Call Start: 11:00 January 1, 0000 11:52 AM ET
First Foundation Inc. (NYSE:FFWM)
Q1 2022 Earnings Conference Call
April 26, 2022, 11:00 AM ET
Company Participants
Scott Kavanaugh – Chief Executive Officer
Kevin Thompson – Chief Financial Officer
David DePillo – President
Conference Call Participants
David Feaster – Raymond James
Matthew Clark – Piper Sandler
Steve Moss – B. Riley Securities
Gary Tenner – D.A. Davidson
Andrew Taro – Stephens
Operator
Greetings and welcome to the First Foundation's First Quarter 2022 Earnings Conference Call. Today's call is being recorded. At this time, all participants have been placed in a listen-only mode and the floor will be open for 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, including 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 to differ materially from any forward-looking statements and the 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 Scott Kavanaugh.
Scott Kavanaugh
Hello. And thank you for joining us. We would like to welcome all of you to our First Quarter 2022 Earnings Conference Call. We will be providing some prepared comments regarding our activities, and then we will respond to questions. Let me start by saying a few words about how proud I am of everyone at First Foundation. The results we reported today are a testament to the hard work from everyone in our organization. The past few years has posed some interesting challenges for everyone and yet we continue to generate strong, sustainable results quarter after quarter.
This was another great quarter for First Foundation and a fantastic start to the year. Our earnings for the first quarter were $30.8 million or $0.55 per share. This represents 38% increase over the first quarter of 2021. Total revenues were $89.9 million for the quarter, 36% increase from the first quarter of 2021. Tangible book value per share ended the quarter higher at $15.21. We declared and paid our first quarter cash dividend of $0.11 per share, which we increased last quarter. We also received authorization from our Board of Directors to purchase up to $75 million of our company's stock.