secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0001327607-24-000155
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Western Q2 net income drops to $1.1M, EPS $0.11; NPLs rise to $49.3M
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- Net income available to common shareholders $1.1M ($0.11 diluted EPS) vs Q1 $2.5M ($0.26) and Q2 2023 $1.5M ($0.16).
- Net interest margin stabilized at 2.35%, up 1 bps QoQ; net interest income $15.8M, down 1.9% QoQ.
- Non-performing assets $49.3M (1.68% of assets) vs Q1 $46.0M (1.57%); provision for credit losses $2.3M vs $0.07M Q1.
- Total loans held for investment $2.46B (-0.8% QoQ); deposits $2.41B, down from $2.53B Q1.
- Book value per share $25.55; tangible book value $22.27; AUM $7.01B vs $7.14B Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000155/0001327607-24-000155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760724000155/myfw-20240723.htm
  HTML page:      https://secwatch.observer/filing/0001327607-24-000155

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