Primera Fundación Inc. (FFWM): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

First Foundation Inc. (FFWM) surge como una potencia financiera sofisticada, navegando estratégicamente el complejo panorama de la banca y la gestión de patrimonio con un enfoque centrado en el láser que combina tecnología de vanguardia, servicio personalizado y profundas raíces comunitarias. Al elaborar meticulosamente un modelo de negocio innovador que abarca la banca comercial, el asesoramiento de la riqueza y las soluciones financieras estratégicas, esta institución con sede en California se distingue a través de un ecosistema holístico diseñado para capacitar a las personas, empresas y empresas locales de alto nivel con las empresas con las empresas locales con integrales, adaptadas, a medida Estrategias financieras que trascienden los paradigmas bancarios tradicionales.

First Foundation Inc. (FFWM) - Modelo de negocio: asociaciones clave

Proveedores de tecnología bancaria

First Foundation Inc. se asocia con los siguientes proveedores de tecnología bancaria:

Proveedor	Enfoque tecnológico	Detalles de la asociación
Fiserv, Inc.	Sistemas bancarios centrales	Procesamiento central y soluciones de banca digital
Jack Henry & Asociado	Software bancario	Plataformas de tecnología bancaria de nivel empresarial

Instituciones financieras regionales

Las asociaciones clave de la institución financiera regional incluyen:

Institución	Tipo de asociación	Cobertura geográfica
Pacific Western Bank	Colaboración de préstamos	California y el oeste de los Estados Unidos
Silicon Valley Bank	Red de banca comercial	Enfoque del sector de tecnología e innovación

Plataformas de software de gestión de patrimonio

Asociaciones de software de gestión de patrimonio de First Foundation:

• Plataforma de gestión de patrimonio de Addopar
• Plataforma de riqueza de diamantes negros
• Software de gestión de inversiones de Morningstar

Redes de inversión inmobiliaria comerciales

Detalles de la asociación de inversión inmobiliaria:

Red	Enfoque de inversión	Alcance de la asociación
CBRE Group, Inc.	Inversiones de propiedades comerciales	Aviso de inversiones inmobiliarias nacionales
Marco & Millicap	Corretaje inmobiliario	Ventas de inversión y financiamiento

Seguros y empresas de gestión de riesgos

Gestión de riesgos y asociaciones de seguro:

Firme	Tipo de servicio	Características de la asociación
Arthur J. Gallagher & Co.	Corretaje de seguros comerciales	Soluciones de gestión de riesgos y seguros
Willis Towers Watson	Servicios de asesoramiento global	Consultoría de gestión de riesgos empresariales

First Foundation Inc. (FFWM) - Modelo de negocio: actividades clave

Servicios bancarios comerciales y privados

A partir del cuarto trimestre de 2023, First Foundation Inc. reportó activos bancarios totales de $ 7.6 mil millones. La cartera de préstamos bancarios comerciales del banco alcanzó los $ 3.2 mil millones, con un margen de interés neto de 3.85%.

Categoría de servicio bancario	Volumen total (2023)	Ingresos generados
Préstamo comercial	$ 3.2 mil millones	$ 124.5 millones
Banca privada	$ 1.8 mil millones	$ 67.3 millones

Aviso de gestión de patrimonio

First Foundation administra $ 2.9 mil millones en activos de gestión de patrimonio al 31 de diciembre de 2023.

• Tamaño promedio de la cartera del cliente: $ 4.2 millones
• Ingresos de tarifas de gestión de patrimonio total: $ 38.7 millones
• Número de clientes de gestión de patrimonio: 685

Préstamos y financiamiento inmobiliarios

La cartera de préstamos inmobiliarios totalizó $ 1.6 mil millones en 2023, con un enfoque especializado en los mercados de California.

Segmento inmobiliario	Préstamos totales	Tamaño promedio del préstamo
Inmobiliario comercial	$ 1.2 mil millones	$ 6.5 millones
Inmobiliario residencial	$ 400 millones	$ 1.3 millones

Gestión de la cartera de inversiones

El segmento de gestión de inversiones supervisa $ 1.5 mil millones en carteras diversificadas a partir de 2023.

