How is First Western Financial (MYFW)’s asset quality and credit performance trending?

Asset quality indicators appear favorable for First Western. Non-performing assets to total assets declined to 0.50% in 1Q26, with zero net charge-offs during the quarter. The allowance for credit losses was 0.77% of total loans, and the commercial real estate portfolio had a 54.5% average loan-to-value ratio.

First Western (NASDAQ: MYFW) lifts 1Q26 earnings, margin and deposits

Q: How has First Western Financial (MYFW) grown deposits and loans recently?

First Western continues to grow its loan and deposit base. In 1Q26, loans held for investment increased by $40.7 million, or about 1.5%, and total deposits rose by $95 million, or 3.5%, from 4Q25. Growth was broad-based across loan types and deposit categories, including money market and time deposits.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

First Western Financial, Inc. outlines strong recent performance and strategy in an investor presentation furnished with this report. As of March 31, 2026, the company had $3.24 billion in assets, $2.69 billion in loans, $2.84 billion in deposits, and $7.24 billion in assets under management.

For 1Q26, net income available to common shareholders was $6.2 million, or $0.63 per diluted share, up sharply from prior periods. Net interest margin improved to 2.81% and gross revenue rose to $27.6 million, while the efficiency ratio improved to 73.11% and tangible book value per share increased to $24.87.

The presentation highlights growth in loans and deposits, rising trust and investment management fees, consistently low net charge-offs, a diversified commercial real estate portfolio with low loan-to-value ratios, ample liquidity funding sources, and capital ratios above internal targets. Management also emphasizes technology investments, expansion in attractive Western markets, and a long-term goal of driving higher returns through operating leverage, selective acquisitions, and continued balance sheet growth.

Positive

Strong 1Q26 profitability and efficiency improvement: Net income available to common shareholders reached $6.2 million ($0.63 diluted EPS), gross revenue rose to $27.6 million, net interest margin increased to 2.81%, and the efficiency ratio improved to 73.11%, alongside higher tangible book value per share of $24.87.

Negative

None.

Insights

MYFW shows solid 1Q26 growth, margin gains and clean credit.

First Western Financial (MYFW) reports 1Q26 net income of $6.2 million, or $0.63 diluted EPS, with net interest income up and net interest margin rising to 2.81%. Loans held for investment reached $2.69 billion and deposits $2.84 billion, indicating balanced balance-sheet growth.

Asset quality appears strong: non-performing assets/total assets improved to 0.50%, net charge-offs were zero, and the allowance for credit losses stood at 0.77% of loans. The commercial real estate book has an average loan-to-value of 54.5% and is diversified across multi-family, industrial, office, and retail segments.

Profitability metrics are trending higher. Gross revenue for 1Q26 was $27.6 million, the efficiency ratio improved to 73.11%, and tangible book value per share increased to $24.87. With liquidity funding sources of $1.35 billion and a loan-to-deposit ratio of 94.7%, the bank appears positioned to continue executing its growth strategy, subject to broader economic and rate conditions.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total assets: $3.24 billion Loans held for investment: $2.69 billion Total deposits: $2.84 billion +5 more

8 metrics

Total assets $3.24 billion As of March 31, 2026

Loans held for investment $2.69 billion As of March 31, 2026

Total deposits $2.84 billion As of March 31, 2026; up 3.5% from 4Q25

Net income 1Q26 $6.2 million Net income available to common shareholders, 1Q26

Diluted EPS 1Q26 $0.63 per share Diluted earnings per share, 1Q26

Net interest margin 2.81% 1Q26 net interest margin; up from 2.71% in 4Q25

Non-performing assets ratio 0.50% Non-performing assets as a percent of total assets, 1Q26

Tangible book value per share $24.87 As of March 31, 2026

Key Terms

net interest margin, tangible book value per share, efficiency ratio, non-performing assets, +1 more

5 terms

net interest margin financial

"Net interest margin increased 10 basis points during the quarter from 2.71% in 4Q25 to 2.81% in 1Q26"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

efficiency ratio financial

"The efficiency ratio improved from 74.88% as of 4Q25 and 79.16% as of 1Q25 to 73.11% as of 1Q26"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

non-performing assets financial

"Non-performing assets decreased $3.3 million to $16.3 million in 1Q26"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

allowance for credit losses financial

"ACL/Total loans at 0.77% in 1Q26 and 0.81% 4Q25"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

Understanding 8-K Material Events →

05/01/2026 - 04:17 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 01, 2026

FIRST WESTERN FINANCIAL, INC.

