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.
For Q2 2020, First Western reported net income of $8.7 million ($1.10 EPS), up from $1.3 million in Q1 2020. Gross revenue increased to $26.2 million from $16.7 million in Q1, fueled by a significant boost in non-interest income from mortgage activities. Total assets rose to $1.81 billion, a 33.7% increase from Q1. Total loans reached $1.49 billion, benefiting from $204.6 million in PPP loans. The company remains cautiously optimistic, citing strong mortgage demand and effective loan management despite ongoing pandemic uncertainties.
First Western Financial, Inc. (NASDAQ: MYFW) announced it will release its second-quarter financial results for 2020 after market close on July 23, 2020. A conference call will follow on July 24, 2020, at 10:00 a.m. MT, where management will discuss the results and address questions from analysts and investors. The call will be accessible via telephone and live webcast. First Western Financial offers integrated wealth management services through its private trust bank platform across several states, including Colorado, Arizona, Wyoming, and California.
Summary not available.