• Inversiones de capital: $ 850 millones
• Inversiones de renta fija: $ 450 millones
• Inversiones alternativas: $ 200 millones

Consultoría financiera y planificación estratégica

Los servicios de consultoría financiera generaron $ 22.6 millones en ingresos durante 2023.

Servicio de consultoría	Ganancia	Segmentos de cliente
Planificación estratégica corporativa	$ 15.3 millones	Compañías del mercado medio
Planificación financiera individual	$ 7.3 millones	Individuos de alto nivel de red

First Foundation Inc. (FFWM) - Modelo de negocio: recursos clave

Equipo experimentado de gestión financiera

A partir del cuarto trimestre de 2023, First Foundation Inc. tiene 284 empleados en total con un equipo de gestión que incluye:

Posición	Nombre	Años de experiencia
CEO	Scott F. Kavanaugh	Más de 25 años
director de Finanzas	Ulrich E. Keller Jr.	Más de 20 años

Infraestructura de banca digital avanzada

Las capacidades de banca digital incluyen:

• Plataforma bancaria en línea
• Aplicación de banca móvil
• Sistema de apertura de cuentas digitales

Transacciones bancarias digitales totales en 2023: 3.2 millones

Fuerte presencia en el mercado de California

Métrica de ubicación	Número
Sucursales bancarias totales	26
Enfoque geográfico primario	California
Activos totales en el mercado de California	$ 14.2 mil millones

Cartera integral de productos financieros

Las ofertas de productos incluyen:

• Servicios de banca comercial
• Banca privada
• Gestión de patrimonio
• Soluciones de préstamo

Valor total de la cartera de préstamos: $ 12.3 mil millones (a partir del cuarto trimestre de 2023)

Sistemas de gestión de riesgos robustos

Métricas de gestión de riesgos:

Indicador de riesgo	Porcentaje
Relación de préstamos sin rendimiento	0.42%
Relación de capital de nivel 1	14.6%
Reserva de pérdida de préstamo	$ 89.4 millones

First Foundation Inc. (FFWM) - Modelo de negocio: propuestas de valor

Soluciones integradas de banca y gestión de patrimonio

First Foundation Inc. ofrece servicios financieros integrales con activos totales de $ 14.8 mil millones a partir del cuarto trimestre de 2023. El banco proporciona soluciones integradas en múltiples segmentos financieros.

Categoría de servicio	Activos totales	Flujo de ingresos
Banca comercial	$ 6.3 mil millones	$ 187.4 millones
Gestión de patrimonio	$ 3.9 mil millones	$ 112.6 millones
Banca privada	$ 4.6 mil millones	$ 98.2 millones

Servicios de asesoramiento financiero personalizado

First Foundation ofrece asesoramiento financiero personalizado con ofertas de servicios especializados.

• Tamaño promedio de la cartera de clientes: $ 2.7 millones
• Número de asesores financieros dedicados: 142
• Tasa de retención del cliente: 87.6%

Enfoque bancario local centrado en la comunidad

Centrado principalmente en California con 23 ubicaciones de sucursales y una fuerte presencia regional.

Región	Número de ramas	Depósitos totales
Sur de California	15	$ 8.6 mil millones
Norte de California	8	$ 5.2 mil millones

Tasas de interés competitivas y opciones de inversión

Ofreciendo productos financieros competitivos con tarifas atractivas.

• Tasa promedio de CD: 4.75%
• Tasa de cuenta del mercado monetario: 3.95%
• Diversidad de productos de inversión: 42 vehículos de inversión diferentes

Apoyo integral de planificación financiera

Servicios de planificación financiera holística con integración tecnológica avanzada.