(Exact name of registrant as specified in its charter)


Colorado	001-38595	37-1442266
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

1900 16th Street, Suite 1200 Denver, Colorado		80202
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 303.531.8100

Former name or former address, if changed since last report: Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


o			Emerging growth company

o			If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, no par value	MYFW	NASDAQ Stock Market LLC

Item 7.01 Regulation FD Disclosure.

First Western Financial, Inc. (the “Company”) is furnishing investor presentation materials as Exhibit 99.1 to this Form 8-K, which may be presented at meetings with investors, analysts, and others, in whole or in part and possibly with modifications, during the fiscal year ending December 31, 2026.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit Number						Description

99.1						First Western Financial, Inc. Investor Presentation

104						Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


						FIRST WESTERN FINANCIAL, INC.


Date: May 1, 2026						By: /s/ Scott C. Wylie
						Scott C. Wylie

						Chairman, Chief Executive Officer and President

INVESTOR PRESENTATION May 2026

Safe Harbor 2 This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Western Financial, Inc.’s (“First Western”) management with respect to, among other things, future events and First Western’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “position,” “project,” “future” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about First Western’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond First Western’s control. Accordingly, First Western cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although First Western believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the risk of geographic concentration in Colorado, Arizona, Wyoming, California, and Montana; the risk of changes in the economy affecting real estate values and liquidity; the risk in our ability to continue to originate residential real estate loans and sell such loans; risks specific to commercial loans and borrowers; the risk of claims and litigation pertaining to our fiduciary responsibilities; the risk of changes in interest rates could reduce our net interest margins and net interest income; increased credit risk, including as a result of deterioration in economic conditions, could require us to increase our allowance for credit losses and could have a material adverse effect on our results of operations and financial condition; the risk in our ability to maintain a strong core deposit base or other low-cost funding sources. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on February 27, 2026 and other documents we file with the SEC from time to time. All subsequent written and oral forward-looking statements attributable to First Western or persons acting on First Western’s behalf are expressly qualified in their entirety by this paragraph. Forward-looking statements speak only as of the date of this presentation. First Western undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise (except as required by law). Certain of the information contained herein may be derived from information provided by industry sources. The Company believes that such information is accurate and the sources from which it has been obtained are reliable; however, the Company cannot guaranty the accuracy of such information and has not independently verified such information. This presentation contains certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided at the end of this presentation. Numbers in the presentation may not sum due to rounding. Our common stock is not a deposit or savings account. Our common stock is not insured by the Federal Deposit Insurance Corporation or any governmental agency or instrumentality. Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of the Company after the date hereof.

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 4 Investment Highlights Successful Execution on Growth Strategies Attractive Markets and Business Model Strong Earnings Momentum • Significant revenue growth driving improved operating leverage and higher profitability since pre-IPO • TBV/share(1) increased ~171% since the IPO • Continued scale expected to drive further leverage and generate returns consistent with a high performing institution over long term • Chairman and CEO has previously built and sold three banks for substantial gains for shareholders • COO has been instrumental in building the MYFW franchise over 20 years at the institution • Highly aligned with shareholder interests as insiders own ~13.1% of total shares outstanding(2) • Discounted valuation trading at 1.12x TBV/share(3) Proven Management Team, High Insider Ownership, and Discounted Valuation • Track record of combining organic growth and market expansion with accretive acquisitions to enhance franchise value • Total assets up 210% since the IPO with substantial increases in revenue and EPS • Strengthening commercial banking platform creating more diverse loan portfolio and lower-cost deposit base • Growing institution operating in high growth markets • Attractive, stable deposit base with noninterest-bearing and money market accounts comprising 82% of total deposits as of 3/31/2026 • Conservative underwriting and affluent client base results in minimal credit losses • Client relationships deepen over time with banking, planning, trust and investment services (1) See Non-GAAP reconciliation within the appendix. (2) Represents beneficial ownership as defined within the April 2026 Proxy Statement. (3) As of April 29, 2026.

