First Western(US:MYFW)2026-01-22 21:10Financial Performance - Net income available to common shareholders was $3.3 million, or $0.34 per diluted share, for Q4 2025, compared to $3.2 million, or $0.32 per diluted share, in Q3 2025[3]. - Total income before non-interest expense was $25.7 million for Q4 2025, an increase of 7.1% from $24.0 million in Q3 2025[8]. - Net income available to common shareholders for the three months ended December 31, 2025, was $3,314,000, compared to $3,186,000 in the previous quarter[32]. - Basic earnings per common share for the three months ended December 31, 2025, was $0.34, up from $0.33 in the previous quarter[32]. Interest Income and Margin - Net interest income increased by $1.1 million, or 5.6%, from $19.5 million in Q3 2025 to $20.6 million in Q4 2025[6]. - Net interest margin increased by 17 basis points from 2.54% in Q3 2025 to 2.71% in Q4 2025[9]. - Net interest income after provision for credit losses was $19,662,000 for the three months ended December 31, 2025, up from $17,197,000 in the previous quarter[32]. - Net interest margin improved to 2.71% from 2.54% quarter-over-quarter, indicating enhanced profitability on interest-earning assets[40]. Loans and Assets - Total loans held for investment rose by $59 million, or 2.3%, from $2.59 billion in Q3 2025 to $2.65 billion in Q4 2025[6]. - Total loans held for investment increased to $2,652,086 thousand, up from $2,428,994 thousand year-over-year, representing a growth of 9.2%[36]. - Non-accrual loans decreased to $16,588 thousand from $18,293 thousand, a reduction of 9.3% quarter-over-quarter[40]. - Total assets as of December 31, 2025, were $3,154,981,000, a decrease from $3,240,424,000 as of September 30, 2025[34]. Deposits and Management - Total deposits decreased by 3.5% to $2.75 billion as of December 31, 2025, from $2.85 billion as of September 30, 2025[18]. - Total deposits decreased to $2,746,575,000 as of December 31, 2025, from $2,848,911,000 as of September 30, 2025[34]. - Assets Under Management (AUM) decreased by $155 million, or 2.1%, to $7.28 billion as of December 31, 2025, from $7.43 billion as of September 30, 2025[21]. - Assets Under Management (AUM) decreased to $7,278,241 thousand from $7,433,029 thousand, a decline of 2.1% quarter-over-quarter[40]. Expenses and Efficiency - Non-interest income decreased by 10.3% to $6.1 million in Q4 2025 from $6.8 million in Q3 2025[12]. - Non-interest expense increased by 6.0% to $21.3 million in Q4 2025 from $20.1 million in Q3 2025[14]. - Efficiency ratio improved to 74.88% from 76.38% quarter-over-quarter, showing better cost management[42]. Equity and Book Value - Tangible book value per common share increased 1.6% from $23.68 as of September 30, 2025, to $24.07 as of December 31, 2025, and increased 5.4% from $22.83 as of December 31, 2024[26]. - Tangible common equity increased to $234,138 thousand from $220,695 thousand year-over-year, reflecting a growth of 6.1%[42]. - Book value per share at period end increased to $27.30 from $26.10 year-over-year, reflecting a growth of 4.6%[40]. - Return on tangible common equity (annualized) rose to 5.66% from 4.98% year-over-year, indicating improved efficiency in generating profits[42]. Future Outlook - The company will host a conference call and webcast on January 23, 2026, to discuss the fourth quarter 2025 results[26]. - The company operates in Colorado, Arizona, Wyoming, California, and Montana, providing a fully integrated suite of wealth management services[27].