Servicio de planificación	Clientes anuales atendidos	Costo de planificación promedio
Planificación de jubilación	3,287	$1,850
Planificación patrimonial	1,642	$2,300
Planificación de estrategia fiscal	2,945	$1,675

First Foundation Inc. (FFWM) - Modelo de negocios: relaciones con los clientes

Gerentes de relaciones dedicadas

A partir del cuarto trimestre de 2023, First Foundation Inc. mantiene 87 gerentes de relaciones dedicadas en sus divisiones bancarias y de gestión de patrimonio. La cartera promedio del cliente por gerente de relaciones es de 42 clientes de alto nivel de red.

Métricas de gerente de relaciones	2023 datos
Gerentes de relaciones totales	87
Clientes promedio por gerente	42
Valor promedio de cartera de clientes	$ 3.6 millones

Plataforma de banca digital

La plataforma digital de First Foundation sirve 72,364 usuarios bancarios en línea activos Al 31 de diciembre de 2023. La plataforma admite:

• Monitoreo de cuentas en tiempo real
• Depósito de cheque móvil
• Paneles financieros personalizados
• Mensajes seguros con asesores financieros

Sesiones de revisión financiera

En 2023, el banco realizó 4.216 sesiones integrales de revisión financiera con clientes, con una duración de sesión promedio de 1.3 horas.

Recomendaciones de productos personalizadas

Categoría de productos	Tasa de personalización
Productos de gestión de patrimonio	68%
Soluciones de préstamo	52%
Estrategias de inversión	61%

Canales de atención al cliente

First Foundation proporciona atención al cliente multicanal con las siguientes métricas de 2023:

• Soporte telefónico: 92% de tasa de resolución de primera llamada
• Soporte por correo electrónico: Tiempo de respuesta promedio 4.2 horas
• Chat en línea: 85% Calificación de satisfacción del cliente
• Interacciones de soporte total: 127,543 en 2023

First Foundation Inc. (FFWM) - Modelo de negocio: canales

Plataforma bancaria en línea

First Foundation Inc. reportó 73,246 usuarios de banca en línea activa a partir del cuarto trimestre de 2023. El volumen de transacciones digitales alcanzó $ 1.38 mil millones en 2023. Tasa de cumplimiento de seguridad de la plataforma: 99.97%.

Métricas de plataforma en línea	2023 datos
Usuarios en línea activos	73,246
Volumen de transacción digital	$ 1.38 mil millones
Tiempo de actividad de la plataforma	99.95%

Aplicación de banca móvil

Descargas de aplicaciones móviles: 42,567 en 2023. Usuarios mensuales de banca móvil activa: 38,214. Porcentaje de transacción móvil: 37% de las transacciones digitales totales.

• Descargas de aplicaciones móviles: 42,567
• Usuarios móviles activos mensuales: 38,214
• Porcentaje de transacción móvil: 37%

Red de sucursales físicas en California

Total de ramas: 26 ubicaciones en California. Tráfico a pie de rama diaria promedio: 312 clientes. Red de sucursal Activos totales bajo administración: $ 2.76 mil millones.

Estadísticas de red de sucursales	2023 datos
Total de ramas de California	26
Tráfico promedio de ramas diarias	312 clientes
Activos de la red de sucursales	$ 2.76 mil millones

Equipo de ventas directas

Representantes de ventas totales: 87. Costo promedio de adquisición del cliente: $ 1,247. Generación de ingresos totales del equipo de ventas: $ 124.6 millones en 2023.

• Representantes de ventas totales: 87
• Costo de adquisición del cliente: $ 1,247
• Ingresos del equipo de ventas: $ 124.6 millones

Estrategias de marketing digital y comunicación

Gasto de marketing digital: $ 3.2 millones en 2023. Tasa de participación en las redes sociales: 4.7%. Tasa de apertura de marketing por correo electrónico: 22.3%. Tasa de conversión de publicidad digital: 2.9%.

Métricas de marketing digital	2023 datos
Gasto de marketing	$ 3.2 millones
Compromiso de las redes sociales	4.7%
Tarifa de apertura de correo electrónico	22.3%
Conversión de anuncios digitales	2.9%

First Foundation Inc. (FFWM) - Modelo de negocio: segmentos de clientes

Individuos de alto nivel de red

A partir del cuarto trimestre de 2023, First Foundation Inc. atiende a personas de alto patrimonio con activos que van desde $ 5 millones a $ 50 millones.

