First Western Q1 2024 net income $2.5M ($0.26/diluted) vs Q4 2023 loss $3.2M

First Western Financial Inc

2024-Q1 EPS reported $0.26 revenue$23,275,000

Net income available to common $2.5M (diluted EPS $0.26) compared to net loss $3.2M (loss $0.34) in Q4 2023 and net income $3.8M ($0.39) in Q1 2023.
Net interest margin fell to 2.34% from 2.37% QoQ; loan-to-deposit ratio improved to 98.4% vs 100.6%; non-performing assets declined to $46.0M from $51.1M.
Total capital to risk-weighted assets 13.15% (Q4 2023: 12.59%); book value per common share $25.52, up 0.8% from $25.33; tangible book value $22.21.
Non-interest income rose 19.7% QoQ to $7.3M on higher wealth management and mortgage banking fees; provision for credit losses just $0.07M vs $8.5M in Q4.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

First Western Financial Inc reported first quarter ended March 31, 2024 results: net income $2.5 million, EPS $0.26 per diluted share.

Period: first quarter ended March 31, 2024
Net income: $2.5 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

On April 18, 2024, First Western Financial, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

First Western Financial Inc reported first quarter 2024 results: net income $2.5 million, EPS $0.26 per diluted share.

Period: first quarter 2024
Net income: $2.5 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

Net income available to common shareholders of $2.5 million in Q1 2024, compared to a Net loss of $3.2 million in Q4 2023. • Diluted earnings/(loss) per share of $0.26 in Q1 2024, compared to $(0.34) in Q4 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

First Western Financial Inc reported first quarter 2024 results: net income $2.5 million, EPS $0.26 per diluted share.

Period: first quarter 2024
Net income: $2.5 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

Net income available to common shareholders wa s $2.5 million, or $0.26 per diluted share, for the first quarter of 2024.

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First Western Financial Inc filing history →

Source: SEC EDGAR

accession 0001327607-24-000063

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