First Western Financial Inc. (MYFW) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
1900 SIXTEENTH ST, #1200 DENVER, CO 80202 |
| State of Incorp. | CO |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6022 - State Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 254,442 | 196,512 | 385,492 | 155,989 | 78,638 | 73,357 | |||
| Cash and cash equivalents | 254,442 | 196,512 | 385,492 | 155,989 | 78,638 | 73,357 | |||
| Debt securities, held-to-maturity, accrued interest, after allowance for credit loss | ✕ | 400 | ✕ | ✕ | |||||
| Total current assets: | 254,842 | 196,512 | 385,492 | 155,989 | 78,638 | 73,357 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 8,929 | 8,602 | 10,720 | 11,341 | 10,308 | ✕ | |||
| Nontrade receivables | 10,800 | ||||||||
| Property, plant and equipment | 25,256 | 25,118 | 23,976 | 5,320 | 5,218 | 6,100 | |||
| Intangible assets, net (including goodwill) | 31,854 | 32,104 | 31,902 | 24,258 | 19,742 | 25,615 | |||
| Goodwill | 30,400 | 30,400 | 30,588 | 24,191 | 19,686 | 24,811 | |||
| Intangible assets, net (excluding goodwill) | 1,454 | 1,704 | 1,314 | 67 | 56 | 804 | |||
| Deferred income tax assets | 6,407 | 6,914 | 6,845 | 6,056 | 5,047 | ✕ | |||
| Total noncurrent assets: | 83,246 | 72,738 | 73,443 | 46,975 | 40,315 | 31,715 | |||
| Other undisclosed assets | 2,637,374 | 2,597,498 | 2,068,554 | 1,770,691 | 1,132,729 | 979,252 | |||
| TOTAL ASSETS: | 2,975,462 | 2,866,748 | 2,527,489 | 1,973,655 | 1,251,682 | 1,084,324 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 4,900 | 200 | 2,200 | ||||||
| Investment program, proportional amortization method, elected, commitment | 4,900 | 200 | 2,200 | ||||||
| Total noncurrent liabilities: | 4,900 | 200 | 2,200 | ||||||
| Other undisclosed liabilities | 2,727,824 | 2,625,884 | 2,308,248 | 1,816,493 | 1,124,004 | 967,449 | |||
| Total liabilities: | 2,732,724 | 2,625,884 | 2,308,448 | 1,818,693 | 1,124,004 | 967,449 | |||
| Equity | |||||||||
| Equity, attributable to parent | 242,738 | 240,864 | 219,041 | 154,962 | 127,678 | 116,875 | |||
| Additional paid in capital | 192,894 | 190,494 | 188,629 | 144,703 | 142,797 | 141,359 | |||
| Accumulated other comprehensive income (loss) | (1,198) | (1,517) | 223 | 680 | (164) | (1,285) | |||
| Retained earnings (accumulated deficit) | 51,042 | 51,887 | 30,189 | 9,579 | (14,955) | (23,199) | |||
| Total equity: | 242,738 | 240,864 | 219,041 | 154,962 | 127,678 | 116,875 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,975,462 | 2,866,748 | 2,527,489 | 1,973,655 | 1,251,682 | 1,084,324 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 82,698 | 107,934 | 95,429 | 92,600 | 63,976 | 57,617 | ||
| Investment banking revenue | ✕ | ✕ | ✕ | 20,220 | 19,022 | 18,935 | 19,165 | |
| Gain on disposition of assets for financial service operations | 2,826 | 5,313 | 16,549 | 29,276 | 10,704 | 4,560 | ||
| Net investment income | 141,140 | 96,693 | 61,155 | 52,456 | 43,777 | 37,699 | ||
| Revenues, excluding interest and dividends | 18,788 | 18,943 | ||||||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (12,077) | (3,682) | (1,230) | (4,682) | (662) | (180) | ||
| Gross profit: | 70,621 | 104,252 | 94,199 | 87,918 | 63,314 | 57,437 | ||
| Operating expenses | (2,403) | (19,457) | (15,276) | (13,627) | (13,616) | (12,779) | ||
| Operating income: | 68,218 | 84,795 | 78,923 | 74,291 | 49,698 | 44,658 | ||
| Nonoperating income (expense) (gains on Sales of Other Real Estate) | 44 | |||||||
| Interest and debt expense | (74,453) | (17,270) | (5,416) | (7,232) | (12,990) | (8,172) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 13,296 | (38,741) | (46,227) | (33,996) | (26,516) | (29,064) | ||
| Income from continuing operations before income taxes: | 7,061 | 28,828 | 27,280 | 33,063 | 10,192 | 7,422 | ||
| Income tax expense | (1,836) | (7,130) | (6,670) | (8,529) | (2,183) | (1,775) | ||
| Income from continuing operations: | 5,225 | 21,698 | 20,610 | 24,534 | 8,009 | 5,647 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 20,610 | 24,534 | 8,009 | 5,647 | |
| Net income attributable to parent: | 5,225 | 21,698 | 20,610 | 24,534 | 8,009 | 5,647 | ||
| Preferred stock dividends and other adjustments | (1,378) | |||||||
| Net income available to common stockholders, diluted: | 5,225 | 21,698 | 20,610 | 24,534 | 8,009 | 4,269 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 5,225 | 21,698 | 20,610 | 24,534 | 8,009 | 5,647 | ||
| Other comprehensive income (loss) | 844 | 1,356 | (357) | |||||
| Other undisclosed comprehensive loss | (1,740) | (457) | ||||||
| Comprehensive income: | 5,225 | 19,958 | 20,153 | 25,378 | 9,365 | 5,290 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 319 | |||||||
| Comprehensive income, net of tax, attributable to parent: | 5,544 | 19,958 | 20,153 | 25,378 | 9,365 | 5,290 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.