First Foundation: 2Q Earnings Snapshot
Posted July 21, 2020 6:13 am.
Last Updated July 21, 2020 6:18 am.
This article is more than 5 years old.
IRVINE, Calif. (AP) _ First Foundation Inc. (FFWM) on Tuesday reported second-quarter earnings of $17.9 million.
The Irvine, California-based bank said it had earnings of 40 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The wealth manager and commercial bank posted revenue of $70.9 million in the period. Its revenue net of interest expense was $57.4 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $56.7 million.
First Foundation shares have decreased 14% since the beginning of the year. The stock has increased 8% 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
The Associated Press
