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First Foundation Inc. is a financial services company that provides personal and commercial banking services. First Foundation, formerly known as First California Financial Group, changed its name to First Foundation Inc. in July 2013. headquarters in Irvine, California.
The company's principal subsidiary is First Foundation Bank, which was previously known as First California Bank. First Foundation Bank, founded in 1998, provides a wide range of financial services, including consumer and commercial deposit accounts, home loans, and mortgages, and First Foundation Insurance Services, which provides surety bonds.
The bank has 25 full-service branches in California, including locations in Los Angeles county and regions of California such as Orange, Riverside, San Bernardino, San Diego, and Santa Barbara counties. It also has offices in Nevada, Arizona, and Colorado.
As of September 30, 2922, the company had assets of 24.41 billion USD, net loans of 17.93 billion USD, and deposits of 19.73 billion USD. It employed 735 full-time staff as of the same period.
Recent news.
First Foundation, Inc. (NASDAQ:FFWM) announced on November 2, 2022, that it will release its third-quarter 2022 financial results before the market opens on Monday, October 31, 2022.
Stock information:
As of Oct. 18, 2022, the stock logo is FCS.B, the previous close 16.34 USD, the opening price was 16.34 USD, the high was 16.82 USD, the low was 15.26 USD, and the volume was 26,493. The P/E ratio is 12.95. The company's market capitalization is 1.349 billion USD.
Earnings 8,34. On September 1, 2022, First Foundation announced net income of $17.6 million, or $0.29 per diluted share, for the second quarter ended June 30, 2022. This compares to net income of $10.9 million, or $0.18 per diluted share, for the first quarter of 2022, and net income of $14.3 million, or $0.23 for the second quarter of 2022.
Future outlook.
It has been reaffirmed that First Foundation operates in a highly competitive market and that the company's investment portfolio contains investment securities that are primarily classified as "available-for-sale." As a result of being exposed to many risks, the values of these securities may decline. A decline in the value of the investment portfolio may force First Foundation to recognize investment losses in the income statement, lowering earnings or increasing expenses.