First foundation inc. (FFWM)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Interest income:
Loans

54,884

54,123

56,483

56,510

53,835

50,360

53,345

43,535

38,971

33,998

31,236

29,982

26,491

23,718

22,231

20,961

18,170

16,384

15,634

13,362

12,101

12,405

11,404

10,227

10,104

9,807

9,108

10,084

8,919

Securities

6,997

7,304

5,349

6,186

6,165

6,279

3,579

3,575

3,422

3,227

3,023

3,126

3,031

3,358

3,202

3,100

3,121

2,483

1,107

822

815

804

799

550

392

384

304

153

23

FHLB stock, fed funds sold and interest-bearing deposits

457

867

782

612

544

803

1,123

1,388

926

686

619

544

838

1,291

571

512

407

345

367

809

242

199

181

154

179

112

112

113

62

Total interest income

62,338

62,294

62,614

63,308

60,544

57,442

58,047

48,498

43,319

37,911

34,878

33,652

30,360

28,367

26,004

24,573

21,698

19,212

17,108

14,993

13,158

13,408

12,384

10,931

10,675

10,303

9,524

10,350

9,004

Interest expense:
Deposits

14,646

15,763

16,675

16,296

15,448

13,378

11,442

8,084

5,872

5,340

4,899

4,012

3,192

2,722

2,426

1,973

1,795

1,520

1,328

1,115

923

991

953

838

804

839

781

765

782

Borrowings

2,824

2,643

2,807

5,125

4,049

2,699

2,879

4,163

3,179

1,346

1,539

1,745

1,110

641

415

679

542

258

319

454

364

316

284

277

121

108

105

97

30

Total interest expense

17,470

18,406

19,482

21,421

19,497

16,077

14,321

12,247

9,051

6,686

6,438

5,757

4,302

3,363

2,841

2,652

2,337

1,778

1,647

1,569

1,287

1,307

1,237

1,115

925

947

886

862

812

Net interest income

44,868

43,888

43,132

41,887

41,047

41,365

43,726

36,251

34,268

31,225

28,440

27,895

26,058

25,004

23,163

21,921

19,361

17,434

15,461

13,424

11,871

12,101

11,147

9,816

9,750

9,356

8,638

9,488

8,192

Provision for credit losses

4,100

-

-

-

540

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for loan losses

-

-

172

1,231

-

73

9

2,450

1,688

900

701

1,092

69

1,800

1,231

1,250

400

1,200

570

753

150

0

0

0

235

642

445

686

622

Net interest income after provision for credit losses

40,789

43,194

42,960

40,656

40,507

41,292

43,717

33,801

32,580

30,325

27,739

26,803

25,989

23,204

21,932

20,671

18,961

16,234

14,891

12,671

11,721

12,101

11,147

9,816

9,515

8,714

8,193

8,802

7,570

Noninterest income:
Revenue from contract with customers

7,762

7,424

7,304

7,136

6,794

7,251

7,228

7,088

7,181

-

-

-

6,215

6,257

6,141

5,985

6,001

5,844

5,870

5,922

5,850

5,248

6,309

5,202

5,039

4,732

4,597

4,625

4,286

Gain on sale of loans

-

-

4,218

-

-

0

1,364

-1,490

545

2,717

1,962

2,050

300

574

7,238

0

0

-

205

-

-

-

-

-

-

-

-

-

-

Loss on capital market activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