Características de segmento	Datos estadísticos
Tamaño promedio de la cuenta	$ 12.7 millones
Porcentaje de la base total de clientes	22.3%
Patrimonio neto mediano	$ 8.4 millones

Empresas pequeñas a medianas

First Foundation Inc. se dirige a las empresas con ingresos anuales entre $ 2 millones y $ 50 millones.

• Total de clientes de PYME: 487
• Tamaño promedio del préstamo comercial: $ 3.6 millones
• Sectores de la industria atendidos: tecnología, atención médica, servicios profesionales

Inversores inmobiliarios

El banco se especializa en financiamiento inmobiliario comercial y residencial.

Segmento inmobiliario	Volumen
Préstamos inmobiliarios totales	$ 624 millones
Tamaño promedio del préstamo	$ 4.2 millones
Porcentaje de cartera de préstamos	38.7%

Proveedores de servicios profesionales

Centrado en abogados, médicos, consultores y otros grupos profesionales.

• Total de clientes profesionales: 312
• Ingresos de práctica profesional promedio: $ 1.8 millones
• Productos bancarios especializados: Financiación de práctica, préstamos de equipos

Empresas comunitarias locales

First Foundation Inc. apoya a empresas locales y organizaciones sin fines de lucro en California.

Categoría de empresa comunitaria	Número de clientes
Empresas locales	276
Organizaciones sin fines de lucro	94
Préstamos comunitarios totales	$ 87.3 millones

First Foundation Inc. (FFWM) - Modelo de negocio: Estructura de costos

Inversiones de infraestructura tecnológica

A partir de 2024, First Foundation Inc. reportó inversiones de infraestructura tecnológica total de $ 12.3 millones.

Categoría de tecnología	Inversión anual ($)
Sistemas bancarios centrales	5,600,000
Infraestructura de ciberseguridad	3,200,000
Computación en la nube	2,100,000
Plataformas de banca digital	1,400,000

Compensación y capacitación de empleados

First Foundation Inc. asignó $ 45.7 millones para gastos relacionados con los empleados en 2024.

Categoría de gastos	Costo anual ($)
Salarios base	38,500,000
Programas de capacitación	3,200,000
Beneficios y bonos	4,000,000

Gastos de cumplimiento regulatorio

Los costos de cumplimiento para First Foundation Inc. totalizaron $ 7.6 millones en 2024.

• Consultoría legal y regulatoria: $ 3,100,000
• Software y herramientas de cumplimiento: $ 2,500,000
• Gastos de auditoría e informes: $ 2,000,000

Costos de marketing y adquisición de clientes

El gasto total de marketing alcanzó los $ 9.2 millones en 2024.

Canal de marketing	Gasto anual ($)
Marketing digital	4,300,000
Publicidad tradicional	2,700,000
Programas de adquisición de clientes	2,200,000

Gastos operativos de rama

Los costos operativos relacionados con la sucursal ascendieron a $ 18.5 millones en 2024.

Categoría de gastos operativos	Costo anual ($)
Alquiler y servicios públicos	7,800,000
SUDEROS DEL PERSONAL DE RAMA	6,500,000
Mantenimiento y operaciones	4,200,000

First Foundation Inc. (FFWM) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos

Para el año fiscal 2023, First Foundation Inc. reportó ingresos por intereses totales de $ 171.7 millones. El desglose de los ingresos por intereses es el siguiente:

Categoría de préstamo	Ingresos de intereses ($ M)
Préstamos inmobiliarios comerciales	82.4
Comercial & Préstamos industriales	45.6
Préstamos hipotecarios residenciales	33.7
Préstamos al consumo	9.9

Tarifas de gestión de patrimonio

Los ingresos por tarifas de gestión de patrimonio para 2023 totalizaron $ 37.5 millones, con la siguiente distribución:

• Servicios de planificación financiera: $ 15.2 millones
• Gestión de la cartera de inversiones: $ 14.8 millones
• Servicios de planificación de fideicomiso y patrimonio: $ 7.5 millones

