← First Western Financial Inc
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | $5.6m | $8.0m | $24.5m | $20.6m | $21.7m | $5.2m | $8.5m | $13.2m | |
| Net amortization of investment securities | $178k | $226k | $442k | $131k | $130k | ($14k) | ($75k) | $15k | |
| Depreciation and amortization | $2.2m | $1.7m | $1.1m | $1.3m | $2.0m | $2.4m | $2.6m | $2.6m | |
| Net amortization of purchase accounting adjustments | — | — | — | $187k | $55k | $457k | $138k | $621k | |
| Deferred income tax (benefit) expense | $1.8m | ($1.2m) | ($1.3m) | ($668k) | $557k | $2.1m | $3.1m | ($770k) | |
| Cash paid for withholding taxes on share-based awards | — | — | — | — | — | ($439k) | ($706k) | ($802k) | |
| Provision for credit losses | $180k | $662k | $4.7m | $1.2m | $3.7m | $10.4m | $1.9m | $5.0m | |
| Net (gain) loss on loans held for sale | — | — | — | — | $12k | $178k | $105k | ($222k) | |
| Net gain on mortgage loans | ($4.6m) | ($10.6m) | ($29.3m) | ($16.1m) | ($5.3m) | ($2.8m) | ($4.9m) | ($4.4m) | |
| Origination of mortgage loans held for sale | ($388.3m) | ($640.6m) | ($1.3b) | ($1.3b) | ($439.7m) | ($276.0m) | ($383.3m) | ($378.7m) | |
| Proceeds from mortgage loans | $400.9m | $616.2m | $1.2b | $1.4b | $465.8m | $280.5m | $369.6m | $367.6m | |
| Loss on disposal of fixed assets | — | — | — | — | ($21k) | $8k | $0 | $43k | |
| Purchase of solar tax credits | — | — | — | — | — | — | $0 | ($1.2m) | |
| Income on company-owned life insurance | ($393k) | ($377k) | ($363k) | ($354k) | ($349k) | ($378k) | ($431k) | ($455k) | |
| Stock-based compensation | $1.9m | $2.3m | $2.5m | $2.9m | $2.6m | $1.8m | $1.5m | $2.2m | |
| Provision for other real estate owned | — | — | $176k | — | — | $0 | $1.1m | $1.3m | |
| Net gain on other real estate owned | — | — | — | $0 | ($44k) | $0 | $0 | ($459k) | |
| Unrealized (gain) loss recognized on equity securities | — | — | — | ($469k) | ($342k) | $22k | $33k | ($14k) | |
| Net (gain) loss on loans accounted for under the fair value option | — | — | — | — | $891k | $2.0m | $999k | ($6k) | |
| Change in accounts receivable | $1.1m | ($746k) | $355k | ($247k) | $426k | ($307k) | $550k | ($18k) | |
| Change in accrued interest receivable and other assets | ($1.1m) | $173k | ($4.5m) | $1.3m | ($3.6m) | ($4.5m) | ($670k) | $1.7m | |
| Change in accrued interest payable and other liabilities | ($1.6m) | $1.6m | $858k | $1.9m | ($1.7m) | $1.6m | ($827k) | ($9.4m) | |
| Maturities, prepayments, and calls | $13.0m | $9.6m | $28.6m | $16.2m | $9.0m | $7.2m | $8.7m | $13.4m | |
| Purchases | ($250k) | ($31.1m) | ($6.0m) | ($17.7m) | ($31.2m) | $0 | ($9.8m) | ($32.4m) | |
| Purchases of correspondent bank stock | ($6.6m) | ($1.3m) | ($1.9m) | ($1k) | ($14.0m) | ($40.8m) | ($6.9m) | ($5.6m) | |
| Redemption of correspondent bank stock | $5.8m | $3.2m | — | $973k | $9.9m | $41.4m | $8.6m | $5.3m | |
| Contributions to low-income housing tax credit investments | — | — | — | ($2.1m) | ($214k) | ($1.1m) | ($803k) | ($1.7m) | |
