First Western Financial Inc

First Western Financial, Inc. operates as a financial holding company, which engages in the provision of wealth managements services. It operates through the following business segments: Wealth Management, Capital Management, and Mortgage. The Wealth Management segment consists of operations relating to its fully integrated wealth management business. The Capital Management segment includes operations relating to its institutional investment management services over proprietary fixed income, high yield and equity strategies, including acting as the advisor of three owned, managed and rated proprietary mutual funds. The Mortgage segment consists of operations relating to the origination and sale of residential mortgage loans. The company was founded by Scott C. Wylie and Warren Joseph Olsen in 2002 and is headquartered in Denver, CO.

Earnings data Q2 2021

Earnings data Q3 2021

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Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

First Western Financial reports stable Q1 earnings, eyes expansion in new markets

First Western Financial's Q1 performance reflects stability amid industry challenges, with a focus on prudent risk management and disciplined expense control. The bank is cautious about share buybacks and M&A, prioritizing capital preservation and improving earnings through margin, fees, and expense management.

MYFW reports mixed Q2 performance, eyes promising loan demand

MYFW reported a mixed performance with strong asset quality but declines in revenue and non-interest income. The company is focused on conservative underwriting and expense management, while also eyeing opportunities in loan demand and long-term value creation. Challenges include declining net interest income and margin, as well as optimizing asset yields in the face of flat liability costs.

MYFW reports strong Q3 earnings, prioritizes capital base for growth

MYFW reported strong financial performance with notable increases in net income and pretax pre-provision income. Despite challenges in revenue and nonperforming assets, the company remains confident in its ability to collect on the nonaccrual loans and expects to continue its history of near-zero loan losses. The company is prioritizing a strong capital base for long-term shareholder value creation and actively seeking opportunities for growth.

First Western Financial reports strong deposit and loan growth

First Western Financial's Q4 2023 performance showcased strong deposit and loan growth, while also highlighting challenges in revenue and mortgage production outlook. The company's disciplined expense control and focus on client relationships position it for potential opportunities in the housing market and M&A activities.

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First Western Financial, Inc. (NASDAQ:MYFW ) Q1 2024 Earnings Conference Call April 19, 2024 12:00 PM ET Company Participants Tony Rossi – Financial Profiles Scott Wylie – Chairman and Chief Executive Officer Julie Courkamp – Chief Operating Officer David Weber – Chief Financial Officer Conference Call Participants Brett Rabatin – Hovde Group Brady Gailey – KBW Adam Butler – Piper Sandler Operator Good day and thank you for standing by and welcome to the First Western Financial First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

First Western Financial, Inc. (MYFW) Q1 2024 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.39 per share a year ago.

First Western (MYFW) Q1 Earnings and Revenues Beat Estimates

First Quarter 2024 Summary Net income available to common shareholders of $2.5 million in Q1 2024, compared to a Net loss of $3.2 million in Q4 2023. Diluted earnings/(loss) per share of $0.26 in Q1 2024, compared to $(0.34) in Q4 2023 Non-interest income increased 19.7% to $7.3 million compared to $6.1 million in Q4 2023 and 25.3% compared to $5.8 million in Q1 2023 Loan to deposit ratio decreased to 98.4% in Q1 2024, compared to 100.6% in Q4 2023 Book value per common share increased 0.8% from $25.33 in Q4 2023 to $25.52 in Q1 2024.

First Western Reports First Quarter 2024 Financial Results

First Western (MYFW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: First Western (MYFW) Q1 Earnings Expected to Decline

DENVER, April 05, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2024 after the markets close on Thursday, April 18, 2024.

First Western Financial, Inc. to Report First Quarter 2024 Financial Results on Thursday, April 18

First Western Financial Inc. (MYFW) Q4 2023 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.58 per share a year ago.

First Western (MYFW) Lags Q4 Earnings and Revenue Estimates

Fourth Quarter 2023 Summary Total deposits increased to $2.53 billion, or 4.5%, from $2.42 billion as of Q3 2023 Loan to deposit ratio improved to 100.7% in Q4 2023, compared to 105.1% in Q3 2023 Net income available to common shareholders of $0.3 million in Q4 2023, compared to $3.1 million in Q3 2023 and pre-tax, pre-provision net income (1) of $4.1 million in Q4 2023, compared to $4.6 million in Q3 2023 Diluted EPS of $0.03 in Q4 2023, compared to $0.32 in Q3 2023 Total capital to risk-weighted assets ratio of 12.82% in Q4 2023, compared to 12.45% in Q3 2023 DENVER, Jan. 25, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the fourth quarter ended December 31, 2023. Net income available to common shareholders was $0.3 million, or $0.03 per diluted share, for the fourth quarter of 2023.

First Western Reports Fourth Quarter 2023 Financial Results

DENVER, Jan. 05, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its fourth quarter ended December 31, 2023 after the markets close on Thursday, January 25, 2024.

First Western Financial, Inc. to Report Fourth Quarter 2023 Financial Results on Thursday, January 25

First Western Financial Inc. (MYFW) Q3 2023 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.66 per share a year ago.