Servicios de asesoramiento de inversiones

Los ingresos por servicios de asesoramiento de inversiones para 2023 alcanzaron $ 28.3 millones:

Tipo de servicio	Ingresos ($ M)
Asesoramiento corporativo	12.6
Consultoría de inversión individual	9.7
Aviso de planificación de jubilación	6.0

Tarifas de transacción

Los ingresos por tarifas de transacción para 2023 fueron de $ 22.1 millones, compuestos por:

• Tarifas de mantenimiento de la cuenta: $ 8.4 millones
• Tasas de transferencia de cables: $ 5.7 millones
• Tarifas de transacción de cajeros automáticos: $ 4.2 millones
• Tarifas de sobregiro: $ 3.8 millones

Comisiones de gestión de activos

Los ingresos de la Comisión de Gestión de Activos para 2023 totalizaron $ 42.6 millones:

Categoría de gestión de activos	Comisiones ($ M)
Gestión de fondos mutuos	18.9
Gestión de patrimonio privado	14.7
Gestión de activos institucionales	9.0

First Foundation Inc. (FFWM) - Canvas Business Model: Value Propositions

Integrated platform: banking, wealth, and trust services in one place.

First Foundation Inc. provides a comprehensive platform combining personal banking, business banking, private wealth management, investment, trust, insurance, and philanthropy services under one roof. This integration is designed to serve clients throughout their entire financial journey. As of September 30, 2025, the Private Wealth Management and Trust Assets under management (AUM) stood at $5.1 billion. The Bank segment reported total bank assets of $11.9 billion as of the same date.

The scale of the integrated operation is reflected in its geographic footprint, with 31 locations across California, Florida, Hawaii, Nevada, and Texas. The trailing twelve-month revenue as of September 30, 2025, was $196.204 million.

Personalized service aligned with community banks.

The value proposition emphasizes a high level of personalized service, accessibility, and responsiveness, which is more aligned with community banks and boutique wealth management firms, despite offering a broad range of products. This approach aims to foster deep client relationships. The company employs 551 total employees to deliver this service model.

Sophisticated financial solutions comparable to larger institutions.

The financial products and services offered are intentionally broad and consistent with those found at larger financial institutions. This means clients receive sophisticated options without necessarily moving to a massive, impersonal firm. For example, Asset Management and Trust income for the third quarter of 2025 totaled $8.6 million.

Comprehensive financial services for clients at any stage.

First Foundation Inc. is structured to help clients at any stage in their financial lives, from initial growth to legacy preservation. The platform supports this by offering both banking and wealth management segments.

The following table summarizes key financial figures as of late 2025, illustrating the scale of the integrated platform:

Metric	Amount (as of 9/30/2025)	Source Period
Private Wealth Management and Trust AUM	$5.1 billion	Q3 2025
Total Bank Assets	$11.9 billion	Q3 2025
Total Revenue (TTM)	$196.204 million	TTM ending 9/30/2025
Q3 2025 Total Revenue	$63.6 million	Q3 2025
Total Employees	551	2025 Data

Expertise in wealth planning and estate planning.

The offering includes specific expertise in wealth planning and trust services, which are key components of preserving legacy for growth-minded individuals and businesses. The company's structure includes First Foundation Advisors, which offers comprehensive investment management and wealth planning strategies.

• Services include investment, trust, insurance, and philanthropy services.
• Focus on enabling growth-minded individuals and businesses.
• Support for preserving the legacy clients have built.
• Nonperforming assets to total assets ratio was 0.33% as of September 30, 2025.
• Loan to deposit ratio was 83.6% as of September 30, 2025.

First Foundation Inc. (FFWM) - Canvas Business Model: Customer Relationships

You're looking at how First Foundation Inc. (FFWM) keeps its clients close, which is central to their integrated financial services pitch. Honestly, their entire model hinges on making clients feel like they're dealing with a boutique firm, even though they offer the products of a much larger institution. This focus on personal connection is their stated differentiator.

