Latest news with #FFB
Yahoo
3 days ago
- Business
- Yahoo
First Foundation Bank review (2025): Personal and business banking with competitive online rates
Summary: First Foundation Bank (FFB) is a California-based bank that provides consumer and business banking products as well as private wealth management services. The bank was founded in 2008, though its roots date back to 1990 when it originally provided wealth management services to individuals and businesses in Orange County. Today, it operates a handful of branches in California, Florida, Hawaii, Nevada, and Texas and provides online accounts. First Foundation Bank offers three checking account options. Personal checking: The personal checking account requires a $100 minimum opening deposit, but there's no ongoing minimum balance required. There are also no monthly fees. However, this account does not earn interest. Personal interest checking: This interest-bearing checking account also requires a minimum opening deposit of $100. It comes with a monthly fee of $20, which can be waived by maintaining a minimum daily balance of $2,500. Senior interest checking: This interest-bearing account is designed for customers age 55 and older. There is no minimum balance required to avoid monthly fees or earn the highest rate. It also comes with free checks. First Foundation Bank reimburses ATM fees (nationwide) for checking account customers up to $20 per transaction. First Foundation Bank offers a variety of savings accounts tailored to meet different financial goals and preferences. Personal savings: This traditional savings account requires a minimum opening balance of $100. There is a $3 monthly maintenance fee, which can be waived by maintaining a minimum daily balance of $250 or more. Senior savings: This savings account for customers age 55 and older requires a minimum opening deposit of $100. It also charges a $3 monthly maintenance fee, which can be waived by maintaining a minimum daily balance of $250 or more. Online savings: The online savings account offers a competitive interest rate (4.25% APY as of May 2025) and has no monthly fee. It does, however, require a larger minimum opening deposit of $1,000. First Foundation offers personal and online money market accounts. Both accounts give you debit card and check writing access while earning a high yield on your balance. The online money market account has a 4.25% APY ($1,000 minimum deposit required), ranking it among the best money market accounts available today. Additionally, First Foundation Bank's money market accounts have no monthly maintenance fees. They also offer ATM fee reimbursements when using a debit card. First Foundation Bank offers various CDs, including two you can open online (four-month and 12-month terms). CDs require a $2,500 minimum deposit. Here's a look at the common fees you may incur as a First Foundation Bank customer: While this bank has some attractive offers, consider these pros and cons before opening an account. Pros Competitive interest rates on deposits: The yields on savings, CD, and money market accounts are among the best available today. Online accounts have no monthly fees: Several of this bank's accounts, including its online accounts, have no monthly fees. Generous ATM fee reimbursement: First Foundation reimburses up to $20 of ATM fees per transaction. There is no monthly limit on reimbursements. Cons Higher minimum deposit requirements: Several accounts have minimum opening deposit or monthly balance requirements to avoid the monthly maintenance fee. Limited branch access: FFB has 31 branches in California, Florida, Hawaii, Nevada, and Texas. Some of its products can only be opened in person. FFB has several contact methods. You can email the Digital Bank team with questions at newaccount@ Phone support is available Monday through Thursday from 5:00 a.m. to 8:00 p.m. PT, Friday from 5:00 a.m. to 6:00 p.m. PT, and Saturday from 6:00 a.m. to 2:30 p.m. PT. The contact number is 888-405-4332. First Foundation Bank's app has mostly positive reviews with a 4.1-star rating on the Google Play store and a 4.6-star rating on the Apple App Store. Many users say the app is easy to use and intuitive, while some report various technical issues. The app lets you get a quick glance at your accounts, view statements, transfer money, pay bills, and deposit checks. While banking apps often focus on banking activities, FBB's app also lets you link external accounts for budgeting purposes. First Foundation's corporate headquarters are located at the following address: 18101 Von Karman Ave., Suite 750 Irvine, CA 92612 For phone support, call 888-405-4332. Yes, First Foundation Bank is FDIC-insured up to $250,000 per depositor per ownership category. First Foundation Bank's routing number is 122287581. As an FDIC-insured bank, FFB is very safe. Your money is insured up to the allowable limit. Yes, First Foundation Bank is real. It is a California-based bank with physical locations in five states. First Foundation Bank is a relatively small bank. It has $12.6 billion in bank assets and $5.1 billion in advisory assets as of March 31, 2025. It has 562 employees and 31 branch locations.
