First Western Financial, Inc. (MYFW)

First Western Financial Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	142.17	136.76	96.52	60.76	52	42.05
Interest Income on Investments	10.37	8.79	4.68	1.25	1.34	3.01
Total Interest Income	152.54	145.56	101.2	62.01	53.33	45.05
Interest Paid on Deposits	81.66	65.46	13.01	3.48	5.79	12.26
Interest Paid on Borrowings	7.13	8.99	4.26	1.93	1.44	0.73
Total Interest Expense	88.79	74.45	17.27	5.42	7.23	12.99
Net Interest Income	63.75	71.11	83.93	56.6	46.1	32.06
Net Interest Income Growth (YoY)	-16.17%	-15.28%	48.29%	22.76%	43.79%	4.69%
Trust Income	19.24	18.79	18.94	20.2	19.02	18.94
Gain (Loss) on Sale of Assets	-	-	0.05	-	-0.55	0.18
Gain (Loss) on Sale of Investments	0.01	-0.02	0.35	0.47	-	0.12
Other Non-Interest Income	3.96	2.54	4.72	3.31	2.88	2.76
Total Non-Interest Income	27.3	21.95	27.74	40.04	50.63	32.58
Non-Interest Income Growth (YoY)	18.46%	-20.87%	-30.73%	-20.91%	55.41%	19.89%
Revenues Before Loan Losses	91.05	93.05	111.66	96.64	96.73	64.64
Provision for Loan Losses	11.4	10.36	3.68	1.23	4.68	0.66
Revenue	79.65	82.7	107.98	95.41	92.05	63.98
Revenue Growth (YoY)	-17.06%	-23.42%	13.18%	3.65%	43.88%	11.04%
Salaries and Employee Benefits	42.61	43.36	45.69	37.3	32.23	29.52
Occupancy Expenses	4.14	2.68	2.27	1.19	0.85	0.86
Amortization of Goodwill & Intangibles	0.23	0.25	0.31	0.02	0.01	0.37
Selling, General & Administrative	22.88	23.97	26.35	22.27	21.61	18.84
Other Non-Interest Expense	6.49	5.37	4.55	3.25	3.43	2.62
Total Non-Interest Expense	76.34	75.64	79.15	64.03	58.3	52.21
EBT Excluding Unusual Items	3.31	7.06	28.83	31.38	33.75	11.76
Pretax Income	3.31	7.06	28.83	27.28	33.06	10.19
Income Tax Expense	0.8	1.84	7.13	6.67	8.53	2.18
Earnings From Continuing Operations	-	5.23	21.7	20.61	24.53	8.01
Net Income	2.51	5.23	21.7	20.61	24.53	8.01
Net Income to Common	2.51	5.23	21.7	20.61	24.53	8.01
Net Income Growth	-81.99%	-75.92%	5.28%	-15.99%	206.33%	41.83%
Basic Shares Outstanding	10	10	9	8	8	8
Diluted Shares Outstanding	10	10	10	8	8	8
Shares Change (YoY)	0.48%	0.13%	17.95%	3.43%	0.59%	17.18%
EPS (Basic)	0.26	0.55	2.29	2.58	3.11	1.02
EPS (Diluted)	0.26	0.54	2.23	2.50	3.08	1.01
EPS Growth	-81.80%	-75.78%	-10.80%	-18.83%	204.95%	60.32%
Effective Tax Rate	24.24%	26.00%	24.73%	24.45%	25.80%	21.42%

Source: S&P Capital IQ. Banks template. Financial Sources.