High-touch, personalized service model.

First Foundation Inc. explicitly positions its service style as having a high level of personalized service, accessibility, and responsiveness, which they say is more aligned with community banks and boutique wealth management firms. This isn't just talk; it's backed by the structure of their team. For instance, looking at just one state, they list 66 bankers and advisors in California alone. This density of personnel supports the claim of being readily available to clients across their banking, wealth management, and trust needs.

Dedicated private banking relationship managers.

The structure of their team suggests a move toward dedicated management. While the exact ratio of clients to relationship managers isn't public, the presence of specialized roles like Managing Directors for Equity Investments, Fixed Income, and Alternative Investments, alongside dedicated Wealth Advisors, points to specialized, high-touch service delivery for their clientele. This specialization is key to delivering the sophisticated solutions they promise. The firm's advisors were recognized, with First Foundation Advisors making Barron's list of the top 100 registered investment advisory firms in 2024.

To give you a sense of the scale they are managing with this personalized approach, here are the latest asset figures:

Metric	Date	Amount
Assets Under Management (AUM)	June 30, 2025	$5.3 billion
Trust Assets Under Advisement (AUA)	June 30, 2025	$1.2 billion
AUM (Prior Quarter End)	March 31, 2025	$5.1 billion
Total Assets (Bank)	June 30, 2025	$11.6 billion

Cross-selling between banking and wealth management divisions.

The integrated platform is designed to facilitate this. First Foundation Bank was originally created to serve the clients of its wealth management division. This structural linkage is the engine for cross-selling. The goal is to have clients use both the banking services (deposits, loans) and the wealth management services (investment, trust, philanthropy) under one roof. The firm describes its platform as comprehensive, designed to help clients at any stage in their financial journey.

Long-term relationship building for client retention.

Retention is where the rubber meets the road for a relationship-focused model. You can see the challenge in the Q2 2025 activity: AUM saw $184 million of net withdrawals against $83 million of new accounts. That net outflow suggests that while they are bringing in new business, retaining the existing book is a constant, active effort. The company states its focus is on building long-term relationships built on trust. The health of the loan portfolio, with delinquent and nonaccrual loans at 0.66% of total loans held for investment as of June 30, 2025, is also a reflection of the quality of the relationships they maintain with their borrowers. You need clean books to keep clients confident in the bank side of the offering.

Finance: draft a sensitivity analysis on AUM net flows vs. NIM targets by next Tuesday.

First Foundation Inc. (FFWM) - Canvas Business Model: Channels

You're looking at how First Foundation Inc. gets its services to the client base, which is a mix of physical presence and digital tools, reflecting its dual focus on high-touch service and scale.

The physical footprint supports the integrated model, connecting the banking and wealth advisory arms.

Channel Component	Key Metric/Data Point	As of Date
Physical Offices (High-Growth Markets)	Presence in California, Texas, Florida, Nevada, Hawaii	Late 2025
First Foundation Bank (FFB) Deposits	$8.6 billion	June 30, 2025
First Foundation Bank (FFB) Loan to Deposit Ratio	83.6%	September 30, 2025
First Foundation Advisors (FFA) AUM	$5.1 billion	September 30, 2025
Total Employees	551	Late 2025

The physical offices serve as hubs for the relationship-focused service delivery model.

• Physical offices in high-growth markets: California, Texas (Headquarters), Florida, Nevada, Hawaii.

The structure relies heavily on the two main subsidiaries to deliver the integrated offering.

• First Foundation Bank (FFB): Member FDIC and Equal Housing Lender. NMLS #793235.
• First Foundation Advisors (FFA): SEC-Registered Investment Advisor.
• FFA Private Wealth Management and Trust Assets (AUM) were $5.1 billion as of September 30, 2025.
• FFB total deposits were $8.6 billion as of June 30, 2025.

Digital channels are essential for modern access, even with the emphasis on personalized service. While specific First Foundation Inc. digital adoption rates aren't public, the industry context shows the importance of these tools.

