Revenue: As of FY2025, the actual value is USD 588.36 M.

EPS: As of FY2025, the actual value is USD -1.88, missing the estimate of USD -1.76.

EBIT: As of FY2025, the actual value is USD -258.95 M.

Overall Company Performance

• Net Loss: First Foundation Inc. reported a net loss of - $155.2 million for the year ended December 31, 2025, compared to a net loss of - $92.4 million for 2024.
• Net Loss Before Taxes: The combined net loss before taxes was - $71.5 million for 2025, compared to - $137.4 million for 2024.
• Net Interest Income: Totaled $187.4 million for 2025, compared to $182.6 million for 2024.
• Net Interest Margin (NIM): Was 1.58% for 2025, up from 1.40% for 2024.
• Noninterest Income: Was $47.4 million for 2025, compared to - $65.9 million for 2024. Excluding a - $117.5 million LOCOM adjustment in 2024, noninterest income was $51.6 million for 2024.
• Noninterest Expense: Totaled $242.0 million for 2025, compared to $233.5 million for 2024.
• Income Tax Expense (Benefit): Was $83.6 million for 2025, compared to an income tax benefit of - $45.0 million for 2024, primarily due to a $98.7 million valuation allowance against deferred tax assets in 2025.

Banking Segment

• Net Interest Income: $194.8 million in 2025, compared to $189.5 million in 2024, and $209.4 million in 2023.
• Provision for Credit Losses: $64.3 million in 2025, compared to $20.7 million in 2024, and a reversal of - $482 thousand in 2023.
• Noninterest Income: $20.4 million in 2025, compared to $22.5 million in 2024 (excluding LOCOM adjustment), and $21.5 million in 2023.
• Noninterest Expense (Operating): $206.6 million in 2025, compared to $205.0 million in 2024, and $210.5 million in 2023 (excluding goodwill impairment).
  • Compensation and Benefits: Increased to $76.5 million in 2025 from $65.0 million in 2024.
  • Customer Service Costs: Decreased to $44.1 million in 2025 from $63.6 million in 2024.
  • Professional Services and Marketing: Increased to $22.3 million in 2025 from $12.6 million in 2024, including $6.1 million of one-time merger-related expenses.
• Net (Loss) Income: - $132.9 million in 2025, compared to - $87.4 million in 2024, and - $194.9 million in 2023.
• Total Assets: $11.9 billion at December 31, 2025, compared to $12.6 billion at December 31, 2024.
• Total Loans (Held for Investment): Decreased by - $1.2 billion in 2025, totaling $6.7 billion at December 31, 2025, compared to $7.9 billion at December 31, 2024.
  • Multifamily Loans: $3.2 billion at December 31, 2025, representing 48.2% of total loans.
  • Commercial and Industrial Loans: $2.0 billion at December 31, 2025, representing 29.9% of total loans.
• Allowance for Credit Losses (ACL) for Loans: Totaled $93.9 million (1.39% of total loans held for investment) at December 31, 2025, significantly up from $32.3 million (0.41%) at December 31, 2024.
  • Net charge-offs were - $1.1 million (0.01% of average loans) in 2025, compared to - $17.9 million (0.18% of average loans) in 2024.
• Deposits: Decreased by - $585.7 million to $9.3 billion at December 31, 2025, compared to $9.9 billion at December 31, 2024.
  • Noninterest-bearing demand deposits were $1.2 billion (13.3% of total deposits) at December 31, 2025, compared to $2.0 billion (19.8%) at December 31, 2024.
  • Weighted average rate on total deposits was 3.04% at December 31, 2025, compared to 3.09% at December 31, 2024.
• Loan-to-Deposit Ratio: Was 75.3% at December 31, 2025, compared to 93.5% at December 31, 2024.
• Unused Borrowing Capacity: $3.5 billion at December 31, 2025, including $1.4 billion with FHLB and $1.8 billion with the Federal Reserve Bank.

Wealth Management Segment

• Noninterest Income: $28.4 million in 2025, compared to $30.6 million in 2024, and $29.4 million in 2023.
• Noninterest Expense: $27.5 million in 2025, compared to $23.0 million in 2024, and $22.1 million in 2023.
  • Compensation and Benefits: Increased to $20.9 million in 2025 from $16.6 million in 2024.
• Net Income: $590 thousand in 2025, compared to $5.4 million in 2024, and $5.2 million in 2023.
• Assets Under Management (AUM): $5.1 billion at December 31, 2025, a decrease of - $376 million from $5.4 billion at December 31, 2024.
  • The decrease was due to terminations and net existing account withdrawals of - $1.1 billion, partially offset by portfolio gains of $483 million and new accounts of $219 million.

Outlook / Guidance

First Foundation Inc. and FirstSun Capital Bancorp entered into a Merger Agreement on October 27, 2025, with the transaction expected to close on April 1, 2026, subject to closing conditions. The company anticipates that the balance sheet repositioning and derivative transactions related to the merger will impact earnings, and the ability to utilize net operating loss carryforwards may be limited after the merger. There is no assurance that the merger will be completed, or that anticipated benefits and cost savings will be fully realized.