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. (NASDAQ: MYFW) is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana. Through First Western Trust and other subsidiaries, the company provides a fully integrated suite of wealth management services on a private trust bank platform, combining deposit and loan products with trust, wealth planning, and investment management services.
This news page aggregates company-specific updates and announcements about First Western and its subsidiaries. Investors and observers can follow quarterly and annual earnings press releases, where the company discusses net interest income, non-interest income, net interest margin, loan and deposit trends, assets under management, credit quality metrics, and capital ratios. These releases often include commentary from management on loan production, deposit growth, expense management, and regional performance across its Western U.S. markets.
In addition to financial results, First Western’s news flow includes items such as leadership appointments and regional developments. For example, the company has highlighted the appointment of regional leadership in Arizona as part of its strategic investment in that market, along with its ongoing support for local businesses, entrepreneurs, and nonprofit organizations through community partnerships and philanthropy.
Visitors to this page can review a chronological archive of MYFW news to understand how the company’s balance sheet, profitability, and wealth management activities evolve over time, as well as how it positions its private trust bank platform and high-net-worth client focus across Colorado, Arizona, Wyoming, California, and Montana.
First Western Financial (NASDAQ: MYFW) reported Q4 2024 financial results with net income of $2.7 million ($0.28 per diluted share), up from $2.1 million in Q3 2024 and improving from a net loss of $3.2 million in Q4 2023.
Key Q4 2024 metrics include: net interest income of $16.9 million (up 8.3% from Q3), net interest margin increased to 2.45% (up 13 basis points), total loans grew 2.1% to $2.45 billion, and average deposits increased 4.0% to $2.50 billion. The company recorded a provision release of $1.0 million and maintained strong capital ratios with Tier 1 capital at 10.07%.
Non-performing assets totaled $49.0 million (1.68% of total assets), improving from $52.1 million in Q3. Assets Under Management decreased to $7.32 billion from $7.47 billion in Q3 2024, but showed improvement from $6.75 billion in Q4 2023.
First Western Financial (NASDAQ: MYFW) has announced it will release its fourth quarter 2024 financial results on Thursday, January 23, 2025, after market close. The company will host a conference call on Friday, January 24, 2025, at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time to discuss the results.
The conference call will be accessible via webcast on First Western's investor relations website, and participants can join the Q&A session through telephone access. First Western is a financial services holding company based in Denver, Colorado, offering integrated wealth management services including deposit, loan, trust, wealth planning, and investment management products across Colorado, Arizona, Wyoming, California, and Montana.
First Western Financial (MYFW) reported Q3 2024 net income of $2.1 million, or $0.22 per diluted share, up from $1.1 million in Q2 2024 but down from $3.1 million in Q3 2023. Total deposits increased 3.7% to $2.50 billion, with noninterest-bearing deposits rising 19% to $474 million. The loan-to-deposit ratio improved to 95.2% from 101.9% in Q2. Net interest margin decreased to 2.32% from 2.35% in Q2. Assets Under Management increased to $7.47 billion, up from $7.01 billion in Q2 2024. The company maintained its well-capitalized status with a CET1 ratio of 10.06%.
First Western Financial, Inc. (NASDAQ: MYFW) has announced it will release its third quarter 2024 financial results on Thursday, October 24, 2024, after market close. The company will hold a conference call on Friday, October 25, 2024, at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time to discuss the results.
Analysts and investors can participate in the Q&A session. The call will be webcast live on First Western's investor relations website. Participants need to register for the call to receive dial-in information. First Western is a financial services holding company headquartered in Denver, Colorado, offering integrated wealth management services across multiple states.
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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