First Western Financial Inc
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
MYFW$31.000.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share amounts)
| March 31,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | $15,924 | $9,770 |
| Interest-bearing deposits in other financial institutions | 255,658 | 226,271 |
| Total cash and cash equivalents | 271,582 | 236,041 |
| Held-to-maturity debt securities, net of allowance for credit losses of $71 and $71 (fair value of $67,479 and $68,161), respectively | 73,775 | 75,724 |
| Correspondent bank stock, at cost | 5,968 | 5,864 |
| Mortgage loans held for sale, at fair value | 10,557 | 25,455 |
| Loans held for sale, at fair value | — | 251 |
| Loans (includes $6,112 and $7,283 measured at fair value, respectively) | 2,425,367 | 2,425,565 |
| Allowance for credit losses | (17,956) | (18,330) |
| Loans, net | 2,407,411 | 2,407,235 |
| Premises and equipment, net | 24,554 | 24,129 |
| Accrued interest receivable | 10,623 | 10,364 |
| Accounts receivable | 4,505 | 4,763 |
| Other receivables | 4,608 | 5,710 |
| Other real estate owned, net | 4,385 | 35,929 |
| Goodwill and other intangible assets, net | 31,576 | 31,627 |
| Deferred tax assets, net | 2,856 | 3,079 |
| Company-owned life insurance | 17,071 | 16,961 |
| Other assets | 36,829 | 35,905 |
| Total assets | $2,906,300 | $2,919,037 |
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing | $409,696 | $375,603 |
| Interest-bearing | 2,105,701 | 2,138,606 |
| Total deposits | 2,515,397 | 2,514,209 |
| Borrowings: | ||
| Federal Home Loan Bank and Federal Reserve borrowings | 51,612 | 57,038 |
| Subordinated notes | 44,621 | 52,565 |
| Accrued interest payable | 2,371 | 1,995 |
| Other liabilities | 35,744 | 40,908 |
| Total liabilities | 2,649,745 | 2,666,715 |
| Shareholders' Equity | ||
| Preferred stock - no par value; 10,000,000 shares authorized; 0 issued and outstanding | — | — |
| Common stock - no par value; 90,000,000 shares authorized; 9,704,320 and 9,667,142 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | — | — |
| Additional paid-in capital | 193,666 | 193,585 |
| Retained earnings | 63,700 | 59,515 |
| Accumulated other comprehensive loss | (811) | (778) |
| Total shareholders’ equity | 256,555 | 252,322 |
| Total liabilities and shareholders’ equity | $2,906,300 | $2,919,037 |
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