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. reports developments for a financial services holding company built around First Western Trust, a private trust bank platform. News commonly covers quarterly operating results, net interest income, loan and deposit trends, asset quality, and balance sheet management, along with updates on wealth management, lending, trust administration, wealth planning, investment management, and residential mortgage services.
Company updates also include market-level leadership appointments and office activity across its Western U.S. footprint, including Colorado, Arizona, Wyoming, and Montana. First Western Trust serves high-net-worth individuals, families, business owners, and entrepreneurs through integrated banking, lending, fiduciary, and wealth management relationships.
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First Western Financial, Inc. (NASDAQ: MYFW) announced it will release its financial results for the first quarter ended March 31, 2023, on April 27, 2023, after market close. A conference call is scheduled for April 28, 2023, at 10:00 a.m. MT to discuss these results. Analysts and investors are invited to participate in a question-and-answer session following the presentation. The call will be accessible via telephone and also streamed live on the company’s investor relations website. First Western operates in multiple states, offering a range of wealth management services including deposits, loans, trusts, and investment management products.
First Western Financial, Inc. (NASDAQ: MYFW) reported its fourth quarter 2022 financial results with net income of $5.5 million, or $0.56 per diluted share, a decline from $6.2 million in Q3 2022. Total deposits rose 11.0% to $2.41 billion, while total loans increased by 5.1% to $2.48 billion. Gross revenue slightly decreased by 1.0% to $29.0 million compared to Q3 2022 but marked a 23.8% annual increase. The net interest margin fell to 3.32% due to rising costs of funds. Book value per share rose 2.5%, closing at $25.37. The company emphasizes strong business growth despite potential economic headwinds ahead.
First Western Financial, Inc. (NASDAQ: MYFW) announced its financial results for the fourth quarter ending December 31, 2022, will be released after market close on January 26, 2023. A conference call is scheduled for January 27, 2023, at 10:00 a.m. MT, where management will discuss the results and engage in a Q&A session.
As a financial services holding company, First Western provides wealth management services across several states, including Colorado and California. For more details, visit their investor relations page.
First Western Financial, Inc. (NASDAQ: MYFW) announced a $20 million issuance of 7.00% Fixed-to-Floating Rate Subordinated Notes due December 15, 2032. The proceeds will be used for general corporate purposes, enhancing the company’s Tier 2 capital. Interest is fixed at 7.00% until December 2027, after which it will reset quarterly based on Three-Month Term SOFR plus 328 basis points. The company may redeem the notes starting December 15, 2027, subject to regulatory approval. This initiative is expected to bolster capital ratios and support growth strategies.
First Western Financial (MYFW) reported solid financial results for Q3 2022, with net income rising to $6.2 million or $0.64 per diluted share, up from $4.5 million in Q2 2022. Total loans surged at an annualized rate of 38.1%, with net interest income increasing 13.2% to $22.8 million. However, non-interest income declined 7.0% quarter-over-quarter. Book value per share increased to $24.74, reflecting a 2.8% quarter-over-quarter growth. The company acknowledges potential loan growth moderation amid economic uncertainties.
First Western Financial, Inc. (NASDAQ: MYFW) announced it will release its financial results for Q3 2022 on October 20, 2022, after market hours. A conference call for analysts and investors will follow on October 21, 2022, at 10:00 a.m. MT/12:00 p.m. ET, where management will discuss results and answer questions. Participants must register to obtain access details. First Western, based in Denver, offers a suite of wealth management services across multiple states.
First Western Financial, Inc. (NASDAQ: MYFW) reported Q2 2022 net income of $4.5 million or $0.46 per diluted share, down from $5.5 million in Q1 2022 and $6.3 million in Q2 2021. Despite a decrease in non-interest income, the company experienced a record loan production with total loans held for investment rising 11.3% from Q1 2022. Net interest income grew by 10.1% compared to Q1 2022, primarily due to increased loan growth. Book value per share increased 1.6% from Q1 2022 to $24.06. The outlook remains positive with expectations for continued loan growth and margin expansion.