---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-018400"
form_type: "8-K"
ticker: "MYFW"
cik: "0001327607"
company_name: "First Western Financial Inc"
filed_at: "2022-12-06T23:59:59+00:00"
generated_at: "2026-06-21T08:39:44.494422+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First Western Financial completes $20M subordinated note offering at 7% fixed rate

## Summary
- Issued $20M aggregate principal of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2032.
- Notes bear fixed 7.00% interest for 5 years, then float at 3-month SOFR + 328 bps.
- Proceeds to be used for general corporate purposes; notes qualify as Tier 2 capital.
- Company may redeem notes in whole or part on or after December 15, 2027.
- Keefe, Bruyette & Woods acted as sole placement agent for the offering.

## SEC filing metadata
- accession: 0001558370-22-018400
- form_type: 8-K
- ticker: MYFW
- cik: 0001327607
- company_name: First Western Financial Inc
- filed_at: 2022-12-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327607/000155837022018400/0001558370-22-018400-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327607/000155837022018400/myfw-20221205x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-018400
- JSON: https://secwatch.observer/filing/0001558370-22-018400.json
- Plain text: https://secwatch.observer/filing/0001558370-22-018400.txt

## Key facts
- Debt Financings
  First Western Financial Inc incurred senior notes of $20,000,000 in aggregate principal amount with the purchasers named therein at 7.00% fixed rate until December 15, 2027, then Three-Month Term SOFR plus 328 bp maturing December 15, 2032.
  - Instrument: senior notes
  - Principal: $20,000,000 in aggregate principal amount
  - Counterparty: the purchasers named therein
  - Rate: 7.00% fixed rate until December 15, 2027, then Three-Month Term SOFR plus 328 bp
  - Maturity: December 15, 2032
  - Event: incurrence
  source text: On December 5, 2022, First Western Financial, Inc. (the "Company") completed the issuance and sale (the "Offering") of $20,000,000 in aggregate principal amount of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2032 (the "Notes") pursuant to Subordinated Note Purchase Agreement, dated December 5, 2022 (the "Note Purchase Agreement"), by and among the Company and the purchasers named therein (the "Purchasers").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000155837022018400/0001558370-22-018400-index.htm
- Material Agreements
  First Western Financial Inc entered into Subordinated Note Purchase Agreement with the purchasers named therein valued at $20,000,000 (effective 2022-12-05).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the purchasers named therein
  - Value: $20,000,000
  - Effective: 2022-12-05
  source text: On December 5, 2022, First Western Financial, Inc. (the “Company”) completed the issuance and sale (the “Offering”) of $20,000,000 in aggregate principal amount of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Notes”) pursuant to Subordinated Note Purchase Agreement, dated December 5, 2022 (the “Note Purchase Agreement”), by and among the Company and the purchasers named therein (the “Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327607/000155837022018400/0001558370-22-018400-index.htm

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