First Western Financial (MYFW) Q2 2026 earnings summary
Event summary combining transcript, slides, and related documents.
Q2 2026 earnings summary
31 Jul, 2026Executive summary
Net income available to common shareholders was $5.7 million ($0.57 per diluted share) in Q2 2026, up 129% year-over-year, driven by higher net interest income and a release of provision for credit losses.
Tangible book value per share increased 2.6% to $25.53.
Loan production remained healthy and diversified, supported by new banking talent and favorable economic activity.
Asset quality remained stable with zero charge-offs and a small decrease in non-performing assets.
Wealth Management segment delivered strong profit growth, while the Mortgage segment posted a small loss before taxes for the quarter.
Financial highlights
Net interest income for Q2 2026 increased 21.8% year-over-year to $21.8 million, with net interest margin up 23 basis points to 2.90%.
Total deposits were $2.85 billion, up 0.4% sequentially and 12.6% year-over-year, with non-interest-bearing deposits up 5.1% in the quarter.
Loans held for investment rose $23.1 million sequentially; total loans up 7% year-over-year.
Non-interest income was $6.4 million, up 1.3% year-over-year, but down $0.3 million sequentially, mainly due to lower mortgage loan sales and insurance fees.
Non-interest expense rose to $21.2 million, including a $0.4 million nonrecurring technology write-off.
Outlook and guidance
Management expects further improvement in financial performance in the second half of 2026, with continued balance sheet growth, net interest margin expansion, and fee income growth.
Quarterly non-interest expense guidance set at $20–$21 million, with ongoing expense discipline.
Opportunities for growth seen from market disruption and M&A activity, especially in Arizona.
The company remains well capitalized and anticipates stable funding and liquidity positions.
Latest events from First Western Financial
- IPO-funded balance-sheet growth lifted earnings, but credit quality and Mortgage profitability weakened.MYFW
Q4 2018 - Mortgage growth lifted FY2019 earnings, while deposit costs and impairment tempered results.MYFW
Q4 2019 - Mortgage gains powered record earnings as commercial banking expanded and credit quality improved.MYFW
Q4 2020 - Commercial and wealth growth offset mortgage weakness, while Teton expanded scale and future growth prospects.MYFW
Q4 2021 - Organic lending and stronger spread income offset weaker AUM and mortgage results.MYFW
Q4 2022 - A $3.9 million credit provision cut Q4 earnings as deposits grew 4.5% QoQ.MYFW
Q4 2023 - Earnings rose 87.5% as loan growth and wider NIM supported improved profitability.MYFW
Q3 2026 - Net income and EPS surged on higher net interest income and strong loan and deposit growth.MYFW
Q1 2026 - Net income surged 68% to $4.2M as margins, asset quality, and capital strength improved.MYFW
Q1 2025