Financial Data and Key Metrics Changes - The company generated net income of $4,200,000 or $0.43 per diluted share in the quarter, representing substantial increases from the prior quarter [8] - Tangible book value per share increased by 1.6% this quarter [8] - Gross revenue increased by 3.4% from the prior quarter, driven by increases in both net interest income and noninterest income [13] Business Line Data and Key Metrics Changes - New loan production was $71,000,000 in the first quarter, offset by $72,000,000 in loan payoffs, resulting in a slight decrease in total loans [10] - The average rate on new loan production was 6.89%, higher than the average rate on loan payoffs, contributing positively to the loan portfolio's yield [10] - Total deposits were up slightly from the end of the prior quarter, with inflows of noninterest bearing deposits from existing clients and new relationships [11] Market Data and Key Metrics Changes - The company saw a $144,000,000 decrease in assets under management in the first quarter, primarily due to net withdrawals in fixed fee accounts [12] - The company continues to experience strong demand for commercial real estate loans as borrowers seek to take advantage of lower property valuations [10] Company Strategy and Development Direction - The company is focused on growing its Trust Investment Management business and has added a new Head of Wealth Planning from Goldman Sachs to enhance this area [20] - The management anticipates continued positive trends in asset quality, net interest margin, and overall efficiencies as processes improve throughout the organization [19] Management Comments on Operating Environment and Future Outlook - Management expressed that while profitability has improved, they are not satisfied with the current performance level and aim to achieve a return on assets (ROA) of 1% [40] - There is uncertainty regarding the macroeconomic outlook, which could impact loan demand later in the year [20] - The company expects to see continued growth in net interest income due to a reduction in the cost of funds and redeployment of cash from the sale of OREO properties [15] Other Important Information - The company successfully resolved its two largest OREO properties, selling them for a net gain [8] - Noninterest expense decreased by $1,000,000 from the prior quarter, primarily due to a write-down recorded in the previous quarter [16] Q&A Session Summary Question: Can you isolate any interest recoveries on a dollar basis? - Management noted that there was a $200,000 increase in amortized loan fees that contributed to the uptick in loan yields [24][25] Question: What is the spot rate on deposits and average margin in March? - The cost of deposits was 2.98%, and the cost of funds was approximately 3.05% [28] Question: What is the outlook for nonperforming loans? - Management expects to sell one remaining OREO property this year and is working through the resolution of a substantial nonperforming loan [30][31] Question: Will there be a significant increase in expenses due to new hires? - Management indicated that while expenses are expected to remain flat, new hires may take time to become accretive to the bottom line [72] Question: How does the origination pipeline relate to new hires? - Management acknowledged that new hires are contributing positively, but the exact impact is difficult to quantify [47] Question: Are there any markets that are softer in terms of loan originations? - Management noted that the front range of Colorado remains healthy, while resort communities and newer markets like Bozeman are performing well [68]

Group 1 - First Western reported quarterly earnings of $0.43 per share, exceeding the Zacks Consensus Estimate of $0.23 per share, and showing an increase from $0.26 per share a year ago, resulting in an earnings surprise of 86.96% [1] - The company posted revenues of $24.8 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.35%, compared to $23.35 million in the same quarter last year [2] - Over the last four quarters, First Western has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - First Western shares have declined approximately 6.5% since the beginning of the year, while the S&P 500 has decreased by 8.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $24.71 million, and for the current fiscal year, it is $1.50 on revenues of $102.18 million [7] Group 3 - The Zacks Industry Rank indicates that the Banks - Midwest sector is currently in the top 10% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for First Western is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]

First Quarter 2025 Summary Net income available to common shareholders of $4.2 million in Q1 2025, compared to $2.7 million in Q4 2024Diluted earnings per share of $0.43 in Q1 2025, compared to $0.28 in Q4 2024Net interest income of $17.5 million in Q1 2025, compared to $16.9 million in Q4 2024Net interest margin increased 16 basis points from 2.45% in Q4 2024 to 2.61% in Q1 2025Other real estate owned ("OREO") decreased $31.5 million from $35.9 million in Q4 2024 to $4.4 million in Q1 2025 due to the sale ...

"We would also like to thank Eric Sipf for his many years of valuable service to our company. Eric was a founding director and a leader on our board for 20 years, including serving as the chair of the audit committee for 15 years. His guidance, expertise, and leadership have been extremely valuable as we have grown our franchise over the past 20 years and we wish him well in his retirement," said Mr. Wylie. Ms. Robinson holds a Bachelor of Science in Finance and Marketing from The Wharton School, University ...

DENVER, June 06, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado ("First Western" or the "Company"), today announced the appointment of Ellen S. Robinson to the Company's Board of Directors, as well as the retirement of Eric D. Sipf from the Board of Directors. Scott C. Wylie, Chairman and CEO of First Western, said, "We are very pleased to welcome Ellen Robinson to our Board of Directors. Ellen has been a prominen ...

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 September 30, 2023 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 _________ ...

First Western Financial Inc. (NASDAQ:MYFW) Q3 2023 Earnings Conference Call October 20, 2023 12:00 PM ET Company Participants Tony Rossi - Managing Director, Financial Profiles Scott Wylie - Chairman and Chief Executive Officer Julie Courkamp - Chief Operating Officer David Weber - Chief Financial Officer Conference Call Participants Brady Gailey - KBW Brett Rabatin - Hovde Group Adam Butler - Piper Sandler Bill Dezellem - Tieton Capital Management Ross Haberman - RLH Investments Operator Good day and thank ...

