Q3 2025 First Western Financial Inc Earnings Call Transcript
Key Points
- First Western Financial Inc (MYFW) reported a 45% increase in EPS compared to the third quarter of last year, indicating strong profitability growth.
- The company achieved an 8.7% increase in gross revenue from the prior quarter, driven by both net interest income and non-interest income.
- Loan production was solid and well-diversified, with new loan production reaching $146 million in the third quarter.
- The company saw a significant increase in deposits, with total deposits rising by $320 million from the end of the prior quarter.
- First Western Financial Inc (MYFW) successfully repurchased shares during the third quarter, which was accretive to tangible book value per share.
- The net interest margin (NIM) decreased by 13 basis points from the prior quarter to 2.54%, due to unfavorable mix shifts in interest-earning assets and deposits.
- Assets under management decreased by $64 million in the third quarter, primarily due to net withdrawals in low-fee product categories.
- Non-performing loans (NPLs) and non-performing assets (NPAs) saw slight increases, primarily due to one loan downgrade.
- The company experienced a decrease in trust and investment management assets, although fee income in this area increased slightly.
- Despite strong deposit growth, the increase was primarily in higher-cost money market accounts, impacting the overall cost of deposits.
Thank you for standing by and welcome to First Western Financial's 3rd quarter, 2025 earnings conference call.
At this time, all participants are in a listen-only mode.
After the speaker presentation, there will be a question-and-answer session.
To ask a question during the session, you will need to press 11 on your telephone. To remove yourself from the queue, you may press 11 again. I would now like to hand the call over to Tony Rossi. Please go ahead.
Thank you Latif. Good morning everyone and thank you for joining us today for First Western Financial's 3rd quarter 2025 earnings call. Joining us from First Western's management team are Scott Wiley, Chairman and Chief Executive Officer, Julie Corcamp, Chief Operating Officer, and David Weber, Chief Financial Officer. We'll use a slide presentation as part of our discussion this morning. If you've not done so already, please visit the events and presentations page of First Western's investor relations website to
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