First Foundation (FFWM) Tops Q4 EPS by 1c, Beats on Revenues

First Foundation (NASDAQ: FFWM) reported Q4 EPS of $0.25, $0.01 better than the analyst estimate of $0.24. Revenue for the quarter came in at $42.6 million versus the consensus estimate of $41.47 million.

• Earnings per share of $0.06 for the fourth quarter of 2017 and $0.78 for the full year
• Non-GAAP fully diluted earnings per share of $0.25 for the fourth quarter of 2017
• Revenue growth of 23% in 2017
• Loan growth of 36% and deposit growth of 42% in 2017

Financial Results:

2017 compared to 2016:

• Total revenues were $152.3 million, an increase of 23%
• Net interest income was $113.6 million, an increase of 27%
• Income before taxes was $50.6 million, an increase of 32%
• Earnings were $27.6 million, an increase of 18%
• Earnings per fully diluted share were $0.78, compared to $0.70 in 2016

2017 fourth quarter compared to 2016 fourth quarter:

• Total revenues were $42.6 million, an increase of 31%
• Net interest income was $31.2 million, an increase of 25%
• Income before taxes was $13.0 million, an increase of 23%
• Earnings were $2.3 million
• Earnings per fully diluted share were $0.06

2017 Financial ratios:

• Return on average equity of 8.5% for 2017
• Return on average assets of 0.70% for 2017
• Efficiency ratio of 61.1% for the fourth quarter and 63.3% for the full year

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

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