#1FIRST FOUNDATION INVESTOR PRESENTATION FIRST FOUNDATION October 2023 BANKING PRIVATE WEALTH MANAGEMENT TRUST SERVICES#2Safe Harbor Statement This report includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets. Forward-looking statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "outlook," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." The forward-looking statements in this report are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this report and could cause us to make changes to our future plans. Those risks and uncertainties include, but are not limited to, the risk of incurring credit losses, which is an inherent risk of the banking business; the quality and quantity of our deposits; adverse developments in the financial services industry generally such as the recent bank failures and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of liquidity; the negative impacts and disruptions resulting from the COVID-19 pandemic on our colleagues, clients, the communities we serve and the domestic and global economy, which may have an adverse effect on our business, financial position and results of operations; the risk that we will not be able to continue our internal growth rate; the performance of loans currently on deferral following the expiration of the respective deferral periods; the risk that we will not be able to access the securitization market on favorable terms or at all; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; risks associated with changes in interest rates, which could adversely affect our interest income, interest rate margins, and the value of our interest-earning assets, and therefore our future operating results; the risk that the performance of our investment management business or of the equity and bond markets could lead clients to move their funds from or close their investment accounts with us, which would reduce our assets under management and adversely affect our operating results; negative impacts of news or analyst reports about us or the financial services industry; risks associated with proxy contests and other actions of activist stockholders, which may cause us to incur significant expense, cause disruption to our business and impact our stock price; the risk that we may be unable or that our board of directors may determine that it is inadvisable to pay future dividends at historic levels or at all; risks associated with changes in income tax laws and regulations; and risks associated with seeking new client relationships and maintaining existing client relationships. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as amended, and other documents we file with the SEC from time to time. We urge readers of this report to review those reports and other documents we file with the SEC from time to time. Also, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this report, which speak only as of today's date, or to make predictions based solely on historical financial performance. We also disclaim any obligation to update forward-looking statements contained in this report or in the above-referenced reports, whether as a result of new information, future events or otherwise, except as may be required by law or NYSE rules. Non-GAAP Financial Measures This presentation contains both financial measures based on GAAP and non-GAAP based financial measures, which are used when management believes them to be helpful in understanding the Company's results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the appendix of this presentation as of and for the quarter ended September 30, 2023. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 1#3A Multi-Diversified Regional Financial Services Company with a Personal Touch COMPANY CORE BUSINESSES TARGET CLIENTS $13.1 Billion in Bank Assets PERSONAL BANKING PRIVATE BANKING BUSINESS BANKING $5.0 Billion in Assets Under Management FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved FIRST FOUNDATION BANK BUSINESS OWNERS REAL ESTATE INVESTORS SMALL AND MEDIUM BUSINESSES HOAS, MSRs, 1031 EXCHANGES, TITLE AND ESCROW COMPANIES LOCAL MUNICIPALITIES NYSE: FFWM Five States: CA, TX, NV, HI, and FL 576 Employees, 31 Branch/Office Locations FIRST FOUNDATION ADVISORS Data as of September 30, 2023 PRIVATE WEALTH Complementary services $1.2 Billion in Trust Assets Under Advisement MANAGEMENT HIGH NET WORTH INDIVIDUALS MULTI-GENERATIONAL FAMILIES CORPORATE EXECUTIVES NONPROFITS Scale with a proven business model TRUST SERVICES Focus on providing exceptional service 2#4Deposits As of 3Q23, insured and collateralized deposits represent approximately 87% of total deposits, including accounts eligible for pass-through insurance. This figure has remained consistently above the 85% of total deposits reported as of 1Q23. ■ $9,494, 88% $10,807 Total Deposits $1,313, 12% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Insured and Collateralized vs. Uninsured Deposit Mix ($ in thousands) 2Q23 Insured and Collateralized Deposits Uninsured and Uncollateralized Deposits $9,454, 87% $10,812 Total Deposits $1,358, 13% 3Q23 ■ Insured and Collateralized Deposits Uninsured and Uncollateralized Deposits 3#5Deposits ■ 120% 100% 80% 60% 40% 20% 0% Loan to deposit ratio of 95% as of 3Q23. Deposit levels hit low point during 1Q23 and have risen $760 million since. 95% Loan/ Deposit Ratio 93% 81% Loan/ Deposit Ratio 78% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 104% YE 2018 YE 2019 YE 2020 YE 2021 YE 2022 3Q23 95% Average Average 94% 12,000 10,000 8,000 6,000 4,000 2,000 0 10,363 1,879 1,020 2,158 2,569 2,737 Dec 22 10,602 2,016 1,050 2,202 2,668 2,666 Jan'23 Deposit by Type ($ in thousands) 11,047 2,271 1,074 2,238 2,743 2,721 Feb'23 Non-interest Bearing Money Market CDs 10,052 2,306 1,049 1,949 2,364 2,263 Mar 23 10,807 2,769 1,150 1,947 2,281 2,660 Jun'23 Interest Bearing Savings 10,812 2,973 1,250 1,901 2,275 2,413 Sep¹23 4#6Strong Liquidity Position ■ ■ ■ Due to the proactive steps taken before March 2023, First Foundation continues to be in a strong liquidity position Available cash and cash equivalents held on balance sheet: $819 million. Fully collateralized credit from the Federal Home Loan Bank: $2 billion. Federal Reserve discount window availability: $881 million. Available uncommitted credit lines: $145 million. Market value of unpledged securities of $405 million as of 3Q23. FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $4.3 billion on- and off-balance sheet liquidity 5#7Strong Regional Presence Headquartered in Dallas, TX, First Foundation has 31 branch/office locations in five states: CA, TX, NV, HI, and ■ ■ ■ FL First Foundation's loan portfolio is primarily concentrated within the branch footprint; 72% of total loans in CA, 9% in FL, 4% in TX, 1% in NV, and 14% in other Expansion focused on attractive markets with positive demographic trends and business friendly environments Presence in Some of the Fastest Growing MSAs in the Country SAN FRANCISCO OAKLAND BURLINGAME SAN JOSE SHERMAN OAKS O PASADENA ROSEVILLE SACRAMENTO AUBURN 200 WESTWOOD OTORRANCE OPALOS VERDES ESTATES ROLLING HILS ESTATES LOS ANGELES SEAL BEACH CALIFORNIA HONOLULU NEVADA HAWAI'I 9900 LAS VEGAS 。 