First Western (MYFW) Q3 Earnings and Revenues Lag Estimates

Third Quarter 2023 Summary Net revenue increased $2.0 million, or 9.6%, to $22.5 million in Q3 2023, compared to $20.6 million in Q2 2023 Net income available to common shareholders of $3.1 million in Q3 2023 , compared to $1.5 million in Q2 2023 and $6.2 million in Q3 2022 Diluted EPS of $0.32 in Q3 2023, compared to $0.16 in Q2 2023 and $0.64 in Q3 2022 Book value per common share increased to $25.76 , or 1.5% , from $25.38 as of Q2 2023, and was up 4.1% from $24.74 as of Q3 2022 Total deposits increased to $2.42 billion , or 1.9% , from $2.38 billion as of Q2 2023, and were up 11.7% from $2.17 billion as of Q3 2022 DENVER, Oct. 19, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the third quarter ended September 30, 2023. Net income available to common shareholders was $3.1 million, or $0.32 per diluted share, for the third quarter of 2023.

First Western Reports Third Quarter 2023 Financial Results

Earnings Preview: First Western (MYFW) Q3 Earnings Expected to Decline

DENVER, Oct. 06, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its third quarter ended September 30, 2023 after the markets close on Thursday, October 19, 2023.

First Western Financial, Inc. to Report Third Quarter 2023 Financial Results on Thursday, October 19

The new location will offer personalized private banking, commercial banking, and trust and investment services to the Bozeman community. BOZEMAN, MT / ACCESSWIRE / October 2, 2023 / Last week, First Western Financial, Inc. (NASDAQ:MYFW) announced the grand opening of its new First Western Trust Bank Bozeman full-service office at 211 E.

First Western Trust Opened New Office Location in Bozeman, Montana

First Western Financial Inc. (MYFW) Q2 2023 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.49 per share a year ago.

First Western (MYFW) Lags Q2 Earnings and Revenue Estimates

Second Quarter 2023 Summary Total assets of $3.0 billion and assets under management of $6.5 billion Net income available to common shareholders of $1.5 million in Q2 2023 , compared to $3.8 million in Q1 2023 and $4.5 million in Q2 2022 Diluted EPS of $0.16 in Q2 2023 , compared to $0.39 in Q1 2023 and $0.46 in Q2 2022 Second quarter 2023 included net of tax impacts of $1.5 million related to an allowance recorded on individually analyzed loans, $0.9 million of impairment to the carrying value of contingent consideration assets, and $0.8 million of losses on loans accounted for under the fair value option, with diluted EPS impacts, net of tax, of $0.15, $0.09, and $0.08, respectively Book value per common share increased to $25.38 , or 0.6% , from $25.22 as of Q1 2023, and was up 5.5% from $24.06 as of Q2 2022 Total deposits decreased slightly to $2.38 billion , or 0.7% , from $2.39 billion as of Q1 2023, and were up 9.5% from $2.17 billion as of Q2 2022 DENVER, July 27, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the second quarter ended June 30, 2023. Net income available to common shareholders was $1.5 million, or $0.16 per diluted share, for the second quarter of 2023.

First Western Reports Second Quarter 2023 Financial Results

Earnings Preview: First Western (MYFW) Q2 Earnings Expected to Decline

DENVER, July 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its second quarter ended June 30, 2023 after the markets close on Thursday, July 27, 2023.

First Western Financial, Inc. to Report Second Quarter 2023 Financial Results on Thursday, July 27

The consensus price target hints at a 36.2% upside potential for First Western (MYFW). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Predict a 36.18% Upside in First Western (MYFW): Here's What You Should Know

First Western Financial Inc. (NASDAQ:MYFW ) Q1 2023 Results Conference Call April 28, 2023 12:00 PM ET Company Participants Tony Rossi - Managing Director, Financial Profiles Scott Wylie - Chairman and Chief Executive Officer Julie Courkamp - Chief Financial Officer and Chief Operating Officer Conference Call Participants Brett Rabatin - Hovde Matthew Clark - Piper Sandler Brady Gailey - KBW Ross Haberman - RLH Investment Operator Good day and thank you for standing. Welcome to First Western Financial First Quarter 2023 Earnings Conference Call.

First Western Financial Inc. (MYFW) Q1 2023 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.61 per share a year ago.

First Western (MYFW) Misses Q1 Earnings and Revenue Estimates

First Quarter 2023 Summary Net income available to common shareholders of $3.8 million in Q1 2023 , compared to $5.5 million in Q4 2022 and $5.5 million in Q1 2022 Diluted EPS of $0.39 in Q1 2023 , compared to $0.56 in Q4 2022 and $0.57 in Q1 2022 Book value per common share decreased slightly to $25.22, or 0.6%, from $25.37 as of Q4 2022, which included a $0.56 per share decrease as a result of the adoption of CECL on January 1, 2023. Book value per commons share was up 6.5% from $23.68 as of Q1 2022 $1.5 billion of readily available liquidity funding sources as of Q1 2023 Total deposits decreased slightly to $2.39 billion, or 0.6%, from $2.41 billion as of Q4 2022, and were up 5.3% from $2.27 billion as of Q1 2022 DENVER, April 27, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the first quarter ended March 31, 2023.

First Western Reports First Quarter 2023 Financial Results

DENVER, April 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2023 after the markets close on Thursday, April 27, 2023.

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