DALLAS — First Foundation Inc. (FFWM) on Tuesday reported second-quarter profit of $26.1 million.
The bank, based in Dallas, said it had earnings of 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The wealth manager and commercial bank posted revenue of $75.4 million in the period. Its revenue net of interest expense was $71.9 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $67.8 million.
First Foundation shares have increased 11% since the beginning of the year. The stock has climbed 37% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FFWM at https://www.zacks.com/ap/FFWM