Denver, Colorado – First Western Financial, Inc. held its Q2 2024 Earnings Conference Call on July 24, 2024, at 12:00 PM EST. During the call, key company executives provided updates on the financial performance and strategic priorities of the organization. Participants included Tony Rossi from Financial Profiles, Inc., Scott Wylie (Chairman and CEO), Julie Courkamp (COO), and David Weber (CFO). Analysts and investors joined the call to gain insights into the company’s performance and future outlook.

The company emphasized its focus on prudent risk management and conservative approaches to new loan production during the second quarter of 2024. While the balance sheet remained relatively flat, the organization reported positive trends in key areas such as disciplined expense control, growth in deposit relationships, and strong performance in wealth management and mortgage banking. Additionally, asset quality showed improvement with a decrease in past due loans and net recoveries during the quarter.

Despite challenges in certain financial metrics, the company highlighted several positive trends for the future, including the increase in tangible book value per share. The executives discussed the company’s net income, pre-tax pre-provision net income, and steady financial performance compared to previous quarters. They also addressed trends in the loan portfolio, deposit relationships, and trust and investment management.

Throughout the call, executives addressed questions from analysts regarding the credit exposure, net interest margin, expenses related to non-performing assets, new hires, and technology investments. The company outlined plans for rebuilding its tech platform to enhance efficiency and cost savings in the future. The call concluded with a positive outlook for the second half of the year, highlighting key areas of focus for continued growth and success.

Overall, the conference call provided valuable insights into First Western Financial, Inc.’s financial performance, strategic initiatives, and future prospects. Investors and analysts gained a deeper understanding of the company’s operations and outlook, setting the stage for informed decision-making moving forward.

As the organization navigates economic challenges and focuses on key priorities, stakeholders can expect continued transparency and proactive measures to drive growth and success in the coming quarters.