Fourth Quarter 2024 Financial Summary

Key Financial Metrics

Net income available to common shareholders of $2.7 million in Q4 2024, compared to $2.1 million in Q3 2024. This represents a positive growth trend for the company.

Diluted earnings per share also saw an increase, reaching $0.28 in Q4 2024 compared to $0.22 in Q3 2024. This indicates improved profitability on a per-share basis.

Net interest income showed strong performance, reaching $16.9 million in Q4 2024 compared to $15.6 million in Q3 2024. This demonstrates the company’s ability to generate income from its core operations.

The net interest margin increased by 13 basis points from 2.32% in Q3 2024 to 2.45% in Q4 2024. This improvement reflects better management of interest rate risk and efficient deployment of capital.

Total loans increased by 2.1%, from $2.40 billion in Q3 2024 to $2.45 billion in Q4 2024. This growth in loan portfolio indicates expanding business opportunities and increased lending activity.

Average deposits also showed a positive trend, rising by 4.0% from $2.40 billion in Q3 2024 to $2.50 billion in Q4 2024. This increase in deposits highlights the company’s ability to attract and retain customer funds.

Financial Performance

First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW) reported strong financial results for the fourth quarter ended December 31, 2024. The company achieved a net income available to common shareholders of $2.7 million, or $0.28 per diluted share, in Q4 2024.

Impact on Individuals

For individual investors, the positive financial results of First Western can signify a potentially lucrative investment opportunity. A company showing growth in key financial metrics like net income, earnings per share, and loan portfolio can attract investors looking for strong returns.

Impact on the World

From a broader perspective, the financial performance of First Western can contribute to the overall stability and growth of the financial sector. A healthy and profitable company like First Western can drive economic growth, create jobs, and support community development initiatives.

Conclusion

In conclusion, the fourth quarter 2024 financial summary of First Western Financial, Inc. showcases positive growth and performance indicators. The company’s ability to increase net income, earnings per share, net interest income, loan portfolio, and average deposits reflects a strong and resilient financial position. This is not only beneficial for individual investors but also for the broader economy, contributing to overall financial stability and growth.