First Western Financial, Inc. (MYFW)

First Western Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	140.69	136.76	96.52	60.76	52
Interest Income on Investments	11.96	8.79	4.68	1.25	1.34
Total Interest Income	152.65	145.56	101.2	62.01	53.33
Interest Paid on Deposits	82.54	65.46	13.01	3.48	5.79
Interest Paid on Borrowings	5.79	8.99	4.26	1.93	1.44
Total Interest Expense	88.33	74.45	17.27	5.42	7.23
Net Interest Income	64.32	71.11	83.93	56.6	46.1
Net Interest Income Growth (YoY)	-9.54%	-15.28%	48.29%	22.76%	43.80%
Trust Income	19.19	18.79	18.94	20.2	19.02
Gain (Loss) on Sale of Assets	-	-	0.05	-	-0.55
Gain (Loss) on Sale of Investments	-0.03	-0.02	0.35	0.47	-
Other Non-Interest Income	4.71	2.54	4.72	3.31	2.88
Total Non-Interest Income	27.68	21.95	27.74	40.04	50.63
Non-Interest Income Growth (YoY)	26.12%	-20.87%	-30.73%	-20.91%	55.41%
Revenues Before Loan Losses	92	93.05	111.66	96.64	96.73
Provision for Loan Losses	1.93	10.36	3.68	1.23	4.68
Revenue	90.07	82.7	107.98	95.41	92.05
Revenue Growth (YoY)	8.92%	-23.41%	13.18%	3.65%	43.88%
Salaries and Employee Benefits	43.55	43.36	45.69	37.3	32.23
Occupancy Expenses	2.63	2.68	2.27	1.19	0.85
Amortization of Goodwill & Intangibles	0.23	0.25	0.31	0.02	0.01
Selling, General & Administrative	24.65	23.97	26.35	22.27	21.61
Other Non-Interest Expense	7.44	5.37	4.55	3.25	3.43
Total Non-Interest Expense	78.49	75.64	79.15	64.03	58.3
EBT Excluding Unusual Items	11.58	7.06	28.83	31.38	33.75
Pretax Income	11.58	7.06	28.83	27.28	33.06
Income Tax Expense	3.11	1.84	7.13	6.67	8.53
Earnings From Continuing Operations	8.47	5.23	21.7	20.61	24.53
Net Income	8.47	5.23	21.7	20.61	24.53
Net Income to Common	8.47	5.23	21.7	20.61	24.53
Net Income Growth	62.16%	-75.92%	5.28%	-15.99%	206.33%
Basic Shares Outstanding	10	10	9	8	8
Diluted Shares Outstanding	10	10	10	8	8
Shares Change (YoY)	0.31%	0.13%	17.95%	3.43%	0.59%
EPS (Basic)	0.88	0.55	2.29	2.58	3.11
EPS (Diluted)	0.87	0.54	2.23	2.50	3.08
EPS Growth	61.11%	-75.78%	-10.80%	-18.83%	204.95%
Effective Tax Rate	26.82%	26.00%	24.73%	24.45%	25.80%

Updated Mar 7, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q