---
schema_version: "secwatch.filing_event.v1"
accession: "0001327607-23-000104"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:58:37.062005+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Western Q2 net income $1.5M, EPS $0.16 vs $0.39 Q1; revenue down 5% QoQ

## Summary
- Gross revenue $24.8M, down 5.0% QoQ; net interest income $18.4M, down 5.8% due to higher deposit costs.
- Non-interest income $4.0M, down 31.9% on $1.2M contingent consideration impairment and $1.1M fair-value loan losses.
- Provision for credit losses $1.8M vs negative provision in Q1; net income impacted by $1.5M after-tax allowance on analyzed loans.
- Deposits $2.38B (-0.7% QoQ); loans $2.50B (+1.1%); borrowings rose $51M to $312.6M.
- Headcount cut 10.5% in Q2; book value per share $25.38 (+0.6%); NPAs $10.3M (0.36% of assets) down from $12.5M.

## SEC filing metadata
- accession: 0001327607-23-000104
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000104/0001327607-23-000104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000104/myfw-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327607-23-000104
- JSON: https://secwatch.observer/filing/0001327607-23-000104.json
- Plain text: https://secwatch.observer/filing/0001327607-23-000104.txt

## Key facts
- Earnings Releases
  First Western Financial Inc reported the second quarter ended June 30, 2023 results: net income $1.5 million, EPS $0.16.
  - Period: the second quarter ended June 30, 2023
  - Net income: $1.5 million
  - EPS: $0.16
  - Result: reported results
  source text: First Western Reports Second Quarter 2023 Financial Results Second Quarter 2023 Summary • Total assets of $3.0 billion and assets under management of $6.5 billion • Net income available to common shareholders of $1.5 million in Q2 2023, compared to $3.8 million in Q1 2023 and $4.5 million in Q2 2022 • Diluted EPS of $0.16 in Q2 2023, compared to $0.39 in Q1 2023 and $0.46 in Q2 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000104/0001327607-23-000104-index.htm

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