First Western Financial Inc
For the period ended Mar 31, 2025. Filed May 7, 2025.
View on SEC.govAbout this filing
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.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Income
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(in thousands, except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Interest and dividend income: | ||
| Loans, including fees | $34,068 | $35,139 |
| Loans accounted for under the fair value option | 111 | 209 |
| Investment securities | 681 | 603 |
| Interest-bearing deposits in other financial institutions | 2,221 | 2,352 |
| Dividends, restricted stock | 128 | 95 |
| Total interest and dividend income | 37,209 | 38,398 |
| Interest expense: | ||
| Deposits | 18,516 | 20,622 |
| Other borrowed funds | 1,240 | 1,706 |
| Total interest expense | 19,756 | 22,328 |
| Net interest income | 17,453 | 16,070 |
| Less: Provision for credit losses | 80 | 72 |
| Net interest income, after provision for credit losses | 17,373 | 15,998 |
| Non-interest income: | ||
| Trust and investment management fees | 4,677 | 4,930 |
| Net gain on mortgage loans | 1,067 | 1,264 |
| Net gain on loans held for sale | 222 | 117 |
| Bank fees | 422 | 891 |
| Risk management and insurance fees | 259 | 49 |
| Income on company-owned life insurance | 110 | 105 |
| Net gain (loss) on loans accounted for under the fair value option | 6 | (302) |
| Net gain on other real estate owned | 459 | — |
| Unrealized gain (loss) recognized on equity securities | 11 | (6) |
| Other | 112 | 229 |
| Total non-interest income | 7,345 | 7,277 |
| Total income before non-interest expense | 24,718 | 23,275 |
| Non-interest expense: | ||
| Salaries and employee benefits | 11,480 | 11,267 |
| Occupancy and equipment | 2,210 | 1,976 |
| Professional services | 1,704 | 2,411 |
| Technology and information systems | 1,078 | 1,010 |
| Data processing | 1,122 | 948 |
| Marketing | 216 | 194 |
| Amortization of other intangible assets | 51 | 57 |
| Other | 1,500 | 1,833 |
| Total non-interest expense | 19,361 | 19,696 |
| Income before income taxes | 5,357 | 3,579 |
| Income tax expense | 1,172 | 1,064 |
| Net income available to common shareholders | $4,185 | $2,515 |
| Earnings per common share: | ||
| Basic | $0.43 | $0.26 |
| Diluted | 0.43 | 0.26 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.