IRVINE LAGUNA HILLS SAN DIEGO LUCERNE VALLEY BIG BEAR LAKE RUNNING SPRINGS INDIAN WELLS EL CENTRO FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved DALLAS - HQ IRVING TEXAS PLANO 1) 2) 3) BONITA SPRINGS NAPLES O ICROSSPOINTE DR NAPLES (ANCHOR RODE ORI IMMOKALEE AVE MARIA NAPLES KRAFT NAPLES PINE RIDGE RDJ NAPLES FIFTH AVE MARCO ISLAND O FLORIDA TAMPA Located in Expanding and Affluent Markets Average household income of $84k versus overall U.S. average of $64k(1) ■ Outsized population growth in markets with large market share(1) (2) ■ ■ ■ Exceptional historical and projected population growth in newly-entered markets (1) Dallas-Fort Worth-Arlington, TX (Historical): 6.9% (2) Dallas-Fort Worth-Arlington, TX (Projected): 5.0% (3) Naples-Marco Island, FL (Historical): 4.7% (2) Naples-Marco Island, FL (Projected): 6.8% (3) ■ ■ ■ ■ Riverside-San Bernardino-Ontario, CA: 2.5% Sacramento-Roseville-Folsom, CA: 5.0% Las Vegas-Henderson-Paradise, NV: 5.3% Source: S&P Capital IQ; Claritas LLC; FDIC branch reports from S&P Capital IQ; Company Reports As of June 2023. 5 year historical. 5 year projected based on Company management estimates.#8Our Approach Within Attractive Markets Three-pronged approach to market entry and presence. 1. Grow presence in business friendly and expanding markets Dallas-Fort Worth Metroplex, TX Naples-Marco Island, FL 2. Maintain a strong presence in mature and affluent markets West Los Angeles and Pasadena, CA Palos Verdes and the South Bay, CA Orange County, CA San Diego, CA Indian Wells and Palm Springs, CA San Francisco, CA 3. ■ ■ ■ Sacramento, CA Las Vegas, NV Honolulu, HI Obtain market share in secondary and stable markets(1) Lucerne Valley: 100% Running Springs: 100% Big Bear Lake: 30.9% El Centro: 6.1% Auburn: 3.5% I ■ ■ I I FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Source: S&P Capital IQ; Company Reports 1) As of latest FDIC branch report dated September 2023. Significant new opportunities for entire suite of services Provide excellent customer service and deepen relationships Focus on deposits as the bank of choice in local region 7#9Serving Clients Across Generations Educate + Protect Personal and Business Banking Checking and Savings Accounts Money Market Accounts Certificate of Deposits (CDs) ■ . " BUILD "Millennials" ■ Digital Account Opening and Support Mobile Banking Full Suite of Treasury Management Offerings $48 Trillion Greatest Generation Silent (87<) Generation Baby Boomers (70-87) (51-69) > FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved ■ Solutions for every stage in the financial journey · Focused Consumer, Real Estate, and Commercial Lending SBA & Small Business Small Balance Business · Plan Build Well-Positioned to Facilitate The Great Wealth Transfer Equipment Finance Owner Occupied Real Estate Multifamily Investor Owned Real Estate Generation X & Millennials (<51) 57% of total assets are estimated to be transferred to Generation X households. GROW "Gen X" Primary Single Family Rental Single Family Home Equity Lines of Credit Personal Lines of Credit 45 million U.S. households will pass a mind-boggling $68 trillion ($48 trillion from Boomers alone) to their children the biggest generational wealth transfer ever.* *According to report by Cerulli Associates Consume + Distribute Private Wealth Management Wealth Planning & Advisory Investment Management Business Succession . ■ ■ ■ ENJOY "Boomers" ■ Philanthropy Services Corporate Trustee Nevada Asset Protection Trust Successor Trustee Solutions to serve both the boomer and the next generations Expertise on multi-generational gifting strategies and setting up the next generations for financial success 8#10Technology Driving Efficiencies and Enhancing Client Experience Nationally recognized for our investments to drive innovation Traditional Banking Services With the Same Features as a Fintech $ 8 8 .... Existing Strong Foundation Recent Enhancements Made / Planned FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved ● CELENT MODEL BANK ✓Latest Fiserv Core Banking system: Precision ✓ Data warehouse / CRM - marketing and client data mining ✓ Deep integrations with loan origination systems and core ✓ Al automating workflows to drive efficiency ✓ Technology-enhanced compliance tracking ✓ Digital banking processes with open APIs ✓ Dedicated to the strictest security measures . Core Technology Tech Driving Process Efficiencies fiserv. accutech SYSTEMS Key Partners MX Upgraded to Orion, state-of-the-art enterprise investment software platform for wealth management clients Deep integration between trust accounting and portfolio management systems New single-family loan origination system New commercial loan origination system upgrades ✓ Peer-to-peer payments through Zelle® ✓ Digital signature capture for lending and deposit products ✓ Automated online deposit account opening and delivery ✓ Industry-leading commercial business banking online Automated account switching solution to move new customer direct deposits and bill pay to bank ✓ ● . Client Experience Tech Enhancing the Client Experience №. 301 ORION ADVISOR TECH Account aggregation across institutions New mobile and desktop consumer banking applications New client portal for wealth management clients Rewards deposit accounts Financial wellness scoring#11Brand Awareness Using Digital Channels Sample Search Phrases (note: rankings fluctuate daily) "Multifamily lending" "What is wealth planning" "Apartment lending" "Wealth planning" "Life and wealth planning" "What is wealth planner" "What is personal banking" "Income property lending" "Owner occ. real estate financing" 1. AWARE- NESS Building awareness without paid advertising by ranking highly for relevant search phrases on Google Focused on 50-60 key terms related to our business. Ranked consistently in Top 25 nationally for high-value search phrases 2. ENGAGE- MENT Search Engine Optimization ■ Presence on major social networks Engaged community of followers Affinity towards brand and culture Social Media 3. Content DELIVERY Marketing . Valuable content sourced by in-house and third-party writers Provides education; Fosters interest Boosts SEO; Generates leads FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved "Online savings account" "Online savings account rates" "Online savings" Google Key Content Topics Investment Commentary Market Alerts The Week Ahead Wealth Planning Cyber Security 1) National Rank ¹ 1 1 2 5 6 12 16 28 33 60 67 70 Frequency w Online Savings Account | First Foundation Bank https://firstfoundationinc.com > personal-banking bank > online-savings - Your