Franchise Overview 6

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 7 Great Markets, Scarce Investment Opportunity • Ranked among states with highest GDP growth • Strong job and population growth • Experienced significant in-migration • Attractive demographics with large amount of high net worth individuals • Western entrepreneurs and investors value local, trusted, expert First Western teams • Favorable tax laws for trusts and estates that attract wealthy individuals MSA State Market Share Projected % Change in HHI (2021-2026)(2) Denver-Aurora-Lakewood CO 1.33 11.00 Fort Collins CO 3.80 13.45 Phoenix-Mesa-Scottsdale AZ 0.08 13.18 Boulder CO 1.66 11.41 Jackson WY 3.69 8.50 National Average 9.01 (1) Source: S&P Capital IQ as of 06/30/2025. (2) Percentage growth in household income (HHI). Characteristics of First Western Markets Deposits by Metropolitan Statistical Area ("MSA")(1) Small Market Share Provides Large Growth Opportunity As of December 31, 2025 Current Ownership Total Assets ($bn) NBH Bank Public (NYSE: NBHC) 9.8 Bank of Colorado Private (Sub. Of Pinnacle Bancorp-NE) 7.7 Alpine Bank Private 6.8 First Western Trust Bank Public (Nasdaq: MYFW) 3.2 ANB Bank Private 3.0 MYFW is 2nd Largest Publicly Held CO Chartered Bank Denver, CO 58% Phoenix, AZ 6% Fort Collins, CO 16% Boulder, CO 8% Other 5% Rock Springs, WY 3% Jackson, WY 4% Deposits by State Colorado 86% Wyoming 7% Arizona 6% Montana 1%

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 8 Success in Expansion and Acquisition Growth 2006 – 2010 (3) • Boulder, CO • Century City, CA • Scottsdale, AZ 2011 – 2015 (6) • Aspen, CO • DTC/Cherry Hills, CO • Fort Collins, CO • Jackson Hole, WY • Laramie, WY(4) • Phoenix, AZ 2016 – 2020 (4) • Broomfield, CO (2021) • Greenwood Village, CO • Lone Tree, CO(2) • Vail Valley, CO 2002 – 2005 (3) • Cherry Creek, CO • Denver, CO • Northern Colorado, CO 2002 – 2005 (5) • Westcor Insurance Group, Inc. • Poudre River Valley Trust Co. • Sprout & Associates, Inc. • Sterling Partners • Silversmith Financial Corp 2006 – 2010 (4) • Reber/Russell Company • Ryder, Stilwell Inc. • Asset Purchase – Financial Management Advisors, LLC • Asset Purchase – GKM Advisors, LLC 2011 – 2015 (1) • Trust Department Assets – First National Bank of Wyoming 2016 – 2020 (2) • Asset Purchase – EMC Holdings, Inc. • Branch Purchase & Assumption from Simmons Bank O ff ic e O p en in gs A cq u is it io n s 2002 2026 3 5 6 9 12 10 16 12 # #Total Acquisitions Total Offices 19 13 2021 - 2022 (1) • Teton Financial Services, Inc. 2021 - 2024 (7) • Jackson Hole, WY(1) • Pinedale, WY(1) • Rock Springs, WY(1) • Bozeman, MT(5) • Phoenix, AZ(3) • Cheyenne, WY(6) • Loveland, CO(6) (1) Added through the Teton Financial Services, Inc. acquisition. Jackson Hole offices were consolidated in 2Q22. (2) Lone Tree office closed in 2Q22. (3) Phoenix loan production office closed in 1Q25. (4) Laramie trust office closed 1Q23. (5) Bozeman office expanded from a loan production office to a full-service office in 3Q23. (6) Cheyenne and Loveland loan production offices opened in 3Q24.

