secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001327607-24-000063
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/0001327607-24-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000063/myfw-20240418.htm
  HTML page:      https://secwatch.observer/filing/0001327607-24-000063

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