First Foundation Bank is headquartered in Irvine and is the 21st largest bank in the state of California. It is also the 190th largest bank in the nation. It was established in 2007 and as of December of 2019, it had grown to 428 employees at 21 locations. First Foundation Bank's savings rates are 3X the national average, and it has an A health rating.
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.
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.
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.
The people that work at First Foundation are wonderful. A breath of fresh air compared to citi. I saw a promotion for their savings account and couldn't pass up the rate. I had a lot of question so I called the 1-800 number. I was quickly transferd to an "actual" banker and he walked me through the process and answered all my questions. I'm all signed up and funded my account with the mobile deposit feature. I look forward to earning a decent rate on my savings.
|FDIC Certificate #||58647|
|Return on Assets - YTD||0.95%|
|Return on Equity - YTD||9.9%|
|Annual Interest Income||$253.7MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$6.30B$5.84B|
|Loans||Q4 2019vs Q4 2018||$5.03B$4.78B|
|Deposits||Q4 2019vs Q4 2018||$4.91B$4.55B|
|Equity Capital||Q4 2019vs Q4 2018||$611.0MM$550.9MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$20.8MM$19.0MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$13.3MM$12.6MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$0$815.00K|
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.75%*||$1k*||$3m||Online Savings Account - New Money Only|
|OTHER TIERS: 0.10% → Up to $1k|