An update from First Western Financial ( (MYFW) ) is now available.
First Western Financial, Inc. reported a notable increase in third-quarter 2024 net income to $2.1 million, up from $1.1 million in the previous quarter, driven by strategic balance sheet management and a significant rise in noninterest-bearing deposits. CEO Scott C. Wylie highlighted the company’s focused approach on risk management, cost control, and future growth investments, positioning First Western for potential loan growth and improved profitability in 2025 amidst declining interest rates. Positive trends in asset quality and an increase in book value underscore First Western’s strengthened financial performance.
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