First Western(US:MYFW)2025-04-25 23:34Financial Performance - Net income available to common shareholders was $42 million, resulting in diluted earnings per share of $043[8] - Net interest income increased to $175 million, compared to $169 million in the prior quarter, a 36% improvement[8, 42] - Gross revenue increased by 34% from the prior quarter[37] - Tangible book value per share increased by 16% to $2318[14] Loan Portfolio - New loan production in 1Q25 reached $708 million, with a focus on relationship-based lending[23] - The average rate on new loan production was 689%, higher than the average rate of loans paying off[23] - Total loans held for investment remained relatively flat compared to the prior quarter[23] Deposits and Assets Under Management - Total deposits increased by 04% from $251 billion in 4Q24 to $252 billion in 1Q25[28] - Noninterest-bearing deposits increased by 90% from $376 million in 4Q24 to $410 million in 1Q25[28] - Total assets under management decreased by 20% during the quarter to $718 billion[33] Asset Quality and Expenses - Non-performing assets decreased by $318 million to $171 million due to the sale of two OREO properties[57] - The efficiency ratio improved from 8074% in 4Q24 to 7916% in 1Q25, a 452% improvement from 1Q24[52]