First Foundation: 4Q Earnings Snapshot
IRVINE, Calif. (AP) _ First Foundation Inc. (FFWM) on Wednesday reported fourth-quarter net income of $14.1 million.
The Irvine, California-based bank said it had earnings of 31 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The wealth manager and commercial bank posted revenue of $66.1 million in the period. Its revenue net of interest expense was $50.1 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $51.6 million.
For the year, the company reported profit of $43 million, or $1.01 per share. Revenue was reported as $191.4 million.
First Foundation shares have climbed 13 percent since the beginning of the year. The stock has declined 24 percent in the last 12 months.