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First Foundation (FFWM)
NYSE:FFWM
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.02Last Year’s EPS
0.02Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 30, 2025
|% Change Since: -17.41%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. On the positive side, there was successful execution of a multifamily loan securitization and an improvement in net interest margin. Additionally, the wealth and trust business remained stable. However, the company faced challenges with increased provisions for credit losses, higher non-interest expenses, and the first loss in the multifamily portfolio. While there are clear areas of progress, the significant challenges offset the positive developments.Company Guidance
During the Fourth Quarter 2024 Earnings Conference Call, First Foundation's CEO, Thomas C. Shafer, and CFO, Jamie Britton, provided several key metrics and insights into the company's performance and strategic initiatives. The company successfully executed a $489 million multifamily loan securitization in December, selling loans above 95% of face value, contributing to a modest improvement in net interest margin, which increased from 1.5% in Q3 to 1.58% in Q4. Proceeds from these sales were used to pay down high-cost broker deposits, with plans to further reduce the $1.4 billion in multifamily loans held for sale on the balance sheet. The allowance for credit losses (ACL) increased to 41 basis points, up from 36 basis points in the prior quarter, reflecting a $17.1 million in net charge-offs, primarily from three longstanding commercial relationships. Moreover, the company noted a 19 basis point decline in interest-bearing liability costs to 4.05%, which contributed positively to net interest income, despite a decrease in overall loan yields from 4.75% in Q3 to 4.68% in Q4. Looking ahead, First Foundation is focused on diversifying its loan portfolio, reducing commercial real estate concentration, and expanding its wealth and trust business as stable sources of fee income.Successful Multifamily Loan Securitization
Executed a $489 million multifamily loan securitization in early December, achieving a price above 95, which was a premium compared to the portfolio's marks at the end of both the third and fourth quarters.
Net Interest Margin Improvement
Net interest margin increased from 1.5% in the third quarter to 1.58% in the fourth quarter, marking a 41 basis point improvement from the year's low point in the first quarter.
Wealth and Trust Business Stability
Continued success of the wealth and trust business, which remained stable sources of fee income during the fourth quarter.
Reduction in Interest Bearing Liability Costs
Interest bearing liability costs decreased to 4.05%, benefiting from the Fed's rate cuts, which was 19 basis points below the third quarter's 4.24%.
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FFWM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FFWM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 30, 2025 | $6.26 | $5.46 | -12.78% |
| Oct 29, 2024 | $7.77 | $7.23 | -6.95% |
| Jul 25, 2024 | $6.71 | $7.05 | +5.07% |
| Apr 25, 2024 | $7.04 | $6.69 | -4.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Foundation (FFWM) report earnings?
First Foundation (FFWM) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is First Foundation (FFWM) earnings time?
First Foundation (FFWM) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FFWM EPS forecast?
FFWM EPS forecast for the fiscal quarter 2025 (Q1) is 0.02.
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