What is the market's earnings forecast for First Western Financial next quarter?

What is First Western Financial's gross profit margin?

What guidance did First Western Financial's management provide for the next earnings period?

What factors drove the changes in First Western Financial's revenue and profit?

What does First Western Financial do and what are its main business segments?

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Did First Western Financial beat or miss consensus estimates last quarter?

- **Revenue Growth**: Q3 net income up 45% Y/Y to $3.2M, driven by 8.7% Q/Q gross revenue growth and 25% Y/Y NII expansion.
- **Balance Sheet Strength**: Loans +$50M, deposits +$320M, with sticky new relationships and disciplined underwriting.
- **Margin Outlook**: Q4 NIM expansion of 5bps expected, with long-term target of 3.15%-3.25% NIM.
- **Strategic Moves**: Arizona expansion via former First Republic leader; fee income diversification with +$10k in high-margin trust fees.
- **Risk Management**: Minimal asset quality issues; 81bps allowance coverage vs. 75bps prior quarter.

**【CEO Summary Section】**
- **Q3 Financial Highlights**: Net income of $3.2 million ($0.32 per diluted share), up 45% year-over-year. Tangible book value per share increased 1.2%.
- **Loan and Deposit Growth**: Loans held for investment rose $50 million, driven by disciplined underwriting in CRE and residential sectors. Deposits grew $320 million, with noninterest-bearing deposits up due to title company inflows.
- **Strategic Focus**: Maintained conservative underwriting despite competitive pricing, prioritizing service over rate discounts. Share buybacks accretive to book value.
- **Outlook**: Expect continued loan/deposit growth, NIM expansion, and fee income growth in Q4, supported by strong pipelines and economic conditions.

**【CFO Financial Commentary】**
- **Net Interest Income (NII)**: Increased 8.9% Q/Q and 25% Y/Y, but NIM declined 13bps to 2.54% due to higher-cost deposits. Liquidity redeployment expected to drive Q4 NIM expansion of ~5bps.
- **Noninterest Income**: Up 8.5% Q/Q ($500k+ growth), driven by trust fees (+$10k) and mortgage gains. Fee income growth offset AUM decline in low-margin products.
- **Expense Management**: Noninterest expenses rose <1% Q/Q, with incentive comp tied to revenue growth. Efficiency ratio improving with operating leverage.
- **Asset Quality**: Minimal charge-offs; NPLs/NPAs up slightly due to one C&I downgrade, with adequate provisioning.

**【Q&A Highlights】**
- **Deposit Growth Sustainability**: New deposits sticky due to relationship-driven strategy; September deposit cost decline to 3.04% from peak 3.22%. Beta on MMDAs at 63%.
- **Margin Expansion Path**: Q4 NIM expansion via loan redeployment; long-term target of 3.15%-3.25% NIM seen as achievable with rate cuts.
- **Wealth Management Strategy**: AUM down $64M in low-fee products, but fee income up $10k in high-margin agency accounts. New team leadership driving progress.
- **Arizona Expansion**: Hired former First Republic executive to build franchise, targeting $4-6B market share in Phoenix metro.
- **Balance Sheet Management**: $50M in floating-rate bonds added to portfolio; loan pipeline supports Q4 growth without aggressive asset repricing.

First Western Financial, Inc. (MYFW) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

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Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

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Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

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Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

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Other Comprehensive Income

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Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

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Diluted EPS

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Diluted EPS from Discontinued Operations

MYFW

MYFW fundamentals

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