soon-to-be favorite savings account.... An Overview of First Foundation. Our Online Savings account offers one of the highest available interest rates in the market. Mi Savings Accounts - Discover Your Options - HSBC Bank USA https://www.us.hsbc.com › savings-accounts Compare and apply online for HSBC Savings Accounts that offer higher rates the more you sav competitive rates or a traditional savings account that helps to ... ↓ Q High Yield Online Savings Account | Marcus by Goldman... https://www.marcus.com> savings > high-yield-savings Marcus by Goldman Sachs offers an online savings account with a rate that beats the Nation Savings Average. Learn more and open an online savings... Digital brand awareness significantly reduces the cost of new client acquisition 4 / year 2-4 / year 50/year 4-6 / year 4 / year SEMRush, as of October 13, 2023; based on all internet traffic; does not include paid search; however, does include all website traffic, not just those of banks and financial services companies. dr. The THE WEEK AH 4342 276 Meck deve-Dedolthetradics in f Security Tips for Online Holiday Shoppers First Foundation @FirstFoundinc Dec 23, 2018 h celebration of the winter holiday, we will be closing our branch offices at 2pm on December 24 and will reopen on Thursday December 26. Feel free to visit our website at firstloundationinc.com 10#12Loans FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 11#13Loan Portfolio Overview Loan Portfolio by Asset Class 3Q23 ($ in millions) Multifamily, $5,240, 51% Consumer, $4, 0% $10,283 Total Loans Other $17,0% CRE Investment, $611, 6% Single-Family, $960, 9% Land and Construction, $141, 2% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Commercial Business (1) $3,310, 32% 1) 2) California $7,373 72% Loan Portfolio by State 3Q23 ($ in millions) $10,283 Total Loans 3Q23 Yield on Originations: 8.35% 3Q23 Yield on Loans: 4.73% Commercial Business asset class includes C&l and Commercial Owner Occupied CRE Loans. Other includes premiums, discounts and deferred fees and expenses on all loans. Florida $934 9% Texas, $404,4% Other $1,425 14% Hawaii, $40, 0% Nevada, $108, 1% Diversification by asset class and geography/state 12#14Loan Portfolio by Geographic Distribution Texas originations totaled $44 million during 3Q23 with $41 million in the commercial business. ■ ■ Florida originations totaled $51 million during 3Q23 with $47 million in the commercial business. Multifamily Loans 3Q23 ($ in millions) California, $4,586, 87% $5,240 Total Loans Florida, $97, 2% Other, $294, 6% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Texas, $226, 4% Hawaii, $2,0% Nevada, $35, 1% NOO CRE Loans 3Q23 ($ in millions) Florida, $353, 58% $611 Total Loans California, $223, 36% Commercial Business Loans 3Q23 ($ in millions) Other, $9, 1% Texas, $22, 4% Hawaii, $1,0% Nevada, $3, 1% Florida, $193, 9% $3,310 Total Loans California, $1,726, 52% Other, $1,077, 33% Single-Family Loans 3Q23 ($ in millions) California, $785, 82% $960 Total Loans Texas, $144, 4% Hawaii, $10, 0% Nevada, $60, 2% Florida, $108, 11% Other, $28, 3% Texas, $2,0% Hawaii, $28, 3% Nevada, $10, 1% 13#15Net Loan Activity $10,585 Beginning Balance 2Q23 $10,726 Beginning Balance 4Q22 $245 Total Originations $1,199 Total Originations FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved ($180) Line Paydowns/ Scheduled Payments ($684) 3Q23 Loan Roll Forward Line Paydowns/ Scheduled Payments ($366) Prepayments 3Q23 YTD Loan Roll Forward ($955) ($0) Prepayments Net Charge Offs ($3) Net Charge Offs $0 Loan Sales $0 Loan Sales $0 Loans Acquired $0 Loans Acquired $10,283 Ending Balance 3Q23 $10,283 Ending Balance 3Q23 14#16Lending Activities Limited but Focused on High Quality Commercial Business $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Loan Origination Composition Trend ($ in millions) 2018 (1) 2019 2020 ■ Commercial Business CRE Investment (2) 2021 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 2022 3Q22 3Q23 YTD YTD ■ Multifamily Single-Family 100% 1) 2) 90% Includes $171 million in PPP loans. Includes $56 million in PPP loans. 80% 70% 60% 50% 40% 30% 20% 10% 0% Commercial business originations in 3Q23 YTD of $1.2 billion and $2.9 billion in 2022. Origination Composition 2% 5% 3% 42% 3Q22 YTD Commercial Business ■ Other 48% CRE Investment 3% Multifamily ■ Single-Family 2% 3% 91% 3Q23 YTD 15#17Diversified Commercial Business Portfolio Commercial Portfolio by Industry Sectors 3Q23 Retail Trade 2% Arts, Entertainment, and Recreation 2% Other Services (except Public Administration) 2% Administrative and Support and Waste Management and Remediation Services 3% Accommodation and Food Professional, Scientific, and Technical Services Services 3% Construction 5% Manufacturing 5% 2% Real Estate and Rental and Leasing 7% (1) Other 9% $3,310 Total Loans FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Public Administration 31% No sector comprises more than a 1/3 of the portfolio Low CRE exposure 1) Finance and Insurance 29% Commercial Portfolio by Facility Туре 3Q23 Commercial Term 15% CRE Own Occ 12% Commercial Line of Credit 33% No individual sector within "Other" category is larger than 1.8%. $3,310 Total Loans Municipal Financing 31% Equipment Finance 7% 87% of commercial business portfolio is not commercial real estate SBA PPP 0% SBA 7A 1% SBA Own Occ CRE 1% 16#18Conservative Portfolio of Residential Loans Multifamily Loan Characteristics (1) Average Loan Size Average LTV(2) Average DSCR (3) % Delinquent I ■ I $3.29 Million 54% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 1.42x 0.00% 1) 2) 3) Single-Family Real Estate Loan Characteristics (1) 4) Average Loan Size(5) 5) Average LTV(2) Median FICO(4) Conservative underwriting to in-place rents and higher of market or actual vacancy and expenses. No multifamily charge-offs since FFB's creation in 2007. Strong single family borrower characteristics with high FICO scores and larger loan balances. % Delinquent $682 Thousand High credit quality with consistently low LTVs for both multifamily and single-family loans and strong DSCR ratios on multifamily loans. 49% 765 1.80% Data as of September 30, 2023, unless otherwise noted. Loan-to-Value ("LTV") at time of origination. Debt Service Coverage Ratio ("DSCR") represents the actual fully amortizing DSCR based on the initial interest rate, loan amount and property's Net Operating Income ("NOI") at time of origination. Median FICO based on the lowest median score of the borrowing entities associated with each loan at time of origination. FICO data at time of origination not available on ~6% of portfolio related to loans originated by acquired banks. Excludes zero balance HELOCS. 17#19Our Multifamily Expertise The Bank has been originating multifamily loans since 2008 with zero losses to date on its portfolio. I ■ ■ · Product Overview - Essential Housing Focus Primary focus is on small balance (average size of $3.3 million) loans on non-luxury Essential Housing apartment stock Average property has 22 units ■ ■ Approx. 