First Western Army

First Western Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 19, 2023
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DENVER, Oct. 19, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • Gross revenue(1) was $23.1 million for the third quarter of 2023, a decrease of 6.6%, from $24.8 million for the second quarter of 2023.
  • Net interest income for the third quarter of 2023 was $16.8 million, a decrease of 9.1% from $18.4 million in the second quarter of 2023.
  • Net interest margin for the third quarter of 2023 decreased 27 basis points to 2.46% from 2.73% reported in the second quarter of 2023.
  • The yield on interest-earning assets decreased 3 basis points to 5.35% in the third quarter of 2023 from 5.38% in the second quarter of 2023 and the cost of interest-bearing deposits increased 31 basis points to 3.75% in the third quarter of 2023 from 3.44% in the second quarter of 2023.

First Western Financial, Inc. to Report Third Quarter 2023 Financial Results on Thursday, October 19

Retrieved on: 
Friday, October 6, 2023
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DENVER, Oct. 06, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its third quarter ended September 30, 2023 after the markets close on Thursday, October 19, 2023.

Key Points: 
  • DENVER, Oct. 06, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its third quarter ended September 30, 2023 after the markets close on Thursday, October 19, 2023.
  • Management will hold a conference call at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time on Friday, October 20, 2023, to discuss First Western’s financial results.
  • The conference call will be webcast live on the News & Events page of First Western’s investor relations website.
  • First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana.

First Western Financial, Inc. Announces Executive Promotions

Retrieved on: 
Monday, August 28, 2023
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David has been an extremely valuable member of our finance department for several years and is well prepared to take on the responsibilities of Chief Financial Officer and Treasurer.

Key Points: 
  • David has been an extremely valuable member of our finance department for several years and is well prepared to take on the responsibilities of Chief Financial Officer and Treasurer.
  • As Director of Finance and Treasury at First Western, Mr. Weber oversees the FP&A, Treasury, Corporate Development, Mortgage Secondary Marketing, and Compensation functions.
  • First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana.
  • First Western’s common stock is traded on the Nasdaq Global Select Market under the symbol “MYFW.” For more information, please visit www.myfw.com.

First Western Reports Second Quarter 2023 Financial Results

Retrieved on: 
Thursday, July 27, 2023
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DENVER, July 27, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the second quarter ended June 30, 2023.

Key Points: 
  • Net interest income for the second quarter of 2023 was $18.4 million, a decrease of 5.8% from $19.6 million in the first quarter of 2023.
  • The yield on interest-earning assets increased 18 basis points to 5.38% in the second quarter of 2023 from 5.20% in the first quarter of 2023 and the cost of interest-bearing deposits increased 50 basis points to 3.44% in the second quarter of 2023 from 2.94% in the first quarter of 2023.
  • The Company’s efficiency ratio(1) was 74.4% in the second quarter of 2023, compared with 78.3% in the first quarter of 2023 and 74.9% in the second quarter of 2022.
  • During the second quarter of 2023, the Company recorded a provision expense of $1.8 million, compared to a provision release of $0.3 million in the first quarter of 2023 and a $0.5 million provision expense in the second quarter of 2022.

First Western Financial, Inc. to Report Second Quarter 2023 Financial Results on Thursday, July 27

Retrieved on: 
Friday, July 7, 2023
First Western Army, Baozou Big News Events, First, PIN, Trust, Telephone access of Guantanamo Bay detainees, Webcast, Conference, News, Cryptocurrency, Broadcasting

DENVER, July 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its second quarter ended June 30, 2023 after the markets close on Thursday, July 27, 2023.

Key Points: 
  • DENVER, July 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its second quarter ended June 30, 2023 after the markets close on Thursday, July 27, 2023.
  • Management will hold a conference call at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time on Friday, July 28, 2023, to discuss First Western’s financial results.
  • The conference call will be webcast live on the News & Events page of First Western’s investor relations website.
  • First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana.

First Western Reports First Quarter 2023 Financial Results

Retrieved on: 
Thursday, April 27, 2023
Borrowing base, Insurance, Risk management, ASC, Life, First Western Army, Trust, FDIC, GAAP, Sale, Federal Home Loan Banks, AUM, Subordination, Federal Reserve, Growth, Bank, ACL, Video game, Cryptocurrency

DENVER, April 27, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the first quarter ended March 31, 2023.

Key Points: 
  • Gross revenue(1) was $26.1 million for the first quarter of 2023, a decrease of 10.1% from $29.0 million for the fourth quarter of 2022.
  • Net interest income for the first quarter of 2023 was $19.6 million, a decrease of 10.4% from $21.8 million in the fourth quarter of 2022.
  • Non-interest income for the first quarter of 2023 was $5.8 million, a decrease of 11.3%, from $6.6 million in the fourth quarter of 2022.
  • Non-interest expense for the first quarter of 2023 was $20.5 million, an increase of 3.1%, from $19.9 million in the fourth quarter of 2022.

First Western Financial, Inc. to Report First Quarter 2023 Financial Results on Thursday, April 27

Retrieved on: 
Friday, April 7, 2023
First Western Army, Baozou Big News Events, First, PIN, Trust, Telephone access of Guantanamo Bay detainees, Webcast, Conference, News, Cryptocurrency, Broadcasting

DENVER, April 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2023 after the markets close on Thursday, April 27, 2023.

Key Points: 
  • DENVER, April 07, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its first quarter ended March 31, 2023 after the markets close on Thursday, April 27, 2023.
  • Management will hold a conference call at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time on Friday, April 28, 2023, to discuss First Western’s financial results.
  • The conference call will be webcast live on the News & Events page of First Western’s investor relations website.
  • First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana.

First Western Reports Fourth Quarter 2022 Financial Results

Retrieved on: 
Thursday, January 26, 2023
Benchmark, Federal Home Loan Banks, GAAP, FHLB, First Western Army, SOFR, AUM, Subordination, Sale, Bank, Federal Reserve, Finance Secretary (India), Growth, Borrowing base, Video game, Note

DENVER, Jan. 26, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the fourth quarter ended December 31, 2022.

Key Points: 
  • The Company’s efficiency ratio(1) was 67.7% in the fourth quarter of 2022, compared with 64.9% in the third quarter of 2022 and 71.8% in the fourth quarter of 2021.
  • The Company recorded income tax expense of $1.8 million for the fourth quarter of 2022, representing an effective tax rate of 25.1%, compared to 24.5% for the third quarter of 2022.
  • AUM increased by $188.6 million during the fourth quarter to $6.11 billion as of December 31, 2022, compared to $5.92 billion as of September 30, 2022.
  • The Company recorded a provision of $1.2 million in the fourth quarter of 2022, compared to a provision of $1.8 million in the third quarter of 2022 and $0.8 million in the fourth quarter of 2021.

First Western Financial, Inc. to Report Fourth Quarter 2022 Financial Results on Thursday, January 26

Retrieved on: 
Friday, January 6, 2023
PIN, Baozou Big News Events, News, First Western Army, First, Telephone access of Guantanamo Bay detainees, Trust, Webcast, Conference, Broadcasting

DENVER, Jan. 06, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its fourth quarter ended December 31, 2022 after the markets close on Thursday, January 26, 2023.

Key Points: 
  • DENVER, Jan. 06, 2023 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it will release financial results for its fourth quarter ended December 31, 2022 after the markets close on Thursday, January 26, 2023.
  • Management will hold a conference call at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time on Friday, January 27, 2023, to discuss First Western’s financial results.
  • The conference call will be webcast live on the News & Events page of First Western’s investor relations website.
  • First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana.