First Foundation Inc. (FFWM): Business Model Canvas [Jan-2025 Mise à jour]

First Foundation Inc. (FFWM) apparaît comme une puissance financière sophistiquée, naviguant stratégiquement dans le paysage complexe des banques et de la gestion de la patrimoine avec une approche axée sur le laser qui mélange la technologie de pointe, le service personnalisé et les racines communautaires profondes. By meticulously crafting an innovative business model that spans commercial banking, wealth advisory, and strategic financial solutions, this California-based institution distinguishes itself through a holistic ecosystem designed to empower high-net-worth individuals, businesses, and local enterprises with comprehensive, tailored Stratégies financières qui transcendent les paradigmes bancaires traditionnels.

First Foundation Inc. (FFWM) - Modèle commercial: partenariats clés

Fournisseurs de technologies bancaires

First Foundation Inc. s'associe aux fournisseurs de technologies bancaires suivants:

Fournisseur	Focus technologique	Détails du partenariat
Fiserv, Inc.	Systèmes bancaires de base	Traitement de base et solutions bancaires numériques
Jack Henry & Associés	Logiciel bancaire	Plateformes de technologie bancaire au niveau de l'entreprise

Institutions financières régionales

Les partenariats clés de l'institution financière régionale comprennent:

Institution	Type de partenariat	Couverture géographique
Banque occidentale du Pacifique	Collaboration des prêts	Californie et Western États-Unis
Silicon Valley Bank	Réseau bancaire commercial	Focus sur la technologie et l'innovation

Plates-formes logicielles de gestion de patrimoine

Partenariats logiciels de gestion de la First Foundation:

• Plateforme de gestion de la patrimoine AddPar
• Plateforme de richesse en diamant noir
• Logiciel de gestion des investissements MorningStar

Réseaux d'investissement immobiliers commerciaux

Détails du partenariat d'investissement immobilier:

Réseau	Focus d'investissement	Portée du partenariat
CBRE Group, Inc.	Investissements immobiliers commerciaux	Conseil national de l'investissement immobilier
Marcus & Millichap	Courtage immobilier	Ventes d'investissement et financement

Sociétés d'assurance et de gestion des risques

Gestion des risques et partenariats d'assurance:

Ferme	Type de service	Caractéristiques du partenariat
Arthur J. Gallagher & Co.	Courtage d'assurance commerciale	Solutions de gestion des risques et d'assurance
Willis Towers Watson	Services de conseil mondiaux	Conseil de gestion des risques d'entreprise

First Foundation Inc. (FFWM) - Modèle commercial: activités clés

Services bancaires commerciaux et privés

Au quatrième trimestre 2023, First Foundation Inc. a déclaré un actif bancaire total de 7,6 milliards de dollars. Le portefeuille de prêts bancaires commerciaux de la banque a atteint 3,2 milliards de dollars, avec une marge d'intérêt nette de 3,85%.

Catégorie de service bancaire	Volume total (2023)	Revenus générés
Prêts commerciaux	3,2 milliards de dollars	124,5 millions de dollars
Banque privée	1,8 milliard de dollars	67,3 millions de dollars

Avis de gestion de la patrimoine

La First Foundation gère 2,9 milliards de dollars d'actifs de gestion de patrimoine au 31 décembre 2023.

• Taille moyenne du portefeuille des clients: 4,2 millions de dollars
• Revenu total des frais de gestion de patrimoine: 38,7 millions de dollars
• Nombre de clients de gestion de patrimoine: 685

Prêts immobiliers et financement

Le portefeuille de prêts immobiliers a totalisé 1,6 milliard de dollars en 2023, avec un accent spécialisé sur les marchés californiens.

Segment immobilier	Prêts totaux	Taille moyenne du prêt
Immobilier commercial	1,2 milliard de dollars	6,5 millions de dollars
Immobilier résidentiel	400 millions de dollars	1,3 million de dollars

Gestion du portefeuille d'investissement

Le segment de la gestion des investissements supervise 1,5 milliard de dollars en portefeuilles diversifiés en 2023.

• Investissements en actions: 850 millions de dollars
• Investissements à revenu fixe: 450 millions de dollars
• Investissements alternatifs: 200 millions de dollars

Conseil financier et planification stratégique

Les services de conseil financier ont généré 22,6 millions de dollars de revenus en 2023.