68% of the $2.4B originations in 2022 were rent controlled and on average 14% below market, providing potential upside in rents if units turn over Loans are generally fixed for 3-,5-,7- and 10-year periods Weighted average life of portfolio is 5 (¹) years " ■ Buildings tend to be older and smaller in size with over 60% of properties built between 1950-1980 catering towards at or below median income earners I 30-year maturity with 30-year amortization Conservative Underwriting Conservative underwriting to the lower of in-place rents or market and the higher of market or actual vacancy and expenses No credit is given for future or pro forma figures for rents Loan amounts are underwritten to DSCRs using a qualifying rate that is higher than the initial rate for 3- and 5-year fixed loans 7 and 10 year fixed are underwritten to the initial start rate Interest only options for lower LTV and higher DSCR properties with strong sponsorship All IO loans underwritten to a fully amortizing DSCR X FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved X Sponsors are required to meet minimum liquidity requirements of 6-12 months principal, interest, taxes and insurance, and a minimum of 10% of the loan amount 1) WA Life per Moody's Analytics CMM/Impairment Studio reporting as of 09.30.2023 Geographic Exposure Multifamily Loans 3Q23 ($ in millions) California, $4,586, 87% Alameda Santa Clara Maricopa Sacramento Bexar San Mateo SUBTOTAL Portfolio Total $5,240 Total Loans Exposure by Top 10 Counties Los Angeles Orange San Diego San Francisco Vast majority of the portfolio is in rent controlled markets within California Florida, $97, 2% Texas, $226, 4% Hawaii, $2,0% Nevada, $35, 1% Other, $294, 6% (000s) 2,681,261 445,175 385,968 250,560 224,918 149,880 146,157 104,297 96,804 80,284 % 51.17% 8.50% 7.37% 4.78% 4.29% 2.86% 2.79% 1.99% 1.85% 1.53% 4,565,305 87.1% 5,240,385 100.0% 18#20Industry Trends: Top Performing Asset Class Multifamily loans have historically been the best performing of all real estate loan types 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 2009 2010 2011 Charge-offs by Loan Type for CA-Based Banks LE FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved J 2013 2014 Single Family Multifamily NOO CRE Commercial and Industrial 2012 2015 Average Charge-off Rate (2009 - 12.31.22) Multifamily Single Family NOO CRE Commercial and Industrial 2016 2017 2018 2019 2020 0.19% 0.23% 0.30% 0.70% 2021 2022 Source: S&P Capital IQ; FDIC Call Report Note: Charge-off rate weighted the loan balance of each bank's associated asset class. Only includes California headquartered commercial and savings banks. 19#21Strong Credit Quality 1.00% 0.90% I 0.80% 1 0.70% 0.60% 0.50% I 0.40% I 0.30% 0.21% 0.20% 0.10% 0.00% 0.29% 0.19% 0.09% -0.01% 0.24% YE 2018 0.55% ! .......... 0.20% 0.25% 2018 2019 First Foundation NCOS/Average Loans FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Non-Performing Loans and Assets 0.47% 1) 0.30% 2) 3) 4) 0.39% YE 2020 0.55% ! ...... 10.14% YE 2019 ■First Foundation NPAS/Assets First Foundation NPLs/Loans Peer NPLs/Loans Net Charge-offs (NCOs)/Average Loans 2020 Peer NCOS/Average Loans 0.11% (1)(3) YE 2021 0.40% I 0.13% 0.10% YE 2022 (1)(2) 0.32% I Peer NCO Average, 0.10% ............... First Foundation NCO Average, 0.02% 2021 2022 ...... First Foundation NCO Average 0.10% 0.07% Peer Average 4.1x First Foundation ......... 3Q23 .... (4) 3Q23 ...... Peer NCO Average (4) 0.36% UPBR peer group includes commercial banks with assets between $3 billion and $10 billion for data through 3Q21. Starting in 4Q21 peer group includes commercial banks with assets between $10 and $100 billion. Ratio defined as Total loans and leases on nonaccrual status divided by total loans and leases. Ratio defined as loan and lease charge-off, net of recoveries divided by average total loans and leases. Peer group data based on the most recently available UBPR report of 2Q23. 20#22Deposits FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 21#23Profile of Deposits $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0 $4,891 $1,208 $1,251 $2,285 Deposits by Channel 3Q23 ($ in millions) $5,913 $326 $2,230 24.7% $550 $2,808 YE 2019 YE 2020 Branch Digital 5.5% $8,812 $90 $2,989 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $414 $5,318 $10,363 $1,381 $4,047 $789 $4,146 $10,812 $2,667 $3,353 Brokered Deposits as a % of Total Deposits 1.0% 13.3% $965 $3,827 YE 2021 YE 2022 3Q23 Commercial Services Brokered 24.7% Insured and Collateralized Deposits 87%, Uninsured and Uncollateralized Deposits 13% as of 3Q23 Deposits by Type 3Q23 ($ in millions) $2,413 22% $2,275 21% $10,812 Total Deposits $2,973 28% $3,151 29% ■ Noninterest-Bearing Demand Interest-Bearing Demand ■ Money Market & Savings ■ Certificates of Deposits 3Q23 Cost of Deposits: 3.03% Noninterest-bearing deposits make up 22% of deposit base 22#24Deposits by Geographic Distribution Insured and Collateralized Deposits 87%, Uninsured and Uncollateralized Deposits 13% as of 3Q23 ■ Florida ranks 2nd and Texas 3rd for total number of accounts raised from our nationwide digital bank channel. Core Business Deposits 3Q23 ($ in millions) Florida, $1,272 , 23% California, $2,482, 44% $5,643 Total Business Deposits FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Texas, $760, 13% Other, $876, 15% Hawaii, $217, 4% Nevada, $36, 1% Noninterest-Bearing Deposits 3Q23 ($ in millions) California, $1,299, 54% Florida, $273. 11% $2,413 Total Non-IB Deposits Florida, $1,593 , 19% $8,400 Total IB Deposits Texas, $650 27% California, $2,709, 32% Hawaii, $15, 1% Interest-Bearing Deposits 3Q23 ($ in millions) Hawaii, Nevada, Texas, $203, $271,3% $79, 1% 3% Nevada, $14, 0% Other, $162, 7% Other, $3,545, 42% 23#25Digital Deposit Channel Success Launched digital consumer deposit channel in 3Q19 Products Account Data Benefits ■ . ■ ■ Online savings - 2019 Online CDs - 2020 Online checking - 2020 Online money market - 2022 Balances: $965 million as of 3Q23 6% growth quarter over quarter Good granularity of clients: ~ 12,000 Over 90% new clients Reaching new, younger client audience Average account size: ~$82 K Strong retention experience when dropping rates Low costs to obtain and service Expanded digital experience into our retail branches to include paperless onboarding and in branch support for online opening FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Number of Accounts by Generation 3Q23 Silent Gen (80-96) 3% $1,200 $1,000 $800 $600 $400 $200 $0 Baby Boomer (59- 79) 29% Gen Z (18- 28) 9% Gen X (44-58) 25% Millennial (29-43) 34% 69% of digital bank clients are younger than Baby Boomers Growth Driven by Digital Marketing Strategy ($ in millions) Account Balance Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Number