secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001327607-24-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000019/0001327607-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000019/myfw-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001327607-24-000019

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