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 Sep 6, 2026
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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, credit-loss release, and deposit growth
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8-K
Filed Jul 24, 2026
· Period ending Jul 24, 2026
Summary not yet generated.
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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 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 Jul 31, 2026 (period ending Jun 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 June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest and dividend income: | ||||
| Loans, including fees | 38,967 | 35,065 | 77,092 | 69,112 |
| Loans accounted for under the fair value option | 23 | 85 | 62 | 196 |
| Investment securities | 1,845 | 819 | 3,309 | 1,500 |
| Interest-bearing deposits in other financial institutions | 876 | 1,376 | 2,217 | 3,618 |
| Dividends, restricted stock | 142 | 155 | 278 | 283 |
| Total interest and dividend income | 41,853 | 37,500 | 82,958 | 74,709 |
| Interest expense: | ||||
| Deposits | 18,980 | 18,208 | 37,997 | 36,724 |
| Other borrowed funds | 1,109 | 1,408 | 2,314 | 2,648 |
| Total interest expense | 20,089 | 19,616 | 40,311 | 39,372 |
| Net interest income | 21,764 | 17,884 | 42,647 | 35,337 |
| Less: (Release of) provision for credit losses | (469) | 1,773 | (1,197) | 1,853 |
| Net interest income, after (release of) provision for credit losses | 22,233 | 16,111 | 43,844 | 33,484 |
| Non-interest income: | ||||
| Trust and investment management fees | 4,742 | 4,512 | 9,493 | 9,189 |
| Net gain on mortgage loans | 906 | 1,187 | 2,364 | 2,254 |
| Net gain on loans held for sale | — | — | — | 222 |
| Bank fees | 429 | 293 | 734 | 715 |
| Risk management and insurance fees | 112 | 47 | 361 | 306 |
| Income on company-owned life insurance | 119 | 112 | 235 | 222 |
| Net gain (loss) on loans accounted for under the fair value option | 10 | 26 | (29) | 32 |
| Net (loss) gain on other real estate owned | — | — | (7) | 459 |
| Unrealized (loss) gain recognized on equity securities | (2) | 3 | (6) | 14 |
| Other | 69 | 125 | (104) | 237 |
| Total non-interest income | 6,385 | 6,305 | 13,041 | 13,650 |
| Total income before non-interest expense | 28,618 | 22,416 | 56,885 | 47,134 |
| Non-interest expense: | ||||
| Salaries and employee benefits | 13,034 | 11,019 | 25,969 | 22,499 |
| Occupancy and equipment | 1,983 | 2,224 | 3,886 | 4,434 |
| Professional services | 1,490 | 1,855 | 3,086 | 3,559 |
| Technology and information systems | 1,478 | 1,030 | 2,477 | 2,108 |
| Data processing | 1,359 | 1,166 | 2,545 | 2,288 |
| Marketing | 358 | 267 | 551 | 483 |
| Amortization of other intangible assets | 48 | 52 | 96 | 103 |
| Other | 1,467 | 1,486 | 2,771 | 2,986 |
| Total non-interest expense | 21,217 | 19,099 | 41,381 | 38,460 |
| Income before income taxes | 7,401 | 3,317 | 15,504 | 8,674 |
| Income tax expense | 1,672 | 814 | 3,567 | 1,986 |
| Net income available to common shareholders | 5,729 | 2,503 | 11,937 | 6,688 |
| Earnings per common share: | ||||
| Basic | 0.59 | 0.26 | 1.23 | 0.69 |
| Diluted | 0.57 | 0.26 | 1.20 | 0.68 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | 14,310 | 9,755 |
| Interest-bearing deposits in other financial institutions | 160,576 | 190,526 |
| Total cash and cash equivalents | 174,886 | 200,281 |
| Available-for-sale debt securities, at fair value (amortized cost of $89,745 and $45,623, respectively) | 89,615 | 45,607 |
| Held-to-maturity debt securities, net of allowance for credit losses of $151 and $74 (fair value of $112,617 and $90,635), respectively | 116,766 | 94,970 |
| Correspondent bank stock, at cost | 5,695 | 6,764 |
| Mortgage loans held for sale, at fair value | 24,675 | 40,176 |
| Loans (includes $1,758 and $3,182 measured at fair value, respectively) | 2,711,803 | 2,650,423 |
| Allowance for credit losses | (20,297) | (21,441) |
| Loans, net | 2,691,506 | 2,628,982 |
| Premises and equipment, net | 25,641 | 25,687 |
| Accrued interest receivable | 11,338 | 11,209 |
| Accounts receivable | 4,781 | 4,579 |
| Other receivables | 171 | 2,444 |