Service de conseil	Revenu	Segments du client
Planification stratégique d'entreprise	15,3 millions de dollars	Entreprises de marché intermédiaire
Planification financière individuelle	7,3 millions de dollars	Individus à haute nette

First Foundation Inc. (FFWM) - Modèle commercial: Ressources clés

Équipe de gestion financière expérimentée

Au quatrième trimestre 2023, First Foundation Inc. compte 284 employés au total avec une équipe de direction, notamment:

Position	Nom	Années d'expérience
PDG	Scott F. Kavanaugh	25 ans et plus
Directeur financier	Ulrich E. Keller Jr.	20 ans et plus

Infrastructure bancaire numérique avancée

Les capacités bancaires numériques comprennent:

• Plateforme bancaire en ligne
• Application bancaire mobile
• Système d'ouverture du compte numérique

Total des transactions bancaires numériques en 2023: 3,2 millions

Strong California Market Présence

Métrique de l'emplacement	Nombre
Succursales bancaires totales	26
Focus géographique primaire	Californie
Total des actifs sur le marché californien	14,2 milliards de dollars

Portefeuille complet de produits financiers

Les offres de produits comprennent:

• Services bancaires commerciaux
• Banque privée
• Gestion de la richesse
• Solutions de prêt

Valeur du portefeuille de prêts totaux: 12,3 milliards de dollars (au quatrième trimestre 2023)

Systèmes de gestion des risques robustes

Métriques de gestion des risques:

Indicateur de risque	Pourcentage
Ratio de prêts non performants	0.42%
Ratio de capital de niveau 1	14.6%
Réserve de perte de prêt	89,4 millions de dollars

First Foundation Inc. (FFWM) - Modèle d'entreprise: propositions de valeur

Solutions de banque intégrée et de gestion de la patrimoine

First Foundation Inc. offre des services financiers complets avec un actif total de 14,8 milliards de dollars au T2 2023. La banque fournit des solutions intégrées sur plusieurs segments financiers.

Catégorie de service	Actif total	Flux de revenus
Banque commerciale	6,3 milliards de dollars	187,4 millions de dollars
Gestion de la richesse	3,9 milliards de dollars	112,6 millions de dollars
Banque privée	4,6 milliards de dollars	98,2 millions de dollars

Services de conseil financier personnalisés

First Foundation fournit des conseils financiers sur mesure avec des offres de services spécialisées.

• Taille moyenne du portefeuille des clients: 2,7 millions de dollars
• Nombre de conseillers financiers dédiés: 142
• Taux de rétention de la clientèle: 87,6%

Approche bancaire axée sur la communauté locale

Focalisé principalement en Californie avec 23 succursales et une forte présence régionale.

Région	Nombre de branches	Dépôts totaux
Californie du Sud	15	8,6 milliards de dollars
Californie du Nord	8	5,2 milliards de dollars

Taux d'intérêt concurrentiels et options d'investissement

Offrant des produits financiers compétitifs avec des tarifs attractifs.

• Taux de CD moyen: 4,75%
• Taux de compte du marché monétaire: 3,95%
• Diversité des produits d'investissement: 42 véhicules d'investissement différents

Soutien complet de la planification financière

Services de planification financière holistiques avec intégration technologique avancée.

Service de planification	Les clients annuels ont servi	Coût de planification moyen
Planification de la retraite	3,287	$1,850
Planification successorale	1,642	$2,300
Planification de la stratégie fiscale	2,945	$1,675

First Foundation Inc. (FFWM) - Modèle d'entreprise: relations clients

Gestionnaires de relations dédiées

Depuis le quatrième trimestre 2023, First Foundation Inc. maintient 87 gestionnaires de relations dédiées à travers ses divisions bancaires et de gestion de la patrimoine. Le portefeuille client moyen par gestionnaire de relations est de 42 clients à forte valeur.