New Straits Times
4 days ago
- Business
- New Straits Times
FGV's Q1 profit misses expectations despite higher FFB output, says HLIB
KUALA LUMPUR: FGV Holdings Bhd's first quarter (Q1) 2025 net profit fell below the analyst's expectation, said Hong Leong Investment Bank Bhd (HLIB). "The company's Q1 2025 net profit of RM23.3 million fell short of expectations, accounting for only 7.2 per cent and 7.7 per cent of consensus and the firm's full-year estimates, respectively," the bank said. Despite facing less-than-favourable weather conditions, HLIB said FGV's fourth month of 2025 (4M25) FFB output growth of 12.7 per cent beat Malaysia's fresh fruit bunch (FFB) output growth of -1.0 per cent during the same period, and management attributed the stark productivity improvement to enhanced estate practices and better labour availability. Given the strong FFB output achieved year to date (YTD), management raised its FY25 FFB output growth guidance to eight to 10 per cent (from five to eight per cent earlier). On its CPO production cost guidance, HLIB said despite improved productivity, FGV's ex-mill CPO production cost increased by 5 per cent to RM3,040 per metric tonne (mt) in Q1 2025, due to higher harvesting, transportation and manuring costs. "FGV anticipates such cost to ease to less than RM2,700 per mt for the full year, mainly on the back of lower fertiliser cost," it said. Overall, HLIB has cut its financial year 2025 (FY25) to FY27 net profit forecasts by 22.1 per cent/16.2 per cent/15.9 per cent, mainly to account for lower FFB milling and oils & fats margin assumptions. "Maintain Hold rating, with an unchanged target price of RM1.30 (i.e., FELDA's latest takeover offer price)," it added.
The Star
5 days ago
- Business
- The Star
FGV's 1Q earnings bolstered by higher FFB yields, price
KUALA LUMPUR: FGV Holdings Bhd 's performance in the first quarter of 2025 (1QFY25) was buoyed by the contribution of its plantations division, which benefited from increases in fresh fruit bunch (FFB) yield and price. "We are encouraged by the improved 1Q FY2025 results, particularly the consistent performance of our plantation division. "A steady growth compared to same quarter last year, reflects the resilience of our operations and the positive impacts of our ongoing agronomic improvements," said group CEO Fakhrunniam Othman in a statement. In 1QFY25, FGV's bottomline turned positive with a net profit of RM36.48mil as compared to a net loss of RM13.49mil in the year-ago quarter. The group posted an earnings per share of one sen as compared to a loss per share of 0.37 sen in the comparative quarter. Revenue during the quarter under review rose to RM5.04bil from RM4.54bil previously. According to FGV, the plantations division posted a strong turnaround during the quarter, with a profit of RM50.67mil compared to a loss of RM62.14mil in the same quarter in 2024. The improvement was driven by a 5% increase in FFB production to 770,000 tonnes (MT), resulting in a higher FFB yield of 3.05MT per hectare. There was also a 24% increase in FFB price, which reached RM974 per MT, although the oil extraction rate declined to 19.94% from 20.59% in the same quarter in 2024. The division's performance was further supported by stronger contributions from the R&D segment, particularly the fertiliser business, which recorded stronger margins and higher sales volume. However, these gains were partially offset by a higher fair value charge on the land lease agreement, which increased to RM115.91mil from RM86.04mil in the same period last year. The group's other divisions did not fare as well during the quarter. The oils and fats division reported a loss of RM11.57mil due a lower margin in the bulk commodities segment and reduced processed palm oil (PPO) delivery volumes. In the logistics and support division, there was a slightly lower net profit of RM32.47mil, driven by lower tonnage handled in the logistics segment, although this was partially offset by higher profit in the IT segment. The sugar division posted a lower profit of RM11.46mil against RM67.17mil in the same quarter last year due to reduced margin, lower sales volume and decreased capacity utilisation, despite a reduction in production costs The consumer products division narrowed its losses to RM6.09mil from RM8.75mil in the corresponding quarter of the previous year, supported by better margins in the consumer products segment and lower losses in the integrated farming and dairy segments. Moving forward, FGV said CPO prices are expected to ease from RM4,700 per MT to about RM4,000 per MT in the coming months as supply improves with favourable weather, seasonally higher cropping cycles, and the absence of festive-related demand. The group said it will continue enhancing yields, extracting greater value from existing assets and expanding its footprint in the domestic consumer market. Over the longer term, FGV is advancing portfolio diversification through high-value fast-moving consumer goods (FMCG) and international market penetration. "Our core priority is to deliver sustainable shareholder value while navigating a complex external environment. Global headwinds including rising trade tensions, the introduction of new tariffs, and slower-than-expected biodiesel demand may weigh on commodity sentiment. "However, FGV's diversified operations, strong plantation fundamentals and commitment to integrated value creation position us well to withstand volatility and unlock long-term growth," said Fakhrunniam.
