NASDAQ: MYFW
First Western Financial IncCIK 0001327607 · SIC 6022 · State Savings Banks
Small by revenue · Large by assets
Revenue $97M
Assets $3.2B
as of Oct 18, 2026
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10-Q
Filed Oct 30, 2026
· Period ending Sep 30, 2026
Summary not yet generated.
8-K
Filed Oct 22, 2026
· Period ending Oct 22, 2026
Summary not yet generated.
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10-Q
Filed Jul 31, 2026
· Period ending Jun 30, 2026
revenue $28.6M, net income $5.7M. Q2 net income more than doubles on margin expansion and deposit growth
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8-K
Filed Jul 24, 2026
· Period ending Jul 24, 2026
Summary not yet generated.
8-K
Filed Jul 23, 2026
· Period ending Jul 23, 2026
Summary not yet generated.
8-K
Filed Jun 5, 2026
· Period ending Jun 3, 2026
Summary not yet generated.
8-K
Filed Jun 2, 2026
· Period ending Jun 2, 2026
Summary not yet generated.
10-Q
Filed May 1, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
10-K
Filed Feb 27, 2026
· Period ending Dec 31, 2025
Summary not yet generated.
10-Q
Filed Oct 31, 2025
· Period ending Sep 30, 2025
Summary not yet generated.
10-Q
Filed Aug 1, 2025
· Period ending Jun 30, 2025
Summary not yet generated.
10-K
Filed Mar 7, 2025
· Period ending Dec 31, 2024
Summary not yet generated.
424B4
Filed Jul 19, 2018
Summary not yet generated.
S-1/A
Filed Jul 9, 2018
Summary not yet generated.
S-1/A
Filed Jul 3, 2018
Summary not yet generated.
S-1
Filed Jun 19, 2018
Summary not yet generated.
Latest financial statements
From 10-Q filed Oct 30, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Income (Unaudited)
(in thousands, except per share amounts)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Interest and dividend income: | ||||
| Loans, including fees | 40,153 | 37,701 | 117,245 | 106,813 |
| Loans accounted for under the fair value option | 35 | 64 | 97 | 260 |
| Investment securities | 2,819 | 1,387 | 6,128 | 2,887 |
| Interest-bearing deposits in other financial institutions | 834 | 3,468 | 3,051 | 7,086 |
| Dividends, restricted stock | 113 | 154 | 391 | 437 |
| Total interest and dividend income | 43,954 | 42,774 | 126,912 | 117,483 |
| Interest expense: | ||||
| Deposits | 20,136 | 22,177 | 58,133 | 58,901 |
| Other borrowed funds | 858 | 1,143 | 3,172 | 3,791 |
| Total interest expense | 20,994 | 23,320 | 61,305 | 62,692 |
| Net interest income | 22,960 | 19,454 | 65,607 | 54,791 |
| Less: Provision for (release of) credit losses | 647 | 2,257 | (550) | 4,110 |
| Net interest income, after provision for (release of) credit losses | 22,313 | 17,197 | 66,157 | 50,681 |
| Non-interest income: | ||||
| Trust and investment management fees | 4,865 | 4,629 | 14,358 | 13,818 |
| Net gain on mortgage loans | 483 | 1,394 | 2,847 | 3,648 |
| Net gain on loans held for sale | — | — | — | 222 |
| Bank fees | 329 | 312 | 1,063 | 1,027 |
| Risk management and insurance fees | 26 | 193 | 387 | 499 |
| Income on company-owned life insurance | 121 | 116 | 356 | 338 |
| Net (loss) gain on loans accounted for under the fair value option | (76) | 18 | (105) | 50 |
| Net (loss) gain on other real estate owned | — | — | (7) | 459 |
| Unrealized (loss) gain recognized on equity securities | (24) | 6 | (30) | 20 |
| Other | 82 | 174 | (22) | 411 |
| Total non-interest income | 5,806 | 6,842 | 18,847 | 20,492 |
| Total income before non-interest expense | 28,119 | 24,039 | 85,004 | 71,173 |
| Non-interest expense: | ||||
| Salaries and employee benefits | 12,704 | 11,884 | 38,673 | 34,383 |
| Occupancy and equipment | 2,087 | 2,188 | 5,973 | 6,644 |
| Professional services | 1,560 | 1,894 | 4,646 | 5,453 |
| Technology and information systems | 1,187 | 951 | 3,664 | 3,037 |
| Data processing | 1,308 | 1,251 | 3,853 | 3,539 |
| Marketing | 419 | 351 | 970 | 834 |
| Amortization of other intangible assets | 48 | 51 | 144 | 154 |
| Other | 1,527 | 1,504 | 4,298 | 4,490 |
| Total non-interest expense | 20,840 | 20,074 | 62,221 | 58,534 |
| Income before income taxes | 7,279 | 3,965 | 22,783 | 12,639 |
| Income tax expense | 1,298 | 779 | 4,865 | 2,765 |
| Net income available to common shareholders | 5,981 | 3,186 | 17,918 | 9,874 |
| Earnings per common share: | ||||
| Basic | 0.61 | 0.33 | 1.84 | 1.02 |
| Diluted | 0.60 | 0.32 | 1.80 | 1.00 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share amounts)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | 11,067 | 9,755 |
| Interest-bearing deposits in other financial institutions | 155,181 | 190,526 |
| Total cash and cash equivalents | 166,248 | 200,281 |
| Available-for-sale debt securities, at fair value (amortized cost of $154,271 and $45,623, respectively) | 152,544 | 45,607 |
| Held-to-maturity debt securities, net of allowance for credit losses of $189 and $74 (fair value of $134,582 and $90,635), respectively | 141,852 | 94,970 |
| Correspondent bank stock, at cost | 10,853 | 6,764 |
