Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-38595 ______________ ...

Financial Data and Key Metrics Changes - The company generated net income of $2,500,000 or $0.26 diluted share in Q2 2025, which was lower than the prior quarter due to one-time gains in Q1 and a higher provision recorded due to strong loan growth [6][7] - Pre-provision net revenue increased during the quarter, amounting to approximately $5,100,000, down slightly from Q1 but up about 36% year over year [8] - Tangible book value per share increased by about 1% this quarter [8] Business Line Data and Key Metrics Changes - Loans held for investment increased by $114,000,000 from the end of the prior quarter, with new loan production of $167,000,000 in Q2 [9][10] - Average rate on new loan production was 6.35%, or 6.67% excluding loans secured by trust and investment management assets [10] - Total deposits were slightly up from the end of the prior quarter, with a decline in non-interest bearing deposits offset by an increase in interest-bearing deposits [10][11] - Assets under management increased by $320,000,000 in Q2, driven largely by favorable market performance, with a nearly 7% increase over the past year [11][12] Market Data and Key Metrics Changes - The market remains competitive in terms of pricing on loans and deposits, but the company successfully generated new loans and deposits by offering superior service rather than competing on rates [5] - The company expects deposit balances to build back up over the second half of the year following typical seasonal outflows related to tax payments [11] Company Strategy and Development Direction - The company maintains a conservative approach to new loan production with disciplined underwriting and pricing criteria, while also focusing on expense control despite inflationary pressures [5][6] - There is a focus on enhancing trust and investment management services, with new leadership brought in to drive growth in this area [34][36] Management's Comments on Operating Environment and Future Outlook - Management noted healthy economic conditions in their markets, with strong loan and deposit pipelines expected to result in solid balance sheet growth for the second half of the year [16] - Positive trends in net interest margin, net interest income, and fee income are anticipated, with no indications of meaningful deterioration in asset quality [16][17] Other Important Information - The company successfully lowered deposit costs and redeployed cash from the sale of two OREO properties into new loan production and securities purchases, contributing to the expansion in net interest margin [6][13] - Non-interest income decreased by approximately $1,000,000 from the prior quarter due to one-time gains recorded in Q1, partially offset by an increase in gains on the sale of mortgage loans [13][14] Q&A Session Summary Question: Borrowings at the end of the quarter - Management confirmed that borrowings were overnight with a mid-four percent rate, and they plan to pay them off as deposits come in during Q3 [21] Question: Cost of interest-bearing deposits - The spot rate at June was 3.07%, with expectations for continued repricing down on the CD portfolio and a relatively flat NIM in Q3, expanding in Q4 [23] Question: Expense run rate - Management expects the expense run rate to remain in the range of $19.5 million to $20 million for the back half of the year [25] Question: NIM outlook sensitivity to rate cuts - Management indicated that a 25 basis point reduction would impact net interest income by about $1 million, with some sensitivity taken off the balance sheet [29] Question: Trust fees and profitability - Management emphasized the importance of building trust fees and noted that new leadership is focused on growth in this area, with expectations for positive results going forward [34][36] Question: Customer mindset and loan growth - Management observed a shift from caution to increased demand and larger pipelines, indicating a more confident client base [55]

Financial Performance - Net income available to common shareholders was $2.5 million, resulting in diluted earnings per share of $0.26 in 2Q25[12, 13] - Net interest income increased by $0.4 million, a 2.3% increase, from $17.5 million in 1Q25 to $17.9 million in 2Q25[10, 43] - Total assets under management increased by $320 million, a 4.5% increase, during the quarter to $7.50 billion[34] Loan Portfolio - Total loans held for investment increased by $114.4 million from the prior quarter due to strong loan production[24] - New loan production in 2Q25 reached $166.9 million, with a focus on relationship-based lending[24] - Total loans reached $2.57 billion[18] Deposits - Total deposits increased by 0.4% from $2.52 billion in 1Q25 to $2.53 billion in 2Q25[29] - Noninterest-bearing deposits decreased by 11.7% from $410 million in 1Q25 to $362 million in 2Q25, primarily due to seasonal outflows[29] Expenses and Efficiency - Non-interest expense decreased to $19.1 million from $19.4 million in 1Q25, driven by a decrease in salaries and employee benefits expense[53] - The efficiency ratio improved from 79.16% in 1Q25 to 78.83% in 2Q25[53] Asset Quality - ACL/Total Loans increased from 0.74% in 1Q25 to 0.75% in 2Q25[57]

First Western (MYFW) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this company would post earnings of $0.23 per share when it actually produced earnings of $0.43, delivering a surprise of +86.96%.Over the last four quarters, the company ...