New Straits Times
5 days ago
- Business
- New Straits Times
CIMB Securities upgrades Hap Seng Plantations to 'Buy' on solid fundamentals
KUALA LUMPUR: CIMB Securities Sdn Bhd has upgraded Hap Seng Plantations Holdings Bhd to a 'Buy' call from 'Hold' with an unchanged target price of RM2.02 per share, citing attractive valuations following a recent share price correction. The firm said the stock's valuation has become compelling, with an enterprise value (EV) of RM25,000 per hectare for its planted estates, which is below the estimated replanting cost of RM30,000 per hectare. CIMB Securities projects weaker sequential earnings due to a lower average crude palm oil (CPO) price of RM4,319 per tonne in April 2025, compared to an average of RM4,723 per tonne in the first quarter of financial year 2025 (1QFY25). However, it noted that the downside is expected to be partly offset by higher fresh fruit bunch (FFB) output. Hap Seng recorded FFB production of 51,387 tonnes in April, representing an 8.8 per cent increase month-on-month and a 12.5 per cent rise year-on-year (YoY). "We believe the stock has re-rating potential, supported by its undervalued estates, a solid net cash position of RM585 million or 73 sen per share as of March 31, 2025, and projected dividend yields of 4.6 per cent to 5.5 per cent for FY25 to FY27, based on a 60 per cent payout ratio," the firm said in a note. CIMB Securities has re-evaluated its stance on Hap Seng Plantations following the release of the company's first quarter earnings. The company reported a core net profit of RM39 million for 1QFY25, representing a 60.5 per cent YoY increase but a 35.5 per cent quarter-on-quarter decline. "The results were broadly in line with our and consensus expectations, accounting for 29 per cent of our and 25 per cent of consensus full-year estimates. "The main disappointment was the 11 per cent YoY and 27 per cent QoQ drop in FFB output, attributed to wet weather across Hap Seng's estates, falling short of the FY25 target of 9.0 per cent FFB output growth," it added.
The Star
6 days ago
- Business
- The Star
IOI Corp sees higher FFB output in 2Q25
PETALING JAYA: IOI Corp Bhd is expecting higher fresh fruit bunch (FFB) production in second quarter 2025 (2CY25), due to improved weather conditions as well as the end of low production cycle. The plantation group said the expected production rise resulting in higher palm oil stock is likely to exert downward pressure on crude palm oil (CPO) price, although the resumption of demand from major buyers, following an earlier slowdown, and Indonesia's B40 biodiesel mandate are expected to provide key price support moving forward. Releasing its results for the third financial quarter (3Q25) ended March yesterday, IOI Corp saw net profit more than double year-on year (y-o-y) to RM262.3mil, underpinned by an 11.1% revenue growth to RM2.74bil. For the nine months ended March, the group posted a net profit of RM1.08bil, a 42.2% y-o-y jump, as turnover also grew by 18.6% to RM8.37bil. IOI Corp said the improved 3Q25 as well as cumulative results was primarily due to better contribution from its plantation segment, which benefitted from higher CPO and palm kernel prices realised, as well as higher share of associates results. Nevertheless, it said this was partially offset by higher CPO stock level, lower FFB production and lower oil extraction rate. The better performance saw earnings per share improve to 4.23 sen for 3Q25, and 17.47 sen for the nine months ended March 2025. Total dividends declared by IOI Corp stands at five sen per share, with the company not proposing any dividend for 3Q25 but having declared the aforementioned five sen in 2Q25. Separately, the group said the recent price correction has improved palm oil's competitiveness relative to other vegetable oils. 'Taking these factors into account, we project CPO price to range between RM3,700 and RM4,000 per tonne for the rest of our financial year ending June 30, 2025,' it said in a filing to Bursa Malaysia. Furthermore, the group said FFB production for 4Q25 is expected to recover significantly over 3Q25, while anticipating this higher FFB production will help sustain a steady financial performance, despite the lower CPO price expected for the quarter ending June. It added that the relatively high palm kernel oil price has kept sales volume and margins subdued for some time, but going forward, the recent decline in palm kernel oil price is expected to support improved sales volume and margins. 'Coupled with our continued focus on operational efficiency and cost optimisation, we anticipate to maintain our financial performance in the final quarter for the financial year ending June 2025,' said IOI Corp.
