First Foundation | 10-Q: FY2025 Q3 Revenue: USD 134.74 M

Revenue: As of FY2025 Q3, the actual value is USD 134.74 M.

EPS: As of FY2025 Q3, the actual value is USD -1.78, missing the estimate of USD 0.0125.

EBIT: As of FY2025 Q3, the actual value is USD -105.01 M.

Banking Segment

Interest Income

• Total interest income for the quarter ended September 30, 2025: $134.7 million
• Total interest income for the nine months ended September 30, 2025: $413.6 million

Interest Expense

• Total interest expense for the quarter ended September 30, 2025: $88.7 million
• Total interest expense for the nine months ended September 30, 2025: $265.6 million

Net Interest Income

• Net interest income for the quarter ended September 30, 2025: $46.1 million
• Net interest income for the nine months ended September 30, 2025: $148.0 million

Provision for Credit Losses

• Provision for credit losses for the quarter ended September 30, 2025: $65.0 million
• Provision for credit losses for the nine months ended September 30, 2025: $70.8 million

Noninterest Income

• Noninterest income for the quarter ended September 30, 2025: $10.8 million
• Noninterest income for the nine months ended September 30, 2025: $17.9 million

Noninterest Expense

• Noninterest expense for the quarter ended September 30, 2025: $50.2 million
• Noninterest expense for the nine months ended September 30, 2025: $157.1 million

Net Loss Before Income Taxes

• Net loss before income taxes for the quarter ended September 30, 2025: -$56.4 million
• Net loss before income taxes for the nine months ended September 30, 2025: -$56.8 million

Wealth Management Segment

Noninterest Income

• Noninterest income for the quarter ended September 30, 2025: $7.0 million
• Noninterest income for the nine months ended September 30, 2025: $21.7 million

Noninterest Expense

• Noninterest expense for the quarter ended September 30, 2025: $6.4 million
• Noninterest expense for the nine months ended September 30, 2025: $20.5 million

Net Income Before Income Taxes

• Net income before income taxes for the quarter ended September 30, 2025: $0.7 million
• Net income before income taxes for the nine months ended September 30, 2025: $1.1 million

Other Segment

Interest Expense

• Interest expense for the quarter ended September 30, 2025: $2.0 million
• Interest expense for the nine months ended September 30, 2025: $5.4 million

Noninterest Income

• Noninterest income for the quarter ended September 30, 2025: -$0.3 million
• Noninterest income for the nine months ended September 30, 2025: -$1.1 million

Noninterest Expense

• Noninterest expense for the quarter ended September 30, 2025: $0.9 million
• Noninterest expense for the nine months ended September 30, 2025: $1.5 million

Net Loss Before Income Taxes

• Net loss before income taxes for the quarter ended September 30, 2025: -$3.2 million
• Net loss before income taxes for the nine months ended September 30, 2025: -$7.9 million

Future Outlook and Strategy

Core Business Focus

• The company plans to continue its strategy of reducing exposure to low-coupon fixed rate loans and concentration in commercial real estate loans and high-cost deposits. This includes the sale of multifamily loans held for sale and paying down high-cost deposits.

Non-Core Business

• The company announced a merger with FirstSun Capital Bancorp, expected to close in the second quarter of 2026, subject to regulatory approvals and shareholder approval. The merger will result in First Foundation Inc. merging with and into FirstSun, with FirstSun continuing as the surviving entity. First Foundation Bank will merge with and into Sunflower Bank, National Association, with Sunflower Bank continuing as the surviving bank. The aggregate transaction value is estimated at $785 million.