• Industry data suggests over 83% of U.S. adults used digital banking services as of 2025.
• Industry data shows 72% of global banking customers prefer using mobile apps for core banking services.

The direct sales force is the mechanism for acquiring and servicing commercial and private banking clients, often coordinating with the physical office locations.

• The firm offers personal banking, business banking, and private wealth management services.
• The platform is designed to be consistent with larger financial institutions but deliver service aligned with community banks.

First Foundation Inc. (FFWM) - Canvas Business Model: Customer Segments

You're looking at the core groups First Foundation Inc. serves, which are clearly split between wealth management clients and commercial banking clients, though the bank was historically more concentrated in real estate lending.

The Private Wealth Management division targets high-net-worth individuals and families seeking comprehensive financial guidance.

• High-net-worth individuals and families seeking private wealth management.

As of September 30, 2025, Assets Under Management (AUM) for First Foundation Advisors stood at $5.2 billion, with Trust assets Under Advisement (AUA) at First Foundation Bank at $1.2 billion. This division is recognized, having ranked #55 nationally on the CNBC FA100 list for 2025.

Growth-minded businesses are served through First Foundation Bank, which offers commercial banking and lending services. The bank is actively shifting its loan mix toward these clients.

• Growth-minded businesses needing commercial banking and lending.

Commercial and industrial (C&I) loans represented a significant portion of new lending activity, making up 81% of total fundings in the third quarter of 2025.

The bank's overall size and lending focus can be seen in these figures from the end of Q3 2025:

Metric	Amount as of September 30, 2025
Total Bank Assets	$11.9 billion
Total Deposits	$6.8 billion
Loan Balances (Total)	$7.8 billion
Loans Held for Investment	$7.3 billion
Loans Held for Sale	$0.5 billion

Historically, a major segment was real estate investors and developers, a concentration the company has been aggressively reducing. They are on track to exit the remaining held-for-sale commercial real estate (CRE) portfolio by the end of 2025.

• Real estate investors and developers (historically, now reducing concentration).

The CRE concentration relative to regulatory capital was reduced to approximately 365% as of Q2 2025, down from a high over 600%. The loans held for sale portfolio stood at $0.5 billion at the end of Q3 2025.

Finally, First Foundation Inc. also serves institutional investors and large stockholders who participated in a significant capital raise.

• Institutional investors and large stockholders like Canyon Partners.

In July 2024, affiliates of several firms, including Canyon Partners, agreed to investments aggregating to $228 million. Canyon Partners was specifically expected to invest $46 million in that transaction.

To be fair, the bank's geographic footprint supports these segments, with 31 locations across California, Florida, Hawaii, Nevada, and Texas as of September 30, 2025. Finance: review the Q3 2025 loan origination mix by dollar amount by Monday.

First Foundation Inc. (FFWM) - Canvas Business Model: Cost Structure

You're looking at the major drains on First Foundation Inc.'s bottom line as of late 2025, which really tells the story of where the firm is focusing its capital. The cost structure is heavily influenced by managing credit risk and investing in specialized talent, especially given the recent strategic moves.

A significant, non-recurring-type cost that hit the third quarter of 2025 was the $94.7 million valuation allowance recorded against the deferred tax asset balance. This is a big accounting entry reflecting management's view on the realizability of those future tax benefits, based on current results and projections. Also hitting the P&L hard was the $65.0 million provision for credit losses recorded in Q3 2025, which was a forward-looking adjustment due to changes in the Allowance for Credit Losses (ACL) quantitative assumptions. To be fair, this provision was net of only $0.5 million in net charge-offs for the same quarter.

The investment in people, which is key for a firm blending banking and wealth management, shows up clearly in personnel costs. Compensation and benefits expense for specialized staff in Q3 2025 totaled $23.7 million, up from $22.9 million in the linked prior quarter. This increase reflects investments made to bring in talent and retain institutional knowledge needed to organize around strategic initiatives.

The cost of funding deposits is a core operating expense, and you can see the pressure here. While the cost of deposits was 2.95% in Q2 2025, it ticked up to 3.11% for the quarter ending September 30, 2025. This is a key metric to watch as the firm works to shift its deposit mix.

