First Foundation Bank Mortgage Rates, Fees & Info

Irvine, CA

LEI: 549300M5KSPQD2HH1N54

Tax ID: 32-0211527

1.3 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Foundation Bank is a small bank specializing in Refi and Home Purchase loans. First Foundation Bank has a high proportion of conventional loans. Their top markets include Los Angeles, San Francisco, San Diego, San Jose, and Orlando among others. First Foundation Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. First Foundation Bank is typically a high fee lendor.


Originations

814

Origination Dollar Volume (All Markets)

$2,154,150,000

Employee count

603

Awards

First Foundation Bank 30 Year Conventional Loans bronze First Foundation Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

First Foundation Bank's average 30 year fixed rate mortgage of loans were 3.28%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.13%.

Relative Fees

First Foundation Bank's average total fees for a 30 year fixed rate mortgage are $8,043.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 536 $1,394,750,000 $2,602,146 $8,352 3.27%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 106 $285,580,000 $2,694,151 $3,797 3.27%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 85 $170,355,000 $2,004,176 $0 3.30%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 33 $75,465,000 $2,286,818 $0 3.21%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $43,125,000 $43,125,000 $0 3.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $34,385,000 $11,461,667 $5,881 3.20%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $32,505,000 $32,505,000 $0 3.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $27,255,000 $27,255,000 $0 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $24,600,000 $4,100,000 $10,295 3.44%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $24,505,000 $24,505,000 $0 3.50%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 8 $11,910,000 $1,488,750 $0 3.38%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 17 $6,555,000 $385,588 $5,292 3.51%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $3,975,000 $3,975,000 $0 3.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $0 3.88%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $0 3.35%
VALLEJO, CA (FHA|USDA|VA) 1 $2,435,000 $2,435,000 $0 3.40%
Hilo, HI (FHA|USDA|VA) 1 $2,425,000 $2,425,000 $0 3.25%
URBAN HONOLULU, HI (FHA|USDA|VA) 2 $1,840,000 $920,000 $5,850 3.15%
Glenwood Springs, CO (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $6,975 2.88%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $0 3.10%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 3.45%
SALINAS, CA (FHA|USDA|VA) 1 $845,000 $845,000 $0 3.50%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $585,000 $585,000 $11,044 3.25%
CHICO, CA (FHA|USDA|VA) 2 $580,000 $290,000 $0 3.81%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.38%

First Foundation Bank's top markets include Los Angeles, San Francisco, San Diego, San Jose, and Orlando among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 814 $2,154,150,000 $2,646,376 $8,043 3.28%

For the 2021 period, First Foundation Bank's most frequently originated loan type of loans were Conventional, with 814 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 656 $1,704,600,000 $2,598,476 $8,646 3.29%
Home Purchase 152 $443,850,000 $2,920,066 $7,293 3.25%
Home Improvement 5 $4,095,000 $819,000 $5,881 3.31%
Other 1 $1,605,000 $1,605,000 $6,975 2.88%

For the 2021, First Foundation Bank's most frequently cited loan purpose of loans were Refi, with 656 originations. The 2nd most popular reason of loans were Home Purchase, with 152 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 779 $1,806,135,000 $2,318,530 $8,043 3.28%
10 Year 30 $296,610,000 $9,887,000 $0 3.40%
Other 5 $51,405,000 $10,281,000 $0 3.36%

For the 2021, First Foundation Bank's most frequently cited loan length of loans were 30 Year, with 779 originations. The 2nd most popular length of loans were 10 Year, with 30 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 39 $42,415,000 $1,087,564
$5k+ 11 $19,445,000 $1,767,727

$8,043 of loans were First Foundation Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 39 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 725 $1,878,355,000 $2,590,834
2.5-3% 87 $271,905,000 $3,125,345
<2.5% 2 $3,890,000 $1,945,000

During 2021, First Foundation Bank's average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 725 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 606 $2,028,730,000 $3,347,739 $12,247 3.27%
$600k-1MM 98 $79,080,000 $806,939 $6,225 3.36%
$400k-600k 67 $34,585,000 $516,194 $5,583 3.29%
$200k-400k 31 $9,705,000 $313,065 $2,867 3.25%
$100k-200k 12 $2,050,000 $170,833 $2,044 3.23%

2021 saw First Foundation Bank place emphasis on $1MM+ loans with 606 originations, totaling $2,028,730,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 26 $26,240,000 $1,009,231 $9,536 3.22%
$50k-75k 8 $1,570,000 $196,250 $2,184 2.75%
$150k-250k 5 $4,045,000 $809,000 $14,192 3.35%
$75k-100k 4 $1,140,000 $285,000 $2,313 2.97%
$100k-150k 3 $1,365,000 $455,000 $3,877 3.13%

