First Western Financial, Inc. · NASDAQ:MYFW
First Western Financial — Q2 2025 Earnings Presentation
18 slides from First Western Financial's earnings presentation, Jul 25, 2025
Slide 1: Second Quarter 2025 Conference Call
Second Quarter 2025 Conference Call
Slide 2: Safe Harbor
Safe Harbor This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of First Western Financial,
Slide 3: Overview of 2Q25
Overview of 2Q25 • Net income available to common shareholders of $2.5 million or $0.26 per diluted share • Net interest income increased $0.4 million from $17.5 million in the prior quarter to $17.9 million 2Q25 Earnings • Positive trends in a number of key areas • Continued priority on prudent ris
Slide 4: Net Income Available to Common Shareholders and Earnings per Share
Net Income Available to Common Shareholders and Earnings per Share • Net income of $2.5 million, or $0.26 diluted earnings per share, in 2Q25 • Tangible book value per share(1) increased 0.9% to $23.39 • Quarter-over-quarter earnings were impacted by a $1.7 million pre-tax increase in provision and
Slide 5: Loan Portfolio
Loan Portfolio Loan Portfolio Details Loan Production & Loan Payoffs ($ in millions) • Total loans held for investment increased $114.4 million from prior $200 quarter due to strong loan production $166.9 $153.8 $150 $122.6 • New loan production well diversified across markets and loan types $100.3
Slide 6: Total Deposits
Total Deposits • Total deposits increased 0.4% from $2.52 billion in 1Q25 to $2.53 billion in 2Q25 • Noninterest-bearing deposits decreased 11.7% from $410 million in 1Q25 to $362 million in 2Q25 primarily due to seasonal outflow for tax payments and operating account fluctuations • Interest-bearing
Slide 7: Trust and Investment Management
Trust and Investment Management • Total assets under management increased $320 million, or 4.5%, during the quarter to $7.50 billion • The increase in AUM from 1Q25 was primarily driven by improving market conditions • Compared to 2Q24, total AUM increased 6.9% from $7.01 billion Total Assets Under
Slide 8: Gross Revenue
Gross Revenue • Gross revenue(1) decreased 1.6% from prior quarter • Net interest income increased 2.3% from prior quarter primarily driven by net interest margin expansion • Non-interest income decreased $1.0 million from prior quarter driven primarily by one-time items positively impacting prior q
Slide 9: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin • Net interest income increased $0.4 million, or 2.3%, from $17.5 million in 1Q25 to $17.9 million, primarily driven by a 6 basis point increase in net interest margin • Net interest margin increased 6 basis points during the quarter from 2.61% in 1Q25 to
Slide 10: Non-Interest Income
Non-Interest Income • Non-interest income decreased $1.0 million to $6.3 million from prior quarter driven by one-time items that positively impacted the prior quarter, partially offset by an increase in Net gain on mortgage loans • One-time items in 1Q25 included a gain on OREO of $0.5 million as w
Slide 11: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense and Efficiency Ratio • Non-interest expense decreased to $19.1 million from $19.4 million in the first quarter of 2025, primarily driven by a decrease in Salaries and employee benefits expense • Non-interest expense increased $0.1 million, or 0.52% from $19.0 million in the seco
Slide 12: Asset Quality
Asset Quality • Slight increase in NPLs and NPAs due to the addition of one credit relationship that is an active workout and secured by a residential real estate asset, business assets, and a personal guarantee • Modest amount of NCOs during the quarter • Provision expense of $1.8 million during 2Q
Slide 13: Near Term Outlook
Near Term Outlook • First Western's markets continue to perform well and the strength of our balance sheet and franchise provides opportunities to capitalize on market disruption and challenges being faced by competing banks to add new clients and banking talent • Loan and deposit pipelines remain s
Slide 14: Appendix
Appendix 14 W FIRSTWesternTRUST
Slide 15: Capital and Liquidity Overview
Capital and Liquidity Overview Tangible Common Equity / TBV per Share(1) (TCE $ in thousands) $22.47 $22.83 $23.18 $23.39 $21.99 $22.01 $22.21 $22.27 $240,000 $24 $19.87 $200,000 $16.44 $20 $160,000 $16 $120,000 $224,979 $227,323 $12 $208,760 $210,884 $213,731 $215,134 $217,147 $220,695 $187,139 $80
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated Efficiency Ratio For the Three Months Ended, (Dollars in thousands) June 30, 2024 September 30, December 31, March 31, 2025 June 30, 2025 2024 2024 Non-interest expense $ 19,001 $ 19,368 $ 20,427 $ 19,361 $ 19,099 Less: OREO expenses and write-downs 29 35 1,222 (
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Wealth Management Gross Revenue For the Three Months Ended, (Dollars in thousands) June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Total income before non-interest expense $ 18,242 $ 20,296 $ 23,540 $ 23,468 $ 20,919 Less: unrealized (loss) gai
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, (Dollars in thousands) June 30, 2024 March 31, 2025 June 30, 2025 Income before income taxes $ 1,415 $ 5,357 $ 3,317 Plus: provision for credit losses 2,334 80 1,773 Pre-tax, pre-provision net income $ 3,749 $ 5,43
First Western Financial — Q2 2025 Earnings Presentation on 6ix