First Western Q3 net income $2.1M ($0.22 EPS); deposits up 3.7%, loan-to-deposit ratio down to 95.2%

First Western Financial Inc

2024-Q3 EPS reported $0.59 revenue$65,730,000

Net income $2.1M ($0.22 diluted EPS) vs $1.1M ($0.11) in Q2 2024 and $3.1M ($0.32) in Q3 2023.
Total deposits grew 3.7% to $2.50B; noninterest-bearing deposits up 19% to $474M.
Loan-to-deposit ratio improved to 95.2% from 101.9% in Q2 2024.
Provision for credit losses fell to $0.5M from $2.3M in Q2 2024, reflecting improved credit quality.
CEO expects loan growth in 2025, net interest margin expansion, and higher mortgage income as rates decline.

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