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FIRST FOUNDATION FIRST FOUNDATION INC . REPORTS SECOND QUARTER 2021 RESULTS • Second quarter net income of $ 26.1 million and earnings per share of $ 0.58 . • Total revenues of $ 71.9 million in second quarter 2021 . 2Q21 Key Financial Data Profitability Metrics 2Q21 1Q21 2Q20 Return on average assets ( % ) 1.40 1.25 1.06 Return on average common equity ( % ) 14.4 12.7 11.3 Return on tangible common equity ( % ) ( a ) 16.7 14.9 13.6 Net interest margin ( % ) 3.20 3.16 2.96 Efficiency ratio ( % ) ( a ) 47.3 51.5 53.0 Income Statement ( b ) 2Q21 1Q21 2Q20 Net interest income $ 57,910 $ 54,229 $ 48,447 Noninterest income $ 14,035 $ 11,908 $ 8,969 Net income attributable to common $ 26,054 $ 22,355 $ 17,854 Diluted earnings per common share $ 0.58 $ 0.50 Dividends declared per common share $ 0.09 $ 0.09 $ 0.40 $ 0.07 Balance Sheet ( b ) Average total loans Average total deposits Net charge - off ratio Tangible book value per share ( a ) Tier 1 Leverage Ratio 2Q21 1Q21 2Q20 $ 5,780,494 $ 5,383,745 $ 5,475,796 $ 6,683,371 $ 6,104,727 $ 5,234,330 0.01 % $ 14.27 8.32 % 8.22 % ( a ) See Non - GAAP Financial Measures ( b ) Dollars in thousands , except per share data First Foundation Inc. ( NASDAQ : FFWM ) July 27 , 2021 Exhibit 99.1 ( 0.01 ) % 0.03 % $ 13.84 $ 12.16 8.58 % • Return on average assets of 1.40 % . Return on average tangible equity of 16.7 % . Tangible book value per share increased to $ 14.27 . Net interest margin of 3.20 % ; 20 % growth in net interest income year - over - year . • Deposit costs of 0.20 % ; 0.18 % in June . Third straight record quarter of loan originations , topping $ 1.0 billion for the first time . • Efficiency ratio of 47 % . DALLAS , TX - First Foundation Inc. ( NASDAQ : FFWM ) , a financial services company with two wholly - owned operating subsidiaries , First Foundation Advisors ( " FFA " ) and First Foundation Bank ( " FFB " ) , reported net income of $ 26.1 million , including $ 1.2 million of merger related expenses , or $ 0.58 per diluted share , for the second quarter of 2021 , compared to net income of $ 22.4 million , or $ 0.50 per diluted share , for the first quarter of 2021. Additionally , First Foundation Inc. announced today that its Board of Directors has approved the payment of a quarterly cash dividend of $ 0.09 per common share , payable on August 20 , 2021 to common shareholders of record as of August 9 , 2021 . Scott F. Kavanaugh CEO David DePillo President " This quarter once again showed the strength of our offering , " said Scott F. Kavanaugh , CEO of First Foundation Inc. " We delivered solid performance across our business as we generated $ 72 million in revenue while continuing to invest in our people , technology , and expansion into new markets . The continued focus on creating a diversified balance sheet has proven successful as loan originations totaled a record $ 1.1 billion for the quarter , with our C & I division contributing a solid $ 336 million of new loans . Business and commercial loans accounted for 30 % of originations during the quarter . We also saw an increase in core deposits , which represent 98 % of our total deposits . Assets under management hit a peak level of $ 5.3 billion , while trust assets under advisement ended the quarter at $ 1.2 billion . With our diversified business model and our geographic footprint , which includes a growing presence in Texas and future expansion into Florida , we feel we are well - positioned for growth in very attractive markets . " " As we continue to expand our commercial and business banking offering , we are experiencing record levels of originations and deposit gathering , " said David DePillo , President of First Foundation Inc. " We funded our largest ever amount of loans in one quarter , while we continued to maintain strong asset quality as evidenced by the decrease of our nonperforming assets from 24 to 20 basis points . We also grew deposits by $ 861 million during the quarter as deposit costs fell to 18 basis points at the end of June . Our digital and technology investments across the Company are going well as they continue to enhance the client experience , strengthen the security of our network , and help us drive operational efficiencies . ” Investor contact : Kevin Thompson , kthompson@ff-inc.com | 949-202-4164 Media contact : Tyler Resh , tresh@ff-inc.com | 949-202-4131