First Foundation Inc. (NYSE:FFWM) Q3 2022 Results Conference Call October 25, 2022 11:00 AM ET
Company Participants
Scott Kavanaugh - CEO and Vice Chairman
Kevin Thompson - Executive VP and CFO
David DePillo - President
Conference Call Participants
Matthew Clark - Piper Sandler
Gary Tenner - D.A. Division
Andrew Terrell - Stephens
David Feaster - Raymond James
Operator
Greetings, and welcome to First Foundation's Third Quarter 2022 Earnings Conference Call. Today's call is being recorded. At this time, all participants are placed in a listen-only mode and the floor will be open for your questions following the presentation. [Operator Instructions]
Speaking today will be Scott Kavanaugh, First Foundation's Chief Executive Officer; Kevin Thompson, Chief Financial Officer; and David DePillo, President. Before I hand the call over to Scott, please note that management will make certain predictive statements during today's call that reflect their current views and expectations about the company's performance and financial results.
These forward-looking statements are made subject to the safe harbor statement included in today's earnings release. In addition, some of the discussion may include non-GAAP financial measures. For a more complete discussion of the risks and uncertainties that could cause actual results could differ materially from any forward-looking statements and reconciliations of non-GAAP financial measures, see the company's filings with the Securities and Exchange Commission.
And now I would like to turn the call over to CEO, Scott Kavanaugh.
Scott Kavanaugh
Good morning, and welcome. Thank you for joining our third quarter 2022 earnings conference call. The results we reported this morning reflect the strength of our core businesses and the meaningful relationships that we have built with our clients. That said, there is no question the Fed's actions over the last 6 months have had a notable impact on the banking sector.
As against that backdrop that I am pleased to report our earnings for the third quarter were $29 million or $0.51 per share. Total revenues were $99.9 million for the quarter, a 5% increase for the second -- from the second quarter of 2022 and an 11% increase year-over-year. Our tangible book value per share ended the quarter higher at $15.96. We also declared and paid our third quarter cash dividend of $0.11 per share.
Our fundamentals remain strong with excellent credit quality. Our NIM for the quarter was 3.10% for the quarter. We continue to experience a steady pipeline across banking, wealth management and trust services. Our clients' success is our success, and we are grateful for the trust they continue to place in us.