First Western Financial, Inc. (MYFW) Financial Statements (2024 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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments297,568295,067196,512165,248171,221452,826
Cash and cash equivalents297,568295,067196,512165,248171,221452,826
Total current assets:297,568295,067196,512165,248171,221452,826
Noncurrent Assets
Operating lease, right-of-use asset9,0337,9518,6028,5839,43110,071
Nontrade receivables10,50010,000    
Property, plant and equipment25,47325,38325,11824,66824,23623,539
Intangible assets, net (including goodwill)30,40030,40032,10430,40030,40030,400
Goodwill30,40030,40030,40030,40030,40030,400
Intangible assets, net (excluding goodwill)   1,704   
Deferred income tax assets7,2026,7926,9146,8497,6627,540
Total noncurrent assets:82,60880,52672,73870,50071,72971,550
Other undisclosed assets2,625,4702,592,9142,597,4982,492,9512,298,5432,052,285
TOTAL ASSETS:3,005,6462,968,5072,866,7482,728,6992,541,4932,576,661
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt6,000     
Qualified affordable housing project investments, commitment6,000     
Total noncurrent liabilities:6,000     
Other undisclosed liabilities2,757,4042,728,6852,625,8842,493,8372,313,4692,353,395
Total liabilities:2,763,4042,728,6852,625,8842,493,8372,313,4692,353,395
Equity
Equity, attributable to parent242,242239,822240,864234,862228,024223,266
Additional paid in capital191,968191,901190,494190,038189,494189,283
Accumulated other comprehensive loss(869)(1,716)(1,517)(1,592)(1,665)(1,730)
Retained earnings51,14349,63751,88746,41640,19535,713
Total equity:242,242239,822240,864234,862228,024223,266
TOTAL LIABILITIES AND EQUITY:3,005,6462,968,5072,866,7482,728,6992,541,4932,576,661

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues20,55425,68927,20627,49526,55926,707
Investment banking revenue4,6644,7845,168
Net investment income35,24933,483 25,36420,86719,328
Revenues, excluding interest and dividends4,6024,635    
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(1,843) (1,197)(1,756)(519)(210)
Gross profit:18,71125,68926,00925,73926,04026,497
Operating expenses(4,765)(4,822)(4,998)(5,056)(4,879)(4,524)
Operating income:13,94620,86721,01120,68321,16121,973
Nonoperating income (expense)
(gains on Sales of Other Real Estate)
   341  
Interest and debt expense(17,937)(15,152)(10,663)(3,733)(1,493)(1,381)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes6,026(554)(3,050)(8,756)(13,692)(13,276)
Income from continuing operations before income taxes:2,0355,1617,3018,2355,9767,316
Income tax expense(529)(1,341)(1,830)(2,014)(1,494)(1,792)
Income from continuing operations:1,5063,8205,4716,2214,4825,524
Income before gain (loss) on sale of properties:6,2214,4825,524
Net income available to common stockholders, diluted:1,5063,8205,4716,2214,4825,524

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:1,5063,8205,4716,2214,4825,524
Other undisclosed comprehensive loss   (1,740)  (1,953)
Comprehensive income:1,5063,8203,7316,2214,4823,571
Other undisclosed comprehensive income (loss), net of tax, attributable to parent847(199)1,8157365 
Comprehensive income, net of tax, attributable to parent:2,3533,6215,5466,2944,5473,571

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.

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