First Western Financial Inc

First Western Financial, Inc. operates as a financial holding company, which engages in the provision of wealth managements services. It operates through the following business segments: Wealth Management, Capital Management, and Mortgage. The Wealth Management segment consists of operations relating to its fully integrated wealth management business. The Capital Management segment includes operations relating to its institutional investment management services over proprietary fixed income, high yield and equity strategies, including acting as the advisor of three owned, managed and rated proprietary mutual funds. The Mortgage segment consists of operations relating to the origination and sale of residential mortgage loans. The company was founded by Scott C. Wylie and Warren Joseph Olsen in 2002 and is headquartered in Denver, CO.

Earnings data Q1 2021

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Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

First Western Financial Inc reports solid Q4 performance and eyes growth opportunities

First Western Financial Inc delivered solid performance in loan growth and asset quality, while facing challenges in expenses and fee income.
The company's proactive approach to risk management and revenue growth strategies positions it well to capitalize on market opportunities.
Opportunities for growth lie in trust and investment management, asset management, and differentiation strategies to navigate competitive pressures.
Despite challenges, First Western remains disciplined in its approach, focusing on efficiency, client experience, and maintaining profitability.

First Western Financial Inc reports stable Q1 earnings amidst market challenges

First Western Financial Inc's Q1 performance reflects stability, growth in deposits, and strategic balance sheet actions. The company's strengths lie in a strong CRE loan portfolio, cautious deal pursuit, and a focus on deposit growth. Challenges include margin compression, intense deposit competition, and varying CRE loan market dynamics. Opportunities exist in revenue growth strategies, operational efficiency, and selective deal pursuits.

First Western Financial Inc reports stable Q2 performance and eyes loan growth opportunities

First Western Financial Inc's Q2 performance showed stability in deposits, growth in loan portfolio, and strong asset quality. Challenges include revenue decline and low loan growth expectations. Opportunities lie in increasing loan demand and promising signs for the future.

First Western Financial Inc reports resilient Q3 performance and growth opportunities

First Western Financial Inc navigated challenges to achieve strong financial performance in Q3 2023.
Despite NPAs and revenue declines, the company's focus on risk management and growth strategies remains strong.
Opportunities for growth exist through strategic partnerships and office expansions.
Efforts to manage expenses and drive loan yields are key focus areas for future success.

First Western Financial Inc reports solid Q4 performance and eyes growth opportunities in 2024

First Western Financial Inc's Q4 2023 performance showcased growth in deposits and assets under management, despite revenue challenges.
The company's strengths lie in its increased tangible book value per share, focus on deposit-rich industries, and positive outlook for 2024.
Challenges include mortgage production obstacles, ongoing M&A discussions, and uncertainties in the economic outlook.
Opportunities exist in improving mortgage production, strategic partnerships, and disciplined expense management for revenue growth.

First Western Financial Inc reports strong Q1 performance and growth outlook

First Western Financial Inc's Q1 earnings call showcased positive trends in profitability, asset quality, and strategic expansion. While facing challenges in loan growth and expense management, the company remains focused on resolving nonperforming loans and driving future growth opportunities.

First Western Financial Inc reports mixed Q2 results, eyes growth

First Western Financial Inc's Q2 performance reflects a mixed bag with operational strengths in net income and loan production, countered by challenges in revenue and asset management.
The company's strategic focus on risk management and expense control positions it well for future growth opportunities and overcoming current challenges.
Overall, First Western Financial Inc remains optimistic about the second half of the year, emphasizing a positive outlook driven by a commitment to enhancing operational efficiency and revenue generation.

First Western Financial Inc doubles net income in Q3

First Western Financial Inc delivered a solid performance in Q3 2024, emphasizing prudent risk management and achieving key financial targets.
While facing challenges such as increased non-performing assets and margin compression, the company remains focused on growth opportunities.
By leveraging its strengths in asset management and deposit growth, First Western Financial is well-positioned to navigate market dynamics and drive future success.

