IRVING, Texas (AP) — IRVING, Texas (AP) — First Foundation Inc. (FFWM) on Thursday reported a loss of $8 million in its fourth quarter.
The Irving, Texas-based bank said it had a loss of 10 cents per share. Losses, adjusted for one-time gains and costs, were 4 cents per share.
The wealth manager and commercial bank posted revenue of $136.3 million in the period. Its revenue net of interest expense was $48.4 million, falling short of Street forecasts.
For the year, the company reported profit of $155.2 million, or $1.88 per share. Revenue was reported as $234.8 million.
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