First Foundation Inc. Files 2024 10-K
Ticker: FFWM · Form: 10-K · Filed: 2025-03-17T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
FFWM filed its 2024 10-K. Check financials for 2024.
AI Summary
First Foundation Inc. filed its 2024 10-K on March 17, 2025, reporting on its fiscal year ending December 31, 2024. The company, previously known as Keller Financial Group, is incorporated in California and operates in the state commercial banks sector. Its principal business address is in Irvine, California.
Why It Matters
This filing provides a comprehensive overview of First Foundation Inc.'s financial performance and condition for the fiscal year 2024, crucial for investors and stakeholders to assess the company's stability and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Players & Entities
- First Foundation Inc. (company) — Filer of the 10-K
- 20241231 (date) — Fiscal year end
- 20250317 (date) — Filing date
- 0001413837 (company) — Central Index Key
- 6022 (company) — Standard Industrial Classification (State Commercial Banks)
- CA (company) — State of Incorporation
- KELLER FINANCIAL GROUP (company) — Former company name
- 20071001 (date) — Date of name change
FAQ
What is the primary business of First Foundation Inc. according to its SIC code?
First Foundation Inc.'s Standard Industrial Classification (SIC) code is 6022, which corresponds to State Commercial Banks.
When did First Foundation Inc. file its 2024 annual report?
First Foundation Inc. filed its 2024 10-K on March 17, 2025.
What was the previous name of First Foundation Inc.?
The former name of First Foundation Inc. was Keller Financial Group.
In which state is First Foundation Inc. incorporated?
First Foundation Inc. is incorporated in California (CA).
What is the fiscal year end date for the period covered by this 10-K filing?
The conformed period of report for this 10-K filing is December 31, 2024.
From the Filing
0001558370-25-003129.txt : 20250317 0001558370-25-003129.hdr.sgml : 20250317 20250317164047 ACCESSION NUMBER: 0001558370-25-003129 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 142 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250317 DATE AS OF CHANGE: 20250317 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-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36461 FILM NUMBER: 25745170 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-K 1 ffwm-20241231x10k.htm 10-K FIRST FOUNDATION INC._December 31, 2024 http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherLiabilities 0001413837 2024 FY false http://fasb.org/us-gaap/2024#NoninterestIncomeOtherOperatingIncome http://fasb.org/us-gaap/2024#NoninterestIncomeOtherOperatingIncome http://fasb.org/us-gaap/2024#NoninterestIncomeOtherOperatingIncome http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit http://fasb.org/us-gaap/2024#IncomeTaxExpenseBenefit 29811 56467623 82365388 http://fasb.org/us-gaap/2024#InvestmentAdvisoryManagementAndAdministrativeServiceMember http://fasb.org/us-gaap/2024#FederalHomeLoanBankCertificatesAndObligationsFHLBMember P3Y P3M P5M P3M 0.0050 900000 1900000 3400000 http://fasb.org/us-gaap/2024#OtherAssets http://fasb.org/us-gaap/2024#OtherLiabilities 0001413837 ffwm:UnsecuredFederalFundsMember 2024-12-31 0001413837 ffwm:UnsecuredFederalFundsMember 2023-12-31 0001413837 ffwm:ResidentialMultifamilyMember us-gaap:RealEstateLoanMember 2024-08-01 2024-08-31 0001413837 ffwm:SubordinatedNotesDue2032Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2023-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember 2024-01-01 2024-12-31 0001413837 ffwm:SubordinatedNotesDue2032Member 2024-01-01 2024-12-31 0001413837 ffwm:SubordinatedNotesDue2030Member 2024-01-01 2024-12-31 0001413837 us-gaap:CommonStockMember ffwm:July2024CapitalRaiseMember 2024-07-01 2024-07-31 0001413837 ffwm:SeriesNoncumulativeConvertiblePreferredStockMember ffwm:July2024CapitalRaiseMember 2024-07-01 2024-07-31 0001413837 ffwm:SeriesBNoncumulativeConvertiblePreferredStockMember ffwm:July2024CapitalRaiseMember 2024-07-01 2024-07-31 0001413837 us-gaap:RetainedEarningsMember 2024-12-31 0001413837 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001413837 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 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 2022-12-31 0001413837 us-gaap:Addi