of Accounts દz-das 12,000 10,000 8,000 6,000 4,000 2,000 0 24#26Wealth Management and Trust FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 25#27Comprehensive Offering for High-Net-Worth Clients ■ INVESTMENT MANAGEMENT 1 PHILANTHROPY SERVICES Key Characteristics Lead with sophisticated financial planning to address client needs Open architecture investment philosophy with mix of stocks, bonds, mutual funds, ETFs, private equity, REITs, and separately managed accounts WEALTH PLANNING TRUST SERVICES In-house investment capabilities with strong performance Fee-only model (vs. commission-based brokerage) with avg. fee of 60-70 bps Significant cross promotion opportunities with bank, trust, and philanthropy services Ability to deepen relationship with multiple generations of the family because of trust and philanthropy business 100% of new Assets Under Management ("AUM") and Assets Under Advisement ("AUA") through organic growth, more stable than M&A Presence in affluent communities throughout CA such as Pasadena, San Diego, West Los Angeles, Orange County, in addition to expanding into Naples, FL in 2022 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Combined Advisory and Trust business pre-tax profit margin of 29% in 3Q23 (25% in 2Q23) In-House Expertise to Serve Clients ● ASSET ALLOCATION Wealth Planning ● LEGACY PLANNING ● Lead with planning Entry point to client's total financial picture Asset Allocation Manage custom investment strategies to serve clients across the risk and return spectrum • Utilizes a mix of equities, fixed income, real estate, and alternative assets Open architecture Portfolio Construction Conduct due diligence Create custom portfolios to match clients' goals • Monitor, report, and adjust as necessary 26#28Loyal Clients and Growing Assets Profile of Client Growth Target client of $3 million to $50 million in investible assets Clients are high-net-worth individuals and families (as opposed to institutional) ■ ■ Serve as central point of contact for clients' financial matters Average size of new clients is increasing as model attracts higher net worth clients New client referrals through centers of influence ("COIS") and partner channels, which is difficult for other RIAS to replicate 30+ year track record of building relationships with COIS - shows trust in ability to serve complex client cases Client referrals from existing clients - shows loyalty across clients $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 $5,327 $888 $4,438 Wealth Management AUM and Trust AUA ($ in millions) 6% CAGR YE 2019 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $6,032 $1,105 $4,927 YE 2020 $7,026 $1,345 $5,681 Stable organic growth YE 2021 ■ Wealth Management AUM ■Trust AUA $6,261 $1,276 $4,985 Referrals from Centers of Influence Attorneys, CPAs, and Schwab Advisory Network YE 2022 CLIENTS Target Investible Assets: $3 million to $50 million Referrals from Approx. 20% from loyal clients Existing Clients $6,216 $1,193 $5,023 3Q23 Recruit New Advisors Qualified advisors join firm and attract new clients 27#29Profitability FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 28#30Net Interest Income NII and NIM were adversely impacted due to Fed interest rate actions since 2022. NIM compression is expected if Fed continues with interest rate increases Net Interest Margin $350.0 $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $- $155.6 2018 Net Interest Income ($ in millions) $14,000 $12,000 $10,000 $8,000 $6,000 $5,200 $4,000 $2,000 $0 $170.0 $196.6 $5,921 YE 2018 YE 2019 $233.3 Average Interest-Earning Assets ($ in millions) Loans 2019 2020 2021 2022 I 3Q22 3Q23 YTD YTD $318.7 $6,498 $7,409 YE 2020 YE 2021 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved I I Securities ■ Other $244.0 $10,938 1 $159.8 YE 2022 $12,646 5.00% 3Q23 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 3.22% 0.00% 3.07% 3.31% 3.17% 3.19% 3.00% 3.50% 3.84% 3.18%. 3.10% 0.54% 4.12% (1) 1.23% 4.32% 3.41% 2.52% 2.45% 1.83% 4.51% 4.56% 0.28% 0.26% 0.32% 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Net Interest Margin Earning Assets Yield Cost of Interest-Bearing Liabilities 1) Cost of interest-bearing liabilities excludes the positive impact of non-interest-bearing deposits. 3.97% 4.01% 1.51% 1.66% 29#31Attractive Noninterest Fee Income $70 $60 $50 $40 $30 $20 $10 $0 ■ $34.4 35:3 $4.3 $24.4 2018 Recurring(¹) Noninterest Income ($ in millions) $68.4 10% CAGR $40.6 $4.2 $7.7 $5.6 $23.1 2019 $54.2 $15.1 $9.6 $6.1 $23.4 2020 $21.5 $10.9 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $7.6 $28.4 2021 ■ Investment advisory fees ■Loan and deposit fees $50.5 $11.7 $9.8 $29.0 I I $37.6 $8.6 $6.6 $22.5 $33.6 $7.0 $5.3 $21.3 2022 3Q22 YTD 3Q23 YTD ■ Trust and consulting fees Gain on sale of loans Recurring(¹)Noninterest Income Breakdown 3Q23 YTD 16% 21% $33.6 Million 63% ■ Investment advisory fees ■ Trust and consulting fees ■ Loan and deposit fees Proven ability to generate consistent noninterest recurring fee income. Fee income diversifies First Foundation's operating revenue stream with 17% generated from recurring noninterest income for 3Q23. 1) Recurring revenue includes all noninterest income excluding revenue in the "other" category. 30#32Efficient Operating Platform 2.30% 2.05% 1.80% 1.55% 1.30% 1.05% 0.80% 3Q21 Noninterest Expense / Average Assets 4Q21 1Q22 (1) First Foundation Total FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 2Q22 4Q22 First Foundation Excluding customer service 1) 2) 3Q22 (1) 1Q23 108 bps A 2Q23 Bank Peer group (2) Leveraging its investments in personnel and technology, First Foundation has consistently lowered its noninterest expense to average assets and is currently operating at a significant advantage to peers. 3Q23 Non-GAAP measure. See "Non-GAAP Financial Measures". Uniform Bank Performance Report ("UBPR") Peer group includes commercial banks with assets between $3 billion and $10 billion for data through 3Q21. Starting in 4Q21 peer group includes commercial banks with assets between $10 and $100 billion. Peer group data based on the most recently available UBPR report of 2Q23. 31#33Earnings Growth While Investing in the Future Adjusted Income Before Taxes ($ in millions) (1) 26% CAGR $180 $160 $140 $120 $100 $80 $60 $40 $20 $- I I ■ ■ $62.0 $81.7 $120.7 $152.9 $154.81 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $130.3 $16.5 Return on Average Tangible Common Equity (1) 11.0% 11.9% 15.5% 2018 2019 2020 2021 2022 3Q22 3Q23 YTD YTD Performance driven by growth in loans, deposits, and assets under management. Scalable business model with significant expense leverage. Challenges to earnings in 2023 are due to continued anticipation of future Fed rate hikes. Expect 2023 earnings to be challenged due to continued margin compression. 2018 2019 2020 1) Non-GAAP measure. See "Non-GAAP Financial Measures". 