MYFW earnings analysis
What we found in MYFW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
First Western Financial reported strong Q1 2026 results, with diluted EPS of $0.63 exceeding the consensus estimate of $0.44. Revenue rose to $27.538 million, marking a 25.0% increase year-over-year, driven largely by an increase in net interest income resulting from improved margins and favorable loan growth. However, non-interest income faced declines due to reduced gains on property sales and mortgage lending.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong EPS Beat
- Reported EPS of $0.63 exceeded estimates by 43.18% compared to the estimated EPS of $0.44.
- Significant Revenue Growth
- Revenue increased to $27.538 million, up from $22.063 million in Q1 2025, a 25.0% year-over-year growth.
- Improved Gross and Operating Margins
- Gross margin increased to 55.7% from 51.7% year-over-year, while operating margin improved significantly to 12.1%.
- Increase in Net Interest Income
- Net interest income rose by $3.4 million, a 19.7% increase compared to the prior year.
- Sustained Loan Growth
- Total loans reached $2.690 billion, reflecting a 1.5% increase from the previous quarter.
- Improved Cash Position
- Cash and cash equivalents surged by $63.8 million, or 31.8%, to $264.1 million compared to the end of the prior quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Non-Interest Income
- Non-interest income decreased by 9.4% to $6.7 million, affecting overall revenue diversification.
- Increased Non-Performing Assets
- Non-performing assets rose to $16.3 million, up from $16.6 million in the prior quarter.
- Rising Operational Costs
- Non-interest expenses increased by $0.8 million, or 4.1%, primarily impacting profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.63
- Gross margin
- 55.7%
- Operating margin
- 12.1%
- Segment
- Wealth Management
- Segment
- Mortgage
What they said about what is next.
No quantitative forward guidance was provided in the 10-Q filing.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- First Western positions itself as a boutique private trust bank for high‑net‑worth clients in the Western U.S., emphasizing a profit‑center hub‑and‑spoke expansion model and its ConnectView® integrated wealth platform.…
- 10-Q · October 31, 2025
- First Western reported a stronger quarter with net interest income up to $19,454,000 and total fee/other income of $6,842,000 (combined $26,296,000) for the three months ended September 30, 2025, and diluted EPS of…
- 10-K · March 7, 2025
- First Western presents a stable private trust bank model concentrated in the Western U.S., with $7.32B AUM, $2.92B total assets and a loan book of $2.43B as of December 31, 2024. Revenue/earnings show stability through…
- 10-Q · November 1, 2024
- First Western reported total income before non-interest expense of $22,039,000 and net income of $2,134,000 for the quarter ended September 30, 2024, with diluted EPS of $0.22 (down from $0.32 a year ago).…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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