IRVINE, Calif. (AP) _ First Foundation Inc. (FFWM) on Tuesday reported fourth-quarter earnings of $15.2 million.
The bank, based in Irvine, California, said it had earnings of 34 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The wealth manager and commercial bank posted revenue of $72.5 million in the period. Its revenue net of interest expense was $54.1 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $52.8 million.
For the year, the company reported profit of $56.2 million, or $1.25 per share. Revenue was reported as $211.7 million.
First Foundation shares have fallen nearly 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.26, an increase of 12% in the last 12 months.