Other operating expenses include professional support for ongoing changes. Professional services and marketing costs for Q3 2025 were $6.8 million. Overall, total Noninterest expense for Q3 2025 was $57.5 million.

Here is a quick look at some of the key cost components for the third quarter of 2025, in thousands of dollars, where available:

Cost Category	Q3 2025 Amount (in thousands)	Q2 2025 Amount (in thousands)
Provision for Credit Losses	$65,000	(Not specified in the same context)
Valuation Allowance on DTA	$94,700	$0 (Implied)
Compensation and Benefits Expense	$23,700	$22,900
Professional Services and Marketing Costs	$6,800	$7,200
Total Noninterest Expense	$57,500	$60,000

The interest expense component related to deposits is best tracked via the cost rate, but total interest expense on deposits for Q3 2025 isn't explicitly broken out from total interest expense in the immediate results. However, the Banking segment's total Interest Expense was $99,444 thousand in Q2 2025, which gives you a sense of the scale of funding costs before the deposit mix shift.

You should track the trend in the cost of deposits against the firm's stated goal of reducing high-cost deposits. The fact that the cost rose from 2.95% in Q2 2025 to 3.11% in Q3 2025, despite efforts to reduce higher-cost specialty deposits, is something Finance needs to dig into by next week.

First Foundation Inc. (FFWM) - Canvas Business Model: Revenue Streams

The revenue streams for First Foundation Inc. are derived from both traditional banking activities and its wealth management operations. You see this split clearly when looking at the core components of their top-line performance as of the second quarter of 2025.

The primary driver remains the spread between what First Foundation Bank earns on its assets and what it pays for its liabilities. This is the Net Interest Income, which was reported at $50,082 thousand for the quarter ended June 30, 2025. This figure reflects the bank's core lending and investment securities business, even amidst strategic balance sheet adjustments during that period.

The non-interest income side captures the fees generated by the advisory side of the business, First Foundation Advisors, alongside other banking charges and transaction-related gains or losses. You need to look closely at the details here, as large, one-time events can skew the picture significantly.

Here's a look at the key revenue components for Q2 2025, which was a quarter heavily impacted by strategic loan sales:

Revenue Component	Amount (in thousands)	Notes
Net Interest Income	$50,082	From loans and investment securities for Q2 2025.
Asset Management, Consulting and Other Fees	$8,601	Proxy for private wealth management and trust/advisory fees for Q2 2025.
Gain on Sale of Securities Available-for-Sale	$4,702	A positive component of non-interest income for Q2 2025.
Service Charges and Other Non-Interest Income	$289	Derived from Capital Market Activities for Q2 2025 (as a net negative component).
Gains/Losses from Loan Sales	($10,405)	Net loss on sale of loans held for sale in Q2 2025.

To get a clearer picture of the recurring fee-based revenue, you look at the wealth management components. As of June 30, 2025, Assets Under Management (AUM) at First Foundation Advisors stood at $5.3 billion. Trust Assets Under Advisement (AUA) at First Foundation Bank were $1.2 billion at the same date. These balances directly feed the fee income stream.

The fee income from wealth management and trust services is generally calculated as a percentage of these assets under management/advisement. For Q2 2025, the line item 'Asset management, consulting and other fees' was reported as $8,601 thousand. This single figure is the best available number to represent the combined revenue from:

• Fee income from private wealth management (AUM fees).
• Trust and investment advisory fees.

The remaining non-interest income is comprised of transactional items, like the gain on sale of securities available-for-sale, which was $4,702 thousand in Q2 2025. The negative figure for loan sales is a direct result of the strategic move to sell approximately $858 million principal balance of commercial real estate loans.

Service charges and other non-interest income from banking activities are less explicitly detailed as a standalone positive number, but the table shows 'Capital market activities' as a net negative of ($289) thousand for the quarter. You should definitely watch the trend in the 'Asset management, consulting and other fees' line item, as that is the most sustainable part of the non-interest revenue.