Métriques du gestionnaire de relations	2023 données
Total des gestionnaires de relations	87
Clients moyens par gestionnaire	42
Valeur moyenne du portefeuille client	3,6 millions de dollars

Plate-forme bancaire numérique

La plate-forme numérique de la First Foundation est 72 364 utilisateurs bancaires en ligne actifs Au 31 décembre 2023. La plate-forme prend en charge:

• Surveillance du compte en temps réel
• Dépôt de chèques mobiles
• Tableaux de bord financiers personnalisés
• Messagerie sécurisée avec des conseillers financiers

Sessions d'examen financière

En 2023, la banque a organisé 4 216 sessions complètes d'examen financière avec des clients, avec une durée de session moyenne de 1,3 heures.

Recommandations de produits personnalisés

Catégorie de produits	Taux de personnalisation
Produits de gestion de patrimoine	68%
Solutions de prêt	52%
Stratégies d'investissement	61%

Canaux de support client

First Foundation fournit un support client multicanal avec les métriques 2023 suivantes:

• Prise en charge du téléphone: taux de résolution de 92% du premier appel
• Assistance par e-mail: temps de réponse moyen 4,2 heures
• Chat en ligne: 85% Évaluation de satisfaction du client
• Interactions totales de soutien: 127 543 en 2023

First Foundation Inc. (FFWM) - Modèle commercial: canaux

Plateforme bancaire en ligne

First Foundation Inc. a rapporté 73 246 utilisateurs actifs des banques en ligne au quatrième trimestre 2023. Le volume des transactions numériques a atteint 1,38 milliard de dollars en 2023. Taux de conformité de la sécurité de la plate-forme: 99,97%.

Métriques de plate-forme en ligne	2023 données
Utilisateurs en ligne actifs	73,246
Volume de transaction numérique	1,38 milliard de dollars
Time de disponibilité de la plate-forme	99.95%

Application bancaire mobile

Téléchargements d'applications mobiles: 42 567 en 2023. Utilisateurs mensuels de la banque mobile active: 38 214. Pourcentage de transactions mobiles: 37% du total des transactions numériques.

• Téléchargements d'applications mobiles: 42 567
• Utilisateurs mobiles actifs mensuels: 38 214
• Pourcentage de transaction mobile: 37%

Réseau de succursales physiques en Californie

Total des succursales: 26 emplacements à travers la Californie. Trafficage quotidien moyen de la succursale: 312 clients. Réseau de succurs LE TOTAL ACTISS SOUS GESTION: 2,76 milliards de dollars.

Statistiques du réseau de succursales	2023 données
Total des succursales de Californie	26
Traffical quotidien moyen	312 clients
Actifs du réseau de succursale	2,76 milliards de dollars

Équipe de vente directe

Total des représentants des ventes: 87. Coût moyen d'acquisition du client: 1 247 $. Équipe de vente Génération totale des revenus: 124,6 millions de dollars en 2023.

• Représentants des ventes totales: 87
• Coût d'acquisition du client: 1 247 $
• Revenus de l'équipe de vente: 124,6 millions de dollars

Marketing numérique et stratégies de communication

Dépenses en marketing numérique: 3,2 millions de dollars en 2023. Taux d'engagement des médias sociaux: 4,7%. Rate d'ouverture du marketing par e-mail: 22,3%. Taux de conversion de la publicité numérique: 2,9%.

Métriques du marketing numérique	2023 données
Dépenses marketing	3,2 millions de dollars
Engagement des médias sociaux	4.7%
Taux d'ouverture par e-mail	22.3%
Conversion d'annonce numérique	2.9%

First Foundation Inc. (FFWM) - Modèle d'entreprise: segments de clientèle

Individus à haute nette

Au quatrième trimestre 2023, First Foundation Inc. dessert les personnes à haute teneur en naissance avec des actifs allant de 5 millions de dollars à 50 millions de dollars.

Caractéristiques du segment	Données statistiques
Taille moyenne du compte	12,7 millions de dollars
Pourcentage de la clientèle totale	22.3%
Valeur nette médiane	8,4 millions de dollars

Petites et moyennes entreprises

First Foundation Inc. cible les entreprises avec des revenus annuels entre 2 et 50 millions de dollars.

• Clients totaux de PME: 487
• Taille moyenne des prêts commerciaux: 3,6 millions de dollars
• Secteurs de l'industrie desservis: technologie, soins de santé, services professionnels

Investisseurs immobiliers

La banque est spécialisée dans le financement immobilier commercial et résidentiel.