Unique Business Model 11

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions • Corporate loans to match specific needs • Well-versed in working with complex cash flows and business models • Customized treasury management products and services 13 Cross-Selling a Diverse Set of Products and Services Commercial Banking • Fiduciary wealth management with expert review of client objectives, creating solutions • Irrevocable life insurance trust, conservatorship, successor trustee, directed custodial trusteeship • WY tax-exempt asset protection, special needs trusts, escrow services, family office services • Provide a broad range of asset and sub asset classes, with automated tax and basis management • Create unique solutions through internal research, proprietary and third-party investment options • Central team creates the platform for Portfolio Managers to service clients, manage accounts • Wealth planning with specialized services (e.g. tax management, philanthropic) • Proprietary ConnectView® approach, with access to CFPs, CPAs and estate planning attorneys • Charitable giving tax strategies, deferred-compensation plans, life insurance, key person insurance • Mortgage banking specializing in purchase money, high net worth lending • Underwritten to Fannie Mae and Freddie Mac guidelines • Targeted portfolio lending and secondary sales • Retirement plan consultants partnering with businesses to sponsor retirement plans • Creative corporate retirement plan design, analysis solutions, fiduciary liability management • ERISA compliance and education Retirement / 401(k) Plan Consulting Residential Mortgage Lending Wealth Planning Investment Management Trust Our local profit centers team with specialized product experts through ConnectView®, with many points of entry

Transformation Underway 17

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions • "Goldilocks" size • Private bank and trust focus, expertise • Flexible technology stack 19 Market Disruption Opportunities to Add New Clients and Bankers Local Bank Became Now Colorado Business Bank CoBiz Bank BOK Financial Corporation Community Banks of Colorado NBH Bank Vista Bank Citywide Banks of Colorado Heartland Financial UMB Bank Guaranty Bank and Trust Company Independent Bank SouthState Bank F&S Bank CrossFirst Bank Busey Bank First Republic Bank Failed JPMorgan Chase Bank Bank of the West Bank of Montreal First Citizens Bank FirstBank PNC Bank Name New Leadership Roles Bank of America Colorado Market President BOK Financial Colorado Market CEO Busey Bank Regional President, CO/NM First Interstate Bank Colorado State President FirstBank/PNC Regional President of Colorado Huntington National Bank Regional President for Colorado MidWestOne Bank Colorado Regional President SouthState Bank Colorado Division President Sunflower Bank Regional President for Colorado Vectra Bank Colorado CEO Wells Fargo Colorado Market President for Commercial Banking Local banks disappearing in our markets Key executive changes occurring in Colorado(1) (1) Source: February 6, 2026 Denver Business Journal cover story "Change at the Top" First Western is well positioned to benefit from market disruption due to differentiation: • Local ownership • Local management • Integrated, team-based approach

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 23 Long-Term Goals to Drive Shareholder Value Since our pre-2018 IPO status as of year end 2017, we have tripled total loans and total deposits, more than doubled TBV per share and demonstrated significant operating leverage. Looking forward we can drive shareholder value by: • Creating more operating leverage to drive high performing ROAA and ROAE results • Emphasizing our differentiation in marketplace with our niche focus and "goldilocks" size • Growing through $5 billion in total assets, $25 billion TIM assets to achieve more operating leverage: ◦ Organic: Growing existing offices to benefit from the high contribution margins in mature offices ◦ Expansion: Adding infill and adjacent offices when attractive, built around strong teams • Building footprint, scale and operating leverage with M&A when attractive: ◦ Continue our history of selective growth with acquisitions ◦ Disciplined approach to be significantly earnings accretive with minimal TBV dilution • Enhancing loan, deposit and wealth management platform with unique products and delivery: ◦ Targeted services delivered by local, trusted, expert teams ◦ Integrated omnichannel client experience ◦ Build out new digital distribution channel Our mission is to be the BPBFWWMC – Best Private Bank for the Western Wealth Management Client We believe First Western can be a unique, niche-focused regional powerhouse with high fee income and consistent strong earnings from our scalable bank, trust and wealth management platform

Driving Profitable Growth 24

Recent Financial Trends 26

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato(regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions Overview of 1Q26 1Q26 Earnings • Net income available to common shareholders of $6.2 million, or $0.63, per diluted share • Diluted earnings per share increased 85% from the prior quarter, and 47% compared to 1Q25 • Pre-tax, pre-provision net income increased $2.0 million, or 38%, compared to 4Q25, and $1.9 million, or 36%, compared to 1Q25 • Positive trends in a number of key areas resulted in improvement in profitability from prior quarter Continued Execution on Strategic Priorities • Continued focus on prudent risk management and a conservative approach to new loan production, supported by new banking talent that is helping drive solid loan growth • Increase in loans held for investment of $41 million, or 1.5%, in 1Q26 • Success in deposit gathering efforts with increase in deposits of $95 million, or 3.5%, in 1Q26 • Positive trends in asset quality with decline in non-performing assets • Continued disciplined expense management Positive Trends in Key Metrics • Net interest income increased for the sixth consecutive quarter • Improvement in net interest margin from prior quarter primarily due to improved cost of funds • Mortgage, Trust and investment management, and Insurance fees all increased in the quarter • Further increase in tangible book value per share 27

