First Foundation Inc. (FFWM)

First Foundation Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	479.21	488.72	370.08	224.82	216.8	220.95
Interest Income on Investments	125.91	84.97	33.8	22.4	27.09	27.81
Total Interest Income	605.12	573.69	403.88	247.22	243.89	248.76
Interest Paid on Deposits	365.89	310.76	61.85	13.45	39.43	64.18
Interest Paid on Borrowings	65.41	60.63	23.34	0.48	7.82	14.62
Total Interest Expense	431.29	371.39	85.19	13.93	47.25	78.81
Net Interest Income	173.83	202.31	318.69	233.28	196.64	169.95
Net Interest Income Growth (YoY)	-25.88%	-36.52%	36.61%	18.63%	15.70%	9.22%
Trust Income	35.61	35.27	38.79	36.02	29.47	28.66
Gain (Loss) on Sale of Investments	3.51	2.3	6.26	-	-	-
Other Non-Interest Income	-105.82	11.78	3.19	12.97	10.04	8.9
Total Non-Interest Income	-65.36	49.35	48.23	70.45	54.65	41.78
Non-Interest Income Growth (YoY)	-	2.32%	-31.54%	28.92%	30.81%	16.79%
Revenues Before Loan Losses	108.46	251.66	366.92	303.74	251.29	211.73
Provision for Loan Losses	0.28	-0.48	0.53	3.87	6.75	2.64
Revenue	108.18	252.14	366.39	299.87	244.55	209.09
Revenue Growth (YoY)	-60.91%	-31.18%	22.18%	22.62%	16.96%	11.72%
Salaries and Employee Benefits	75.47	82.62	106.76	85.15	71.79	68.3
Occupancy Expenses	29.16	29.36	28.6	18.42	17.81	15.01
Selling, General & Administrative	24.49	24.3	24.77	21.54	16.2	14.95
Other Non-Interest Expense	93.24	100.66	56.47	20.37	19.97	31.83
Total Non-Interest Expense	222.36	236.95	216.59	145.48	125.78	130.08
EBT Excluding Unusual Items	-114.17	15.19	149.8	154.39	118.77	79.01
Pretax Income	-114.17	-200.06	149.8	151.79	118.77	79.5
Income Tax Expense	-38.43	-1	39.29	42.27	34.4	23.26
Net Income	-75.75	-199.06	110.51	109.51	84.37	56.24
Net Income to Common	-75.75	-199.06	110.51	109.51	84.37	56.24
Net Income Growth	-	-	0.91%	29.80%	50.02%	30.92%
Basic Shares Outstanding	59	56	56	45	45	45
Diluted Shares Outstanding	59	56	56	45	45	45
Shares Change (YoY)	4.84%	-0.11%	24.26%	1.24%	-0.02%	5.51%
EPS (Basic)	-1.28	-3.53	1.96	2.42	1.89	1.26
EPS (Diluted)	-1.28	-3.53	1.96	2.41	1.88	1.25
EPS Growth	-	-	-18.73%	28.19%	50.40%	23.76%
Dividend Per Share	0.010	0.160	0.440	0.360	0.280	0.200
Dividend Growth	-96.15%	-63.64%	22.22%	28.57%	40.00%	-
Effective Tax Rate	-	-	26.23%	27.85%	28.96%	29.26%

Source: S&P Capital IQ. Banks template. Financial Sources.