First Foundation Bank was founded in 2007 with headquarters in Irvine, California. First Foundation Bank owns assets of $5 billion along with $3 billion in deposits, ranking it as a large bank. First Foundation Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. SmartAsset experts rated the bank 4.1 stars out of 5, suggesting First Foundation Bank is a good bank that warrants your consideration. First Foundation Bank has the complete slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly charge. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for gaining the most income from your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 2.40%, First Foundation Bank ranks excellent compared to the national average. First Foundation Bank's one-year and five-year term lengths CDs earn at a rate of 1.10% and 0.90%, respectively, while its highest-yielding money market account has an APY of 0.25%. With an excellent APY, First Foundation Bank's savings account can be used to save towards an important life event such as retirement.
How First Foundation Bank's Savings Rates Compare
First Foundation Bank typically has extremely low fees compared to the average U.S. bank. With no monthly fee, First Foundation Bank is ideal for people who want a basic banking experience. First Foundation Bank reimburses their out-of-network ATM fees, which gives convenient access to cash at any time.
First Foundation Bank has both an online and physical presence, with 21 total bank locations in California, Hawaii and Nevada. With mobile and web apps, First Foundation Bank makes account access straightforward, even on the go. First Foundation Bank's mobile app lets you manage your bank accounts by checking current statements, sending and receiving money and accessing customer service. First Foundation Bank receives an exceptional consumer satisfaction score due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
First Foundation Bank is a large bank with assets totaling $5 billion as well as $3 billion in deposits. First Foundation Bank's Texas Ratio is 3.67%, denoting a negligible probability 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
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.Back to Overview
Compare First Foundation Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||2.4% APY||$250|
|Checking Account||0.15% APY||$1000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.25% APY 0.25% APY||$10000 $15000|
First Foundation Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with 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 in comparison to the national average.Back to Overview
Find a First Foundation Bank Near Me
First Foundation Bank has 21 branches across the U.S.Back to Overview