| Other real estate owned, net | — | 3,040 |
| Goodwill and other intangible assets, net | 31,325 | 31,422 |
| Deferred tax assets, net | 2,679 | 4,003 |
| Company-owned life insurance | 17,651 | 17,416 |
| Other assets | 41,277 | 38,401 |
| Total assets | 3,238,006 | 3,154,981 |
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing | 381,826 | 344,969 |
| Interest-bearing | 2,464,138 | 2,401,606 |
| Total deposits | 2,845,964 | 2,746,575 |
| Borrowings: | ||
| Federal Home Loan Bank and Federal Reserve borrowings | 36,431 | 62,841 |
| Subordinated notes | 44,849 | 44,772 |
| Accrued interest payable | 1,243 | 1,295 |
| Other liabilities | 28,926 | 33,938 |
| Total liabilities | 2,957,413 | 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; 9,765,129 and 9,725,731 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Additional paid-in capital | 195,042 | 194,166 |
| Retained earnings | 84,640 | 72,703 |
| Accumulated other comprehensive income (loss) | 911 | (1,309) |
| Total shareholders’ equity | 280,593 | 265,560 |
| Total liabilities and shareholders’ equity | 3,238,006 | 3,154,981 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 11,937 | 6,688 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net amortization of investment securities | 71 | (28) |
| Stock dividends received on correspondent bank stock | (278) | (283) |
| (Release of) provision for credit losses | (1,197) | 1,853 |
| Net gain on loans held for sale | — | (222) |
| Net gain on mortgage loans | (2,364) | (2,254) |
| Origination of mortgage loans held for sale | (245,675) | (162,424) |
| Proceeds from mortgage loans | 263,285 | 166,042 |
| Loss on disposal of fixed assets | 380 | — |
| Depreciation and amortization | 1,293 | 1,365 |
| Net amortization of purchase accounting adjustments | 360 | 222 |
| Deferred income tax expense | 612 | 253 |
| Purchase of solar tax credits | — | (945) |
| Income on company-owned life insurance | (235) | (222) |
| Stock-based compensation | 1,519 | 930 |
| Net loss (gain) on other real estate owned | 7 | (459) |
| Unrealized loss (gain) recognized on equity securities | 6 | (14) |
| Net loss (gain) on loans accounted for under the fair value option | 29 | (32) |
| Net changes in operating assets and liabilities: | ||
| Change in accounts receivable | (178) | 103 |
| Change in accrued interest receivable and other assets | 587 | 1,281 |
| Change in accrued interest payable and other liabilities | (2,722) | (12,926) |
| Net cash provided by (used in) operating activities | 27,437 | (1,072) |
| Cash flows from investing activities | ||
| Activity in available-for-sale debt securities: | ||
| Maturities, prepayments, and calls | 7,732 | — |
| Purchases | (51,964) | — |
| Activity in held-to-maturity debt securities: | ||
| Maturities, prepayments, and calls | 9,701 | 4,006 |
| Purchases | (31,375) | (27,946) |
| Purchases of correspondent bank stock | (3,609) | (5,247) |
| Redemption of correspondent bank stock | 4,956 | 140 |
| Contributions to low-income housing tax credit investments | (539) | (959) |
| Loan and note receivable originations and principal collections, net | (61,553) | (112,888) |
| Purchases of premises and equipment | (1,550) | (1,616) |
| Purchases of loans | — | (2,329) |
| Proceeds from sale of other real estate owned | 3,033 | 32,003 |
| Net cash used in investing activities | (125,168) | (114,836) |
| Cash flows from financing activities | ||
| Net change in deposits | 99,389 | 14,920 |
| Payments to Federal Home Loan Bank borrowings | (204,003) | (67,603) |
| Proceeds from Federal Home Loan Bank borrowings | 178,101 | 174,734 |
| Payments to Federal Reserve borrowings | (508) | (753) |
| Payments to subordinated note holders | — | (8,000) |
| Repurchase of common stock | (146) | (483) |
| Cash paid for withholding taxes on share-based awards | (497) | (634) |
| Net cash provided by financing activities | 72,336 | 112,181 |
| Net change in cash and cash equivalents | (25,395) | (3,727) |
| Cash and cash equivalents, beginning of year | 200,281 | 236,041 |
| Cash and cash equivalents, end of period | 174,886 | 232,314 |
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 ↗