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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	483.29	488.72	370.08	224.82	216.8	220.95
Interest Income on Investments	109.44	84.97	33.8	22.4	27.09	27.81
Total Interest Income	592.73	573.69	403.88	247.22	243.89	248.76
Interest Paid on Deposits	361.57	310.76	61.85	13.45	39.43	64.18
Interest Paid on Borrowings	54.38	60.63	23.34	0.48	7.82	14.62
Total Interest Expense	415.95	371.39	85.19	13.93	47.25	78.81
Net Interest Income	176.78	202.31	318.69	233.28	196.64	169.95
Net Interest Income Growth (YoY)	-34.56%	-36.52%	36.61%	18.63%	15.70%	9.22%
Trust Income	35.26	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	11.79	11.78	3.19	12.97	10.04	8.9
Total Non-Interest Income	51.92	49.35	48.23	70.45	54.65	41.78
Non-Interest Income Growth (YoY)	20.22%	2.32%	-31.54%	28.92%	30.81%	16.79%
Revenues Before Loan Losses	228.7	251.66	366.92	303.74	251.29	211.73
Provision for Loan Losses	-2.02	-0.48	0.53	3.87	6.75	2.64
Revenue	230.71	252.14	366.39	299.87	244.55	209.09
Revenue Growth (YoY)	-25.78%	-31.18%	22.18%	22.62%	16.96%	11.72%
Salaries and Employee Benefits	74.31	82.62	106.76	85.15	71.79	68.3
Occupancy Expenses	29.4	29.36	28.6	18.42	17.81	15.01
Selling, General & Administrative	23.93	24.3	24.77	21.54	16.2	14.95
Other Non-Interest Expense	98.7	100.66	56.47	20.37	19.97	31.83
Total Non-Interest Expense	226.34	236.95	216.59	145.48	125.78	130.08
EBT Excluding Unusual Items	4.38	15.19	149.8	154.39	118.77	79.01
Pretax Income	4.38	-200.06	149.8	151.79	118.77	79.5
Income Tax Expense	-4.23	-1	39.29	42.27	34.4	23.26
Net Income	8.61	-199.06	110.51	109.51	84.37	56.24
Net Income to Common	8.61	-199.06	110.51	109.51	84.37	56.24
Net Income Growth	-	-	0.91%	29.80%	50.02%	30.92%
Basic Shares Outstanding	56	56	56	45	45	45
Diluted Shares Outstanding	56	56	56	45	45	45
Shares Change (YoY)	0.16%	-0.11%	24.26%	1.24%	-0.02%	5.51%
EPS (Basic)	0.15	-3.53	1.96	2.42	1.89	1.26
EPS (Diluted)	0.15	-3.53	1.96	2.41	1.88	1.25
EPS Growth	-	-	-18.73%	28.19%	50.40%	23.76%
Dividend Per Share	0.050	0.160	0.440	0.360	0.280	0.200
Dividend Growth	-85.71%	-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.