First Foundation Bank in Irvine, California (CA)



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First Foundation Bank
GeneralFDIC Certificate #: 58647
Status: Active
Federal Reserve ID: 3637685
Date Established: October 01, 2007
WWW: http://www.firstfoundationbank.com
Trust Powers Granted: Yes
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 18049
FDIC's unique #: 461041
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: October 01, 2007
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 2600 Michelson Avenue, Suite 140, Irvine, CA 92612
County: Orange
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Orange County, CA (#5945)
Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
Core Based Statistical Division: Santa Ana-Anaheim-Irvine, CA (#42044)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $548.6 mil
Equity capital: $44.0 mil
Deposits held in domestic offices: $409.9 mil
Return on assets (ROA): 1.90% ($10.4 mil)
Quarterly return on assets: 1.31% ($7.2 mil)
Return on Equity (ROE): 23.68% ($10.4 mil)
Quarterly return on equity: 16.14% ($7.1 mil)
Net income: $9.2 mil
Quarterly Net income: $1.7 mil
Pretax return on assets: 2.23% ($12,233.2 mil)
Quarterly Pretax return on assets: 1.86% ($10,203.5 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)68
Total assets$548,574
Cash and due from depository institutions$9,594
Interest-bearing balances$4,064
Securities$10,186
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$516,861
Loan loss allowance $6,550
Trading account assets$0
Bank premises and fixed assets$757
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$11,176
Life insurance assets$548,574
Total liabilities and capital$504,551
Total liabilities$409,947
Total deposits$340,575
Interest-bearing deposits$409,947
Deposits held in domestic offices$78
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$91,000
Other borrowed funds $0
Subordinated debt $3,604
All other liabilities $44,023
Total equity capital$44,023
Total bank equity capital$44,023
Perpetual preferred stock$0
Common stock$39,000
Surplus$2,127
Undivided profits $2,896
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $0
Long-term assets (5+ years) $1,836
Average Assets, year-to-date $531,111
Average Assets, quarterly $0
Volatile liabilities $484,963
Insider loans $532,963
FHLB advances $360,855
Loans and leases held for sale $548,588
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $44,037
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $40,838
Derivatives$1,375
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $23,245
Total interest expense $2,882
Net interest income $20,363
Provision for loan and lease losses $2,297
Total noninterest income $4,872
Fiduciary activities $0
Service charges on deposit accounts $33
Trading account gains & fees $0
Additional noninterest income $4,839
Total noninterest expense $12,137
Salaries and employee benefits $8,191
Premises and equipment expense $1,786
Additional noninterest expense $2,160
Pre-tax net operating income $10,801
Securities gains (losses) $0
Applicable income taxes $1,568
Income before extraordinary items $9,233
Extraordinary gains - net $0
Net income attributable to bank $9,233
Net charge-offs $0
Cash dividends $9,233
Sale, conversion, retirement of capital stock, net -$43
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.94%
Cost of funding earning assets 0.61%
Net interest margin 4.33%
Noninterest income to earning assets 1.04%
Noninterest expense to earning assets 2.58%
Net operating income to assets 1.90%
Return on assets (ROA) 1.90%
Pretax return on assets 2.23%
Return on equity (ROE) 23.68%
Retained earnings to average equity (YTD only) 23.68%
Net charge-offs to loans -0.01%
Credit loss provision to net charge-offs -5341.86%
Efficiency ratio0.00%
Assets per employee$48,096
Cash dividends to net income (YTD only)8.07%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.25%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 126.08%
Equity capital to assets 240.48%
Core capital (leverage) ratio 8.02%
Tier 1 risk-based capital ratio 8.03%
Total risk-based capital ratio 12.20%
Memoranda
Average assets$13
Average earning assets$484,963
Average equity $38,989
Average loans $470,580
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$137,340
Number of Accounts1
Personal trust and agency accounts$137,072
Employee benefit-defined contribution accounts$82,815
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$3,750
Investment management agency accounts$0
Other fiduciary accounts$50,507
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts57
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$3,750
Employee benefit-defined benefit accounts$0
Other retirement accounts$268
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$268
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3 California Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0461041First Foundation Bank2600 Michelson Avenue, Suite 140, Irvine, CA 92612October 01, 2007Full Service Brick and Mortar
1522149Pasadena Office Branch301 N. Lake Ave Suite 115, Pasadena, CA 91101July 21, 2010Full Service Brick and Mortar
2522179Desert Office Branch78100 Main Street, Suite 202, La Quinta, CA 92253May 02, 2011Full Service Brick and Mortar
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