First Foundation Inc. Q1 2024 Update
Ticker: FFWM · Form: 10-Q · Filed: 2024-05-09T00:00:00.000Z
Sentiment: neutral
Topics: financials, capital-structure, debt
Related Tickers: FFWM
TL;DR
**FFWM Q1 2024:** Retained earnings & paid-in capital updated. Notes due 2030/2032 active.
AI Summary
First Foundation Inc. reported its first quarter 2024 results ending March 31, 2024. The company's financial statements show retained earnings and additional paid-in capital as of March 31, 2024. Specific dollar amounts for these accounts are not detailed in this excerpt, but the filing indicates activity related to unsecured federal funds and subordinated notes due in 2030 and 2032.
Why It Matters
This filing provides insight into the financial health and capital structure of First Foundation Inc. during the first quarter of 2024, which can influence investor confidence and stock performance.
Risk Assessment
Risk Level: medium — The filing details financial instruments and capital structure, which can be subject to market fluctuations and regulatory changes.
Key Numbers
- 2024-03-31 — Reporting Period End (End of the first quarter of 2024)
- 2023-12-31 — Prior Period End (End of the fourth quarter of 2023)
Key Players & Entities
- First Foundation Inc. (company) — Filer
- 20240331 (date) — Reporting period end date
- 20240509 (date) — Filing date
- 0001413837 (company) — Central Index Key
- 6022 (industry_code) — Standard Industrial Classification
- CA (state) — State of Incorporation
- 949-222-2030 (phone_number) — Business Phone
- 2030 (date) — Maturity year for subordinated notes
- 2032 (date) — Maturity year for subordinated notes
FAQ
What were First Foundation Inc.'s retained earnings as of March 31, 2024?
The filing indicates 'us-gaap:RetainedEarningsMember' as of 2024-03-31, but the specific dollar amount is not provided in this excerpt.
What was the amount of additional paid-in capital for First Foundation Inc. on March 31, 2024?
The filing lists 'us-gaap:AdditionalPaidInCapitalMember' as of 2024-03-31, however, the exact figure is not detailed in this section.
Are there any subordinated notes maturing in 2030 or 2032?
Yes, the filing mentions 'ffwm:SubordinatedNotesDue2030Member' and 'ffwm:SubordinatedNotesDue2032Member' with activity noted for the period January 1, 2024, to March 31, 2024.
What is First Foundation Inc.'s Standard Industrial Classification code?
First Foundation Inc.'s SIC code is 6022, which corresponds to 'STATE COMMERCIAL BANKS'.
When was First Foundation Inc. incorporated?
First Foundation Inc. was incorporated in California (CA).
From the Filing
0001558370-24-007559.txt : 20240509 0001558370-24-007559.hdr.sgml : 20240509 20240509143532 ACCESSION NUMBER: 0001558370-24-007559 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 86 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240509 DATE AS OF CHANGE: 20240509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: First Foundation Inc. CENTRAL INDEX KEY: 0001413837 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36461 FILM NUMBER: 24929943 BUSINESS ADDRESS: STREET 1: 18101 VON KARMAN AVE STREET 2: SUITE 700 CITY: IRVINE STATE: CA ZIP: 92612 BUSINESS PHONE: 949-222-2030 MAIL ADDRESS: STREET 1: 18101 VON KARMAN AVE STREET 2: SUITE 700 CITY: IRVINE STATE: CA ZIP: 92612 FORMER COMPANY: FORMER CONFORMED NAME: KELLER FINANCIAL GROUP DATE OF NAME CHANGE: 20071001 10-Q 1 ffwm-20240331x10q.htm 10-Q http://fasb.org/us-gaap/2023#InvestmentAdvisoryManagementAndAdministrativeServiceMember 0001413837 --12-31 2024 Q1 false http://fasb.org/us-gaap/2023#InvestmentAdvisoryManagementAndAdministrativeServiceMember P5Y1M28D 0001413837 ffwm:UnsecuredFederalFundsMember 2024-03-31 0001413837 srt:MinimumMember 2023-12-31 0001413837 srt:MaximumMember 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-03-31 0001413837 ffwm:SubordinatedNotesDue2030Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-03-31 0001413837 ffwm:SubordinatedNotesDue2032Member 2024-01-01 2024-03-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2024-01-01 2024-03-31 0001413837 us-gaap:RetainedEarningsMember 2024-03-31 0001413837 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001413837 us-gaap:RetainedEarningsMember 2023-12-31 0001413837 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001413837 us-gaap:RetainedEarningsMember 2023-03-31 0001413837 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001413837 us-gaap:RetainedEarningsMember 2022-12-31 0001413837 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001413837 us-gaap:CommonStockMember 2024-03-31 0001413837 us-gaap:CommonStockMember 2023-12-31 0001413837 us-gaap:CommonStockMember 2023-03-31 0001413837 us-gaap:CommonStockMember 2022-12-31 0001413837 us-gaap:FederalReserveBankAdvancesMember 2024-03-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2024-03-31 0001413837 us-gaap:FederalReserveBankAdvancesMember 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2023-12-31 0001413837 ffwm:OvernightFhlbAdvanceMember 2023-12-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001413837 us-gaap:RevolvingCreditFacilityMember 2017-12-31 0001413837 us-gaap:RevolvingCreditFacilityMember 2024-03-31 0001413837 ffwm:BankTermFundingProgramMember 2024-03-31 0001413837 us-gaap:RevolvingCreditFacilityMember 2023-12-31 0001413837 ffwm:BankTermFundingProgramMember 2023-12-31 0001413837 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2024-03-31 0001413837 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001413837 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001413837 us-gaap:FairValueInputsLevel3Member ffwm:BeneficialInterestFederalHomeLoanMortgageCorporationSecuritizationMe