secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K/A
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001327607-24-000048
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Western restates Q4 results: $3.5M charge-off on C&I loan after guarantor bankruptcy
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- Charge-off of $3.5M net of tax reduces Q4 and FY 2023 net income available to common stockholders.
- Allowance for credit losses increased by $4.0M; loans decreased by $8.6M due to the charge-off.
- Guarantor filed Chapter 7 bankruptcy on Feb 28, 2024; company pursuing all remedies.
- Q4 2023 net loss revised to $3.2M (diluted EPS -$0.34) vs. previously reported $3.1M net income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000048/0001327607-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000048/myfw-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001327607-24-000048

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