First Western Financial SEC Filings

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.

First Western Financial, Inc. reported net income of $6,208 thousand for the three months ended March 31, 2026, higher than $4,185 thousand a year earlier. Basic earnings per common share were $0.64, compared with $0.43.

Total assets reached $3,240,717 thousand as of March 31, 2026, up from $3,154,981 thousand at year-end 2025, driven largely by loan and securities balances and higher cash and cash equivalents. Loans, net of the allowance for credit losses, were $2,669,314 thousand, while total deposits were $2,841,615 thousand, reflecting growth in both noninterest-bearing and interest-bearing deposit categories.

Net interest income rose to $20,883 thousand, and a $728 thousand release of provision for credit losses further supported results. Non-interest income was $6,656 thousand, led by trust and investment management fees and gains on mortgage loans. The allowance for credit losses on loans decreased to $20,801 thousand, and non-accrual and collateral-dependent loan disclosures show continued credit monitoring. Shareholders’ equity increased to $273,365 thousand, aided by earnings and improved other comprehensive income.

First Western Financial, Inc. is asking shareholders to vote at its June 3, 2026 annual meeting on three items: electing eleven directors, ratifying Crowe LLP as auditor for 2026, and approving an advisory "Say on Pay" vote on executive compensation.

The proxy highlights stronger 2025 results, including book value per share of $27.30 and tangible book value per share of $24.07 as of December 31, 2025. Net income available to common shareholders rose to $13.2 million, with diluted EPS of $1.34. Total deposits reached $2.75 billion and total loans $2.69 billion, both up nearly 10%, while non‑performing assets declined to $19.6 million.

The Board emphasizes its governance structure, including a combined Chairman/CEO role with a lead independent director, fully independent key committees, stock ownership guidelines for senior leaders, an insider trading and hedging policy, and a clawback policy tied to financial restatements.

First Western Financial, Inc. filed its 2025 Annual Report on Form 10-K describing a year of execution amid a challenging operating environment. Management reports higher book and tangible book value per share, stronger net interest margin, loan and deposit growth, stable expenses, and maintained capital ratios. The company reported total assets of $3.15 billion, loans (excluding mortgage loans held for sale) of $2.65 billion, deposits of $2.75 billion, and fiduciary and advisory AUM of $7.28 billion as of December 31, 2025. Management emphasizes continued disciplined underwriting, deposit gathering, and business development to support further improvement in 2026.

First Western Financial, Inc. reported significantly stronger results for the first quarter ended March 31, 2026. Net income available to common shareholders rose to $6.2 million, or $0.63 diluted EPS, up from $3.3 million, or $0.34, in the prior quarter and $4.2 million, or $0.43, a year earlier.

Net interest margin improved to 2.81% from 2.71% in Q4 2025 and 2.61% in Q1 2025, as funding costs fell faster than asset yields. Net interest income increased to $20.9 million, while non-interest income grew to $6.7 million, helped by higher mortgage gains and risk management and insurance fees.

Total loans held for investment grew to $2.69 billion, up 1.5% from year-end, and total deposits increased to $2.84 billion, up 3.5% quarter over quarter, with notable growth in noninterest-bearing balances. Asset quality strengthened, with non-performing assets declining to $16.3 million, or 0.50% of total assets, and other real estate owned falling to zero. The allowance for credit losses stood at 0.77% of total loans, reflecting a $0.7 million provision release.

Capital levels remained solid, with the bank subsidiary classified as “well capitalized.” Book value per share increased to $28.10, and tangible book value per share rose to $24.87. Management highlighted continued momentum in loan and deposit pipelines, ongoing margin improvement efforts, disciplined expenses, and stable credit metrics as factors supporting further performance improvement through 2026.

First Western Financial, Inc. provides a detailed overview of its private trust bank and wealth management business for the year ended December 31, 2025. The company reported total assets of $3.15 billion, loans of $2.65 billion, deposits of $2.75 billion, and shareholders’ equity of $265.6 million.

First Western focuses on high net worth clients in Colorado, Arizona, Wyoming, Montana, and California, offering integrated banking, lending, trust, and investment services through 19 boutique offices. As of year-end 2025, it managed $7.28 billion in trust and investment assets. Revenue is diversified, with non-interest income of $26.6 million and net interest income before credit losses of $75.4 million. Deposits grew 9.2% year over year, while AUM declined slightly. The company employs 320 associates and emphasizes a relationship-based, high-touch service model.

First Western Financial, Inc. highlights steady growth and improving profitability, furnishing an investor presentation that showcases its niche wealth-focused banking model in affluent Rocky Mountain and Western markets. As of 12/31/2025, the company reports assets of $3.15 billion, loans of $2.65 billion, deposits of $2.75 billion, and $7.28 billion of assets under management.

For 4Q25, net income available to common shareholders was $3.3 million, or $0.34 per diluted share, up 6% from the prior quarter and 21% from 4Q24, despite a $1.4 million write-down in other real estate owned. Net interest income rose to $20.6 million and net interest margin improved to 2.71%, helped by a 20 basis point drop in cost of funds.

The presentation emphasizes long-term value creation via tangible book value per share growth from $8.71 at 12/31/2017 to $24.07 at 12/31/2025, stable credit quality with average annual net charge-offs below 10 basis points over the last 10 years, and an ACL/total loans ratio of 0.81%. Deposits remain relationship-driven and relatively stable, with cumulative new deposits reaching $828 million and 2,214 new deposit accounts from 2018 to 2025.

Management points to continued organic and acquisition-driven balance sheet expansion, a growing commercial and wealth management platform, efficiency ratio improvement to 74.88% in 4Q25, and strong capital and liquidity, including $234.1 million of tangible common equity and $1.33 billion of available liquidity funding sources. The near-term outlook calls for ongoing loan and deposit growth, further net interest margin expansion, disciplined expense control, and no meaningful deterioration in asset quality based on current portfolio trends.

The Banc Funds Company, L.L.C. and related funds report a 3.4% passive ownership stake in First Western Financial Inc. common stock. The group discloses beneficial ownership of 346,090 shares, with sole voting and dispositive power over this amount.

The filing is an amended Schedule 13G that confirms the holders own 5 percent or less of the MYFW common stock class and states the shares are not held for the purpose of changing or influencing control of the company.

North Reef Capital Management LP and affiliates reported a sizable stake in First Western Financial, Inc. (MYFW). They beneficially own 685,954 shares of common stock, representing 7.06% of the company as of the event date.

The group, including North Reef Capital Management GP LLC and James H. Hanna III, has shared power to vote and dispose of all 685,954 shares and no sole voting or dispositive power. They state the shares were acquired and are held in the ordinary course of business, not to change or influence control of First Western Financial.