First Foundation Bank lent most frequently to those with incomes in the $250k+ range, with 26 originations. The second most popular income band? $50k-75k, with 8 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
<20% 12 $10,830,000 $902,500 $8,276 3.31%
20-30% 10 $6,270,000 $627,000 $7,116 3.16%
30-36% 9 $4,605,000 $511,667 $4,960 3.03%
50-60% 4 $6,840,000 $1,710,000 $13,035 3.22%
41% 3 $3,105,000 $1,035,000 $13,988 3.17%
42% 2 $920,000 $460,000 $2,785 2.88%
38% 2 $440,000 $220,000 $2,315 2.75%
47% 1 $275,000 $275,000 $2,656 2.75%
48% 1 $265,000 $265,000 $2,824 2.75%
49% 1 $485,000 $485,000 $0 3.63%
36% 1 $1,005,000 $1,005,000 $3,388 2.88%
39% 1 $425,000 $425,000 $4,318 3.00%
45% 1 $345,000 $345,000 $0 3.63%

First Foundation Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 10 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 734 $2,050,830,000 $2,794,046 $9,674 3.29%
Not provided 25 $44,535,000 $1,781,400 $7,527 3.24%
White 36 $44,220,000 $1,228,333 $8,992 3.26%
Asian 12 $12,280,000 $1,023,333 $4,763 3.11%
Black 7 $2,285,000 $326,429 $2,437 3.13%

Approval Rates

Total approvals of all applications
94.54%

First Foundation Bank has an average approval rate.

Pick Rate

Approvals leading to origination
91.68%

First Foundation Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 814 $2,154,150,000 $2,646,376

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
814 $2,154,150,000 $2,646,376

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 69 $101,955,000 $1,477,609 $7,333 3.29%
40-60% 368 $973,780,000 $2,646,141 $11,592 3.30%
60-80% 364 $1,064,970,000 $2,925,742 $5,501 3.27%
80-100% 4 $5,330,000 $1,332,500 $14,224 2.91%
Under 20% 9 $8,115,000 $901,667 $3,763 3.13%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 10 29.4%
FIRST HORIZON BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
FIRST HORIZON BANK FHA mortgage Closing on a mortgage 1 2.9%
FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 5.9%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
FIRST HORIZON BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Foundation Bank 10850 Wilshire Blvd, Suite 100 Los Angeles, CA 90024 Full Service B&M $166,249
First Foundation Bank 649 Lincoln Way Auburn, CA 95603 Full Service B&M $68,393
First Foundation Bank 6725 Via Austi Pkwy Ste 100 Las Vegas, NV 89119 Full Service B&M $62,321
First Foundation Bank 74-850 Hwy 111 Indian Wells, CA 92210 Full Service B&M $216,757
First Foundation Bank 2101 Rosecrans Avenue, Suite 4260 El Segundo, CA 90245 Full Service B&M $18,225
First Foundation Bank 2233 Douglas Boulevard, Suite 300 Roseville, CA 95661 Full Service B&M $106,784
First Foundation Bank 24181 Ronda Del Rossmoor Laguna Hills, CA 92653 Full Service B&M $205,211
First Foundation Bank 2625 Whispering Pines Drive Running Springs, CA 92382 Full Service B&M $28,581
First Foundation Bank 301 N. Lake Ave Suite 100 Pasadena, CA 91101 Full Service B&M $67,876
First Foundation Bank 323 20th Street Oakland, CA 94612 Full Service B&M $102,946
First Foundation Bank 32946d State Highway 18 Lucerne Valley, CA 92356 Full Service B&M $31,382
First Foundation Bank 36 Malaga Cove Plaza Palos Verdes Estates, CA 90274 Full Service B&M $60,814
First Foundation Bank 40865 Big Bear Boulevard Big Bear Lake, CA 92315 Full Service B&M $111,099
First Foundation Bank 4370 La Jolla Village Drive, Suite 150 San Diego, CA 92122 Full Service B&M $98,238
First Foundation Bank 4a Peninsula Center Rolling Hills Estates, CA 90274 Full Service B&M $95,538
First Foundation Bank 500 Ala Moana Boulevard, Suite 2a, Two Waterfront Plaza Honolulu, HI 96813 Full Service B&M $183,383
First Foundation Bank 13962 Seal Beach Blvd. Seal Beach, CA 90740 Full Service B&M $98,226
First Foundation Bank 15490 Ventura Blvd. Sherman Oaks, CA 91403 Full Service B&M $38,743
First Foundation Bank 1599 West Main Street El Centro, CA 92243 Full Service B&M $122,784
First Foundation Bank 1601 Response Road Suite 190 Sacramento, CA 95815 Full Service B&M $65,144
First Foundation Bank 18101 Von Karman Ave, Suite 150 Irvine, CA 92612 Full Service B&M $771,939
First Foundation Bank 18101 Von Karman Avenue, Suite 750 Irvine, CA 92612 Full Service B&M $4,398,851

