Q1 2026 First Western Financial Inc Earnings Call Transcript
Key Points
- First Western Financial Inc (MYFW) reported an 85% increase in EPS quarter over quarter, indicating strong profitability.
- The company experienced a solid level of loan production, with new loan production totaling $116 million in the first quarter.
- Net interest margin expanded by 10 basis points to 2.81%, driven by a reduction in the cost of funds.
- Noninterest income increased by approximately $600,000 from the prior quarter, with gains in mortgage loan sales and trust and investment management fees.
- The company saw a 10% increase in noninterest-bearing deposits, contributing to a healthier loan-to-deposit ratio below 95%.
- Despite positive trends, the company remains cautious about the pace of net interest margin expansion, which may not match the previous year's growth.
- There is potential for seasonal declines in noninterest-bearing deposits in the second quarter due to tax payments.
- The geopolitical situation, such as the Iran War, could potentially impact client behavior, although no effects have been observed yet.
- The company faces competitive pressure in deposit pricing, although it has not yet led to significant rate increases.
- While the company is focused on organic growth, it has not announced any new branch openings or acquisitions, which could limit expansion opportunities.
Good day, and thank you for standing by. Welcome to the First Western Financial first-quarter 2026 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
Now it's my pleasure to hand the conference to Tony Rossi. Please proceed.
Thank you, Carmen. Good morning, everyone, and thank you for joining us today for First Western Financial's first-quarter 2026 earnings call. Joining us from First Western's management team are: Scott Wylie, Chairman and Chief Executive Officer; Julie Courkamp, Chief Operating Officer; and David Weber, Chief Financial Officer.
We'll use a slide presentation as part of our discussion this morning. If you have not done so already, please visit the Events and Presentations page of First Western's Investor Relations website to download a copy of the presentation.
Before we begin, I'd like to remind you that this conference call contains forward-looking statements with respect to the future
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