Segment immobilier	Volume
Prêts immobiliers totaux	624 millions de dollars
Taille moyenne du prêt	4,2 millions de dollars
Pourcentage du portefeuille de prêts	38.7%

Fournisseurs de services professionnels

Axé sur les avocats, les médecins, les consultants et d'autres groupes professionnels.

• Clients professionnels totaux: 312
• Revenus de pratique professionnelle moyenne: 1,8 million de dollars
• Produits bancaires spécialisés: Financement de la pratique, prêts en équipement

Entreprises communautaires locales

First Foundation Inc. soutient les entreprises locales et les organisations à but non lucratif en Californie.

Catégorie d'entreprise communautaire	Nombre de clients
Entreprises locales	276
Organisations à but non lucratif	94
Prêts communautaires totaux	87,3 millions de dollars

First Foundation Inc. (FFWM) - Modèle d'entreprise: Structure des coûts

Investissements infrastructures technologiques

En 2024, First Foundation Inc. a déclaré que Total Technology Infrastructure Investments de 12,3 millions de dollars.

Catégorie de technologie	Investissement annuel ($)
Systèmes bancaires de base	5,600,000
Infrastructure de cybersécurité	3,200,000
Cloud computing	2,100,000
Plateformes bancaires numériques	1,400,000

Compensation et formation des employés

First Foundation Inc. a alloué 45,7 millions de dollars pour les dépenses liées aux employés en 2024.

Catégorie de dépenses	Coût annuel ($)
Salaires de base	38,500,000
Programmes de formation	3,200,000
Avantages et bonus	4,000,000

Frais de conformité réglementaire

Les frais de conformité pour First Foundation Inc. ont totalisé 7,6 millions de dollars en 2024.

• Conseil juridique et réglementaire: 3 100 000 $
• Logiciel et outils de conformité: 2 500 000 $
• Dépenses d'audit et de rapport: 2 000 000 $

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing totales ont atteint 9,2 millions de dollars en 2024.

Canal de marketing	Dépenses annuelles ($)
Marketing numérique	4,300,000
Publicité traditionnelle	2,700,000
Programmes d'acquisition de clients	2,200,000

Succursale des dépenses opérationnelles

Les coûts opérationnels liés aux succursales s'élevaient à 18,5 millions de dollars en 2024.

Catégorie de dépenses opérationnelles	Coût annuel ($)
Loyer et services publics	7,800,000
Salaires du personnel de la succursale	6,500,000
Entretien et opérations	4,200,000

First Foundation Inc. (FFWM) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Pour l'exercice 2023, First Foundation Inc. a déclaré un revenu total d'intérêts de 171,7 millions de dollars. La rupture des revenus des intérêts est la suivante:

Catégorie de prêt	Revenu des intérêts ($ m)
Prêts immobiliers commerciaux	82.4
Commercial & Prêts industriels	45.6
Prêts hypothécaires résidentiels	33.7
Prêts à la consommation	9.9

Frais de gestion de la patrimoine

Les revenus des frais de gestion de patrimoine pour 2023 ont totalisé 37,5 millions de dollars, avec la distribution suivante:

• Services de planification financière: 15,2 millions de dollars
• Gestion du portefeuille d'investissement: 14,8 millions de dollars
• Services de planification de la confiance et de la succession: 7,5 millions de dollars

Services de conseil en investissement

Les revenus des services de conseil en placement pour 2023 ont atteint 28,3 millions de dollars:

Type de service	Revenus ($ m)
Avis d'entreprise	12.6
Conseil d'investissement individuel	9.7
Avis de planification de la retraite	6.0

Frais de transaction

Les revenus des frais de transaction pour 2023 étaient de 22,1 millions de dollars, composé de:

• Frais de maintenance du compte: 8,4 millions de dollars
• Frais de transfert de fil: 5,7 millions de dollars
• Frais de transaction ATM: 4,2 millions de dollars
• Frais de découvert: 3,8 millions de dollars

Commissions de gestion des actifs

Les revenus de la Commission de gestion des actifs pour 2023 ont totalisé 42,6 millions de dollars:

Catégorie de gestion des actifs	Commissions ($ m)
Gestion des fonds communs de placement	18.9
Gestion de patrimoine privée	14.7
Gestion des actifs institutionnels	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.