Welcome to our dedicated page for First Western Financial news (Ticker: MYFW), a resource for investors and traders seeking the latest updates and insights on First Western Financial stock.
First Western Financial Inc (MYFW) maintains this dedicated news hub for investors and financial professionals tracking its operations as an integrated private trust bank. Access official press releases and verified updates covering strategic initiatives, financial performance, and service developments across both core segments.
This resource consolidates essential announcements including earnings disclosures, leadership changes, regulatory filings, and market expansion updates. Users gain direct access to primary source materials related to wealth management innovations, mortgage service updates, and corporate governance matters.
All content undergoes strict verification to ensure compliance with financial disclosure standards. The archive serves as a historical record of MYFW's operational milestones while providing context for its conservative risk management approach and client-focused service model.
Bookmark this page for streamlined monitoring of MYFW's evolving position in private banking and wealth management sectors. Combine these verified updates with broader market analysis when evaluating the company's strategic trajectory.
First Western Financial (NASDAQ: MYFW) reported Q2 2024 financial results with net income of $1.1 million, or $0.11 per diluted share. This compares to $2.5 million, or $0.26 per share, in Q1 2024. Key highlights include:
- Book value per share increased 0.1% to $25.55
- Tangible book value per share rose 0.2% to $22.27
- Net interest margin slightly improved to 2.35%
- Total capital ratio strengthened to 13.44%
CEO Scott C. Wylie noted the company's focus on prudent risk management and conservative loan production. Despite a relatively flat balance sheet, First Western saw improvements in loans, deposits, and net interest margin towards the end of the quarter. The company expects higher profitability in H2 2024 while continuing investments in talent and technology.
First Western Financial (NASDAQ: MYFW), a Denver-based financial services company, will release its Q2 2024 results on July 23, 2024, after market close. A conference call to discuss the results will be held on July 24, 2024, at 10:00 a.m. MT/12:00 p.m. ET. The call will be webcast live on the company's investor relations website. Participants need to register to receive the dial-in number and a personalized PIN. First Western operates in Colorado, Arizona, Wyoming, California, and Montana, offering wealth management services via a private trust bank platform.
First Western Financial (NASDAQ: MYFW) has announced a stock repurchase program authorized by its Board of Directors on June 13, 2024. The program allows the company to buy back up to 200,000 shares, roughly 2% of its outstanding shares, with approval from the Federal Reserve. CEO Scott C. Wylie emphasized that the repurchase is a long-term investment aimed at enhancing shareholder value and boosting earnings and tangible book value per share. The repurchases can occur via open market, privately negotiated transactions, or other methods compliant with securities laws. The program is effective for one year, and the timing and volume of repurchases will depend on various factors, including price, trading volume, and market conditions. It can be suspended or discontinued at any time without notice.
First Western Financial (NASDAQ: MYFW) announced the addition of Ellen S. Robinson to its Board of Directors, effective June 06, 2024. Ellen is a well-regarded executive in Denver's business community, noted for her expertise in leadership development and team coaching. At the same time, Eric D. Sipf is retiring from the board after 20 years of service, including 15 years as the chair of the audit committee. Scott C. Wylie, Chairman and CEO, praised Ellen's experience in sales, marketing, and talent mentoring, and expressed gratitude for Eric's valuable contributions to the company's growth.
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