| Loan and note receivable originations and principal collections, net | ($78.1m) | ($103.9m) | ($414.5m) | ($162.9m) | ($488.0m) | ($110.2m) | $85.4m | ($218.0m) | |
| Purchases of premises and equipment | ($714k) | ($415k) | ($1.2m) | ($2.1m) | ($3.0m) | ($2.3m) | ($1.2m) | ($4.0m) | |
| Proceeds from sale of loans | — | — | — | — | $0 | $40.6m | $5.6m | $0 | |
| Purchase of loans | — | — | — | $0 | ($36.1m) | ($1.2m) | ($23.3m) | ($7.8m) | |
| Proceeds from sale of other real estate owned | — | — | $288k | $194k | $422k | $0 | $0 | $32.0m | |
| Net change in deposits | $121.6m | $149.0m | $470.0m | $206.6m | $199.6m | $123.8m | ($14.8m) | $232.4m | |
| Payments to Federal Home Loan Bank borrowings | ($297.9m) | ($72.3m) | ($30.0m) | $0 | ($545.9m) | ($1.6b) | ($276.2m) | ($179.7m) | |
| Proceeds from Federal Home Loan Bank borrowings | $284.3m | $67.3m | $35.0m | $0 | $677.4m | $1.5b | $240.0m | $187.1m | |
| Payments to Federal Reserve borrowings | — | — | ($69.8m) | ($194.6m) | ($23.2m) | ($292.5m) | ($42.5m) | ($1.5m) | |
| Proceeds from Federal Reserve borrowings | — | — | $204.3m | $83.7m | $0 | $361.7m | $10.0m | $0 | |
| Payments to subordinated note holders | ($6.9m) | — | — | $0 | ($6.6m) | $0 | $0 | ($8.0m) | |
| Income tax payment | $439k | $2.5m | $11.8m | $6.3m | $5.2m | $2.9m | $93k | $0 | |
| Cash paid for lease liabilities | — | $5.4m | $5.7m | $5.3m | $3.4m | $3.2m | $3.6m | $3.1m | |
| Lease right-of-use-asset obtained in exchange for lease liabilities | — | $16.6m | $3.6m | $2.3m | $801k | $3.0m | $12.6m | $4.2m | |
| Transfers from loans, net of participations, to other real estate owned | — | — | — | $0 | $378k | $0 | $27.4m | $0 | |
| Net cash (used in) provided by operating activities | $17.8m | ($21.5m) | ($93.3m) | $165.8m | $48.3m | $21.9m | ($544k) | ($1.8m) | |
| Transfer (to) from loans held for investment (from) to loans held for sale | — | — | — | $0 | $2.0m | $39.2m | $5.8m | ($594k) | |
| Net cash (used in) provided by investing activities | ($63.1m) | ($116.4m) | ($456.0m) | ($46.4m) | ($558.8m) | ($66.4m) | $66.4m | ($264.4m) | |
| Repurchase of common stock | $181k | ($743k) | ($377k) | — | — | $0 | ($89k) | ($784k) | |
| Stock dividends received on correspondent bank stock | ($136k) | ($29k) | ($17k) | ($76k) | ($381k) | ($620k) | ($463k) | ($576k) | |
| Net cash provided by (used in) financing activities | $109.1m | $143.2m | $626.7m | $111.5m | $320.0m | $102.4m | ($84.3m) | $228.6m | |
| Net change in cash and cash equivalents | $63.9m | $5.3m | $77.4m | $231.0m | ($190.5m) | $57.9m | ($18.4m) | ($37.7m) | |
| Cash and cash equivalents, beginning of year | $9.5m | $73.4m | $78.6m | $387.0m | $196.5m | $254.4m | $236.0m | $200.3m | |
| Interest paid on deposits and borrowed funds | $12.9m | $12.9m | $7.1m | $5.5m | $16.5m | $71.8m | $90.1m | $85.1m | |
| Cash paid for withholding taxes on exercised stock options | — | — | — | — | — | ($439k) | $0 | ($6k) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.