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato(regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 29 Loan Portfolio • Total loans held for investment increased $40.7 million primarily due to growth in the 1-4 family residential and Commercial and industrial portfolios • Total loans held for investment increased for the fourth consecutive quarter and Total loans increased 12% year-over-year • New loan production diversified across markets and loan types • New loan production in 1Q26 of $115.8 million with a focus on relationship- based lending • Average rate on new loan production was 6.31% in 1Q26, relatively consistent with 4Q25 1Q25 4Q25 1Q26 Cash, securities and other $ 101,078 $ 164,787 $ 164,119 Consumer and other 16,688 19,504 20,036 Construction and development 291,133 189,790 195,230 1-4 family residential 971,179 1,030,211 1,069,542 Non-owner occupied CRE 636,820 813,408 780,279 Owner occupied CRE 182,417 205,063 212,177 Commercial and industrial 223,197 226,107 248,875 Total $ 2,422,512 $ 2,648,870 $ 2,690,258 Loans accounted for at fair value(2) 6,280 3,216 2,492 Total Loans HFI $ 2,428,792 $ 2,652,086 $ 2,692,750 Mortgage loans held for sale 10,557 40,176 28,426 Total Loans $ 2,439,349 $ 2,692,262 $ 2,721,176 (1) Represents unpaid principal balance. Excludes deferred fees, unamortized premiums, basis adjustments, net. (2) Excludes fair value adjustments on loans accounted for under the fair value option. ($ in thousands, as of quarter end) Loan Portfolio Composition(1) Loan Portfolio Details Loan Production & Loan Payoffs Total Loans(1) $2,428 $2,468 $2,594 $2,676 $2,718 $2,692 $2,721 1Q25 2Q25 3Q25 4Q25 1Q26 4Q25 1Q26 $1,000 $1,500 $2,000 $2,500 $3,000 Average Period End $70.8 $166.9 $145.7 $146.2 $115.8 $71.6 $122.6 $110.1 $131.3 $95.9 Production Loan Payoffs 1Q25 2Q25 3Q25 4Q25 1Q26 $0 $50 $100 $150 $200 ($ in millions) ($ in millions)

Creating Additional Shareholder Value 39

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 41 MYFW: Our Five Core Strengths Differentiated, Proven in the Marketplace Built-in Operating Leverage Highly Desirable Recurring Fee Income Experienced, Tested Team Unique Opportunity for Investors • Niche-focused franchise headquartered in Denver, Colorado • Well-positioned in many attractive markets in Arizona, California, Colorado, Montana, and Wyoming • Specialized central expertise to compete with siloed national, regional firms • Delivered through local, boutique trust banking teams so clients “owned” by MYFW, not associates • Strong profit center margins at maturity, growth opportunities in current and new markets • Revenue growth over long-term in both fee income and net interest income, with neutral balance sheet • Scalable, leverageable high fixed cost, low variable cost Product and Support Centers • Operating expense investment already in place for growth and expansion • Primarily recurring trust and investment management (“TIM”) fees • Low risk, “sticky” wealth/trust business with comprehensive product offering • Multiple entry points with ConnectView® – proprietary review process to service, cross-sell • At critical mass but small market share, many current and new market opportunities • Proven ability to expand: (1) Organically, (2) By expansion and (3) By acquisition • Few large Colorado bank alternatives for investors and clients, creating lift-out opportunities • Attractive revenue and earnings growth story trading at discounted valuation • Executives are major bank/professional firm trained, with deep relationships in communities • Achieved growth through business and economic cycles, capital constraints • Healthy relationship with all regulators with strong risk management culture • CEO with proven track record for creating value in previous bank ownership

