First Foundation Bank is a regional financial institution headquartered in Dallas, Texas, with a significant presence in California, Florida, Nevada, and Hawaii. Established in 2007, the bank has evolved from catering primarily to high-net-worth individuals to offering a comprehensive suite of banking products for everyday consumers and businesses. With over $13 billion in assets, First Foundation Bank is FDIC-insured and provides a range of personal and business banking services, including checking and savings accounts, certificates of deposit (CDs), credit cards, mortgages, and wealth management.
Account Offerings
Checking Accounts
First Foundation Bank offers three main types of checking accounts:
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Personal Checking Account: This account requires a minimum opening deposit of $100 and offers zero monthly fees.
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Personal Interest Checking: This account offers an interest rate of 0.05% and charges a $20 monthly fee, which can be waived by maintaining a $2,500 minimum daily balance.
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Senior Interest Checking: Available to customers aged 55 and over, this account also offers an interest rate of 0.05% and has no monthly fees.
All checking accounts provide access to digital banking tools such as bill payment, Zelle, and mobile deposit. Additionally, customers can receive ATM fee reimbursements of up to $20 per transaction.
Savings Accounts
First Foundation Bank offers several savings account options:
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Personal Savings Account: This account requires a $100 minimum deposit and charges a $3 monthly fee, which can be avoided by maintaining a minimum daily balance of $250.
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Senior Savings Account: Similar to the Personal Savings Account but available to customers aged 55 and over.
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Online Savings Account: This account offers a competitive annual percentage yield (APY) of 4.90% and has no monthly fees. A minimum opening deposit of $1,000 is required, and the funds must come from an external account.
Money Market Accounts
The bank provides a money market account with an APY of 4.00%. A minimum opening deposit of $2,500 is required, and customers must maintain a daily balance of $2,500 to avoid a $20 monthly maintenance fee. This account includes check-writing privileges and a debit card upon request.
Certificates of Deposit (CDs)
First Foundation Bank offers two CD options:
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9-Month CD: Offers an APY of 5.00%
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12-Month CD: Offers an APY of 4.85%.
Both CDs require a minimum initial deposit of $2,500 and charge an early withdrawal penalty equal to 180 days of accrued interest. The initial deposit must be funded with “new money” from an external account. Upon maturity, there is a 10-day grace period during which customers can make penalty-free withdrawals or add additional funds. First Foundation Bank offers a comprehensive suite of business banking solutions, including:
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Depository Services: Business checking and savings accounts.
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Commercial Deposit Services: Treasury management and merchant services.
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Business Lending: Lines of credit, term loans, equipment financing, and SBA lending.
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Real Estate Lending: Owner-occupied real estate financing and commercial real estate lending
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Small Business Lending: Loans tailored for small businesses.
These services are designed to support the financial needs of businesses of all sizes.
Wealth Management
The bank’s wealth management division offers personalized investment strategies and financial planning services. Services include:
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Investment Management: Tailored investment portfolios to meet clients’ financial goals.
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Wealth Planning: Comprehensive planning for retirement, estate, and tax strategies.
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Trust Services: Assistance with trust administration and estate settlement.
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Philanthropy Services: Guidance on charitable giving and foundation support.
These services aim to enhance the wealth and well-being of clients through a comprehensive suite of integrated services.
Customer Service and Accessibility
First Foundation Bank provides customer support through various channels, including phone, email, and online chat. Customer service representatives are available during extended hours, including weekends, to assist with inquiries and account management.
The bank has a network of over 30 branches across Texas, Florida, California, Hawaii, and Nevada. However, customers outside these regions may find limited access to physical branches. Nonetheless, the bank’s robust online and mobile banking platforms offer convenient access to account management tools and services.
Reputation and Financial Stability
First Foundation Bank has received mixed reviews from customers. Positive feedback highlights the bank’s competitive interest rates and responsive customer service. For instance, a customer praised the Sherman Oaks branch for exceptional service and competitive online savings rates. However, some customers have expressed dissatisfaction with aspects such as overdraft policies and account management. One reviewer criticized the
