First Foundation Bank

Overview / Commentary
18101 Von Karman Ave
Irvine, CA 92612

First Foundation Bank is headquartered in Irvine and is the 17th largest bank in the state of California. It is also the 148th largest bank in the nation. It was established in 2007 and as of June of 2022, it had grown to 657 employees at 30 locations. First Foundation Bank's money market rates are 8X the national average, and it has an A health rating.

Related Posts

New Savings Rate - 11/9/2022

First Foundation Bank personal savings account has increased to 3.56%

First Foundation Bank Raises Online Savings To 3.60% APY - 11/9/2022

Just received email: "We are increasing the rate of your Online Savings account today to 3.60% Annual Percentage Yield (APY)."

First Foundation Bank Online Savings To 3.60% - 11/9/2022

We are increasing the rate of your Online Savings account today to 3.60% Annual Percentage Yield (APY).

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High Rates, And Successful Interactions

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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!

High Savings Rates. Difficult Application Process.

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On line set up was not an easy process. First application was rejected because I scanned my driver license instead of taking a photo and uploading to them(they didn't let me know the reason my application was denied until I called). They won't let you scan your ID. So I submitted a second application and took an iPhone photo of my passport and sent to them by email and it was approved. However, there still was a delay in getting account set up so I called customer service. I left a call back number and they called back after about 3 hours later. Then they had a problem identifying my wife's SS number on the application. So I had to send them a photo of her SS card. Then they had a computer problem and had to call back. Finally, the problem was resolved and the account was set up.Their website is very easy to use.

Poor Customer Service

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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.

First Time For Everything.....

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I have never, ever, ever, ever......EVER been turned down when applying for a SAVINGS ACCOUNT.....until how.
Filled out all the necessary and uber personal information, including photo copies of both Passports and State ID. Felt more like applying for a loan than opening a savings account.
Got an email stating we were denied based on credit reporting...what?!? Our credit scores are excellent.
We annually make over 6 figures, have great credit reports, low debt, and had every intention to fund well over 6 figures.....why would we be denied??
Honestly, I didn't even know you could be denied an account by a bank without really good cause. Guess we don't have the password, or secret handshake to get into this club....if it even exists?? I'm really hoping this isn't a scam, because they literally have all our personal info and our beneficiaries info as well....
Please read the reviews and think twice before applying with all your personal info.
I read the reviews, but in my arrogance, assumed we wouldn't have problems.



Health Grade Components

FDIC Certificate #58647
Year Established2007
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.23%
Return on Equity - YTD11.41%
Annual Interest Income$172.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$11.23B$7.92B
LoansQ2 2022vs Q2 2021$9.39B$5.99B
DepositsQ2 2022vs Q2 2021$9.60B$7.12B
Equity CapitalQ2 2022vs Q2 2021$1.20B$730.8MM
Loan Loss AllowanceQ2 2022vs Q2 2021$33.2MM$22.3MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$14.0MM$16.2MM
Real Estate OwnedQ2 2022vs Q2 2021$6.2MM$0
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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

3.60%*-$5mOnline Savings Account - New Money Only
OTHER TIERS: 0.50% $5m+

First Foundation Bank Money Market Rates

3.60%*-$5mOnline Money Market Account
OTHER TIERS: 0.50% $5m+


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