First Western Financial (MYFW) Q3 2026 earnings summary

Executive summary

• Q3 net income was $6.0 million, or $0.60 per diluted share, up 87.5% YoY; 9M net income rose 80.8% to $17.9 million.

• Loan and deposit growth, wider NIM, improved deposit mix and disciplined expenses supported stronger earnings; non-performing assets declined.

• Pre-tax, pre-provision net income rose 14.5% QoQ and 27% YoY.

Financial highlights

• Gross revenue was $28.9 million, up 2.8% QoQ; net interest income increased 5.5% QoQ and 17.9% YoY to $23.0 million.

• Non-interest income fell 9.4% QoQ to $5.8 million, mainly on lower mortgage gains and bank fees; non-interest expense declined 1.9% QoQ to $20.8 million.

• Q3 provision for credit losses was $0.6 million versus $2.3 million a year earlier; 9M included a $0.6 million release versus $4.1 million provision in 2025.

• Tangible book value per share rose 2.9% QoQ to $26.28.

Outlook and guidance

• Management expects continued loan and deposit growth, improved deposit mix, NIM expansion, revenue growth and operating leverage, supported by a strong loan pipeline and experienced hires.

• Management said ~10% loan growth for 2026 appeared on track and a 15% run rate into 2027 was a reasonable indication, while favoring disciplined mid-teens growth.

• Management expects to operate at 1% ROA during 2027 and sees a medium-term path to 1.5% if markets remain healthy and rates relatively stable.

• No meaningful asset-quality deterioration is expected based on current portfolio and client trends.