First Foundation Bank Mortgage Rates, Fees & Info
Irvine, CALEI: 549300M5KSPQD2HH1N54
Tax ID: 32-0211527
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Bank Data
Review & Overview
First Foundation Bank is a small bank specializing in Refi loans. First Foundation Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Diego, San Francisco, Santa Cruz, and San Jose among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)First Foundation Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Foundation Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.07% | 11/17/24 |
| 30 Year Conventional Refi | 5.76% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
First Foundation Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
532Origination Dollar Volume (All Markets)
$1,436,670,000Employee count
446Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 361 | $994,105,000 | $2,753,753 | $232,397 | 3.66% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 71 | $181,415,000 | $2,555,141 | $0 | 3.66% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 55 | $133,845,000 | $2,433,545 | $10,830 | 3.63% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $32,955,000 | $32,955,000 | $0 | 3.80% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 13 | $31,695,000 | $2,438,077 | $0 | 3.49% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 11 | $23,535,000 | $2,139,545 | $5,044 | 3.66% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $16,645,000 | $16,645,000 | $0 | 3.40% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $4,340,000 | $2,170,000 | $4,017 | 3.49% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $3,645,000 | $1,215,000 | $0 | 3.63% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $8,001 | 2.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $2,755,000 | $918,333 | $0 | 3.34% |
| SALINAS, CA (FHA|USDA|VA) | 5 | $2,015,000 | $403,000 | $0 | 3.35% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,865,000 | $1,865,000 | $7,735 | 3.38% |
| Outside of Metro Areas | 1 | $1,575,000 | $1,575,000 | $16,322 | 3.38% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $1,545,000 | $1,545,000 | $0 | 3.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,425,000 | $1,425,000 | $0 | 3.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,338 | 3.88% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 532 | $1,436,670,000 | $2,700,508 | $172,342 | 3.64% |
For 2020, First Foundation Bank's most frequently originated type of loan was Conventional, with 532 originations.
Loan Reason
For 2020, First Foundation Bank's most frequently cited loan purpose was Refi, with 396 originations. The 2nd most popular reason was Home Purchase, with 128 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 529 | $1,410,655,000 | $2,666,645 | $172,342 | 3.64% |
| 10 Year | 3 | $26,015,000 | $8,671,667 | $0 | 3.42% |
For 2020, First Foundation Bank's most frequently cited loan duration was 30 Year, with 529 originations. The 2nd most popular length was 10 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 36 | $57,070,000 | $1,585,278 |
| $5k+ | 9 | $16,535,000 | $1,837,222 |
First Foundation Bank's average total fees were $172,342, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 478 | $1,330,270,000 | $2,782,992 |
| 4-5% | 40 | $40,080,000 | $1,002,000 |
| 2.5-3% | 14 | $66,320,000 | $4,737,143 |
During 2020, First Foundation Bank's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 3-4%, with 478 originations.
Loan Sizing
2020 saw First Foundation Bank place emphasis on $1MM+ loans with 386 originations, totaling $1,338,690,000 in origination value.
Applicant Income
First Foundation Bank lent most frequently to those with incomes in the $250k+ range, with 21 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
First Foundation Bank lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.76%
First Foundation Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.84%
First Foundation Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 532 | $1,436,670,000 | $2,700,508 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 382 | $1,266,200,000 | $3,314,660 |
| Single Family (1-4 Units):Site-Built | 150 | $170,470,000 | $1,136,467 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
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 | $109,005 |
| First Foundation Bank | 13962 Seal Beach Blvd. Seal Beach, CA 90740 | Full Service B&M | $99,726 |
| First Foundation Bank | 1599 West Main Street El Centro, CA 92243 | Full Service B&M | $109,157 |
| First Foundation Bank | 1601 Response Road Suite 190 Sacramento, CA 95815 | Full Service B&M | $51,371 |
| First Foundation Bank | 18101 Von Karman Ave, Suite 150 Irvine, CA 92612 | Full Service B&M | $464,147 |
| First Foundation Bank | 18101 Von Karman Avenue, Suite 750 Irvine, CA 92612 | Full Service B&M | $3,572,173 |
| First Foundation Bank | 2101 Rosecrans Avenue, Suite 4260 El Segundo, CA 90245 | Full Service B&M | $28,236 |
| First Foundation Bank | 2233 Douglas Boulevard, Suite 300 Roseville, CA 95661 | Full Service B&M | $100,396 |
| First Foundation Bank | 24181 Ronda Del Rossmoor Laguna Hills, CA 92653 | Full Service B&M | $183,895 |
| First Foundation Bank | 2625 Whispering Pines Drive Running Springs, CA 92382 | Full Service B&M | $23,776 |
| First Foundation Bank | 301 N. Lake Ave Suite 100 Pasadena, CA 91101 | Full Service B&M | $60,436 |
| First Foundation Bank | 323 20th Street Oakland, CA 94612 | Full Service B&M | $75,653 |
| First Foundation Bank | 32946-D Highway 18 Lucerne Valley, CA 92356 | Full Service B&M | $27,083 |
| First Foundation Bank | 36 Malaga Cove Plaza Palos Verdes Estates, CA 90274 | Full Service B&M | $40,151 |
| First Foundation Bank | 40865 Big Bear Boulevard Big Bear Lake, CA 92315 | Full Service B&M | $93,596 |
| First Foundation Bank | 4370 La Jolla Village Drive, Suite 150 San Diego, CA 92122 | Full Service B&M | $89,974 |
| First Foundation Bank | 4a Peninsula Center Rolling Hills Estates, CA 90274 | Full Service B&M | $93,575 |
| First Foundation Bank | 500 Ala Moana Boulevard, Suite 2a, Two Waterfront Plaza Honolulu, HI 96813 | Full Service B&M | $178,325 |
| First Foundation Bank | 649 Lincoln Way Auburn, CA 95603 | Full Service B&M | $64,296 |
| First Foundation Bank | 6725 Via Austi Pkwy Ste 100 Las Vegas, NV 89119 | Full Service B&M | $39,940 |
| First Foundation Bank | 74-850 Hwy 111 Indian Wells, CA 92210 | Full Service B&M | $153,252 |
For 2020, First Foundation Bank had 21 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $252,032 |
| Net interest income | $204,955 |
| Total noninterest income | $23,794 |
| Gross Fiduciary activities income | $5,645 |
| Service charges on deposit accounts | $1,220 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $16,929 |
| Pre-tax net operating income | $119,615 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $84,977 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $84,977 |
| Minority interest net income | $0 |
| Net income | $84,977 |
| Sale, conversion, retirement of capital stock, net | $1,892 |
| Net operating income | $84,977 |
First Foundation Bank's gross interest income from loans was $252,032,000.