Appendix 44

Organizational Overview 45

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions Name Director Since Primary Business Scott C. Wylie 2002 • First Western Financial, Inc. Julie A. Caponi, CPA(1) 2017 • Former Finance Executive at Arconic, Inc. (fka Alcoa Inc.) • Former audit partner at Deloitte • Board member & Audit Committee chair for FCF (NYSE) Julie A. Courkamp 2021 • First Western Financial, Inc. David R. Duncan 2011 • Energy • Winery Executive, Silver Oak Cellars • Entrepreneur, board member, business leader Thomas A. Gart 2013 • Real Estate Developer • Specialty Retail Executive • Family business, PE investing across broad range of industries Patrick H. Hamill 2004 • Real Estate Developer • Home Builder Executive • Entrepreneur, business/community leader, real estate expertise Luke A. Latimer 2015 • Utility Maintenance • Construction Executive • Family business, public bank board Scott C. Mitchell 2021 • President, U.S. Engineering, Metalworks • President of several successful manufacturing companies • Six Sigma Master Black Belt Ellen S. Robinson 2024 • Principal and Founder of the Robinson Coaching Group, Inc • Leadership development and coaching • Professional Coach Certification Mark L. Smith 2002 • Real Estate Developer • Entrepreneur, community leadership, real estate expertise Joseph C. Zimlich, CPA 2004 • Former Family Office Executive • Corporate leadership, board, and investment management 47 MYFW’s Sophisticated Board of Directors (1) CPA license inactive.

Non-GAAP Reconciliations 48

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 49 Non-GAAP Reconciliation Consolidated Gross Revenue For the Years Ended, (Dollars in thousands) 2021 2022 2023 2024 2025 Total income before non-interest expense $ 95,408 $ 107,934 $ 82,698 $ 90,071 $ 96,914 Less: Unrealized (loss) gain recognized on equity securities (21) 342 (22) (33) 14 Less: Net (loss) gain on loans accounted for under the fair value option — (891) (2,010) (999) 6 Less: Net gain on equity interests 489 7 — — — Less: Net (loss) gain on loans held for sale — (12) (178) (105) 222 Plus: Provision for credit losses 1,230 3,682 10,355 1,933 5,025 Gross revenue $ 96,170 $ 112,170 $ 95,263 $ 93,141 $ 101,697 Consolidated Adjusted Pre-tax, Pre-provision Income For the Years Ended, (Dollars in thousands) 2021 2022 2023 2024 2025 Net income before income tax, as reported $ 27,280 $ 28,828 $ 7,061 $ 11,579 $ 17,074 Plus: Provision for credit losses 1,230 3,682 10,355 1,933 5,025 Pre-tax, Pre-provision Income $ 28,510 $ 32,510 $ 17,416 $ 13,512 $ 22,099 Adjusted Diluted Pre-Tax Earnings Per Share For the Years Ended, (Dollars in thousands) 2021 2022 2023 2024 2025 Wealth Management income before income tax $ 21,378 $ 31,139 $ 9,660 $ 10,629 $ 16,410 Mortgage income (loss) before income tax 5,902 (2,311) (2,599) 950 664 Plus: Impairment of contingent consideration assets — — 1,249 338 11 Less: Income tax expense 6,670 7,130 1,836 3,106 3,886 Adjusted net income available to common shareholders $ 20,610 $ 21,698 $ 6,474 $ 8,811 $ 13,199 Adjusted diluted weighted average shares 8,235,178 9,713,623 9,725,910 9,755,804 9,830,133 Wealth Management Segment Adjusted Diluted Pre-Tax Earnings Per Share $ 2.60 $ 3.21 $ 1.12 $ 1.12 $ 1.67 Consolidated Adjusted Diluted Pre-Tax Earnings Per Share $ 3.31 $ 2.97 $ 0.85 $ 1.22 $ 1.74

