DALLAS (AP) — DALLAS (AP) — First Foundation Inc. (FFWM) on Thursday reported a loss of $14.1 million in its fourth quarter.
The bank, based in Dallas, said it had a loss of 17 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The wealth manager and commercial bank posted revenue of $165.8 million in the period. Its revenue net of interest expense was $64.7 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $65.2 million.
For the year, the company reported profit of $92.4 million, or $1.41 per share. Revenue was reported as $170 million.
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