First Foundation: 1Q Earnings Snapshot
First Foundation: 1Q Earnings Snapshot
IRVINE, Calif. (AP) _ First Foundation Inc. (FFWM) on Wednesday reported first-quarter earnings of $11.3 million.
The bank, based in Irvine, California, said it had earnings of 25 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 25 cents per share.
The wealth manager and commercial bank posted revenue of $69 million in the period. Its revenue net of interest expense was $49.5 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $50.8 million.
First Foundation shares have increased slightly more than 9 percent since the beginning of the year. The stock has dropped 23 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FFWM at https://www.zacks.com/ap/FFWM