16.9% 13.0% I I I 14.4% 2.2% 2021 2022 3Q22 3Q23 YTD YTD 32#34Track Record of Delivering Profitability Adjusted Return on Average Assets (¹) 1.43% 0.84% 2018 63.3% 2018 0.94% 1.28% 2019 2020 2021 60.2% 49.3% Efficiency Ratio (¹) 47.5% 1.00% FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 2022 3Q22 3Q23 YTD YTD 58.6% 1.14% 1) 0.15% 54.7% 2019 2020 2021 2022 3Q22 3Q23 YTD YTD 91.9% 11.0% Return on Average Tangible Common Equity(1) $1.04 11.9% 2018 2019 $1.29 2018 2019 Non-GAAP measure. See "Non-GAAP Financial Measures". 15.5% 16.9% $1.91 2020 2021 2022 3Q22 YTD 13.0% Adjusted Diluted Earnings Per Share (¹) $2.43 2020 2021 14.4% $2.02 $1.67 2.2% 2022 3Q22 YTD 3Q23 YTD $0.26 3Q23 YTD 33#35Securities Portfolio ■ ■ 89% of investment portfolio is government guaranteed Highly liquid and pledgeable Portfolio 1% 3% Investment Securities 3Q23 8% 24% $1,622 MM Total 64% ■ CMO MBS Munis SBA FHLMC Corporate Treasury FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 1) Tax-effected. ■ AFS unrealized loss $19 Million(¹) HTM unrealized loss $75 Million (¹) Total unrealized loss $94 Million (¹) Securities Mix 3Q23 ($ in thousands) 49% $1,622 MM Total ▪ AFS 51% - HTM 34#36Why First Foundation Financial Performance Strong and stable revenue from core operations Recurring non-interest revenue from in- house wealth management and trust operations Diversified and high-quality loans +23 Leadership and Culture Experienced and proven management team Talented workforce with client-centric culture Significant insider ownership aligned with shareholders' interests FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved ■ ■ ZO Valuable Business Model Commercial banking model augmented with wealth management and trust expertise Organic growth strategy complemented by strategic acquisitions Valuable client base with cross promotion opportunities. Strong presence in geographic markets with high household income Technology-centric infrastructure to enhance the client experience and drive efficiency Ali Credit Quality Conservative credit culture driving superior asset quality Very low non-performing assets Low to minimal historical charge-offs Well capitalized 35#37Appendix FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 36#38A Tradition of Serving Our Clients History of First Foundation The Keller Group was created as an RIA to provide private wealth management services 1990 First Foundation Bank was created as a de novo banking charter. 2007 2004 Created services to meet the needs of individuals, families, and businesses. First Foundation is adopted as the name for all affiliates. 2010 2008 Philanthropy Services are added to complement HNW business. First Foundation Bank acquires Desert Commercial Bank. FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved First Foundation West Los Angeles opens for business. 2012 2011 First Foundation San Diego Office opens for business. First Foundation lists shares on NASDAQ Global Stock Market under ticker "FFWM" 2014 2013 First Foundation Las Vegas Office opens for business. First Foundation begins offering trust services. First Foundation Bank opens offices in Laguna Hills and Seal Beach. 2016 2015 First Foundation enters Hawaii market through acquisition of Pacific Rim Bank. First Foundation expands in LA with office in Palos Verdes Estates through acquisition of PBB Bancorp 2018 2017 First Foundation expands into Sacramento, Auburn, and Roseville through acquisition of Community 1st Bancorp Relocation of Principal Executive Office to Dallas, TX. Expands into Florida through acquisition of TGR Financial. 2021-22 2020 First Foundation enhances digital offering through partnership with leading FinTech provider. The path First Foundation Inc. has taken to provide banking, trust, financial planning, investment management, estate and legacy planning and consulting services to our clients, all under one roof and all under this level of care, is a path not often traveled. But we prefer it this way. At First Foundation Inc., we've never taken the easy path, but we've always chosen the right one - for our clients, our communities, and our stakeholders. 37#39Industry Recognition A sampling of awards and accolades received 2021 Vision List - Outperforming Stock First Foundation Inc. (FFWM) made B Riley's Vision List which is a list BRILEY Securities of the top-24 stocks across all industries selected by analysts to outperform the small-cap benchmark Russell 2000 Index in the current year. Each year analysts are tasked to identify a single, immutable pick to outperform based a set of defined criteria. Member FINRA/SIPCI & B. Riley Financial company CELENT MODEL BANK 2020 THE CIVIC 50 POINTS OF LIGHT BARRON'S Model Bank Employee Enablement First Foundation Bank was recognized as a Model Bank for Employee Enablement by Celent as we developed an integrated back-end and front-end data warehouse and employee intranet designed to keep everything connected and in sync. 2021 Civic 50 First Foundation was included in the OneOC Civic 50 list, which is compiled annually to spotlight those companies who are civic- minded within the communities they serve. Barron's Top 100 Independent Advisors America's top independent financial advisors, as identified by Barron's. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms, and the quality of the advisors' practices. Bank & Thrift Sm-All Stars Class of 2022: FFWM The Sm-All Stars represent the top performing small-cap banks and PIPER SANDLER thrifts in the country. This is the third time FFWM was one of 35 banks chosen. According to Piper Sandler, banks selected have superior performance metrics in growth, profitability, credit quality and capital strength. WALL STREET JOURNAL S&P Global FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Gallagher CNBC Best Performing Bank in 2021 with Assets Greater than $10B First Foundation Bank ranked as the 6th best performing bank in 2021 with assets greater than $10B. S&P Global Market Intelligence calculated score for each bank on six key metrics. Best-in-Class for HR Management Gallagher, a global human resources consulting firm, has awarded our team with an award for Best-in-Class for HR Management from their 2019 Benefits Strategy and Benchmarking Survey. BankDirector.com Bank Director Best Small Regional Bank First Foundation Bank (FFB) was selected as the Top 4 small regional bank in the nation in the most recent ranking by Bank Director. The list selected the top 10 banks in each peer group based on several metrics provided by S&P Global Market Intelligence as of year-end 2020 and then studied and ranked each bank further for its performance. CNBC FA 100 The CNBC FA 100 recognizes the advisory firms that top the list when it comes to offering a comprehensive planning and financial service that helps clients navigate through their complex financial life. Featured in the Media First Foundation is a