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First Western Financial, Inc. (NASDAQ:MYFW ) Q3 2024 Earnings Call Transcript October 25, 2024 12:00 PM ET Company Participants Tony Rossi - IR Scott Wylie - Chairman and CEO Julie Courkamp - COO David Weber - CFO Conference Call Participants Brett Rabatin - Hovde Group Woody Lay - KBW Matthew Clark - Piper Sandler Bill Dezellem - Tieton Capital Management Ross Haberman - RLH Investments Operator Good day and thank you for standing by. Welcome to the First Western Financial Q3 2024 Earnings Conference Call.

First Western Financial, Inc. (MYFW) Q3 2024 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.32 per share a year ago.

First Western (MYFW) Q3 Earnings and Revenues Lag Estimates

Third Quarter 2024 Summary Net income available to common shareholders of $2.1 million in Q3 2024, compared to $1.1 million in Q2 2024 Diluted earnings per share of $0.22 in Q3 2024, compared to $0.11 in Q2 2024 Total deposits increased 3.7% from $2.41 billion in Q2 2024 to $2.50 billion in Q3 2024 . Noninterest-bearing deposits increased 19% from $397 million in Q2 2024 to $474 million in Q3 2024 Loan-to-Deposit ratio decreased from 101.9% in Q2 2024 to 95.2% in Q3 2024 DENVER, Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the third quarter ended September 30, 2024.

First Western Reports Third Quarter 2024 Financial Results

DENVER, Oct. 04, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its third quarter ended September 30, 2024 after the markets close on Thursday, October 24, 2024.

First Western Financial, Inc. to Report Third Quarter 2024 Financial Results on Thursday, October 24

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy First Western Financial (MYFW) Stock?

First Western Financial, Inc. (NASDAQ:MYFW ) Q2 2024 Earnings Conference Call July 24, 2024 12:00 PM ET Company Participants Tony Rossi - Financial Profiles, Inc. Scott Wylie - Chairman and Chief Executive Officer Julie Courkamp - Chief Operating Officer David Weber - Chief Financial Officer Conference Call Participants Wood Lay - Keefe, Bruyette, & Woods, Inc. Bill Dezellem - Tieton Capital Management LLC Ross Haberman - RLH Investments Operator Good day, everyone, and thank you for standing by. Welcome to First Western Financial Second Quarter 2024 Earnings Conference Call.

First Western Financial, Inc. (MYFW) Q2 2024 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.25 per share a year ago.

First Western (MYFW) Q2 Earnings and Revenues Miss Estimates

Second Quarter 2024 Summary Book value per common share increased 0.1% from $25.52 in Q1 2024 to $25.55 in Q2 2024. Tangible book value per common share (1) increased 0.2% from $22.21 i n Q1 2024 to $22.27 in Q2 2024 Net interest margin stabilized during the quarter, with a slight increase of 1 basis point from 2.34% in Q1 2024 to 2.35% in Q2 2024 Net income available to common shareholders of $1.1 million in Q2 2024, compared to $2.5 million in Q1 2024 Diluted earnings per share of $0.11 in Q2 2024, compared to $0.26 in Q1 2024 Total capital to risk-weighted assets ratio of 13.44% in Q2 2024, compare d to 13.15% in Q1 2024 DENVER, July 23, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the second quarter ended June 30, 2024.

First Western Reports Second Quarter 2024 Financial Results

First Western (MYFW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

First Western (MYFW) Reports Next Week: Wall Street Expects Earnings Growth

First Western (MYFW) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Will First Western (MYFW) Gain on Rising Earnings Estimates?

DENVER, July 05, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its second quarter ended June 30, 2024 after the markets close on Tuesday, July 23, 2024.

First Western Financial, Inc. to Report Second Quarter 2024 Financial Results on Tuesday, July 23

First Western Financial (MYFW) rewards shareholders with a new share repurchase program. The plan authorizes the buyback of up to 2 million shares for a year.

First Western Financial (MYFW) Gains on New Share Buyback Plan

DENVER, June 17, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western” or “the Company”), announced that on June 13, 2024 its Board of Directors approved a stock repurchase program that authorizes the Company to repurchase up to 200,000 shares of its common stock, which represents approximately 2% of the Company's outstanding shares. The Board of Governors of the Federal Reserve System advised the Company that it has no objection to the Company's stock repurchase program.

