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Dec 31, 2021
First Foundation Q4 2021 Earnings Report
Reported strong Q4 2021 results with EPS of $0.51 and revenue of $75.8 million.
Key Takeaways
First Foundation Inc. reported a net income of $23.9 million, or $0.51 per diluted share, for Q4 2021. Total revenues for the quarter were $75.8 million. The company also completed the acquisition of TGR Financial and announced a dividend payment of $0.11 per common share.
Net income for the fourth quarter was $23.9 million, with earnings per share of $0.51.
Total revenues in the fourth quarter reached $75.8 million.
Return on average assets was 1.15%.
Net interest margin was 3.17%, with a 19% year-over-year growth in net interest income.
First Foundation
First Foundation
First Foundation Revenue by Segment
Revenue by Segment
Banking Revenue
CapyFin.comWealth Management Revenue
CapyFin.com Forward Guidance
First Foundation is positioned for growth in 2022, with expansion into Florida and Texas, investments in existing locations, and the launch of a new mobile app.
Positive Outlook
- Banking, wealth management, and trust businesses experiencing record levels of interest.
- Expansion into Florida and build-out in Texas are off to a great start.
- Continued investment in existing locations across California, Nevada, and Hawaii.
- Launch of a new mobile app offering fintech solutions.
- Solid deposit levels with loan-to-deposit ratio at 84%.
Challenges Ahead
- Uncertainty in the overall economic environment.
- Potential impacts from the integration of operations in Florida.
- Risks associated with changes in interest rates.
- Dependence on key personnel.
- Competition from other financial institutions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income