First Foundation Bank's net interest income from loans was $204,955,000.
First Foundation Bank's fee based income from loans was $1,220,000.
First Foundation Bank's net income from loans was $84,977,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $47,077 |
| Provision for credit losses | $6,746 |
| Total noninterest expense | $102,388 |
| Salaries and employee benefits | $56,153 |
| Premises and equipment expense | $10,564 |
| Additional noninterest expense | $35,671 |
| Applicable income taxes | $34,638 |
| Net charge-offs | $841 |
| Cash dividends | $10,000 |
First Foundation Bank's interest expense for loans was $47,077,000.
First Foundation Bank's payroll and benefits expense were $56,153,000.
First Foundation Bank's property, plant and equipment expenses $10,564,000.
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 | 1.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 9.0% |
| All other family | 1.0% |
| 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 | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $5,923,852 |
| Deposits held in domestic offices | $5,923,852 |
| Deposits by Individuals, partnerships, and corporations | $5,582,515 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $338,356 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,981 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $395,359 |
| Demand deposits | $377,470 |
| Nontransaction accounts | $5,528,493 |
| Money market deposit accounts (MMDAs) | $1,702,032 |
| Other savings deposits (excluding MMDAs) | $2,847,565 |
| Total time deposits | $978,897 |
| Total time and savings deposits | $5,546,382 |
| Noninterest-bearing deposits | $1,666,263 |
| Interest-bearing deposits | $4,257,589 |
| Retail deposits | $5,182,998 |
| IRAs and Keogh plan accounts | $31,793 |
| Brokered deposits | $326,131 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $6,941,773 |
| Cash & Balances due from depository institutions | $629,067 |
| Interest-bearing balances | $606,947 |
| Total securities | $807,426 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $5,285,003 |
| Loan and leases loss allowance | $24,200 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $10,706 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $103,174 |
| All other assets | $106,397 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $6,941,773 |
| Total Liabilities | $6,244,125 |
| Total deposits | $5,923,852 |
| Interest-bearing deposits | $4,257,589 |
| Deposits held in domestic offices | $5,923,852 |
| % insured (estimated) | $69 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $255,000 |
| Subordinated debt | $0 |
| All other liabilities | $65,273 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $5,285,003 |
| Loan and leases loss allowance | $24,200 |
| Total loans and leases (domestic) | $5,309,203 |
| All real estate loans | $4,406,079 |
| Real estate loans in domestic offices | $4,406,079 |
| Construction and development loans | $57,028 |
| Residential 1-4 family construction | $13,824 |
| Other construction, all land development and other land | $43,204 |
| Loans secured by nonfarm nonresidential properties | $749,585 |
| Nonfarm nonresidential secured by owner-occupied properties | $441,492 |
| Commercial real estate & other non-farm, non-residential | $308,093 |
| Multifamily residential real estate | $2,770,311 |
| 1-4 family residential loans | $829,155 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $647,704 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $14,331 |
| Credit card loans | $0 |
| Related Plans | $11,500 |
| Consumer Auto Loans | $13 |
| Other loans to individuals | $2,818 |
| All other loans & leases | $241,089 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $7,571 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $3,348 |
| Non 1-4 family restructured loans & leases | $1,591 |
| Total loans and leases (foreign) | $0 |
First Foundation Bank had $5,285,003,000 of loans outstanding in 2020. $4,406,079,000 of loans were in real estate loans. $57,028,000 of loans were in development loans. $2,770,311,000 of loans were in multifamily mortgage loans. $829,155,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $13,000 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 | 274 | $105,702 | $385,774 |
| Nonfarm, nonresidential loans - <$100k | 22 | $1,154 | $52,455 |
| Nonfarm, nonresidential loans - $100-250k | 34 | $5,210 | $153,235 |
| Nonfarm, nonresidential loans - $250k-1MM | 218 | $99,338 | $455,679 |
| Commercial & Industrial, US addressed loans - <$1MM | 827 | $89,348 | $108,039 |
| Commercial & Industrial, US addressed loans - <$100k | 350 | $11,785 | $33,671 |
| Commercial & Industrial, US addressed loans - $100-250k | 197 | $19,664 | $99,817 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 280 | $57,899 | $206,782 |