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
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments196,512385,492155,98978,63873,357
Cash and cash equivalents196,512385,492155,98978,63873,357
Total current assets:196,512385,492155,98978,63873,357
Noncurrent Assets
Operating lease, right-of-use asset8,60210,72011,34110,308
Nontrade receivables     
Property, plant and equipment25,11823,9765,3205,2186,100
Intangible assets, net (including goodwill)32,10431,90224,25819,74225,615
Goodwill30,40030,58824,19119,68624,811
Intangible assets, net (excluding goodwill) 1,7041,3146756804
Deferred income tax assets6,9146,8456,0565,047
Total noncurrent assets:72,73873,44346,97540,31531,715
Other undisclosed assets2,597,4982,068,5541,770,6911,132,729979,252
TOTAL ASSETS:2,866,7482,527,4891,973,6551,251,6821,084,324
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 2002,200  
Qualified affordable housing project investments, commitment 2002,200  
Total noncurrent liabilities: 2002,200  
Other undisclosed liabilities2,625,8842,308,2481,816,4931,124,004967,449
Total liabilities:2,625,8842,308,4481,818,6931,124,004967,449
Equity
Equity, attributable to parent240,864219,041154,962127,678116,875
Additional paid in capital190,494188,629144,703142,797141,359
Accumulated other comprehensive income (loss)(1,517)223680(164)(1,285)
Retained earnings (accumulated deficit)51,88730,1899,579(14,955)(23,199)
Total equity:240,864219,041154,962127,678116,875
TOTAL LIABILITIES AND EQUITY:2,866,7482,527,4891,973,6551,251,6821,084,324

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues107,93495,42992,60063,97657,617
Investment banking revenue20,22019,02218,93519,165
Gain on disposition of assets for financial service operations5,31316,54929,27610,7044,560
Net investment income96,69361,15552,45643,77737,699
Revenues, excluding interest and dividends18,943    
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(3,682)(1,230)(4,682)(662)(180)
Gross profit:104,25294,19987,91863,31457,437
Operating expenses(19,457)(15,276)(13,627)(13,616)(12,779)
Operating income:84,79578,92374,29149,69844,658
Nonoperating income (expense)
(gains on Sales of Other Real Estate)
44    
Interest and debt expense(17,270)(5,416)(7,232)(12,990)(8,172)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(38,741)(46,227)(33,996)(26,516)(29,064)
Income from continuing operations before income taxes:28,82827,28033,06310,1927,422
Income tax expense(7,130)(6,670)(8,529)(2,183)(1,775)
Income from continuing operations:21,69820,61024,5348,0095,647
Income before gain (loss) on sale of properties:20,61024,5348,0095,647
Net income attributable to parent:21,69820,61024,5348,0095,647
Preferred stock dividends and other adjustments     (1,378)
Net income available to common stockholders, diluted:21,69820,61024,5348,0094,269

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:21,69820,61024,5348,0095,647
Other comprehensive income (loss)   8441,356(357)
Other undisclosed comprehensive loss(1,740)(457)   
Comprehensive income:19,95820,15325,3789,3655,290
Other undisclosed comprehensive income, net of tax, attributable to parent     
Comprehensive income, net of tax, attributable to parent:19,95820,15325,3789,3655,290

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: