First Foundation Bank

Overview / Commentary
18101 Von Karman Ave, 7th Floor
Irvine, CA 92612

First Foundation Bank is headquartered in Irvine and is the 20th largest bank in the state of California. It is also the 194th largest bank in the nation. It was established in 2007 and as of June of 2020, it had grown to 435 employees at 21 locations. First Foundation Bank's savings rates are 92% higher than the national average, and it has an A health rating.

Related Posts

First Foundation Dropping To 1.00% Today - 8/7/2020

I just received the following email. Not a bit surprising, but definitely disappointing. Hi Michael, We’re writing to let you know the interest rate on our Online Savings account is changing. Starting August 7, our Online Savings account will earn 1.00% Annual Percentage Yield (APY). We continue to offer a competitive rate—over 16x the national average. We have also recently added features like higher transfer limits, and an Online Checking account that includes Zelle® and the ability to automatically switch your existing bill pay and direct deposits. There’s no way to know for sure how interest rates will change in the coming months, but you can always count on us to offer a great rate and be upfront with information. Thank you for trusting us with your savings. Member FDIC National Average from FDIC Weekly National Rates and Rate Caps and is accurate as of 8/3/20. Data charges may apply. Check with your mobile phone carrier for details. Zelle and the Zelle related marks are w

Rate Drop To 1.20% - 6/19/2020

On June 19, the Annual Percentage Yield (APY) on our Online Savings account is changing to 1.20%.

Rate Drop To 1.45% - 6/4/2020

Rate was decreased inter-day, it was still 1.6% when I checked mid-morning. Keep in mind you earn no interest if your balance falls below $1,000.

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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.

A Fine Bank

First Foundation has the Integrity other banks do not. Other banks offer attractive rates for new money and at the first sign of lower market rates drop the yield. Customers Bank comes to mind. They were offering 2.40% and dropped it to 1.95% after getting the new depositors aboard. FF feels an obligation to the new money depositors to maintain the 2.40%. I like that a lot. I closed Customers, Vio, Popular, Western, Salem5, Webank, EastBoston, United, My Savings, IGO, Ally and others that suck in new money and drop the trap door on rates.
You'll like this bank.

Great Rates. Great Service.

Opened a joint account online with me and my wife. App asked some pretty standard out-of-wallet questions, and I also had to upload a picture of our ID's. Was easily able to move funds in via ACH from Capital One from both Capital One's system and First Foundation Bank's. I also called into their help line, and every one was super nice and helpful.

Cumbersome To Do Business

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I opened an online savings account because they offer a competitive rate and have a physical branch in case I need it. The application process is lengthy which should have been a red flag but i thought they were just being conservative for my security.
First unpleasant surprise - $5k/day limit on online check deposit, $10k/day on online ACH deposit transfers. I wanted to deposit $50k, so this would require multiple transactions, multiple days!
2nd surprise - scheduled future transfers do not appear on my account's scheduled transfers page! Good thing I've not deleted the confirmation emails for 2 of them. The others, now I just have to rely on my memory. Oh and there's no menu for canceling or changing transfer date once it's scheduled.
I haven't tried to withdraw funds -
3rd, I wanted to open another account and thought there would be a streamlined process since they've already verified my identity and have my drivers license on file. But no, I would have to go through the same lengthy and cumbersome new account opening process. So I decided not to open one and just keep my funds elsewhere.
One good thing, their email responses are very quick albeit no solution to problems.
Thinking of closing my account now. Their higher rates not worth the hassle of doing business with them.



Health Grade Components

FDIC Certificate #58647
Year Established2007
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD10.07%
Annual Interest Income$128.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$7.12B$6.27B
LoansQ2 2020vs Q2 2019$5.64B$5.23B
DepositsQ2 2020vs Q2 2019$5.66B$4.76B
Equity CapitalQ2 2020vs Q2 2019$644.7MM$593.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$28.1MM$20.2MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$15.6MM$15.0MM
Real Estate OwnedQ2 2020vs Q2 2019$0$465.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Foundation Bank Savings Account Rates

1.00%*-$5mOnline Savings Account - New Money Only
OTHER TIERS: 0.35% $5m+


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