First Foundation (NASDAQ: FFWM) reported Q3 EPS of $0.33, $0.08 better than the analyst estimate of $0.25. Revenue for the quarter came in at $54.8 million versus the consensus estimate of $49.69 million.

“We had a great quarter as evidenced by strong results across key metrics of our business,” said Scott F. Kavanaugh, CEO. “As we finalize the steps related to the remixing of our balance sheet, which included the securitization of $622 million in loans, we have already begun to experience early benefits and expect more to come in future quarters. Overall I am very pleased with where we stand as we enter the fourth quarter and 2019.”

2018 third quarter compared to 2017 third quarter:

• Net interest income was $43.7 million, an increase of 54%
• Total revenues were $54.8 million, an increase of 43%
• Income before taxes was $20.9 million as compared to $14.2 million
• Earnings were $14.7 million as compared to $9.6 million
• Earnings per fully diluted share were $0.33 as compared to $0.27

“We had another solid quarter at the bank,” said David DePillo, President of First Foundation Bank. “Loan originations were in line with the cyclicality expected in the third quarter and our deposit franchise continues to bring in new deposits across our branch, specialty, and wholesale channels.”

For earnings history and earnings-related data on First Foundation (FFWM) click here.