First Foundation Inc 2025年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedJune30,2025OR FIRST FOUNDATIONINC. (Exact name of Registrant as specified in its charter) (State or other jurisdictionof incorporation or organization) Securities registered pursuant to Section12(b)of the Act: Name of each exchange on which registeredNew York Stock Exchange FFWM Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that theregistrant was required to file such reports); and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File requiredto be submitted pursuant to Rule405 of Regulation S-T (232.405 of this chapter) during the preceding 12months (orfor such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the ExchangeAct. Largeacceleratedfiler☐Non-accelerated filer☐ Acceleratedfiler☒ Smallerreportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the ExchangeAct).Yes☐No☒ As of August 4, 2025, the registrant had82,386,071shares of common stock, $0.001 par value per share, FIRST FOUNDATIONINC. QUARTERLY REPORT ON FORM10-QFOR THE QUARTERLY PERIOD ENDED JUNE 30, 2025 TABLE OF CONTENTS Page No.PartI. Financial InformationItem1.Financial Statements1Item2 Management’s Discussion and Analysis of Financial Condition and Results ofOperations38Item3.Quantitative and Qualitative Disclosures About Market Risk67Item4.Controls and Procedures67PartII. Other InformationItem 1Legal Proceedings69Item1ARisk Factors69Item2 Unregistered Sales of Equity Securities and Use of Proceeds69Item 5Other Information69Item6 Exhibits70SIGNATURESS-1 PARTI— FINANCIAL INFORMATION ITEM1.FINANCIAL STATEMENTS FIRST FOUNDATIONINC.CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share amounts) FIRST FOUNDATIONINC.CONSOLIDATED STATEMENTS OF OPERATIONS- UNAUDITED(In thousands, except share and per share amounts) FIRST FOUNDATIONINC.CONSOLIDATED STATEMENTS OF CHANGESIN SHAREHOLDERS’ EQUITY- UNAUDITED(In thousands, except share amounts) FIRST FOUNDATIONINC.CONSOLIDATED STATEMENTS OF CASH FLOWS- UNAUDITED(In thousands) FIRST FOUNDATIONINC.NOTESTO THE CONSOLIDATED FINANCIAL STATEMENTSFor the Six Months Ended June 30, 2025- UNAUDITED NOTE1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation First Foundation Inc. (“FFI”) is a financial services holding company whose operations areconducted through its wholly owned subsidiaries:First Foundation Advisors (“FFA”) and FirstFoundation Bank (“FFB” or the “Bank”) and the wholly owned subsidiaries of FFB, First FoundationPublicFinance(“FFPF”),First Foundation Insurance Services(“FFIS”)and Blue MoonManagement,LLC(collectively the“Company”).FFIalso has two inactive wholly ownedsubsidiaries, First Foundation Consulting and First Foundation Advisors, LLC.FFI is incorporated inthe state of Delaware.The corporate headquarters for FFI is located in Irving, Texas.The Companyprovidesa comprehensive platform of financial services to individuals,businesses and otherorganizations and has offices in California, Nevada, Florida, Texas, and Hawaii. The consolidated financial statements have been prepared in conformity with accountingprinciples generally accepted in the United States of America (“GAAP”) and prevailing practiceswithin the banking industry. In preparing the consolidated financial statements, management isrequired to make estimates and assumptions that affect the reported amounts of assets and liabilitiesas of the date of the balance sheet and revenues and expenses for the period. Actual results coulddiffer significantly from those estimates. The accompanying unaudited consolidated financial statements include the accounts of theCompany as of June 30, 2025 and December 31, 2024, and for the six months ended June 30, 2025and2024,and include all information and footnotes required for interim financial reportingpresentation.All intercompany accounts and transactions have been eliminated in consolidation. Theresults for the 2025 interim periods a