First Foundation Bank is headquartered in Irvine and is the 17th largest bank in the state of California. It is also the 153rd largest bank in the nation. It was established in 2007 and as of March of 2022, it had grown to 632 employees at 29 locations. First Foundation Bank's savings rates are 3X the national average, and it boasts an A+ health rating.
Related Posts
6/17 - A 1.65% Savings Account At First Foundation Bank
6/17 - First Foundation Online Savings Increase To 1.65%
5/5 - First Foundation Bank Online Savings Account Is New Rate Leader
5/4 - First Foundation Raises Online Savings To 1.00%
1/8 - Rate Drop - First Foundation Online Savings - 0.75% To 0.60%
10/20 - Rate Drop To 0.75% 10/20/20
8/7 - First Foundation Dropping To 1.00% Today
6/19 - Rate Drop To 1.20%
6/4 - Rate Drop To 1.45%
5/21 - Current Rate Leader First Foundation Savings Drops To 1.60% APY
5/10 - Updated Minimum Balance Required To Earn Stated APY From $1000 To $.01
3/25 - Rate Drop To 1.735% - 3/24/20
3/6 - Grandfathered 2.20% APY Accounts Down To 2.00% Effective Today March 6, 2020
2/5 - First Foundation Bank Online Savings APY Remains Competitive
High Rates, And Successful Interactions
FF's rate's been consistently higher than other banks. They went down after I opened, but so did everyone else and they were still higher. They've just raised to 1.65% when everyone else is at 1% or .7%. They're A or A+ rated.
The time I needed to add higher amounts (or was it remove?), I got a wire fee waver and it was done promptly.
I tried ACH at first but each limit doesn't open up until the last ACH has fully cleared, so it takes too long. I use my broker (who has high limits) to push pull larger amounts if needed, without problems.
The customer service is mixed. Some interactions go smoothly. Others not so well. The online messaging person isn't very good. Chat wasn't very clear either. Tone's are cheery though.
You need to ask for the new accounts dept.
Recently needed to deposit a large check. New accounts raised my mobile limit for the day.
Mostly my funds sit there and I do nothing, so it's worked well for me!
Friendly & Helpful Customer Service
I opened a savings account here for the 2.00% instead of the 0.05% offered by my previous bank. I called customer service to have them walk me through opening the account and the person I spoke to was really nice and helpful. I had a particularly positive experience this week and wanted to share. Excited to actually earn something on my savings.
Good Bank For Interest Rate 2022
Their web account is clunky, but it works.
Poor Customer Service
My savings account was compromised but there were no attempts to withdraw funds. It clearly wasn't First Foundation's fault, but no one bothered to contact me as to why my account had been locked. For more than a week, I made repeated calls to the customer service department. No one would get back with me. I finally resorted to calling the corporate office. That worked. At that point, it took weeks to get things resolved so I could withdraw my funds.
First Foundation's current interest rate is for "new money only." Translated, that means that existing customers will not see the increase in their savings account interest rate and that it's very unlikely that your "new money" will see future interest rate increases.
Data as of Q1 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58647 |
| Year Established | 2007 |
| Employees | 632 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.21% |
| Return on Equity - YTD | 11.14% |
| Annual Interest Income | $81.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $10.45B$7.04B |
| Loans | Q1 2022vs Q1 2021 | $7.87B$5.61B |
| Deposits | Q1 2022vs Q1 2021 | $9.04B$6.27B |
| Equity Capital | Q1 2022vs Q1 2021 | $1.17B$713.5MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $32.8MM$23.2MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $10.8MM$17.9MM |
| Real Estate Owned | Q1 2022vs Q1 2021 | $6.2MM$0 |