| Mortgage loans held for sale, at fair value | 18,989 | 40,176 |
| Loans (includes $1,146 and $3,182 measured at fair value, respectively) | 2,806,245 | 2,650,423 |
| Allowance for credit losses | (20,785) | (21,441) |
| Loans, net | 2,785,460 | 2,628,982 |
| Premises and equipment, net | 25,462 | 25,687 |
| Accrued interest receivable | 12,515 | 11,209 |
| Accounts receivable | 5,343 | 4,579 |
| Other receivables | 106 | 2,444 |
| Other real estate owned, net | — | 3,040 |
| Goodwill and other intangible assets, net | 31,277 | 31,422 |
| Deferred tax assets, net | 5,572 | 4,003 |
| Company-owned life insurance | 17,772 | 17,416 |
| Other assets | 46,849 | 38,401 |
| Total assets | 3,420,842 | 3,154,981 |
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing | 420,566 | 344,969 |
| Interest-bearing | 2,495,647 | 2,401,606 |
| Total deposits | 2,916,213 | 2,746,575 |
| Borrowings: | ||
| Federal Home Loan Bank and Federal Reserve borrowings | 150,926 | 62,841 |
| Subordinated notes | 34,883 | 44,772 |
| Accrued interest payable | 1,586 | 1,295 |
| Other liabilities | 29,119 | 33,938 |
| Total liabilities | 3,132,727 | 2,889,421 |
| Shareholders' Equity | ||
| Preferred stock no par value; 10,000,000 shares authorized; 0 issued and outstanding | — | — |
| Common stock no par value; 90,000,000 shares authorized; 9,772,119 and 9,725,731 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | — | — |
| Additional paid-in capital | 195,705 | 194,166 |
| Retained earnings | 90,621 | 72,703 |
| Accumulated other comprehensive income (loss) | 1,789 | (1,309) |
| Total shareholders’ equity | 288,115 | 265,560 |
| Total liabilities and shareholders’ equity | 3,420,842 | 3,154,981 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 17,918 | 9,874 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net amortization of investment securities | 111 | (21) |
| Stock dividends received on correspondent bank stock | (391) | (437) |
| (Release of) provision for credit losses | (550) | 4,110 |
| Net gain on loans held for sale | — | (222) |
| Net gain on mortgage loans | (2,847) | (3,648) |
| Origination of mortgage loans held for sale | (337,784) | (247,998) |
| Proceeds from mortgage loans | 361,519 | 254,781 |
| Loss on disposal of fixed assets | 399 | — |
| Depreciation and amortization | 1,949 | 2,010 |
| Net amortization of purchase accounting adjustments | 545 | 412 |
| Deferred income tax expense | 602 | 174 |
| Purchase of tax credits | (2,789) | (945) |
| Income on company-owned life insurance | (356) | (338) |
| Stock-based compensation | 2,244 | 1,620 |
| Net loss (gain) on other real estate owned | 7 | (459) |
| Unrealized loss (gain) recognized on equity securities | 30 | (20) |
| Net loss (gain) on loans accounted for under the fair value option | 105 | (50) |
| Net changes in operating assets and liabilities: | ||
| Change in accounts receivable | (229) | (55) |
| Change in accrued interest receivable and other assets | (3,189) | 302 |
| Change in accrued interest payable and other liabilities | (1,506) | (8,418) |
| Net cash provided by operating activities | 35,788 | 10,672 |
| Cash flows from investing activities | ||
| Activity in available-for-sale debt securities: | ||
| Maturities, prepayments, and calls | 11,082 | 553 |
| Purchases | (120,014) | (49,947) |
| Activity in held-to-maturity debt securities: | ||
| Maturities, prepayments, and calls | 12,418 | 6,669 |
| Purchases | (59,038) | (28,946) |
| Purchases of correspondent bank stock | (9,570) | (5,259) |
| Redemption of correspondent bank stock | 5,872 | 5,079 |
| Contributions to low-income housing tax credit investments | (865) | (1,442) |
| Contributions to investment funds | (1,439) | (1,830) |
| Distributions from investment funds | — | 111 |
| Loan and note receivable originations and principal collections, net | (156,306) | (161,717) |
| Purchases of premises and equipment | (2,012) | (2,685) |
| Purchases of loans | — | (4,600) |
| Proceeds from sale of other real estate owned | 3,033 | 31,999 |
| Net cash used in investing activities | (316,839) | (212,015) |
| Cash flows from financing activities | ||
| Net change in deposits | 169,638 | 334,702 |
| Payments to Federal Home Loan Bank borrowings | (290,434) | (179,734) |
| Proceeds from Federal Home Loan Bank borrowings | 379,027 | 174,734 |
| Payments to Federal Reserve borrowings | (508) | (1,171) |
| Payments to subordinated note holders | (10,000) | (8,000) |
| Repurchase of common stock | (146) | (784) |
| Cash paid for withholding taxes on share-based awards | (559) | (706) |
| Net cash provided by financing activities | 247,018 | 319,041 |
| Net change in cash and cash equivalents | (34,033) | 117,698 |
| Cash and cash equivalents, beginning of year | 200,281 | 237,941 |
| Cash and cash equivalents, end of period | 166,248 | 355,639 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (in thousands, except share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