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.…
Earnings analysis · 10-Q
MYFW earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.63
- Segment
- Wealth Management
- Segment
- Mortgage
What stood out
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Strong EPS Beat
Reported EPS of $0.63 exceeded estimates by 43.18% compared to the estimated EPS of $0.44.
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Significant Revenue Growth
Revenue increased to $27.538 million, up from $22.063 million in Q1 2025, a 25.0% year-over-year growth.
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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%.
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Increase in Net Interest Income
Net interest income rose by $3.4 million, a 19.7% increase compared to the prior year.
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Sustained Loan Growth
Total loans reached $2.690 billion, reflecting a 1.5% increase from the previous quarter.
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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.
What to watch
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Decline in Non-Interest Income
Non-interest income decreased by 9.4% to $6.7 million, affecting overall revenue diversification.
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Increased Non-Performing Assets
Non-performing assets rose to $16.3 million, up from $16.6 million in the prior quarter.
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Rising Operational Costs
Non-interest expenses increased by $0.8 million, or 4.1%, primarily impacting profitability.
Management's outlook
No quantitative forward guidance was provided in the 10-Q filing.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.