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First Western Financial Inc (MYFW)
NASDAQ:MYFW
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.26Last Year’s EPS
0.26Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 24, 2019
|% Change Since: 16.22%
|Next Earnings Date:Oct 25, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted positive trends in profitability, loan production, and net interest margin expansion, reflecting strong financial performance. However, challenges such as a decrease in assets under management, a decline in noninterest income, and an OREO write-down were also noted. The overall sentiment is cautiously optimistic, with expectations for continued improvement in 2025.Company Guidance
During First Western Financial's Q4 2024 earnings call, the management team provided guidance for 2025, emphasizing expected improvements in financial performance. CEO Scott Wylie highlighted a strategic focus on maintaining a loan-to-deposit ratio in the mid-90% range and reducing deposit costs, which contributed to a net interest margin expansion to 2.45%, up 13 basis points from the previous quarter. The company achieved a net income of $2.7 million, or $0.28 per diluted share, despite a $1.1 million write-down in OREO. Loan production reached $94 million, with an increase in commercial loans and residential mortgages. The tangible book value per share grew by 1.6%, and deposit gathering efforts led to an $11 million increase in total deposits. For 2025, First Western anticipates continued loan growth, further expansion of the net interest margin, and enhanced fee income, particularly from risk management and insurance fees. The company also aims to maintain disciplined expense control, projecting quarterly noninterest expenses around $20 million. Overall, management expressed optimism about capitalizing on market opportunities and enhancing shareholder value in the coming year.Increased Profitability in Q4 2024
Generated net income of $2.7 million or $0.28 per diluted share, an increase from the prior quarter. Tangible book value per share increased by 1.6%.
Record Loan Production
Achieved the highest level of loan production in any quarter of 2024, with new loan production at $94 million, up from $83 million in Q3.
Net Interest Margin Expansion
Net interest income increased by 8.3% from the prior quarter, with net interest margin increasing by 13 basis points to 2.45%.
Decrease in Nonperforming Assets
Positive trends in asset quality led to a decline in nonperforming assets to total assets and another quarter of immaterial charge-offs.
Strong Performance in Risk Management and Insurance Fees
Achieved a record quarter in risk management and insurance fees, totaling $1.1 million, double the level from the same quarter in the prior year.
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MYFW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MYFW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $18.13 | $20.05 | +10.59% |
| Oct 24, 2024 | $20.53 | $19.12 | -6.87% |
| Jul 23, 2024 | $19.90 | $18.40 | -7.54% |
| Apr 18, 2024 | $13.65 | $14.80 | +8.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Western Financial Inc (MYFW) report earnings?
First Western Financial Inc (MYFW) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is First Western Financial Inc (MYFW) earnings time?
First Western Financial Inc (MYFW) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MYFW EPS forecast?
MYFW EPS forecast for the fiscal quarter 2025 (Q1) is 0.26.
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