---
schema_version: "secwatch.filing_event.v1"
accession: "0001327607-23-000159"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2023-10-19T23:59:59+00:00"
generated_at: "2026-06-09T19:55:56.029388+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Western Q3 net income $3.1M ($0.32 EPS); non-performing assets jump to $56.1M on single relationship

## Summary
- Net income available to common shareholders $3.1M, diluted EPS $0.32 vs $0.16 Q2 and $0.64 YoY.
- Net revenue $22.5M, up 9.6% QoQ but down 18% from $27.5M in Q3 2022.
- Non-performing assets surged to $56.1M (1.87% of assets) driven by one $42.2M relationship moved to non-accrual.
- Total deposits rose 1.9% to $2.42B; net interest margin fell 27 bps to 2.46% due to higher deposit costs.
- Book value per share $25.76, up 1.5% QoQ; provision for credit losses was $0.3M vs $1.8M prior quarter.

## SEC filing metadata
- accession: 0001327607-23-000159
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2023-10-19T23:59:59+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/1327607/000132760723000159/0001327607-23-000159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000159/myfw-20231019.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327607-23-000159
- JSON: https://secwatch.observer/filing/0001327607-23-000159.json
- Plain text: https://secwatch.observer/filing/0001327607-23-000159.txt

## Key facts
- Earnings Releases
  First Western Financial Inc reported third quarter ended September 30, 2023 results: revenue $22.5 million, net income $3.1 million, EPS $0.32 per diluted share.
  - Period: third quarter ended September 30, 2023
  - Revenue: $22.5 million
  - Net income: $3.1 million
  - EPS: $0.32 per diluted share
  - Result: reported results
  source text: First Western Reports Third Quarter 2023 Financial Results Third Quarter 2023 Summary • Net revenue increased $2.0 million, or 9.6%, to $22.5 million in Q3 2023, compared to $20.6 million in Q2 2023 • Net income available to common shareholders of $3.1 million in Q3 2023, compared to $1.5 million in Q2 2023 and $6.2 million in Q3 2022 • Diluted EPS of $0.32 in Q3 2023, compared to $0.16 in Q2 2023 and $0.64 in Q3 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760723000159/0001327607-23-000159-index.htm

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