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 Table of Contents Commission File Number 001-38595 _________________________________________ FIRST WESTERN FINANCIAL, INC. (Exact name of registrant as specified in its charter) _________________________________________ (State or other jurisdiction of inco ...

First Western Financial, Inc. (NASDAQ:MYFW) Q3 2021 Earnings Conference Call October 22, 2021 12:00 PM ET Company Participants Tony Rossi - Financial Profiles, Inc. Scott Wylie - Chairman and CEO Julie Courkamp - CFO Conference Call Participants Brady Gailey - KBW Ross Haberman - RLH Investments Bill Dezellem - Tieton Capital Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the ...

Financial Performance - As of June 30, 2021, the company reported total assets of $2.01 billion and total revenues of $47.4 million, with $6.76 billion in assets under management (AUM) for fiduciary and advisory services [187]. - For the three months ended June 30, 2021, net income available to common shareholders was $6.3 million, a decrease of $2.4 million or 27.8% compared to the same period in 2020 [210]. - For the six months ended June 30, 2021, net income available to common shareholders increased to $12.3 million, a rise of $2.2 million or 22.4% compared to the same period in 2020 [211]. - For the six months ended June 30, 2021, income before income tax was $16.2 million, a 23.5% increase from the same period in 2020, driven by a $10.0 million increase in net interest income [212]. - Non-interest income for Wealth Management increased by 6.5% to $5.571 million in Q2 2021, compared to $5.230 million in Q2 2020 [248]. Asset Management - The ending balance of total assets under management reached $6,762 million as of June 30, 2021, compared to $5,752 million in the previous year [264]. - Assets under management (AUM) increased by $276.5 million, or 4.3%, for the three months ended June 30, 2021, and by $506.8 million, or 8.1%, for the six months ended June 30, 2021 [264]. - Contributions to total assets under management were $125 million for the three months ended June 30, 2021, compared to $116 million in the same period of 2020 [264]. Loan Portfolio - As of June 30, 2021, the company has $1,573.0 million in total loans held for investment, an increase from $1,534.2 million as of December 31, 2020, representing a growth of 2.5% [274]. - The company reported $48.6 million in mortgage loans held for sale as of June 30, 2021, down from $161.8 million as of December 31, 2020, indicating a decrease of 69.9% [271]. - The company’s 1-4 Family Residential loans increased to $496.1 million, accounting for 31.5% of total loans as of June 30, 2021, compared to 29.7% at the end of 2020 [274]. - The company’s non-owner occupied commercial real estate loans rose to $324.5 million, representing 20.6% of total loans as of June 30, 2021, up from 18.4% at the end of 2020 [274]. Interest Income and Expenses - Net interest income for the six months ended June 30, 2021, was $27.3 million, an increase of 38.3% compared to the same period in 2020, attributed to a $421.9 million increase in average loans outstanding [214]. - The average cost of funds decreased by 39 basis points for the six months ended June 30, 2021, contributing to the increase in net interest income [214]. - Interest income on available-for-sale securities increased, with an average yield of 2.55% for the three months ended June 30, 2021, a 71 basis point increase from the same period in 2020 [216]. - Interest expense on deposits decreased due to a 20 and 41 basis point decline in the cost of deposits for the three and six months ended June 30, 2021, respectively [217]. Non-Interest Expenses - Non-interest expense increased by $2.9 million, driven by higher personnel expenses and costs associated with a branch acquisition [210]. - The increase in non-interest expense for the three months ended June 30, 2021 was 22.8%, totaling $15.5 million, primarily due to higher salaries and employee benefits [235]. - Salaries and employee benefits increased by $2.9 million, or 44.1%, for the three months ended June 30, 2021, and by $4.3 million, or 28.6%, for the six months ended June 30, 2021 [237]. Credit Quality and Risk Management - The company recorded an immaterial provision for credit losses for the six months ended June 30, 2021, indicating effective management of credit risk [233]. - The total non-performing loans amounted to $3.1 million as of June 30, 2021, compared to $4.1 million as of December 31, 2020, reflecting a reduction in non-accrual loans [297]. - The allowance for loan losses was $12.6 million as of June 30, 2021, representing 0.80% of total loans, an increase from 0.73% as of December 31, 2020 [302]. - The company continues to monitor its loan portfolio closely, particularly for clients in industries more impacted by the COVID-19 pandemic [285]. Regulatory Compliance and Capital - The bank's capital ratios exceeded the current well-capitalized regulatory requirements established under Basel III as of June 30, 2021 [209]. - The company maintained compliance with regulatory capital adequacy requirements as of June 30, 2021, and December 31, 2020 [319]. - As of June 30, 2021, the Bank's Tier 1 capital to risk-weighted assets ratio was 11.03%, up from 10.22% as of December 31, 2020 [330]. Future Outlook - The company anticipates a 12.10% increase in net interest income with a 300 basis point increase in interest rates as of June 30, 2021 [340]. - The board of directors reviews interest rate risk exposure at least quarterly, using sensitivity analysis to assess potential impacts on net interest income [339].