First Foundation Inc. (FFWM) Financial Statements (2025 and earlier)

Company Profile

Business Address 18101 VON KARMAN AVE
IRVINE, CA 92612
State of Incorp. CA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,338,397666,2611,137,782630,04565,82167,664
Cash and cash equivalents1,326,629656,4941,121,757629,70765,38767,312
Short-term investments11,7689,76716,025338434352
Financing receivable, excluding accrued interest, after allowance for credit loss5,700,000  
Total current assets:7,038,397666,2611,137,782630,04565,82167,664
Noncurrent Assets
Operating lease, right-of-use asset 26,45531,21019,38414,38716,433
Property, plant and equipment39,92536,14037,9208,0128,3559,145
Intangible assets, net (including goodwill), including:4,948221,835222,12595,29697,19199,482
Intangible assets, net (excluding goodwill)4,948     
Other undisclosed intangible assets, net (including goodwill)  221,835222,12595,29697,19199,482
Deferred income tax assets29,14224,19820,8358,603 
Investment, proportional amortization method, elected, amount 85,20088,50059,000   
Total noncurrent assets:185,670401,883359,264126,298121,979108,627
Other undisclosed assets6,103,18111,946,0358,699,1586,200,8176,126,6365,664,121
TOTAL ASSETS:13,327,24813,014,17910,196,2046,957,1606,314,4365,840,412
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt100,000     
Total current liabilities:100,000     
Noncurrent Liabilities
Liabilities, other than long-term debt 43,90060,90045,200   
Investment program, proportional amortization method, elected, commitment 43,90060,90045,200   
Total noncurrent liabilities: 43,90060,90045,200   
Other undisclosed liabilities12,258,00511,818,9019,086,9536,261,4495,700,5675,281,228
Total liabilities:12,401,90511,879,8019,132,1536,261,4495,700,5675,281,228
Equity
Equity, attributable to parent925,3431,134,3781,064,051695,711613,869559,184
Preferred stock      
Common stock565656454544
Additional paid in capital720,899719,606720,744433,941433,775431,832
Accumulated other comprehensive income (loss)(14,187)(11,943)2,27514,0874,276(1,153)
Retained earnings218,575426,659340,976247,638175,773128,461
Total equity:925,3431,134,3781,064,051695,711613,869559,184
TOTAL LIABILITIES AND EQUITY:13,327,24813,014,17910,196,2046,957,1606,314,4365,840,412

Income Statement (P&L) ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues536,083377,467248,242233,343227,974190,870
Net investment income533,779377,467226,783218,203223,756190,451
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (532)(3,866)(6,746)(2,637)(4,220)
Gross profit:536,083376,935244,376226,597225,337186,650
Operating expenses (49,896)(37,201)(31,937)(28,322)(28,362)
Other operating income, net
(Noninterest Income, Other Operating Income)
11,7759,44712,97210,0428,9006,604
Operating income:547,858336,486220,147204,702205,915164,892
Interest and debt expense(371,386)(85,188)(13,934)(47,247)(78,806)(51,696)
Income from continuing operations before equity method investments, income taxes:176,472251,298206,213157,455127,109113,196
Other undisclosed loss from continuing operations before income taxes(376,536)(101,495)(54,428)(38,688)(47,610)(53,110)
Income (loss) from continuing operations before income taxes:(200,064)149,803151,785118,76779,49960,086
Income tax expense (benefit)1,000(39,291)(42,274)(34,398)(23,260)(17,128)
Income (loss) from continuing operations:(199,064)110,512109,51184,36956,23942,958
Income before gain (loss) on sale of properties:109,51184,36956,23942,958
Net income (loss) available to common stockholders, diluted:(199,064)110,512109,51184,36956,23942,958

Comprehensive Income ($ in thousands)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(199,064)110,512109,51184,36956,23942,958
Other comprehensive income (loss)(2,244)(14,218)(11,812)9,8115,4293,938
Comprehensive income (loss), net of tax, attributable to parent:(201,308)96,29497,69994,18061,66846,896

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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