First Western Financial, Inc. · NASDAQ:MYFW
First Western Financial — Q2 2026 Earnings Presentation
17 slides from First Western Financial's earnings presentation, Jul 24, 2026
Slide 1: Second Quarter 2026 Conference Call
Second Quarter 2026 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 2Q26
Overview of 2Q26 • Net income available to common shareholders of $5.7 million, or $0.57, per diluted share • Diluted earnings per share increased $0.31, or 119%, compared to 2Q25 2Q26 Earnings • Pre-tax, pre-provision net income increased $1.8 million, or 36%, compared to 2Q25 • Continued focus on
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 $5.7 million increased 129% from 2Q25 • Diluted earnings per share of $0.57 increased 119% from 2Q25 • Tangible book value per share(1) increased 2.6% from $24.87 in 1Q26 to $25.53 in 2Q26 Net Income Available to Comm
Slide 5: Loan Portfolio
Loan Portfolio Loan Portfolio Details Loan Production & Loan Payoffs ($ in millions) • Total loans held for investment increased $23.1 million primarily due to growth in the 1-4 family residential and Cash, securities, and other portfolios $200 $166.9 • Total loans held for investment increased for
Slide 6: Total Deposits
Total Deposits • Total deposits increased 0.4% from $2.84 billion in 1Q26 to $2.85 billion in 2Q26 due to growth in money market accounts, partially offset by a decrease in time deposit accounts • Noninterest-bearing deposits increased 0.5% from $380.1 million in 1Q26 to $381.8 million in 2Q26 • Ave
Slide 7: Trust and Investment Management
Trust and Investment Management • Total assets under management (AUM) increased $41 million, or 0.6%, during the quarter to $7.28 billion • The increase in AUM from 1Q26 was primarily attributable to improving market conditions • Investment Agency AUM increased $91 million, or 5.6%, in the quarter a
Slide 8: Gross Revenue
Gross Revenue • Gross revenue(1) increased 1.8% from $27.6 million in 1Q26 to $28.1 million in 2Q26 • Net interest income increased 4.3% from the prior quarter, primarily driven by a 9 basis point increase in net interest margin • Non-interest income decreased $0.3 million from the prior quarter, pr
Slide 9: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin • Net interest income increased $0.9 million, or 4.3%, from $20.9 million in 1Q26 to $21.8 million in 2Q26, primarily driven by a 9 basis point increase in net interest margin and an increase in day count • Net interest margin increased 9 basis points duri
Slide 10: Non-Interest Income
Non-Interest Income • Non-interest income decreased $0.3 million, or 4.1%, to $6.4 million from the prior quarter, primarily driven by decreases in Net gain on mortgage loans and Risk management and insurance fees, partially offset by an increase in Bank fees • The decrease in Net gain on mortgage l
Slide 11: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense and Efficiency Ratio • Non-interest expense increased to $21.2 million from $20.2 million in the first quarter of 2026, primarily driven by increases in Technology and information systems, Data processing, and Marketing • The increase in Technology and information systems was pr
Slide 12: Asset Quality
Asset Quality • Stable non-performing assets and non-accrual loans in 2Q26 • Zero charge-offs for the second consecutive quarter • Decreased reserve on individually analyzed loans and improved economic forecasts contributed to a provision release of $0.5 million during 2Q26 • ACL/Total loans at 0.75
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 • New leadership added in Arizona, wh
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) $24.87 $25.53 $23.18 $23.39 $23.68 $24.07 $280,000 $21.99 $22.01 $22.83 $19.87 $24 $240,000 $16.44 $20 $200,000 $16 $160,000 $12 $120,000 $220,695 $224,979 $227,323 $230,022 $234,138 $241,992 $249,268 $208,
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated Efficiency Ratio For the Three Months Ended, June 30, 2025 September 30, December 31, March 31, 2026 June 30, 2026 (Dollars in thousands) 2025 2025 Non-interest expense $ 19,099 $ 20,074 $ 21,306 $ 20,164 $ 21,217 Less: write-off of capitalized technology assets
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, (Dollars in thousands) June 30, 2025 March 31, 2026 June 30, 2026 Income before income taxes $ 3,317 $ 8,103 $ 7,401 Plus: provision for (release of) credit losses 1,773 (728) (469) Pre-tax, pre-provision net incom
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