997

-2,351

311

-

-2

-15

-

-

-

-

-

-

-

-

-

Gain on sale of REO

-

-

-

-

-

-

-

-

-

-

-

-

104

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

2,913

2,774

2,460

1,995

1,671

1,450

2,512

1,386

1,256

1,725

1,001

1,090

1,164

755

703

1,276

673

690

795

513

354

797

428

1,214

512

261

491

585

247

Total noninterest income

10,675

10,198

13,982

9,131

8,465

8,701

11,104

6,984

8,982

11,376

9,863

9,697

7,783

7,586

15,079

4,910

6,985

9,281

6,868

6,420

6,204

6,045

6,737

6,416

5,551

4,993

5,088

5,210

4,533

Noninterest expense:
Compensation and benefits

19,857

16,531

17,167

17,333

18,902

16,117

17,577

16,645

17,169

13,703

14,117

13,983

14,755

11,867

12,059

11,924

12,724

11,016

10,870

9,390

9,180

8,272

8,764

8,034

8,480

7,323

7,172

7,013

7,252

Occupancy and depreciation

5,512

5,420

5,450

5,167

4,868

5,255

5,590

4,763

4,171

4,302

3,801

3,879

3,414

3,195

3,072

2,896

2,815

2,774

2,561

1,968

1,957

1,826

1,867

1,804

1,828

1,844

1,870

1,519

1,323

Professional services and marketing costs

1,754

1,644

1,745

2,024

2,004

2,003

2,271

1,820

2,489

2,572

1,479

207

3,429

2,017

3,525

2,560

1,723

1,439

1,481

1,512

1,058

1,455

1,192

2,099

1,249

990

982

986

1,045

Customer service costs

2,372

4,266

5,920

4,283

3,389

3,628

4,854

3,824

2,771

2,800

2,229

1,319

693

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses

3,362

3,812

2,412

3,475

3,782

3,135

3,675

6,930

2,388

5,284

1,767

2,825

2,418

1,433

2,880

2,470

2,155

1,941

2,044

1,104

1,163

1,442

1,272

1,934

989

1,106

914

1,507

776

Total noninterest expense

32,857

31,673

32,694

32,282

32,945

30,138

33,967

33,982

28,988

28,661

23,393

22,213

24,709

20,191

21,536

19,850

19,417

17,170

16,956

13,974

13,358

12,995

13,095

13,871

12,546

11,263

10,938

11,025

10,396

Income before taxes on income

18,607

21,719

24,248

17,505

16,027

19,855

20,854

6,803

12,574

13,040

14,209

14,287

9,063

10,599

15,475

5,731

6,529

8,345

4,803

5,117

4,567

5,151

4,789

2,361

2,520

2,444

2,343

2,987

1,707

Taxes on income

5,396

6,505

6,892

5,095

4,768

5,726

6,147

1,657

3,598

10,767

4,629

4,671

2,950

4,051

6,417

1,821

2,742

3,297

2,041

2,175

1,941

2,145

2,130

1,094

1,058

-1,044

890

1,135

649

Net income

13,211

15,214

17,356

12,410

11,259

14,129

14,707

5,146

8,976

2,273

9,580

9,616

6,113

6,548

9,058

3,910

3,787

5,048

2,762

2,942

2,626

3,006

2,659

1,267

1,462

3,488

1,453

1,852

1,058

Net income per share:
Basic

0.30

0.34

0.39

0.28

0.25

0.33

0.33

0.13

0.23

0.04

0.28

0.29

0.19

0.20

0.28

0.12

0.12

-0.31

0.22

0.36

0.33

-0.15

0.34

0.16

0.19

0.47

0.20

0.25

0.14

Diluted

0.29

0.33

0.39

0.28

0.25

0.33

0.33

0.12

0.23

0.05

0.27

0.28

0.18

0.20

0.27

0.12

0.11

-0.30

0.21

0.35

0.32

-0.15

0.32

0.16

0.18

0.44

0.19

0.24

0.14

Shares used in computation:
Basic

44,669

44,663

44,639

44,625

44,540

44,567

44,405

40,820

38,577

36,935

34,565

33,623

32,805

32,673

32,514

32,269

32,006

60,690

12,623

8,070

7,855

38,693

7,735

7,734

7,733

7,491

7,414

7,414

7,376

Diluted

44,952

45,016

44,935

44,894

44,798

44,959

44,852

41,332

39,124

37,539

35,259

34,564

33,961

33,792

33,575

33,349

33,169

62,871

13,074

8,449

8,211

40,850

8,240

8,145

8,094

7,846

7,756

7,752

7,613