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Dec 31, 2024
First Foundation Q4 2024 Earnings Report
First Foundation reported net loss for Q4 2024.
Key Takeaways
First Foundation Inc. reported a net loss of $14.1 million, or $0.17 per share (basic and diluted) for the fourth quarter of 2024. The company sold multifamily loans totaling approximately $489 million in principal balance. The results also include the recording of $20.1 million in additional provision for loan losses.
Sold approximately $489 million principal balance of multifamily loans held for sale at a price of 95.1, above initial and quarter-end fair-value pricing.
Recorded $20.1 million in provision for loan losses increasing the ratio of allowance for credit losses to total loans held for investment to 0.41%.
Welcomed Thomas C. Shafer as new CEO and Allen Parker as a new member of Board of Directors.
Net loss attributable to common shareholders was $14.1 million or net loss per share of $0.17 (basic and diluted) for the quarter.
Revenue by Segment
Forward Guidance
Company is focused on selling the remainder of the held-for-sale portfolio this year. These transactions are supporting our goals of reducing our CRE exposure, improving our funding risk profile, and freeing up capacity to further develop other lines of business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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