contributor to the media on important topics related to our industry BARRON'S CNBC See disclosures at: https://www.firstfoundationinc.com/important-disclosure-information. MarketWatch 38#40Selected Financial Information Financial Highlights: As of for 3Q23 YTD Loans $10.3 Billion $10.8 Billion $13.1 Billion $6.2 Billion $16.19 Deposits Total Assets FFA AUM & Trust AUA TBV per share(¹) FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved Revenue: Adjusted Net Income (¹) Adjusted ROAA (1) ROATCE(¹) Efficiency Ratio (1) 1) Non-GAAP measure. See "Non-GAAP Financial Measures". $195.3 Million $14.7 Million 0.15% 2.15% 91.9% 39#41Current Expected Credit Losses (“CECL”) Reserves CECL Methodology Ongoing Impact ■ ▪ The increase of allowance to remaining loan portfolio is mainly due to adjustments in economic assumptions in the models. ■ H H Allowance for Credit Loss of 28 bps of loans held for investment includes a net increase of $2.29 million in 3Q23 as a result of a $3.46 million decrease in reserve on loans and $682 thousand specific reserve release related to PCD loans, primarily due to a payoff, partially offset by an increase of $153 thousand related to impaired loans and an increase of $1.7 million in qualitative adjustments to the loan portfolio to reflect current market conditions and the effect of high interest rates. H Probability of Default ("PD") and Loss Given Default ("LGD") term structure approach for majority of loan portfolio (97% of Non-PCD portfolio) with Loss Rate approach for remainder of Non-PCD loan portfolio. PCD loans associated with the TGR Financial acquisition were individually assessed for credit losses based on methodologies consistent with the CECL standards. Reasonable and supportable forecast period of 2 years using a weighting of Moody's consensus and alternative economic scenarios. Reversion to long run historical PDs and LGDs after 2 year period. Management expects key drivers of provisioning and reserving under CECL standard going forward to include: Replenishment of reserves for net charge-offs Change in portfolio size and composition ■ All other macroeconomic variables and loan level characteristics Ongoing reserve levels will continue to utilize quantitative and qualitative information. ■ FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 40#42Balance Sheet and Equity Capital 8.31% YE 2019 $11.57 YE 2019 TCE/TA(¹) 8.75% YE 2020 $13.44 8.44% TBV Per Share(¹) 9.4% CAGR $14.92 YE 2020 YE 2021 YE 2021 FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved 7.13% YE 2022 $16.20 YE 2022 1) 2) 7.00% 3Q23 $16.19 3Q23 8.22% 8.25% YE 2019 11.12% 11.15% Tier I Leverage Ratio (2) YE 2019 8.98% 8.93% YE 2020 8.53% 8.43% Bank YE 2020 YE 2021 12.25% 12.17% 12.04% 11.90% Bank Total Risk-Based Capital Ratio (2) 8.59% Consolidated YE 2021 YE 2022 11.01% 7.44% Consolidated YE 2022 Use of Non-GAAP Measures Regulatory capital ratios for 3Q23 are preliminary until filing of our September 30, 2023 FDIC call report. 11.29% 8.34% 7.25% 3Q23 11.66% 11.98% 3Q23 41#43Non-GAAP Return on Average Tangible Common Equity (ROATCE), Adjusted Return on Average Assets and Net Income Return on average tangible common equity was calculated by excluding average goodwill and intangibles assets from the average shareholders' equity during the associated periods. Adjusted return on average assets represents adjusted net income attributable to common shareholders divided by average total assets. Adjusted net income attributable to common shareholders includes various adjustments to net income, including an adjustment for non-cash goodwill impairment charges, and any associated tax effect of those adjustments during the associated periods. The table below provides a reconciliation of the GAAP measure of return on average equity to the non-GAAP measure of return on average tangible common equity. The table below also provides a reconciliation of the GAAP measure of net income (loss) to the non-GAAP measure of adjusted net income attributable to common shareholders. The table below also provides a reconciliation of the GAAP measure of return on average assets to the non-GAAP measure of adjusted return on average assets. (S in thousands) Unaudited Average shareholders' equity Less: Average goodwill and intangible assets Average tangible common equity Average total assets Net Income Add: Goodwill impairment Adjustments: Plus: Amortization of intangible assets expense Plus/(Less): Merger related costs Plus: Professional service costs Plus: Valuation loss on equity investment Plus: Severance costs Less: Incentive compensation reversal Less: Stock compensation reversal Less: FDIC insurance expense refund Total Adjustments Less: Tax effect on adjustments Adjusted Net Income (loss) available to common shareholders Tax rate utilized for calculating tax effect on adjustments Return on average equity(¹) Return on average tangible common equity(²) Return on average assets (3) Adjusted return on average assets (4)(5) FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $ 474,256 $ 69,177 585,728 $ 98,291 $ 405,080 $ 487,437 $ $ FY 2018 $ 5,300,243 42,958 $ 2,043 2,043 (592) 44,408 $ 9.1% 11.0% 0.81% 0.84% 12345 29% 3) FY 2019 5) 6,156,739 2,291 2,291 (664) 57,866 $ 29% 9.6% 11.9% FY 2020 0.91% 0.94% 649,031 $ 96,209 552,823 $ 56,239 $ 84,369 $ 109,511 $ 6,690,422 1,895 29% FY 2021 13.0% 15.5% 1.26% 1.28% 759,101 $ 1,100,684 $ 1,091,776 $ 1,047,303 104,355 222,393 222,515 135,098 654,746 $ 878,291 $ 869,261 $ 912,205 7,733,279 11,456,932 11,035,499 1,579 1,579 (458) FY 2022 29% 1,895 4,949 (1,400) (550) 85,714 $ 110,632 $ 114,061 $ 14.4% 16.9% 1.42% 1.43% 110,512 $ 1,914 (36) 971 6,250 (4,150) 28% 10.0% 13.0% Nine Months Ended, 9/30/2022 9/30/2023 0.96% 1.00% 4) Annualized adjusted net income divided by average assets. Use of Non-GAAP measure. 93,158 $ 1,459 1,459 (423) 94,194 $ 29% 11.4% 14.4% 1.13% 1.14% 13,147,524 (201,612) 215,252 1,247 1,374 748 (1,118) (724) 1,527 (428) 14,739 28% -25.7% 2.15% -2.04% 0.15% Annualized net income divided by average shareholders' equity. Annualized adjusted net income available to common shareholders divided by average tangible common equity. Annualized net income divided by average assets. 