Company: FFWM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001558370-25-007151
Chunk: 3

Company: First Foundation Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1F
Chunk 3
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ITEM 1.FINANCIAL STATEMENTS

FIRST FOUNDATION INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

​

​​​​​​​​​​March 31, ​December 31, ​​​2025​2024​​​​(unaudited)​​​​ASSETS    ​      ​  ​Cash and cash equivalents​$ 1,013,855​$ 1,016,132​​​​​​​​​Securities available-for-sale ("AFS"), at fair value (amortized cost of $1,535,737 and $1,335,225 at March 31, 2025 and December 31, 2024 respectively; net of allowance for credit losses of $4,027 and $4,134 at March 31, 2025 and December 31, 2024 respectively)​  1,517,953​  1,313,885​Securities held-to-maturity ("HTM") (fair value of $625,108 and $636,840 at March 31, 2025 and December 31, 2024, respectively)​​ 691,931​​ 712,105​Loans held for sale ("LHFS")​  1,312,206​  1,285,819​Loans held for investment​  7,684,580​  7,941,393​Less: Allowance for credit losses​  (35,200)​  (32,302)​Total loans held for investment, net​  7,649,380​  7,909,091​​​​​​​​​Investment in Federal Home Loan Bank ("FHLB") stock​​ 44,619​  37,869​Accrued interest receivable​​ 51,132​​ 54,804​Deferred taxes​  80,000​  76,650​Premises and equipment, net​  36,647​  35,806​Real estate owned ("REO")​​ 6,210​​ 6,210​Bank owned life insurance​​ 50,336​​ 49,993​Core deposit intangibles​​ 3,245​​ 3,558​Derivative assets​​ 205​​ 5,086​Other assets​  130,678​  138,257​Total Assets​$