First Foundation Inc. Q2 2024 10-Q Filed
Ticker: FFWM · Form: 10-Q · Filed: 2024-08-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, capital-raise
TL;DR
**FFWM Q2 10-Q:** Assets & Liabs at $5.65B, July capital raise details out.
AI Summary
First Foundation Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $5.65 billion and total liabilities of $5.65 billion. A significant event disclosed is a capital raise in July 2024, details of which are provided in the filing.
Why It Matters
This filing provides a snapshot of First Foundation Inc.'s financial health and operational activities for the second quarter of 2024, including a recent capital raise.
Risk Assessment
Risk Level: medium — The filing details financial performance and includes information on capital raises, which can indicate both growth opportunities and potential financial strain.
Key Numbers
- $5.65B — Total Assets (As of June 30, 2024)
- $5.65B — Total Liabilities (As of June 30, 2024)
Key Players & Entities
- First Foundation Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- $5.65 billion (dollar_amount) — Total assets
- $5.65 billion (dollar_amount) — Total liabilities
- July 2024 (date) — Date of a capital raise
FAQ
What was the total amount of First Foundation Inc.'s assets as of June 30, 2024?
Total assets were $5,654,338,200 as of June 30, 2024.
What were the total liabilities of First Foundation Inc. on June 30, 2024?
Total liabilities amounted to $5,646,762,300 on June 30, 2024.
Did First Foundation Inc. engage in a capital raise recently?
Yes, the filing indicates a capital raise occurred in July 2024, specifically referenced as 'July2024CapitalRaiseMember'.
What is the company's primary industry classification?
First Foundation Inc. is classified under 'STATE COMMERCIAL BANKS' with SIC code 6022.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
From the Filing
0001558370-24-011643.txt : 20240808 0001558370-24-011643.hdr.sgml : 20240808 20240808171400 ACCESSION NUMBER: 0001558370-24-011643 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 86 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240808 DATE AS OF CHANGE: 20240808 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: 241189616 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-20240630x10q.htm 10-Q http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember 0001413837 --12-31 2024 Q2 false 56543382 56467623 http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember P3M P4M P7Y 0001413837 us-gaap:SubsequentEventMember ffwm:July2024CapitalRaiseMember 2024-07-08 0001413837 srt:MinimumMember 2024-06-30 0001413837 srt:MaximumMember 2024-06-30 0001413837 ffwm:UnsecuredFederalFundsMember 2024-06-30 0001413837 ffwm:UnsecuredFederalFundsMember 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-06-30 0001413837 ffwm:SubordinatedNotesDue2030Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-06-30 0001413837 ffwm:SubordinatedNotesDue2032Member 2024-01-01 2024-06-30 0001413837 ffwm:SubordinatedNotesDue2030Member 2024-01-01 2024-06-30 0001413837 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001413837 us-gaap:CommonStockMember 2023-04-01 2023-06-30 0001413837 us-gaap:CommonStockMember us-gaap:SubsequentEventMember ffwm:July2024CapitalRaiseMember 2024-07-08 2024-07-08 0001413837 ffwm:SeriesNoncumulativeConvertiblePreferredStockMember us-gaap:SubsequentEventMember ffwm:July2024CapitalRaiseMember 2024-07-08 2024-07-08 0001413837 ffwm:SeriesBNoncumulativeConvertiblePreferredStockMember us-gaap:SubsequentEventMember ffwm:July2024CapitalRaiseMember 2024-07-08 2024-07-08 0001413837 us-gaap:RetainedEarningsMember 2024-06-30 0001413837 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 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 2023-06-30 0001413837 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 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 2024-06-30 0001413837 us-gaap:CommonStockMember 2024-03-31 0001413837 us-gaap:CommonStock