First Foundation Q4 Revenue Flat, CEO Emphasizes Merger Plans
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy FFWM?
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%..."
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Analyst Views on FFWM
Wall Street analysts forecast FFWM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FFWM is 6.75 USD with a low forecast of 6.00 USD and a high forecast of 7.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 6.420
Low
6.00
Averages
6.75
High
7.50
Current: 6.420
Low
6.00
Averages
6.75
High
7.50
About FFWM
First Foundation Inc. is a financial services company that provides a comprehensive platform of financial services to individuals, businesses, and other organizations. Its integrated platform provides banking products and services, investment advisory and wealth management services and trust services. It operates in two segments: Banking and Investment Management and Wealth Planning (Wealth Management). The Banking segment includes the operations of First Foundation Bank (FFB), First Foundation Insurance Services (FFIS), First Foundation Public Finance (FFPF), and Blue Moon Management LLC. The Wealth Management segment includes the operations of First Foundation Advisors (FFA). Through FFB, it offers a range of loan products, deposit products, treasury management products and services, and trust services. It provides business banking products and services to small to moderate-sized firms and professional firms, and consumer banking products and services to individuals and families.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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