---
schema_version: "secwatch.filing_event.v1"
accession: "0001327607-24-000019"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T17:57:08.951805+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Western Q4 2023 net income drops to $0.3M; EPS $0.03 vs $0.32 in Q3

## Summary
- Net income available to common shareholders $0.3M, down from $3.1M in Q3; diluted EPS $0.03 vs $0.32.
- NIM narrowed to 2.37% from 2.46% in Q3 and 3.30% a year ago; deposit costs rose 19 bps to 3.94%.
- Provision for credit losses surged to $3.9M from $0.3M in Q3; NPAs rose to $59.7M (2.00% of assets).
- Total deposits grew 4.5% to $2.53B; loan-to-deposit ratio improved to 100.7% from 105.1%.
- Efficiency ratio worsened to 80.8% from 78.8% in Q3 and 67.7% a year ago.

## SEC filing metadata
- accession: 0001327607-24-000019
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2024-01-25T23:59:59+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/1327607/000132760724000019/0001327607-24-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000019/myfw-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327607-24-000019
- JSON: https://secwatch.observer/filing/0001327607-24-000019.json
- Plain text: https://secwatch.observer/filing/0001327607-24-000019.txt

## Key facts
- Earnings Releases
  First Western Financial Inc reported financial results for the fourth quarter ended December 31, 2023.
  - Period: the fourth quarter ended December 31, 2023
  - Result: reported results
  source text: On January 25, 2024, First Western Financial, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000019/0001327607-24-000019-index.htm

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