42#44Non-GAAP Efficiency Ratio Efficiency ratio is a non-GAAP financial measurement determined by methods other than in accordance with U.S. GAAP. This figure represents the ratio of adjusted noninterest expense to adjusted revenue. The table below provides a calculation of the non-GAAP measure of efficiency ratio. ($ in thousands) Unaudited Total noninterest expense Less: Amortization of intangible assets expense (Less)/Plus: Merger-related expense Less: Professional service costs Less: Severance costs Less: Goodwill impairment Plus: Incentive compensation reversal Plus: Stock compensation reversal Plus: FDIC insurance expense refund Adjusted Noninterest expense Net interest income Plus: Total noninterest income Plus: Valuation loss on equity investment Less: Net gain (loss) from other real estate owned Less: Net gain (loss) from securities Less: Net gain on other equity investments Less: Net gain on sale-leaseback Adjusted Revenue Efficiency Ratio FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $ FY 2018 $ 127,075 $ (2,043) (3,794) $ 121,238 $ 155,610 $ 35,771 FY 2019 63.3% 129,594 $ (2,291) 127,303 $ 169,954 $ 41,776 (742) 316 $ 191,381 $ 211,304 $ 60.2% FY 2020 125,778 $ (1,895) 123,883 $ 196,644 $ 54,647 251,291 $ 49.3% FY 2021 148,086 $ (1,579) (2,606) 143,901 $ 233,284 $ 70,453 (1,069) 302,668 47.5% FY 2022 216,589 $ (1,914) 36 (971) 4,150 217,890 $ 318,690 $ 48,234 6,250 Nine Months Ended, 9/30/2022 9/30/2023 58.6% 156,765 $ (1,459) 35 155,341 $ 243,971 $ 41,011 (1,111) (1,111) 372,063 $ 283,871 $ 54.7% 396,310 (1,247) (1,374) (748) (215,252) 1,118 724 179,531 159,812 35,475 195,287 91.9% 43#45Non-GAAP Noninterest Expense to Average Assets Ratio Noninterest expense to average asset ratio is a non- GAAP financial measurement determined by methods other than in accordance with U.S. GAAP. This figure represents the ratio of noninterest expense less amortization of intangible assets expense to the average assets during the associated periods for First Foundation Bank. We believe this non-GAAP measure is important to investors and provides meaningful supplemental information regarding the performance of the Company. This non-GAAP measure should not be considered a substitute for financial measures presented in accordance with GAAP and may differ from similarly titled measures reported by other companies. The table below provides a calculation of the non-GAAP measure of noninterest expense to average assets for FFB Consolidated. ($ in thousands) - Unaudited Noninterest Expense to Average Assets Ratio Total noninterest expense Less: Amortization of intangible assets expense (Less)/Plus: Merger-related expense Less: Professional service costs Less: Severance costs Less: Goodwill impairment Plus: Bonus accrual adjustment Plus: Stock compensation reversal Plus: FDIC insurance expense refund Adjusted Noninterest expense Less: Customer service expense Adjusted Noninterest expense exc. customer service expense Average Assets Noninterest Expense to Average Assets Ratio Noninterest Expense exc. Customer Service Expense to Average Assets Ratio FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $ $ $ 3Q21 31,488 $ (372) (384) 30,732 $ (2,512) 28,220 $ 7,922,934 1.55% 1.42% 4Q21 32,440 $ (365) (1,056) 1Q22 1.53% 1.43% (509) 36 39,628 $ (1,788) 37,840 $ 2Q22 40,101 $ 42,032 $ 53,571 $ 52,915 $ (491) (459) (454) 31,019 $ (2,140) 28,879 $ 8,088,622 10,391,150 10,720,238 1.53% 1.46% 41,541 $ (4,611) 36,930 $ 3Q22 1.55% 1.38% 53,112 $ (13,560) 39,552 $ 4Q22 1.81% 1.35% (971) 2,850 54,340 $ (18,219) 36,121 $ 1Q23 1.71% 1.14% (782) (468) 11,757,962 12,680,435 13,220,269 51,645 $ 265,952 $ 57,988 (434) (419) (393) 1,118 724 51,803 $ (16,715) 35,088 $ 2Q23 1.57% 1.06% (342) (280) (215,252) 49,659 $ (19,004) 30,655 $ 3Q23 1.48% 0.92% (250) 57,345 (24,682) 32,663 13,388,980 12,882,518 1.78% 1.01% 44#46Non-GAAP Tangible Common Equity Ratio, Tangible Book value Per Share, And Adjusted Earnings Per Share Tangible shareholders' equity, tangible common equity to tangible asset ratio, tangible book value per share, and adjusted earnings per share (basic and diluted) are non-GAAP financial measurements determined by methods other than in accordance with U.S. GAAP. Tangible shareholder's equity is calculated by taking shareholder's equity and subtracting goodwill and intangible assets. Tangible common equity to tangible asset ratio is calculated by taking tangible shareholders' equity and dividing by tangible assets which is total assets excluding the balance of goodwill and intangible assets. Tangible book value per share is calculated by dividing tangible shareholders' equity by basic common shares outstanding, as compared to book value per share, which is calculated by dividing shareholders' equity by basic common shares outstanding. Adjusted earnings per share (basic and diluted) is calculated by dividing adjusted net income attributable to common shareholders by average common shares outstanding (basic and diluted). The reconciliation of GAAP net (loss) income to adjusted net income attributable to common shareholders is presented on slide 42 in "Non-GAAP Return on Average Tangible Common Equity (ROATCE), Adjusted Return on Average Assets and Net Income." The table below provides a reconciliation of the GAAP measure of shareholders' equity to tangible shareholders' equity. The table below also provides a reconciliation of the GAAP measure of equity to asset ratio to the non-GAAP measure of tangible common equity to tangible assets ratio. The table below also provides a reconciliation of GAAP measure of book value per share to the non-GAAP measure of tangible book value per share. The table below also provides a reconciliation of the GAAP measure of net (loss) income per share (basic and diluted) to the non-GAAP measure of adjusted earnings per share (basic and diluted). ($ in thousands, except per share amounts) FY 2018 FY 2019 FY 2020 FY 2022 3Q23 YTD Unaudited Shareholders' equity Less: Goodwill and intangible assets Tangible Common Equity Total assets Less: Goodwill and intangible assets Tangible assets Equity to Asset Ratio Tangible Common Equity Ratio Book value per share Tangible book value per share Basic common shares outstanding Adjusted net income available to common shareholders Average basic common shares outstanding Average diluted common shares outstanding Earnings per share (basic) Earnings per share (diluted) Adjusted earnings per share (basic) Adjusted earnings per share (diluted) FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved $ $ 559,184 $ 99,482 459,702 $ 9.57% 8.01% $12.57 $10.33 613,869 $ 97,191 516,678 $ $ 5,840,412 $ 6,314,436 $ 99,482 97,191 6,957,160 $ 10,196,204 $13,014,179 $13,051,564 95,296 222,125 221,835 5,337 $ 5,740,930 $ 6,217,245 $ 6,861,864 $ 9,974,079 $ 12,792,344 $ 13,046,227 9.72% 8.31% $13.74 $11.57 44,496,007 44,670,743 42,092,361 42,567,108 $1.02 $1.01 $1.06 $1.04 695,711 $ 1,064,051 $ 1,134,378 $ 95,296 222,125 221,835 600,415 $ 841,926 $ 912,543 $ 10.00% 8.75% $15.58 $13.44 44,667,650 FY 2021 $ 44,408 $ 57,866 $ 85,714 $ $1.89 $1.88 $1.92 $1.91 10.44% 8.44% $18.86 $20.14 $14.92 $16.20 56,432,070 56,325,242 110,632 $ 114,061 $ 14,739 44,617,361 44,639,430 45,272,183 56,422,450 56,443,539 44,911,265 44,900,805 45,459,540 56,490,060 56,449,720 $1.26 $2.42 $1.96 $1.25 $2.41 $1.96 $1.30 $2.44 $2.02 $1.29 $2.43 $2.02 919,207 5,337 913,870 8.72% 7.13% 7.04% 7.00% $16.29 $16.19 56,443,774 ($3.57) ($3.57) $0.26 $0.26 45#47FIRST FOUNDATION Copyright © 2023 First Foundation Inc. All Rights Reserved FIRST FOUNDATION firstfoundationinc.com