AP NEWS

First Foundation: 3Q Earnings Snapshot

October 23, 2019 GMT

IRVINE, Calif. (AP) _ First Foundation Inc. (FFWM) on Tuesday reported third-quarter net income of $17.4 million.

The bank, based in Irvine, California, said it had earnings of 39 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The wealth manager and commercial bank posted revenue of $76.6 million in the period. Its revenue net of interest expense was $57.1 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $56.8 million.

First Foundation shares have increased 21% since the beginning of the year. The stock has climbed almost 10% in the last 12 months.

_____

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