For 2021, First Foundation Bank had 22 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $256,892
Net interest income $243,204
Total noninterest income $31,830
Gross Fiduciary activities income $7,161
Service charges on deposit accounts $1,700
Trading account gains and fees $0
Additional Noninterest Income $22,969
Pre-tax net operating income $149,356
Securities gains (or losses, -) $0
Income before extraordinary items $107,212
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $107,212
Minority interest net income $0
Net income $107,212
Sale, conversion, retirement of capital stock, net $1,538
Net operating income $107,212

First Foundation Bank's gross interest income from loans was $256,892,000.
First Foundation Bank's net interest income from loans was $243,204,000.
First Foundation Bank's fee based income from loans was $1,700,000.
First Foundation Bank's net income from loans was $107,212,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $13,688
Provision for credit losses $3,866
Total noninterest expense $121,812
Salaries and employee benefits $68,898
Premises and equipment expense $11,385
Additional noninterest expense $41,529
Applicable income taxes $42,144
Net charge-offs $826
Cash dividends $22,000

First Foundation Bank's interest expense for loans was $13,688,000.
First Foundation Bank's payroll and benefits expense were $68,898,000.
First Foundation Bank's property, plant and equipment expenses $11,385,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 1.0%

Deposits

Type Value (in 000's)
Total deposits $8,842,391
Deposits held in domestic offices $8,842,391
Deposits by Individuals, partnerships, and corporations $8,094,966
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $743,512
Deposits by Commercial banks and other depository institutions in U.S. $3,913
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $5,553,685
Demand deposits $4,591,057
Nontransaction accounts $3,288,706
Money market deposit accounts (MMDAs) $2,072,143
Other savings deposits (excluding MMDAs) $548,075
Total time deposits $668,487
Total time and savings deposits $4,251,334
Noninterest-bearing deposits $3,310,986
Interest-bearing deposits $5,531,405
Retail deposits $8,385,482
IRAs and Keogh plan accounts $35,965
Brokered deposits $90,285
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $10,171,711
Cash & Balances due from depository institutions $1,121,227
Interest-bearing balances $1,086,221
Total securities $1,191,378
Federal funds sold & reverse repurchase $0
Net loans and leases $7,374,388
Loan and leases loss allowance $33,776
Trading account assets $0
Bank premises and fixed assets $45,393
Other real estate owned $6,210
Goodwill and other intangibles $228,884
All other assets $204,231

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $10,171,711
Total Liabilities $9,100,055
Total deposits $8,842,391
Interest-bearing deposits $5,531,405
Deposits held in domestic offices $8,842,391
% insured (estimated) $78
Federal funds purchased and repurchase agreements $165,930
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $91,734

Issued Loan Types

Type Value (in 000's)
Net loans and leases $7,374,388
Loan and leases loss allowance $33,776
Total loans and leases (domestic) $7,408,164
All real estate loans $5,861,904
Real estate loans in domestic offices $5,861,904
Construction and development loans $150,152
Residential 1-4 family construction $35,340
Other construction, all land development and other land $114,812
Loans secured by nonfarm nonresidential properties $1,302,211
Nonfarm nonresidential secured by owner-occupied properties $618,346
Commercial real estate & other non-farm, non-residential $683,865
Multifamily residential real estate $3,411,578
1-4 family residential loans $997,056
Farmland loans $907
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $1,067,464
To non-U.S. addressees $0
Loans to individuals $10,816
Credit card loans $0
Related Plans $7,380
Consumer Auto Loans $63
Other loans to individuals $3,373
All other loans & leases $467,979
Loans to foreign governments and official institutions $0
Other loans $24,890
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $19,225
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $2,709
Non 1-4 family restructured loans & leases $1,052
Total loans and leases (foreign) $0

First Foundation Bank had $7,374,388,000 of loans outstanding in 2021. $5,861,904,000 of loans were in real estate loans. $150,152,000 of loans were in development loans. $3,411,578,000 of loans were in multifamily mortgage loans. $997,056,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $63,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 419 $160,543 $383,158
Nonfarm, nonresidential loans - <$100k 36 $1,669 $46,361
Nonfarm, nonresidential loans - $100-250k 62 $8,146 $131,387
Nonfarm, nonresidential loans - $250k-1MM 321 $150,728 $469,558
Commercial & Industrial, US addressed loans - <$1MM 857 $84,452 $98,544
Commercial & Industrial, US addressed loans - <$100k 468 $11,062 $23,637
Commercial & Industrial, US addressed loans - $100-250k 159 $14,808 $93,132
Commercial & Industrial, US addressed loans - $250k-1MM 230 $58,582 $254,704