First Western Financial, Inc. · NASDAQ:MYFW
First Western Financial — Q3 2025 Earnings Presentation
18 slides from First Western Financial's earnings presentation, Oct 24, 2025
Slide 1: Third Quarter 2025 Conference Call
Third 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 3Q25
Overview of 3Q25 • Net income available to common shareholders of $3.2 million or $0.32 per diluted share • Diluted earnings per share increased 23% from the prior quarter, and 45% compared to 3Q24 3Q25 Earnings • Pre-tax, pre-provision net income increased 22% from the prior quarter, and 96% compar
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 $3.2 million, or $0.32 diluted earnings per share, in 3Q25 • Tangible book value per share(1) increased 1.2% to $23.68 Net Income Available to Common Shareholders Diluted Earnings per Share $5,000 $0.50 $0.43 $4,185 $
Slide 5: Loan Portfolio
Loan Portfolio Loan Portfolio Details Loan Production & Loan Payoffs ($ in millions) $200 • Total loans held for investment increased $50.4 million from prior $166.9 quarter due to strong loan production $153.8 $145.7 $150 $122.6 • New loan production well diversified across markets and loan types $
Slide 6: Total Deposits
Total Deposits • Total deposits increased 12.6% from $2.53 billion in 2Q25 to $2.85 billion in 3Q25 • Interest-bearing deposits increased 13.8% from $2.17 billion in 2Q25 to $2.47 billion in 3Q25 primarily driven by growth in money market deposit accounts • Noninterest-bearing deposits increased 3.9
Slide 7: Trust and Investment Management
Trust and Investment Management • Total assets under management (AUM) decreased $64 million, or 0.9%, during the quarter to $7.43 billion • The decrease in AUM from 2Q25 was primarily attributable to net withdrawals in low fee product categories • Investment agency AUM increased $43 million, or 2.7%
Slide 8: Gross Revenue
Gross Revenue • Gross revenue(1) increased 8.7% from $24.2 million in 2Q25 to $26.3 million in 3Q25 • Net interest income increased 8.9% from prior quarter primarily driven by an increase in average interest- earnings assets, partially offset by a 13 basis point decrease in net interest margin • Non
Slide 9: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin • Net interest income increased $1.6 million, or 8.9%, from $17.9 million in 2Q25 to $19.5 million, primarily driven by an increase in average interest-earnings assets, partially offset by a 13 basis point decrease in net interest margin • Net interest mar
Slide 10: Non-Interest Income
Non-Interest Income • Non-interest income increased $0.5 million to $6.8 million from prior quarter driven primarily by increases in Net gain on mortgage loans, Risk management and insurance fees, and Trust and investment management fees • Higher level of mortgage production contributed to an increa
Slide 11: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense and Efficiency Ratio • Non-interest expense increased to $20.1 million from $19.1 million in the second quarter of 2025, primarily driven by an increase in Salaries and employee benefits, partially offset by a decrease in Occupancy and equipment • The increase in Salaries and em
Slide 12: Asset Quality
Asset Quality • Increases in NPLs and NPAs due to the addition of one credit relationship to non-performing loans • Minimal amount of NCOs during the quarter • Provision expense of $2.3 million during 3Q25 increased ACL/Total Loans from 0.75% in 2Q25 to 0.81% in 3Q25 Non-Performing Assets/Total Asse
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 pipeline remains strong and sh
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) $23.68 $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 $230,022 $12 $208,760 $210,884 $213,731 $215,134 $217,147 $220,
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated Efficiency Ratio For the Three Months Ended, September 30, December 31, March 31, 2025 June 30, 2025 September 30, (Dollars in thousands) 2024 2024 2025 Non-interest expense $ 19,368 $ 20,427 $ 19,361 $ 19,099 $ 20,074 Less: OREO expenses and write-downs 35 1,222
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Wealth Management Gross Revenue For the Three Months Ended, (Dollars in thousands) September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Total income before non-interest expense $ 20,296 $ 23,540 $ 23,468 $ 20,919 $ 22,278 Less: unrealized gain
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, September 30, September 30, (Dollars in thousands) June 30, 2025 2024 2025 Income before income taxes $ 2,671 $ 3,317 $ 3,965 Plus: provision for credit losses 501 1,773 2,257 Pre-tax, pre-provision net income $ 3,
First Western Financial — Q3 2025 Earnings Presentation on 6ix