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato (regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 50 Non-GAAP Reconciliation (1) Represents the percentage of loans to total loans in the respective category. Consolidated Efficiency Ratio For the Years Ended, (Dollars in thousands) 2021 2022 2023 2024 2025 Non-interest expense $ 68,128 $ 79,106 $ 75,637 $ 78,492 $ 79,840 Less: OREO expenses and write-downs — — — 1,285 1,291 Adjusted non-interest expense $ 68,128 $ 79,106 $ 75,637 $ 77,207 $ 78,549 Net interest income $ 56,509 $ 83,204 $ 71,105 $ 64,324 $ 75,368 Non-interest income 40,129 28,412 21,948 27,680 26,571 Less: Unrealized (loss) gain recognized on equity securities (21) 342 (22) (33) 14 Less: Net (loss) gain on loans accounted for under the fair value option — (891) (2,010) (999) 6 Less: Net gain on equity interests 489 7 — — — Less: Net (loss) gain on loans held for sale — (12) (178) (105) 222 Adjusted non-interest income $ 39,661 $ 28,966 $ 24,158 $ 28,817 $ 26,329 Adjusted total income $ 96,170 $ 112,170 $ 95,263 $ 93,141 $ 101,697 Efficiency ratio 70.8 % 70.5 % 79.4 % 82.9 % 77.2 % Allocation of the Allowance for Credit Losses (ACL) As of December 31, 2025 2024 (Dollars in thousands) ACL Amount % of Loans % of ACL %(1) ACL Amount % of Loans % of ACL %(1) Commercial: Construction and Development $ 2,210 1.2 % 10.3 % 7.2 % $ 5,184 1.6 % 28.3 % 13.0 % Non-Owner Occupied CRE 4,359 0.5 20.4 30.7 4,340 0.7 23.7 25.3 Owner Occupied CRE 846 0.4 3.9 7.7 654 0.4 3.6 7.1 Commercial and Industrial 6,892 3.0 32.1 8.5 2,357 1.1 12.9 9.1 Total Commercial $ 14,307 1.0 % 66.7 % 54.1 % $ 12,535 1.0 % 68.4 % 54.5 % Consumer: Cash, Securities and Other $ 1,150 0.7 % 5.4 % 6.2 % $ 410 0.3 % 2.2 % 5.0 % Consumer and Other 138 0.7 0.6 0.7 185 1.1 1.0 0.7 1-4 Family Residential 5,846 0.6 27.3 39.0 5,200 0.5 28.4 39.8 Total Consumer $ 7,134 0.6 % 33.3 % 45.9 % $ 5,795 0.5 % 31.6 % 45.5 % Total allowance for credit losses $ 21,441 0.8 % 100 % 100 % $ 18,330 0.8 % 100 % 100 %

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato(regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 52 Non-GAAP Reconciliation Consolidated Tangible Common Book Value Per Share (Dollars in thousands) March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Total shareholders' equity $ 256,555 $ 258,847 $ 261,495 $ 265,560 $ 273,365 Goodwill and other intangibles, net 31,576 31,524 31,473 31,422 31,373 Tangible common equity $ 224,979 $ 227,323 $ 230,022 $ 234,138 $ 241,992 Common shares outstanding, end of period 9,704,320 9,717,922 9,714,711 9,725,731 9,728,968 Tangible common book value per share $ 23.18 $ 23.39 $ 23.68 $ 24.07 $ 24.87 Net income available to common shareholders $ 6,208 Return on tangible common equity (annualized) 10.26 % Consolidated Efficiency Ratio For the Three Months Ended, (Dollars in thousands) March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Non-interest expense $ 19,361 $ 19,099 $ 20,074 $ 21,306 $ 20,164 Less: OREO expenses and write-downs (80) 53 8 1,310 — Adjusted non-interest expense $ 19,441 $ 19,046 $ 20,066 $ 19,996 $ 20,164 Net interest income $ 17,453 $ 17,884 $ 19,454 $ 20,577 $ 20,883 Non-interest income 7,345 6,305 6,842 6,079 6,656 Less: unrealized gain (loss) recognized on equity securities 11 3 6 (6) (4) Less: net gain (loss) on loans accounted for under the fair value option 6 26 18 (44) (39) Less: net gain on loans held for sale 222 — — — — Adjusted non-interest income $ 7,106 $ 6,276 $ 6,818 $ 6,129 $ 6,699 Adjusted total income $ 24,559 $ 24,160 $ 26,272 $ 26,706 $ 27,582 Efficiency ratio 79.16 % 78.83 % 76.38 % 74.88 % 73.11 %

