First Foundation : Investor Presentation Q1 2022

INVESTOR PRESENTATION

Safe Harbor Statement

This presentation and the accompanying oral commentary contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. 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 presentation and any accompanying oral commentary 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 presentation and any accompanying oral statements 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 negative impacts and disruptions resulting from the COVID-19 pandemic on our colleagues, clients, thecommunitiesweserveandthedomesticandglobaleconomy,whichmayhaveanadverseeffectonourbusiness,financialpositionandresultsofoperations;theriskthatwewillnot 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 the Federal Reserve Board taking actions with respect to interest rates, which could adversely affect our interest income and interest rate margins 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; the risk that we may be unable or that our board of directors may determine that it is inadvisable to pay future dividends; risks associated with changes in income tax laws and regulations; and risks associated with seeking new client relationships and maintaining existing client relationships.

Further, statements about the potential effects of the acquisition of TGR Financial, Inc. ("TGR Financial") on our business, financial results, and condition may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in the forward-looking statements due to factors and future developments which are uncertain, unpredictable and in many cases beyond our control, including the risk that the benefits from the acquisition may not be fully realized or may take longer to realize than expected or be more costly to achieve, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which we and TGR Financial operate; our ability to promptly and effectively integrate the companies' businesses; reputational risks and the reaction of the companies' customers, employees and counterparties to the acquisition; diversion of management time on integration-related issues; and lower than expected revenues, credit quality deterioration or a reduction in real estate values or a reduction in net earnings.

Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in our 2021 Annual Report on Form 10-K for the fiscal year ended December 31, 2021 that we filed with the SEC on February 28, 2022, and other documents we file with the SEC from time to ti me. We urge recipients of this presentation 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 these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation, 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 presentation 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 NASDAQ 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 Company's press release as of and for the quarter ended March 31, 2022. 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.

A Multi-Diversified Regional Financial Services Company with a Personal Touch

COMPANYCORE BUSINESSTARGET CLIENTS

NASDAQ: FFWM

Five States: CA, TX, NV, HI, and FL 687 Employees, 31 Branch/Office Locations

PERSONAL BANKING PRIVATE BANKING BUSINESS BANKING

PRIVATE WEALTH MANAGEMENT

TRUST SERVICES

Complementary services

SMALL AND MEDIUM BUSINESSES HOAs, MSRs, 1031 EXCHANGES, TITLE AND ESCROW COMPANIES

LOCAL MUNICIPALITIES

Data as of March 31, 2022.

BUSINESS OWNERS REAL ESTATE INVESTORSHIGH NET WORTH INDIVIDUALS MULTI-GENERATIONAL FAMILIES CORPORATE EXECUTIVES NONPROFITS

Focus on providing exceptional service

Commercial Banking at Our Core

First Foundation is a full-service regional commercial bank offering robust business and consumer banking in addition to a full suite of wealth management and trust solutions for our clients

Diversified Commercial Lending	• Diversified commercial business lending with 29% of loans comprised of commercial term loans, revolving lines of credit, owner occupied CRE, public financing, and equipment leasing. • Commercial business originations totaled 42% for 1Q22 representing a 19% increase year over year. • Mature commercial real estate offerings. • 42% of total loans in multifamily. Deep relationships with our multifamily borrowers with over 60% of originations in 1Q22 sourced directly from borrowers (no broker involvement).
Core Deposit Funding	• Strong base of core deposits with 99% attributable to core, non-wholesale deposits. • 72% of core deposit base is made up of commercial business deposits. • 37% of deposits in in non-interest bearing accounts. • Our commercial deposit services channel, which represents 34% of total deposits, offers complex treasury management services exclusively to a variety of large commercial clients such as mortgage servicers, HOAs, 1031 exchange accommodators, property management, contractor retention, among many others. • Certificates of deposits only account for 7.1% of deposits and wholesale deposits are down to 1.0%.
Complementary Wealth Management and Trust Offering	• Advisory and trust fees provide diversification to revenue. 15% of total revenue is derived from recurring noninterest income in 1Q22. • Pre-tax profit margin for Advisory and Trust divisions of 21% in 1Q22. • Solid year-over-year client growth, 100% of new assets through organic growth. • Ability to attract and retain clients using trust solutions and estate planning. • Diversified client acquisition model from key internal and external referrals and centers of influence.
Consistent Profitability	• Past investments paying off with strong ROAA of 1.18% and ROATCE of 14.7% in 1Q22. • Extremely efficient operations with efficiency ratio of 53.1% in 1Q22. • NIM of 3.00% in 1Q22 (3.17% in 4Q21), negatively impacted this quarter by excess liquidity.

Strong Regional Presence

•  Headquartered in Dallas, TX, FFWM has 31 branch / offices locations in five states: CA, TX, NV, HI, and FL

•  Recent expansion to Southwest Florida with the completed acquisition of TGR Financial fits well with FFWM's history of delivering commercial banking and wealth management services

•  FFWM's loan portfolio is primarily concentrated within the branch footprint; 71% of total loans in CA, 3% in TX, 1% in NV, 1% in HI, and 14% in FL

•  Expansion focused on attractive markets with positive demographic trends and business friendly environments

Presence in Some of the Fastest Growing MSAs in the Country

Located in Expanding and Affluent Markets

Source: SNL Financial; Claritas LLC; FDIC branch reports from SNL Financial; Company Reports

•  Average household income of $83k versus overall U.S. market of $62k(1)

•  ~2.0x the U.S. average branch deposit growth in our footprint over the past 5 years

  • o 87% in our footprint versus 45% nationwide(2)

Outsized population growth in markets with large market share(1)(3)

•  Riverside-San Bernardino-Ontario, CA: 3.1%

•  Sacramento-Roseville-Folsom, CA: 3.1%

•  Las Vegas-Henderson-Paradise, NV: 5.6%

Exceptional historical and projected population growth in newly-entered markets(1)

• 1. As of February 2022.

  •  Dallas-Fort Worth-Arlington, TX (Historical): 7.3%(3)

• 2. As of latest FDIC branch report dated September 2021.

• 3. 5 year historical.

  •  Dallas-Fort Worth-Arlington, TX (Projected): 5.9%( 4)

• 4. 5 year projected.

•  Naples-Marco Island, FL (Historical): 8.8%( 3)

•  Naples-Marco Island, FL (Projected): 5.7%( 4)