First Foundation Q4 Revenue Flat, CEO Emphasizes Merger Plans
Reports Q4 revenue $64.68M vs. $64.68M a year ago. Adjusted tangible book value per common share was $8.10 vs. $8.16 last quarter and $9.36 a year ago. Q4 et interest margin was 1.36% vs. 1.60% for the prior quarter. CEO Thomas Shafer said, "Q4 was shaped by our announcement in October of the pending merger with FirstSun Capital Bancorp. Our entire team has been focused on integration planning and preparing to make this next chapter an outstanding experience for our clients, team members, and shareholders. The announcement gave us the ability to accelerate actions we have previously discussed for our balance sheet transformation. These actions have significantly reduced our reliance on high-cost funding and reduced our loan-to-deposit ratio to 75.3%. We are confident as we look forward in our ability to deliver first-quartile performance as we continue serving some of the best markets in the country with a full suite of complimentary products and services." CFO Jamie Britton said, "2025 brought significant change to First Foundation's balance sheet and risk profile. Meaningful progress towards selling $1.9B of our multifamily loan portfolio reduced our CRE concentration below 350%; continued focus on reducing our high-dollar, rate-sensitive deposit balances improved our funding profile and in conjunction with targeted hedging strategies brought our structural interest rate risk positioning in line with our peers; our ACL improved to 1.39% of loans; and total risk-based capital ended the year at 15.51%..."
