First Western Financial, Inc. - MYFW STOCK NEWS

First Western Financial, Inc. (NASDAQ: MYFW) has announced it will release its third quarter 2024 financial results on Thursday, October 24, 2024, after market close. The company will hold a conference call on Friday, October 25, 2024, at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time to discuss the results.

Analysts and investors can participate in the Q&A session. The call will be webcast live on First Western's investor relations website. Participants need to register for the call to receive dial-in information. First Western is a financial services holding company headquartered in Denver, Colorado, offering integrated wealth management services across multiple states.

First Western Financial (NASDAQ: MYFW) reported Q2 2024 financial results with net income of $1.1 million, or $0.11 per diluted share. This compares to $2.5 million, or $0.26 per share, in Q1 2024. Key highlights include:

- Book value per share increased 0.1% to $25.55
- Tangible book value per share rose 0.2% to $22.27
- Net interest margin slightly improved to 2.35%
- Total capital ratio strengthened to 13.44%

CEO Scott C. Wylie noted the company's focus on prudent risk management and conservative loan production. Despite a relatively flat balance sheet, First Western saw improvements in loans, deposits, and net interest margin towards the end of the quarter. The company expects higher profitability in H2 2024 while continuing investments in talent and technology.

First Western Financial (NASDAQ: MYFW), a Denver-based financial services company, will release its Q2 2024 results on July 23, 2024, after market close. A conference call to discuss the results will be held on July 24, 2024, at 10:00 a.m. MT/12:00 p.m. ET. The call will be webcast live on the company's investor relations website. Participants need to register to receive the dial-in number and a personalized PIN. First Western operates in Colorado, Arizona, Wyoming, California, and Montana, offering wealth management services via a private trust bank platform.

First Western Financial (NASDAQ: MYFW) has announced a stock repurchase program authorized by its Board of Directors on June 13, 2024. The program allows the company to buy back up to 200,000 shares, roughly 2% of its outstanding shares, with approval from the Federal Reserve. CEO Scott C. Wylie emphasized that the repurchase is a long-term investment aimed at enhancing shareholder value and boosting earnings and tangible book value per share. The repurchases can occur via open market, privately negotiated transactions, or other methods compliant with securities laws. The program is effective for one year, and the timing and volume of repurchases will depend on various factors, including price, trading volume, and market conditions. It can be suspended or discontinued at any time without notice.

First Western Financial (NASDAQ: MYFW) announced the addition of Ellen S. Robinson to its Board of Directors, effective June 06, 2024. Ellen is a well-regarded executive in Denver's business community, noted for her expertise in leadership development and team coaching. At the same time, Eric D. Sipf is retiring from the board after 20 years of service, including 15 years as the chair of the audit committee. Scott C. Wylie, Chairman and CEO, praised Ellen's experience in sales, marketing, and talent mentoring, and expressed gratitude for Eric's valuable contributions to the company's growth.

First Western Financial, Inc. reported a net income of $2.5 million in Q1 2024, compared to a net loss of $3.2 million in Q4 2023. Diluted earnings per share increased to $0.26 from $(0.34) in the same periods. Non-interest income rose by 19.7% to $7.3 million. Book value per common share increased by 0.8% to $25.52. The loan to deposit ratio decreased to 98.4%. The company's strategic priorities led to positive trends in key areas, including asset quality improvement and higher non-interest income. A conference call and webcast will be held on April 19, 2024.

First Western Financial, Inc. (NASDAQ: MYFW) to Release Q1 2024 Financial Results on April 18, 2024. Conference Call Scheduled for April 19, 2024. Company Offers Wealth Management Services in Multiple States.

First Western Financial, Inc. reported a slight decrease in net income and revenue for Q4 2023 compared to Q3 2023, with diluted EPS dropping from $0.32 to $0.03. The company saw an increase in total deposits to $2.53 billion, a 4.5% growth from Q3 2023. While net interest income decreased, non-interest income remained flat, and non-interest expenses were steady. The company's total loans and total assets both experienced slight growth. The provision for credit losses increased to $3.9 million in Q4 2023 compared to $0.3 million in Q3 2023. First Western's capital levels remain well above the minimum required, with a total capital to risk-weighted assets ratio of 12.82% in Q4 2023.

First Western Financial, Inc. (NASDAQ: MYFW) announced the release of financial results for its fourth quarter ended December 31, 2023. The company will hold a conference call on January 26, 2024, to discuss the results. First Western is a financial services holding company headquartered in Denver, Colorado, with operations in several states, providing wealth management services and trading on the NASDAQ under the symbol MYFW.