profitability and increases in financing outflows are potential warning signs signaling the company may be facing headwinds such as credit risk fallout, higher operating costs, or investment losses. Retail investors should monitor upcoming quarters for signs of stabilization in revenue and expense trends and assess management’s strategy to restore profitability and positive cash flow.

08/08/25 01:26 PMAI Generated. May Contain Errors.

Frequently Asked Questions About First Foundation's Financials

When does First Foundation's financial year end?

According to the most recent income statement we have on file, First Foundation's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has First Foundation's net income changed over the last 2 years?

First Foundation's net income appears to be on an upward trend, with a most recent value of -$92.41 million in 2024, falling from $110.51 million in 2022. The previous period was -$199.06 million in 2023. Check out First Foundation's forecast to explore projected trends and price targets.

How has First Foundation's revenue changed over the last 2 years?

Over the last 2 years, First Foundation's total revenue changed from $366.92 million in 2022 to $116.77 million in 2024, a change of -68.2%.

How much debt does First Foundation have?

First Foundation's total liabilities were at $11.59 billion at the end of 2024, a 6.5% decrease from 2023, and a 2.4% decrease since 2022.

How much cash does First Foundation have?

In the past 2 years, First Foundation's cash and equivalents has ranged from $656.49 million in 2022 to $1.33 billion in 2023, and is currently $1.02 billion as of their latest financial filing in 2024.

How has First Foundation's book value per share changed over the last 2 years?

Over the last 2 years, First Foundation's book value per share changed from 20.12 in 2022 to 11.73 in 2024, a change of -41.7%.


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This page (NASDAQ:FFWM) was last updated on 8/8/2025 by MarketBeat.com Staff
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