First Foundation: Fourth Quarter Earnings Overview

First Foundation Inc. Reports $8 Million Fourth-Quarter Loss

First Foundation Inc., headquartered in Irving, Texas, announced on Thursday that it experienced an $8 million loss during the fourth quarter.

The financial institution reported a net loss of 10 cents per share for the quarter. After accounting for nonrecurring items, the adjusted loss was 4 cents per share.

During this period, the bank and wealth management firm generated $136.3 million in total revenue. However, after subtracting interest expenses, net revenue stood at $48.4 million, which did not meet analysts’ expectations.

Looking at the full year, First Foundation Inc. achieved a net income of $155.2 million, translating to $1.88 per share, with total revenue reaching $234.8 million.