secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001327607-23-000003
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Western Q4 net income $5.5M ($0.56 EPS); deposits grow 43.9% annualized, NPAs rise to $12.3M
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- Net income available to common shareholders $5.5M, diluted EPS $0.56, vs $6.2M ($0.64) Q3 2022 and $1.9M ($0.23) Q4 2021.
- Deposits grew $237.8M (43.9% annualized) to $2.41B; loans held for investment rose $121.2M (20.6% annualized) to $2.48B.
- Net interest margin 3.32% vs 3.76% Q3 2022; efficiency ratio 67.7% vs 64.9% Q3 2022.
- Non-performing assets increased to $12.3M (0.43% of total assets) from $3.9M; CECL adoption Jan 2023 with expected ACL 75-90 bps.
- Completed $20M subordinated notes issuance at 7.00% due 2032; FHLB borrowings reduced by $126.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760723000003/0001327607-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760723000003/myfw-20230126.htm
  HTML page:      https://secwatch.observer/filing/0001327607-23-000003

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