Financial Performance - Net income available to common shareholders for Q2 2025 was $2.5 million, or $0.26 per diluted share, a decrease from $4.2 million, or $0.43 per diluted share in Q1 2025, but an increase from $1.1 million, or $0.11 per diluted share in Q2 2024 [2][6]. - Total income before non-interest expense was $22.4 million for Q2 2025, a decrease of 9.3% from $24.7 million in Q1 2025, but an increase of 9.8% from $20.4 million in Q2 2024 [8]. - Net interest income increased to $17.9 million in Q2 2025, up 2.3% from $17.5 million in Q1 2025 and up 13.3% from $15.8 million in Q2 2024 [12][6]. Loan and Deposit Growth - Total loans increased by $115 million, or 4.7%, from $2.43 billion in Q1 2025 to $2.54 billion in Q2 2025 [6][20]. - Total deposits were $2.53 billion as of June 30, 2025, an increase of 0.4% from $2.52 billion in Q1 2025 and an increase from $2.41 billion in Q2 2024 [21]. Net Interest Margin and Efficiency - Net interest margin increased by 6 basis points to 2.67% in Q2 2025 from 2.61% in Q1 2025, and increased by 32 basis points from 2.35% in Q2 2024 [10][11]. - The efficiency ratio improved to 78.83% in Q2 2025 from 79.16% in Q1 2025 and 82.25% in Q2 2024 [17]. Credit Quality - Non-performing assets totaled $18.8 million, or 0.62% of total assets, as of June 30, 2025, compared to $17.1 million, or 0.59% of total assets in Q1 2025, and a decrease from $49.3 million, or 1.68% of total assets in Q2 2024 [26]. - Non-performing loans increased to $14.4 million as of June 30, 2025, from $12.8 million in Q1 2025, but decreased from $37.9 million in Q2 2024 [27]. Capital Position - As of June 30, 2025, the Company exceeded minimum capital levels required by regulators, with a Tier 1 capital to risk-weighted assets ratio of 9.96% [29]. - Book value per common share increased by 0.8% from $26.44 in Q1 2025 to $26.64 in Q2 2025, and increased by 4.3% from $25.55 in Q2 2024 [30].

First Western Reports Second Quarter 2025 Financial Results Second Quarter 2025 Summary Denver, Colo., July 24, 2025 – First Western Financial, Inc. ("First Western" or the "Company") (NASDAQ: MYFW), today reported financial results for the second quarter ended June 30, 2025. Net income available to common shareholders was $2.5 million, or $0.26 per diluted share, for the second quarter of 2025. This compares to net income of $4.2 million, or $0.43 per diluted share, for the first quarter of 2025, and net i ...

Company Overview - First Western Financial, Inc. is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana [5] - The company provides a fully integrated suite of wealth management services on a private trust bank platform, including deposit, loan, trust, wealth planning, and investment management products and services [5] - First Western's common stock is traded on the NASDAQ Global Select Market under the symbol "MYFW" [5] Upcoming Financial Results - First Western will release its financial results for the second quarter ended June 30, 2025, after the markets close on Thursday, July 24, 2025 [1] - A conference call will be held on Friday, July 25, 2025, at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time to discuss the financial results [2] - The conference call will be webcast live on the News & Events page of First Western's investor relations website, with an archived version available shortly after the live call [4]

Group 1 - First Western Financial, Inc. (MYFW) has recently experienced a "golden cross" event, indicating a potential bullish breakout as its 50-day simple moving average has crossed above its 200-day simple moving average [1][2] - The stock has shown a significant upward movement of 23.9% over the past four weeks, suggesting strong momentum [4] - MYFW is currently rated as a 1 (Strong Buy) on the Zacks Rank, indicating positive sentiment among analysts [4] Group 2 - The golden cross pattern consists of three stages: a downtrend followed by a crossover of the shorter moving average over the longer one, and finally an upward price movement [3] - Recent earnings expectations for MYFW have improved, with one upward revision and no downward changes in the last 60 days, further supporting the bullish outlook [4][5] - The combination of positive earnings estimate revisions and the technical breakout suggests that MYFW may continue to see gains in the near future [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-38595 _________________________________________ FIRST WESTERN FINANCIAL, INC. (Exact name of registrant as specified in its charter) __________________________ ...

Core Viewpoint - First Western (MYFW) is experiencing solid improvement in earnings estimates, which is likely to positively impact its stock price momentum [1][2]. Earnings Estimates - Analysts are increasingly optimistic about First Western's earnings prospects, leading to higher estimates that correlate with stock price movements [2]. - The current quarter's earnings estimate is projected at $0.39 per share, reflecting a significant increase of +254.55% compared to the previous year [6]. - For the full year, the earnings estimate stands at $1.82 per share, indicating a change of +109.2% from the prior year [7]. Zacks Rank and Performance - First Western currently holds a Zacks Rank 1 (Strong Buy), supported by strong agreement among analysts in revising earnings estimates upward [3][8]. - Stocks with a Zacks Rank 1 have historically outperformed, with an average annual return of +25% since 2008 [3]. - The stock has gained 5.3% over the past four weeks, suggesting investor confidence in its earnings growth prospects [9].