First Western Financial, Inc. · NASDAQ:MYFW
First Western Financial — Q4 2025 Earnings Presentation
18 slides from First Western Financial's earnings presentation, Jan 23, 2026
Slide 1: Fourth Quarter 2025 Conference Call
Fourth 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 4Q25
Overview of 4Q25 • Net income available to common shareholders of $3.3 million or $0.34 per diluted share • Diluted earnings per share increased 6% from the prior quarter, and 21% compared to 4Q24 4Q25 Earnings • 4Q25 included a $1.4 million write-down in Other real estate owned ("OREO") that negati
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 $3.3 million, or $0.34 diluted earnings per share, in 4Q25 • Tangible book value per share(1) increased 1.6% to $24.07 • 4Q25 included a $1.4 million write-down in OREO that negatively impacted diluted EPS by $0.10 Ne
Slide 5: Loan Portfolio
Loan Portfolio Loan Portfolio Details Loan Production & Loan Payoffs ($ in millions) • Total loans held for investment increased $59.4 million from prior $200 $166.9 quarter due to strong loan production $145.7 $146.2 $150 $122.6 $110.1 • New loan production diversified across markets and loan types
Slide 6: Total Deposits
Total Deposits • Total deposits decreased 3.5% from $2.85 billion in 3Q25 to $2.75 billion in 4Q25, primarily driven by decreases in money market deposit accounts and Noninterest-bearing deposits • Interest-bearing deposits decreased 2.8% from $2.47 billion in 3Q25 to $2.40 billion in 4Q25 primarily
Slide 7: Trust and Investment Management
Trust and Investment Management • Total assets under management decreased $155 million, or 2.1%, during the quarter to $7.28 billion • The decrease in AUM from 3Q25 was primarily attributable to net withdrawals in low-fee and fixed-fee product categories • Investment agency AUM increased $15 million
Slide 8: Gross Revenue
Gross Revenue • Gross revenue(1) increased 1.5% from $26.3 million in 3Q25 to $26.7 million in 4Q25 • Net interest income increased 5.6% from prior quarter primarily driven by a 17 basis point increase in net interest margin • Non-interest income decreased $0.8 million from prior quarter primarily d
Slide 9: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin • Net interest income increased $1.1 million, or 5.6%, from $19.5 million in 3Q25 to $20.6 million in 4Q25, primarily driven by a 17 basis point increase in net interest margin • Net interest margin increased 17 basis points during the quarter from 2.54% i
Slide 10: Non-Interest Income
Non-Interest Income • Non-interest income decreased $0.8 million to $6.1 million from prior quarter primarily driven by decreases in Net gain on mortgage loans and Risk management and insurance fees • The decrease in Net gain on mortgage loans was driven by an increase in commissions due to higher f
Slide 11: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense and Efficiency Ratio • Non-interest expense increased to $21.3 million from $20.1 million in the third quarter of 2025, primarily driven by a $1.4 million OREO write-down and an increase in Professional services, partially offset by decreases in Occupancy and equipment and Salar
Slide 12: Asset Quality
Asset Quality • NPAs decreased $3.1 million to $19.6 million in 4Q25 primarily driven by a write-down of OREO, pay downs, and a charge-off • Non-accrual loans decreased $1.7 million to $16.6 million in 4Q25 • NPA/Total Assets of 0.53% when excluding OREO under contract that is anticipated to close i
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 market president added in Arizo
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) $23.18 $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 $208,760 $210,884 $80,000 $187,139 $8
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated Efficiency Ratio For the Three Months Ended, December 31, March 31, 2025 June 30, 2025 September 30, December 31, (Dollars in thousands) 2024 2025 2025 Non-interest expense $ 20,427 $ 19,361 $ 19,099 $ 20,074 $ 21,306 Less: OREO expenses and write-downs 1,222 (80
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Wealth Management Gross Revenue For the Three Months Ended, (Dollars in thousands) December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 Total income before non-interest expense $ 23,540 $ 23,468 $ 20,919 $ 22,278 $ 24,331 Less: unrealized (loss)
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, Pre-Provision Net Income For the Three Months Ended, September 30, (Dollars in thousands) December 31, 2024 December 31, 2025 2025 Income before income taxes $ 3,914 $ 3,965 $ 4,435 Plus: (release of) provision for credit losses (974) 2,257 915 Pre-tax, pre-provision
First Western Financial — Q4 2025 Earnings Presentation on 6ix