---
schema_version: "secwatch.filing_event.v1"
accession: "0001327607-23-000042"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:34:56.990033+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Western Q1 earnings drop: EPS $0.39 vs $0.57 YoY; NIM falls 37bps to 2.93%

## Summary
- Net income available to common shareholders $3.8M, down 30% from $5.5M in Q4 2022 and Q1 2022.
- Net interest margin 2.93%, down 37bps QoQ; efficiency ratio worsened to 78.3% from 67.7%.
- Deposits $2.39B stable (-0.6% QoQ); borrowings increased to $261M from $147M; liquidity $1.5B.
- Adopted CECL on Jan 1, reducing retained earnings by $5.3M net of tax; provision release of $0.3M.
- Non-performing assets $12.5M (0.42% of assets), up from $4.3M (0.17%) a year ago.

## SEC filing metadata
- accession: 0001327607-23-000042
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000042/0001327607-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000042/myfw-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327607-23-000042
- JSON: https://secwatch.observer/filing/0001327607-23-000042.json
- Plain text: https://secwatch.observer/filing/0001327607-23-000042.txt

## Key facts
- Earnings Releases
  First Western Financial Inc reported the first quarter ended March 31, 2023 results: net income Net income available to common shareholders of $3.8 million, EPS Diluted EPS of $0.39.
  - Period: the first quarter ended March 31, 2023
  - Net income: Net income available to common shareholders of $3.8 million
  - EPS: Diluted EPS of $0.39
  - Result: reported results
  source text: On April 27, 2023, First Western Financial, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000042/0001327607-23-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.