157 180 196 164 166 168 62 94 111 154 161 132 122 125 129 76 78 86 255 255 255 Chart color Table color Special Headlines Slide Headlines / Text on light background Primary Colors Secondary Colors Primary Background / Call Out Boxes / Text on dark background Chart color Table Color Tertiary Colors Chart color Table Color Chart Color Chart Color Approved Fonts AaBbCc 123 Lora (bold) Slide Headlines / Special Headlines AaBbCc 123 Lato(regular, bold, italics) Body Copy / Subheadings / Small Text Descriptions 53 Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, (Dollars in thousands) March 31, 2025 December 31, 2025 March 31, 2026 Income before income taxes $ 5,357 $ 4,435 $ 8,103 Plus: provision for (release of) credit losses 80 915 (728) Pre-tax, pre-provision net income $ 5,437 $ 5,350 $ 7,375 Allocation of the Allowance for Credit Losses (ACL) As of March 31, 2026 December 31, 2025 (Dollars in thousands) ACL Amount % of Loans % of ACL %(1) ACL Amount % of Loans % of ACL %(1) Commercial: Construction and Development $ 2,198 1.1 % 10.6 % 7.3 % $ 2,210 1.2 % 10.3 % 7.2 % Non-Owner Occupied CRE 4,150 0.5 20.0 29.0 4,359 0.5 20.4 30.7 Owner Occupied CRE 853 0.4 4.1 7.9 846 0.4 3.9 7.7 Commercial and Industrial 6,372 2.6 30.6 9.3 6,892 3.0 32.1 8.5 Total Commercial 13,573 0.9 65.3 53.5 14,307 1.0 66.7 54.1 Consumer: Cash, Securities and Other 1,047 0.6 5.0 6.1 1,150 0.7 5.4 6.2 Consumer and Other 152 0.8 0.7 0.7 138 0.7 0.6 0.7 1-4 Family Residential 6,029 0.6 29.0 39.7 5,846 0.6 27.3 39.0 Total Consumer 7,228 0.6 34.7 46.5 7,134 0.6 33.3 45.9 Total allowance for credit losses $ 20,801 0.8 % 100.0 % 100.0 % $ 21,441 0.8 % 100.0 % 100.0 % (1) Represents the percentage of loans to total loans in the respective category.

Source: View Original Filing on SEC EDGAR

FAQ

How did First Western Financial (MYFW) perform financially in 1Q26?

First Western Financial generated solid 1Q26 results with rising earnings. Net income available to common shareholders was $6.2 million, or $0.63 diluted EPS. Gross revenue reached $27.6 million, supported by higher net interest income, stronger non-interest income and improving efficiency, as the efficiency ratio improved to 73.11%.

What are First Western Financial (MYFW)’s key balance sheet figures as of March 31, 2026?

First Western’s balance sheet reflects steady growth and diversification. As of March 31, 2026, assets totaled $3.24 billion, loans held for investment were $2.69 billion, deposits were $2.84 billion, and assets under management reached $7.24 billion, underscoring its combined banking and wealth management model.

What trends are visible in First Western Financial (MYFW)’s net interest income and margin?

First Western is experiencing improving net interest metrics. Net interest income increased to $20.9 million in 1Q26, up from prior quarters, while net interest margin expanded to 2.81%. Management attributes the margin gain mainly to lower funding costs following decreases in deposit rates.

How has First Western Financial (MYFW) grown deposits and loans recently?

First Western continues to grow its loan and deposit base. In 1Q26, loans held for investment increased by $40.7 million, or about 1.5%, and total deposits rose by $95 million, or 3.5%, from 4Q25. Growth was broad-based across loan types and deposit categories, including money market and time deposits.

What is First Western Financial (MYFW)’s capital and liquidity position?

First Western reports solid capital ratios and ample liquidity. As of March 31, 2026, tangible common equity was $241.99 million, or $24.87 per share. Liquidity funding sources totaled approximately $1.35 billion, and the loan-to-deposit ratio was 94.7%, supporting ongoing lending and growth initiatives.

What long-term goals does First Western Financial (MYFW) highlight for shareholders?

First Western emphasizes growth, operating leverage and niche positioning. The company aims to increase operating leverage, grow through $5 billion in total assets and $25 billion in trust and investment management assets, pursue selective acquisitions, and enhance its technology-enabled private bank and wealth management platform.

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First Western (NASDAQ: MYFW) lifts 1Q26 earnings, margin and deposits