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First Foundation Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
First Foundation Bank Savings
1.65% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 2007, First Foundation Bank has $10.5 billion in assets as well as $9 billion in deposits, making the institution a large bank. First Foundation Bank, whose headquarters are in Irvine, California, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a superb 4.5 out of 5 stars, First Foundation Bank proves it is a top-tier bank that warrants a serious look. First Foundation Bank offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, First Foundation Bank's most basic checking account does not carry a monthly charge. Institutions that offer free checking, in addition to a high interest rate savings account are the best bet for getting the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

4.0
SmartAsset Average: 3.5

First Foundation Bank has a savings rate of 1.65%, which is fair in comparison to the national average. First Foundation Bank's CDs feature a rate of 0.65% and 0.90% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.25%. Given its noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How First Foundation Bank's Savings Rates Compare

First Foundation Bank Savings 1.65 National Average 0.09 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

First Foundation Bank charges customers extremely low fees in comparison to the average U.S. bank. First Foundation Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. First Foundation Bank reimburses their out-of-network ATM fees, which gives easy access to cash at any time.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

First Foundation Bank has both an online and physical presence, with 31 total bank locations in California, Texas, Florida, Hawaii and Nevada. With mobile and web apps, First Foundation Bank makes mobile banking easy, even on the go. First Foundation Bank receives relatively satisfactory feedback from users for its mobile banking services. With 130 ratings on both iOS and Android platforms, the First Foundation Bank mobile app has an overall rating of 4.3 out of 5 (compared to the national average of 3.8). First Foundation Bank's mobile app allows you to manage your accounts by monitoring monthly statements, transferring money as well as reaching support representatives. First Foundation Bank receives a superb consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal Yes
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

First Foundation Bank is currently a large bank and handles assets totaling $10.5 billion and $9 billion in deposits. First Foundation Bank's Texas Ratio is 3.67%, signifying a minute chance of failure. Additionally, First Foundation Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.67%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare First Foundation Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 1.65% APY $1000
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.70% APY
  • 36 Month: 0.70% APY
  • 48 Month: 0.80% APY
  • 60 Month: 0.90% APY
$2500 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

First Foundation Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Foundation Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Foundation Bank's CD rates are fair compared to the average U.S. bank.

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Find a First Foundation Bank Near Me

First Foundation Bank has 31 branches in the U.S.

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