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First Western Financial (MYFW) investor relations material

First Western Financial Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary25 Jul, 2025

Executive summary

  • Net income for Q2 2025 was $2.5 million ($0.26 per diluted share), up 127% year-over-year but down from Q1 due to one-time gains and higher provision.

  • Tangible book value per share increased by about 1% to $23.39; share repurchases were accretive.

  • Asset quality remained stable, with a slight increase in non-performing loans due to one credit; allowance coverage rose to 0.75%.

  • Total assets reached $3.03 billion, up 3.7% from year-end; AUM grew 4.5% to $7.50 billion, driven by market gains.

  • Wealth Management outperformed Mortgage, which saw lower origination volume and income.

Financial highlights

  • Net interest income was $17.9 million, up 2.3% sequentially and 13.3% year-over-year; net interest margin rose 6 bps to 2.67%.

  • Non-interest income was $6.3 million, down 13.7% sequentially and 9.6% year-over-year, mainly due to lower mortgage and trust fees.

  • Non-interest expense decreased 1.5% sequentially to $19.1 million; efficiency ratio improved to 78.8%.

  • Loans held for investment increased by $114M–$115M sequentially; new loan production was $167M.

  • Total deposits rose 0.4%–0.6% to $2.53 billion; borrowings increased to $208.1 million.

Outlook and guidance

  • Management expects continued balance sheet growth, stable to improving NIM, and strong net interest income in H2 2025.

  • NIM projected to remain flat in Q3, with expansion anticipated in Q4; target low to mid-2.70s by year-end.

  • Noninterest expense guidance remains $19.5M–$20M per quarter for the remainder of the year.

  • No material changes to risk factors or forward-looking statements since the last annual report.

  • No signs of meaningful asset quality deterioration; positive trends expected to continue.

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Frequently asked questions

First Western Financial Inc is a financial holding company that offers private banking, commercial lending, trust, investment management, and mortgage services. Operating through its wholly owned bank subsidiary, the company targets high-net-worth individuals and small to medium-sized businesses. Its operations are concentrated in the western United States. First Western Financial Inc is headquartered in Denver, Colorado, and its shares are listed on the NASDAQ.

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