First Western Financial, Inc. Announces Stock Repurchase Program

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.

First Western Financial, Inc. Announces Addition of Ellen S. Robinson to Board of Directors

First Western Financial, Inc. (NASDAQ:MYFW ) Q1 2024 Earnings Conference Call April 19, 2024 12:00 PM ET Company Participants Tony Rossi – Financial Profiles Scott Wylie – Chairman and Chief Executive Officer Julie Courkamp – Chief Operating Officer David Weber – Chief Financial Officer Conference Call Participants Brett Rabatin – Hovde Group Brady Gailey – KBW Adam Butler – Piper Sandler Operator Good day and thank you for standing by and welcome to the First Western Financial First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

First Western Financial, Inc. (MYFW) Q1 2024 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.39 per share a year ago.

First Western (MYFW) Q1 Earnings and Revenues Beat Estimates

First Quarter 2024 Summary Net income available to common shareholders of $2.5 million in Q1 2024, compared to a Net loss of $3.2 million in Q4 2023. Diluted earnings/(loss) per share of $0.26 in Q1 2024, compared to $(0.34) in Q4 2023 Non-interest income increased 19.7% to $7.3 million compared to $6.1 million in Q4 2023 and 25.3% compared to $5.8 million in Q1 2023 Loan to deposit ratio decreased to 98.4% in Q1 2024, compared to 100.6% in Q4 2023 Book value per common share increased 0.8% from $25.33 in Q4 2023 to $25.52 in Q1 2024.

First Western Reports First Quarter 2024 Financial Results

Earnings Preview: First Western (MYFW) Q1 Earnings Expected to Decline

DENVER, April 05, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2024 after the markets close on Thursday, April 18, 2024.

First Western Financial, Inc. to Report First Quarter 2024 Financial Results on Thursday, April 18

First Western Financial Inc. (MYFW) Q4 2023 Earnings Call Transcript

First Western (MYFW) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.58 per share a year ago.

First Western (MYFW) Lags Q4 Earnings and Revenue Estimates

Fourth Quarter 2023 Summary Total deposits increased to $2.53 billion, or 4.5%, from $2.42 billion as of Q3 2023 Loan to deposit ratio improved to 100.7% in Q4 2023, compared to 105.1% in Q3 2023 Net income available to common shareholders of $0.3 million in Q4 2023, compared to $3.1 million in Q3 2023 and pre-tax, pre-provision net income (1) of $4.1 million in Q4 2023, compared to $4.6 million in Q3 2023 Diluted EPS of $0.03 in Q4 2023, compared to $0.32 in Q3 2023 Total capital to risk-weighted assets ratio of 12.82% in Q4 2023, compared to 12.45% in Q3 2023 DENVER, Jan. 25, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the fourth quarter ended December 31, 2023. Net income available to common shareholders was $0.3 million, or $0.03 per diluted share, for the fourth quarter of 2023.

First Western Reports Fourth Quarter 2023 Financial Results

DENVER, Jan. 05, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its fourth quarter ended December 31, 2023 after the markets close on Thursday, January 25, 2024.

First Western Financial, Inc. to Report Fourth Quarter 2023 Financial Results on Thursday, January 25

First Western Financial Inc. (MYFW) Q3 2023 Earnings Call Transcript

Third Quarter 2023 Summary Net revenue increased $2.0 million, or 9.6%, to $22.5 million in Q3 2023, compared to $20.6 million in Q2 2023 Net income available to common shareholders of $3.1 million in Q3 2023 , compared to $1.5 million in Q2 2023 and $6.2 million in Q3 2022 Diluted EPS of $0.32 in Q3 2023, compared to $0.16 in Q2 2023 and $0.64 in Q3 2022 Book value per common share increased to $25.76 , or 1.5% , from $25.38 as of Q2 2023, and was up 4.1% from $24.74 as of Q3 2022 Total deposits increased to $2.42 billion , or 1.9% , from $2.38 billion as of Q2 2023, and were up 11.7% from $2.17 billion as of Q3 2022 DENVER, Oct. 19, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the third quarter ended September 30, 2023. Net income available to common shareholders was $3.1 million, or $0.32 per diluted share, for the third quarter of 2023.

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