Quarterly ResultMay 1, 2026, 04:22 PM
First Western Q1 Net Income +48.3% to $6.21M; EPS $0.64
AI Summary
First Western Financial Inc. reported a significant increase in net income and earnings per share for the first quarter of 2026. Net income available to common shareholders rose by 48.3% to $6.21 million, with basic EPS increasing to $0.64. The company also saw strong growth in net interest income, which climbed by 19.7% to $20.88 million, and experienced a release of provision for credit losses. Total assets grew to $3.24 billion, and deposits increased to $2.84 billion.
Key Highlights
- Net income available to common shareholders increased 48.3% to $6.21 million.
- Basic earnings per common share rose to $0.64, up from $0.43 in Q1 2025.
- Net interest income grew 19.7% to $20.88 million.
- Company reported a release of provision for credit losses of $0.73 million.
- Total assets increased 2.7% to $3.24 billion as of March 31, 2026.
- Total deposits increased 3.5% to $2.84 billion as of March 31, 2026.
- Net cash provided by operating activities surged 90.4% to $15.26 million.
Price Impact
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