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Introduction
First Foundation Bank is a growing regional bank that has carved a niche for itself by blending traditional banking services with modern, customer-focused financial solutions. Headquartered in Dallas, Texas, the institution also maintains a strong presence in states like California, Nevada, Hawaii, and Florida. Since its inception in 2007, the bank has expanded steadily and now manages over $13 billion in total assets.
Though it originally catered primarily to wealth management and high-net-worth individuals, the bank has broadened its reach to serve a wider clientele—including everyday consumers and small businesses. Whether you’re looking for simple checking and savings accounts or more complex financial services like investment management or commercial loans, First Foundation Bank has a fairly comprehensive lineup.
This review dives into the key offerings, pros and cons, digital experience, customer service, and more to help you decide whether First Foundation Bank is a good fit for your financial needs.
Banking Products and Services
Checking Accounts
First Foundation Bank provides several types of checking accounts to accommodate a variety of customer needs:
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Standard Personal Checking
This basic account requires a minimum deposit of $100 to open. It doesn’t charge a monthly fee, making it a budget-friendly choice for everyday banking. -
Interest-Bearing Checking
If you want your funds to earn interest, this account pays a modest annual yield of 0.05%. However, it comes with a $20 monthly maintenance fee unless you maintain a daily balance of at least $2,500. -
Senior Interest Checking
Designed for individuals aged 55 and up, this account mirrors the interest rate of the regular interest checking option but eliminates the monthly fee entirely, offering a solid deal for retirees or seniors on a fixed income.
All checking account holders benefit from free access to online and mobile banking, mobile check deposit, Zelle for peer-to-peer payments, and access to nationwide ATMs—with up to $20 per transaction reimbursed in ATM fees.
Savings Accounts
First Foundation offers a mix of traditional and high-yield savings accounts to meet various financial goals:
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Personal Savings
A starter savings account that requires a $100 deposit to open. It charges a $3 monthly fee unless you keep a minimum daily balance of $250. -
Senior Savings
Tailored for customers aged 55 or older, this account follows the same structure as the Personal Savings account but is often bundled with added benefits or fee waivers. -
Online Savings Account
The standout offering in this category, the Online Savings Account provides a very competitive APY—currently at 4.90%—without monthly maintenance fees. It's optimized for digital users, with easy mobile access and straightforward account management tools.
Certificates of Deposit (CDs)
CDs at First Foundation Bank are designed for savers looking for stable, fixed returns over a set period. Terms typically range from six months to five years, and rates vary depending on the term length and market conditions. Compared to national averages, First Foundation’s CD rates are competitive, particularly for longer-term deposits. There are early withdrawal penalties, as is standard with most CDs.
Loans and Credit
The bank also offers several loan options, including:
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Home Mortgages: Fixed and adjustable-rate options are available for homebuyers and refinancers.
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Home Equity Lines of Credit (HELOCs): These loans provide access to cash using the equity in your home.
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Personal Loans: Unsecured personal loans are available for major purchases, debt consolidation, or emergency expenses.
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Business Loans: Tailored financing for small and mid-sized businesses, including SBA loans and lines of credit.
Loan approval is based on creditworthiness, income, and collateral, with competitive interest rates and flexible repayment terms.
Digital Banking Experience
First Foundation Bank has invested in modernizing its digital tools to keep up with customer expectations. Through its mobile app and online banking platform, customers can:
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Check account balances
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Pay bills
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Transfer money between accounts
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Deposit checks via mobile
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Send money through Zelle
The mobile app is available for both iOS and Android devices and receives generally positive reviews for its reliability and ease of use.
One particularly appreciated feature is real-time alerts, which allow users to receive notifications for account activity, low balances, or large transactions. These tools offer an extra layer of security and convenience.
Customer Service and Support
Customer support is available via phone, secure messaging through the app, and at physical branches in select states. The bank also offers a helpful FAQ and knowledge center on its website, which covers many common questions related to account management, fraud prevention, and technical support.
While customer service reviews are mixed—like many financial institutions—First Foundation Bank generally receives favorable feedback for its in-branch service and personalized support for wealth management clients.
Additional Services
Wealth Management
One of First Foundation’s original and strongest service lines is its wealth management division. Services include:
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Investment management
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Financial planning
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Estate and trust services
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Retirement planning
These services are especially attractive to high-net-worth individuals or those planning for long-term financial goals. Clients are matched with financial advisors who tailor portfolios based on risk tolerance, time horizon, and personal objectives.
Business Banking
For business clients, the bank offers:
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Business checking and savings accounts
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Treasury management
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Merchant services
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Commercial lending
These services are best suited to small and medium-sized enterprises that want both flexibility and a personal relationship with their banking institution.
Pros and Cons
Pros
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High-Yield Online Savings: The 4.90% APY on the Online Savings Account is one of the most competitive rates available nationally.
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Low-Fee Checking Options: The standard personal checking account has no monthly fee, making it accessible for most consumers.
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ATM Fee Reimbursements: Customers can receive up to $20 in ATM fee reimbursements per transaction.
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Strong Wealth Management: Comprehensive investment and advisory services for those with significant assets.
Cons
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Limited Branch Access: Physical branches are only located in select states, which may be inconvenient for those outside its core geographic markets.
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Low Interest on Standard Accounts: Checking and traditional savings accounts offer minimal interest compared to high-yield options.
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Monthly Fees on Some Accounts: While avoidable, some accounts come with maintenance fees that can eat into earnings if minimum balances aren’t maintained.
Who Should Bank With First Foundation?
First Foundation Bank is a solid choice for several types of customers:
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Digital Savers: Those looking to earn a high return on savings without the hassle of fees.
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Retirees: Seniors benefit from fee-free options and modest interest rates on both checking and savings accounts.
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Affluent Clients: Individuals looking for personalized financial planning, investment management, and estate services.
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Small Business Owners: Entrepreneurs in states with physical branches may find the commercial banking services especially convenient and robust.
However, if you live outside the bank’s core service areas or need access to in-person banking more frequently, a larger national bank or fully online alternative might be better suited to your needs.
Final Thoughts
First Foundation Bank combines the strengths of a traditional bank with the modern convenience of digital-first services. Its standout Online Savings Account, combined with reliable checking options and comprehensive financial planning services, makes it a compelling option for many consumers.
While it may not have the national reach of larger institutions, its customer-centric approach, low fees, and competitive interest rates make it a strong contender for anyone looking for a blend of personal service and modern banking.
If you're comfortable managing your finances digitally and value solid returns on savings, First Foundation Bank is worth serious consideration.
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