Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ 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 FIRST WESTERN FINANCIAL, INC. (Exact name of registrant as specified in its charter) Colorado 37-1 ...

Second Quarter 2022 Conference Call Safe Harbor | --- | --- ...

First Western Financial, Inc. (NASDAQ:MYFW) Q2 2022 Earnings Conference Call July 29, 2022 12:00 PM ET Company Participants Tony Rossi - Financial Profiles Scott Wylie - Chairman, CEO & President Julie Courkamp - CFO, COO, Treasurer & Director Conference Call Participants Brett Rabatin - Hovde Group Brady Gailey - KBW Matthew Clark - Piper Sandler & Co. Ross Haberman - RLH Investments William Dezellem - Tieton Capital Management Operator Good day, and thank you for standing by. Welcome to First Western Fina ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ 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 FIRST WESTERN FINANCIAL, INC. (Exact name of registrant as specified in its charter) Colorado 37- ...

First Western Financial, Inc. (NASDAQ:MYFW) Q1 2022 Earnings Conference Call April 29, 2022 12:00 PM ET Company Participants Tony Rossi ??? Financial Profiles, Inc. Scott Wylie ??? Chairman and Chief Executive Officer Julie Courkamp ??? Chief Financial Officer and Chief Operating Officer Conference Call Participants Brady Gailey ??? KBW Matthew Clark ??? Piper Sandler Ross Haberman ??? RLH Investments Bill Dezellem ??? Tieton Capital Brad Ness ??? Choral Capital Operator Good day. Thank you for standing by ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ 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 First Western Financial, Inc. (Exact name of Registrant as specified in its Charter) Colorado 37-1442266 (Sta ...

First Western Financial, Inc. (NASDAQ:MYFW) Q4 2021 Earnings Conference Call January 28, 2022 12:00 PM ET Company Participants Scott Wylie ??? Chairman and CEO Tony Rossi ??? Financial Profiles, Inc. Julie Courkamp ??? CFO Conference Call Participants Brett Rabatin ??? Hovde Group Bill Dezellem ??? Tieton Capital Unidentified Analyst ??? Coral Capital Matthew Clark ??? Piper Sandler Operator Thank you for standing by and welcome to the First Western Financial Q4 2021 Earnings Conference Call. At this time, ...

Third Quarter 2021 Conference Call Safe Harbor This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Western Financial, Inc.'s ("First Western") management with respect to, among other things, future events and First Western's financial performance. These statements are often, but not always, mad ...

Financial Performance - As of September 30, 2021, the company reported total assets of $2.08 billion and total revenues of $72.3 million[192]. - For the three months ended September 30, 2021, net income available to common shareholders was $6.4 million, a decrease of $3.2 million or 33.4% compared to the same period in 2020[214]. - The income before income tax for the three months ended September 30, 2021 was $8.5 million, a decrease of $4.4 million or 34.0% from the same period in 2020[214]. - For the nine months ended September 30, 2021, net income available to common shareholders was $18.7 million, a decrease of $1.0 million or 4.9% compared to the same period in 2020[215]. - For the nine months ended September 30, 2021, income before income tax was $24.7 million, a decrease of $1.3 million, or 4.9%, compared to the same period in 2020[216]. Asset Management - The company provided fiduciary and advisory services on $6.91 billion of assets under management (AUM) as of September 30, 2021[192]. - The ending balance of total assets under management was $6,906 million as of September 30, 2021, compared to $6,131 million for the same period in 2020[268]. - Assets under management increased by $143.8 million, or 2.1%, for the three months ended September 30, 2021, and increased by $650.6 million, or 10.4%, for the nine months ended September 30, 2021[271]. Income and Expenses - Net interest income increased by $3.0 million for the three months ended September 30, 2021, driven by a $1.7 million increase in interest income from loans[214]. - Non-interest income decreased by $7.5 million, or 41.8%, to $10.5 million for the three months ended September 30, 2021, primarily due to a $7.8 million decrease in net gain on mortgage loans[4]. - Non-interest income in Wealth Management grew by 5.1% to $6.0 million in Q3 2021, compared to $5.7 million in Q3 2020[255]. - Non-interest expense increased by $3.7 million, or 8.4%, to $47.6 million for the nine months ended September 30, 2021, primarily due to higher salaries and employee benefits[6]. Loan Performance - The company experienced a $7.8 million decrease in net gain on mortgage loans, primarily due to a slowdown in new lock volume associated with decreased refinance activity[214]. - The provision for loan losses recorded was $0.4 million for the nine months ended September 30, 2021[2]. - The allowance for loan losses at the end of the period was $12.964 million, up from $11.845 million in 2020, representing an increase of 9.4%[307]. - Total non-performing loans were $4.4 million as of September 30, 2021, with a non-performing loans to total loans ratio of 0.27%[296]. Capital and Equity - Total shareholders' equity increased by $20.2 million, or 13.0%, to $175.1 million as of September 30, 2021, primarily due to an increase in net income[266]. - The Bank's Tier 1 capital to risk-weighted assets ratio was 11.02% as of September 30, 2021, compared to 10.22% as of December 31, 2020[337]. - Total capital to risk-weighted assets ratio for the consolidated company was 14.37% as of September 30, 2021, up from 12.80% as of December 31, 2020[337]. Deposits and Borrowings - Total deposits increased by $162.4 million, or 10.0%, to $1.78 billion as of September 30, 2021, compared to December 31, 2020[314]. - Borrowings decreased by $76.3 million, or 43.9%, to $97.6 million as of September 30, 2021, attributed to a reduction in outstanding advances on the Federal Reserve's Paycheck Protection Program Loan Facility[265]. - Money market deposit accounts increased by $57.8 million, or 6.8%, to $905.2 million as of September 30, 2021, compared to December 31, 2020[264]. Economic Impact and Risk Management - The Company is closely monitoring the economic impact of COVID-19 on its loan portfolio, particularly in higher impacted industries[305]. - The Company continues to engage with clients in industries more affected by the pandemic, focusing on those with a greater than 50% probability of downgrade or covenant violation[290]. - The financial strength of the Company's clientele and the diversity of the portfolio continue to mitigate credit risk within the portfolio[3].