First Foundation (FFWM) Reports Q3 Earnings: What Key Metrics Have to Say

Core Viewpoint - First Foundation (FFWM) reported a revenue of $61.06 million for Q3 2024, reflecting a year-over-year decline of 4.3$0.04 compared to $0.05 a year ago, indicating a significant EPS surprise of +113.79$0.29 [1]. Financial Performance Metrics - Efficiency Ratio (non-GAAP) was reported at 98.1%, slightly above the average estimate of 97.2% from three analysts [3]. - Average Balances of total interest-earning assets reached $13.20 billion, exceeding the three-analyst average estimate of$13.01 billion [3]. - Net charge-offs to average loans were reported at 0%, matching the average estimate of 0% from three analysts [3]. - Net Interest Margin stood at 1.5%, consistent with the average estimate from three analysts [3]. - Total nonperforming assets amounted to $44.40 million, significantly higher than the two-analyst average estimate of$27.24 million [3]. - Net interest income was reported at $49.12 million, slightly above the average estimate of$48.68 million from three analysts [3]. - Total Noninterest income reached $11.94 million, marginally exceeding the average estimate of$11.91 million from three analysts [3]. - Asset management, consulting, and other fees were reported at $9.16 million, above the two-analyst average estimate of$9.09 million [3]. - Other income was $2.79 million, surpassing the two-analyst average estimate of$2.57 million [3]. Stock Performance - Shares of First Foundation have increased by +24.5% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of +1.7% [4]. - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [4].