DALLAS (AP) — DALLAS (AP) — First Foundation Inc. (FFWM) on Wednesday reported first-quarter net income of $6.9 million.
The bank, based in Dallas, said it had earnings of 8 cents per share. Earnings, adjusted for non-recurring costs, were 9 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The wealth manager and commercial bank posted revenue of $161.3 million in the period. Its revenue net of interest expense was $71.4 million, also surpassing Street forecasts.
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