First Western Financial Stock Price, News & Analysis

First Western Financial, Inc. (NASDAQ: MYFW) announced its inclusion in the Russell 3000^® Index and Russell 2000^® Index, effective June 27, 2022. This milestone follows the annual reconstitution that ranks the largest US stocks by market capitalization. CEO Scott C. Wylie noted that the company's growth strategies have led to increased market capitalization, which enhances stock liquidity and attracts a broader base of investors. The Russell indexes collectively benchmark around $12 trillion in assets, indicating significant investor interest.

First Western Financial, Inc. (Nasdaq: MYFW) announced the completion of its systems integration with Teton Financial Services, enhancing its presence in Wyoming. The merger, finalized on December 31, 2021, incorporates three Rocky Mountain Bank branches, enabling First Western to offer expanded services across 18 locations in Colorado, Arizona, Wyoming, and California. This integration allows enhanced client access to banking services, including fee-free ATM withdrawals and online banking platforms. The company aims to continue its community support and grow client relationships moving forward.

First Western Trust Bank, a subsidiary of First Western Financial (NASDAQ: MYFW), has appointed Heath Kinsland as Market President for the Denver Tech Center area. With over 20 years of banking experience, Kinsland aims to enhance client relationships and deliver tailored banking and wealth management services. Suzanne Johnson, Regional President, expressed confidence in Kinsland's ability to strengthen their market presence, highlighting his track record with high-net-worth clients. His previous leadership roles span various banking sectors.

First Western Financial, Inc. (MYFW) reported a net income of $5.5 million for Q1 2022, an increase from $1.9 million in Q4 2021, but a decline from $6.0 million in Q1 2021. Diluted EPS rose to $0.57 from $0.23 in the previous quarter. Total assets increased by 1.9% to $2.58 billion. Net interest income surged 27.1%, reaching $18.3 million, while non-interest income fell 9.5% to $8.6 million. The book value per share grew by 1.8% to $23.68, highlighting robust financial health amid market challenges.

First Western Financial, Inc. (MYFW) will announce its Q1 2022 financial results on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 10:00 a.m. MT (12:00 p.m. ET) to discuss the outcomes, with live webcast and replay available on the investor relations website.

Headquartered in Denver, Colorado, First Western offers an integrated suite of wealth management services across multiple states, including Colorado, Arizona, Wyoming, and California.

First Western Financial, Inc. (NASDAQ: MYFW) appointed Julie A. Courkamp as Chief Operating Officer while she retains her roles as Chief Financial Officer and Treasurer. With a tenure at First Western since 2006, Courkamp will oversee operations across banking, mortgage, trust, and investment management sectors, and other key departments. CEO Scott C. Wylie highlighted her leadership and contributions to the company's growth. First Western, headquartered in Denver, Colorado, is a holding company offering comprehensive wealth management services across several states.

First Western Trust Bank, a subsidiary of First Western Financial (NASDAQ: MYFW), has appointed Paula Campos as Market President for Scottsdale, AZ. With over 30 years in banking, Campos aims to enhance the bank's wealth management and private banking services in the region. Chuck Watts, Regional President, highlighted Campos' extensive experience and community ties as key for client relations and growth. This strategic hire is expected to bolster First Western's foothold in the Scottsdale market.

First Western Financial (MYFW) reported a net income of $1.9 million, or $0.23 per diluted share, for Q4 2021, down from $6.4 million in Q3 2021. The total assets increased to $2.53 billion, a 21.7% quarter-over-quarter increase. The company completed the acquisition of Teton Financial Services, contributing $252.3 million in loan growth. Adjusted net income stood at $4.8 million, or $0.57 per diluted share. However, gross revenue declined to $23.4 million, a decrease of 7.5% from Q3 2021.

First Western Financial, Inc. (MYFW) announced it will release its fourth-quarter financial results for the period ending December 31, 2021, on January 27, 2022, after market close.

A conference call to discuss these results is set for January 28, 2022, at 10:00 a.m. MT. Analysts and investors can participate in the Q&A session, with a live webcast available on the company's investor relations site. First Western operates across Colorado, Arizona, Wyoming, and California, offering a range of wealth management services.