First Western Financial, Inc. · NASDAQ:MYFW
First Western Financial — Q1 2026 Earnings Presentation
17 slides from First Western Financial's earnings presentation, Apr 24, 2026
Slide 1: First Quarter 2026 Conference Call
First 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 1Q26
Overview of 1Q26 • Net income available to common shareholders of $6.2 million, or $0.63, per diluted share • Diluted earnings per share increased 85% from the prior quarter, and 47% compared to 1Q25 1Q26 Earnings • Pre-tax, pre-provision net income increased $2.0 million, or 38%, compared to 4Q25,
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 $6.2 million increased 87% from 4Q25 and 48% from 1Q25 • Diluted earnings per share of $0.63 increased 85% from 4Q25 and 47% from 1Q25 • Tangible book value per share(1) increased 3.3% from $24.07 in 4Q25 to $24.87 in
Slide 5: Loan Portfolio
Loan Portfolio Loan Portfolio Details Loan Production & Loan Payoffs ($ in millions) • Total loans held for investment increased $40.7 million primarily due to $200 growth in the 1-4 family residential and Commercial and industrial portfolios $166.9 $145.7 $146.2 • Total loans held for investment in
Slide 6: Total Deposits
Total Deposits • Total deposits increased 3.5% from $2.75 billion in 4Q25 to $2.84 billion in 1Q26, due to growth in all deposit types • Noninterest-bearing deposits increased 10.2% from $345 million in 4Q25 to $380 million in 1Q26 primarily driven by operating account fluctuations • Interest-bearin
Slide 7: Trust and Investment Management
Trust and Investment Management • Total assets under management decreased $43 million, or 0.6%, during the quarter to $7.23 billion • The decrease in AUM from 4Q25 was primarily attributable to lower market values, partially offset by new accounts • Compared to 1Q25, AUM increased 0.8% from $7.18 bi
Slide 8: Gross Revenue
Gross Revenue • Gross revenue(1) increased 3.4% from $26.7 million in 4Q25 to $27.6 million in 1Q26 • Net interest income increased 1.5% from prior quarter, primarily driven by a 10 basis point increase in net interest margin • Non-interest income increased $0.6 million from prior quarter, primarily
Slide 9: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin • Net interest income increased $0.3 million, or 1.5%, from $20.6 million in 4Q25 to $20.9 million in 1Q26, primarily driven by a 10 basis point increase in net interest margin, partially offset by lower day count • Net interest margin increased 10 basis p
Slide 10: Non-Interest Income
Non-Interest Income • Non-interest income increased $0.6 million, or 9.5%, to $6.7 million from prior quarter, primarily driven by increases in Net gain on mortgage loans and Risk management and insurance fees • The increase in Net gain on mortgage loans was driven by higher origination volume • The
Slide 11: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense and Efficiency Ratio • Non-interest expense decreased to $20.2 million from $21.3 million in the fourth quarter of 2025, primarily driven by a $1.4 million Other real estate owned ("OREO") write-down in the fourth quarter of 2025 and a decrease in Professional services, partiall
Slide 12: Asset Quality
Asset Quality • Non-performing assets decreased $3.3 million to $16.3 million in 1Q26 primarily driven by the sale of the Company's last remaining OREO property and pay downs • Non-accrual loans decreased $0.3 million to $16.3 million in 1Q26 driven by pay downs • Zero charge-offs during the quarter
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) $24.07 $24.87 $22.83 $23.18 $23.39 $23.68 $280,000 $21.99 $22.01 $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 $208,760 $210,884 $80
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated Efficiency Ratio For the Three Months Ended, March 31, 2025 June 30, 2025 September 30, December 31, March 31, 2026 (Dollars in thousands) 2025 2025 Non-interest expense $ 19,361 $ 19,099 $ 20,074 $ 21,306 $ 20,164 Less: OREO expenses and write-downs (80) 53 8 1,
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, December 31, (Dollars in thousands) March 31, 2025 March 31, 2026 2025 Income before income taxes $ 5,357 $ 4,435 $ 8,103 Plus: provision for (release of) credit losses 80 915 (728) Pre-tax, pre-provision net incom
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