---
schema_version: "secwatch.filing_event.v1"
accession: "0001327607-24-000063"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T18:23:25.130028+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001327607-24-000063
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/0001327607-24-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/myfw-20240418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327607-24-000063
- JSON: https://secwatch.observer/filing/0001327607-24-000063.json
- Plain text: https://secwatch.observer/filing/0001327607-24-000063.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/0001327607-24-000063-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/0001327607-24-000063-index.htm
- Earnings Releases
  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
  source text: Net income available to common shareholders wa s $2.5 million, or $0.26 per diluted share, for the first quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/0001327607-24-000063-index.htm

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