icon
icon
icon
icon
Upgrade
Upgrade

News /

Articles /

First Western Financial's Q4 2024 Earnings: A Tale of Growth and Improvement

Wesley ParkSaturday, Jan 25, 2025 3:28 am ET
9min read


As we step into 2025, let's take a closer look at First Western Financial, Inc. (MYFW) and its impressive performance in the fourth quarter of 2024. The company reported strong earnings, driven by growth in loan and deposit balances, improved asset quality, and a robust net interest margin. Here's a breakdown of the key takeaways and what they mean for the company's future.



Growth in Loan and Deposit Balances

First Western Financial saw a 2.1% increase in total loans, reaching $2.45 billion in Q4 2024, compared to $2.40 billion in Q3 2024. Additionally, average deposits grew by 4.0% to $2.50 billion in Q4 2024. This growth in both loan and deposit balances is a positive sign, indicating an increase in interest-earning assets and a stable funding base. Scott C. Wylie, CEO of First Western, attributed this growth to well-diversified loan production and strong expense control.

q3 2024 to q4 2024's interest expenses on deposits increase(6524)
Interest Expenses on Deposits interval growth value2024.09.30-2024.12.31
3.43B
2.14B
10.88M
10.81M
5.58M
4.68M
1.32M
1.28M
1.23M
962.00K
Ticker
MFGMizuho Financial Group
MUFGMitsubishi Ufj
WAFDWaFd
AXAxos Financial
FNBF.N.B.
TFSLTfs Financial
ESSAESSA Bancorp
NBNNortheast Bank
CFFNCapitol Federal Financial
RVSBRiverview Bancorp
View 6524 resultsmore


Improved Asset Quality and Provision for Credit Losses

The company reported a release of provision for credit losses of $974,000 in Q4 2024, compared to a provision of $501,000 in Q3 2024. This improvement in provision for credit losses indicates a lower risk profile and contributes to the company's net income. Wylie mentioned that the company saw positive trends in its asset quality, suggesting that this improvement is not a one-time event but a result of overall improvement in the quality of the company's assets.

from q3 2024 to q4 2024's provision for credit losses(6524)
Provision for Credit Losses(USD)2024.09.30
Provision for Credit Losses(USD)2024.12.31
2.48B 2.64B
3.11B 2.63B
2.68B 2.59B
553.42M 1.66B
1.54B 1.45B
1.47B 1.20B
1.07B 1.10B
656.24M 1.09B
776.47M795.61M
761.99M738.93M
Ticker
COFCapital One
JPMJpmorgan Chase
CCitigroup
HDBHDFC Bank
BACBank Of America
DFSDiscover Financial
WFCWells Fargo
BMOBank of Montreal
TDThe Toronto-Dominion Bank
BNSThe Bank of Nova Scotia
View 6524 resultsmore


Net Interest Income and Margin

First Western Financial reported a net interest income of $16.9 million in Q4 2024, up from $15.6 million in Q3 2024. The net interest margin increased by 13 basis points to 2.45% in Q4 2024, driven by an increase in average interest-earning assets and expansion in the net interest margin. This growth in net interest income and margin is a positive trend, indicating improved profitability.

q3 2024 to q4 2024's net interest income(6524)
Net Interest Income(USD)2024.09.30
Net Interest Income(USD)2024.12.31
23.41B23.35B
13.97B14.36B
13.36B13.73B
11.69B11.84B
8.08B 8.10B
5.49B 5.70B
5.31B 5.50B
3.94B 4.35B
4.18B 4.29B
4.14B 4.15B
Ticker
JPMJpmorgan Chase
BACBank Of America
CCitigroup
WFCWells Fargo
COFCapital One
TDThe Toronto-Dominion Bank
RYRoyal Bank Of Canada
MUFGMitsubishi Ufj
HDBHDFC Bank
USBU.S. Bancorp
View 6524 resultsmore


Looking Ahead

First Western Financial's strong performance in Q4 2024 sets the stage for an even more promising 2025. The company is well-positioned to deliver improved financial performance, driven by positive trends in loan and deposit growth, net interest margin, non-interest income, and more operating leverage. The company's balance sheet strength, combined with the improvement in asset quality, positions it well to manage risks and generate profitable growth in the future.

In conclusion, First Western Financial's Q4 2024 earnings call was a testament to the company's growth and improvement. With a strong balance sheet, improved asset quality, and a robust net interest margin, the company is well-positioned to continue its positive momentum in 2025. As an investor, keeping an eye on First Western Financial could prove to be a wise decision.

Word count: 598
Comments

Post
MALAY JANE
01/25

Wow all thanks to EMILY E. HENRY,
I never knew that she was very good in crypto trading and finance management, I was into stock trading for pass years, I've been losing a lot of money in stocks trading, but when a friend of mine referred me to her financial adviser EMILY E. HENRY on Facebook. I'm life was transformed. Now I've achieved my dreams through my investment journey with Emily E Henry.  

0
comoestas969696
01/25
@MALAY JANE Good.
0
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
You Can Understand News Better with AI.
Whats the News impact on stock market?
Its impact is
fork
logo
AInvest
Aime Coplilot
Invest Smarter With AI Power.
Open App