First Western Financial, Inc. (MYFW) Bundle
A Brief History of First Western Financial, Inc. (MYFW)
Company Overview
First Western Financial, Inc. (ticker: MYFW) is a financial services holding company headquartered in Denver, Colorado. It operates through its banking subsidiary, First Western Trust Bank. The company specializes in wealth management, commercial banking, and investment advisory services.
Founding and Early Years
Founded in 2002, First Western Financial aimed to address the financial needs of affluent individuals and businesses. Initially, it focused on providing wealth management and banking services tailored to high-net-worth clients.
Financial Growth
As of December 31, 2022, First Western Financial reported total assets of approximately $1.66 billion. The company has shown significant growth in asset management and client deposits over the years.
| Year | Total Assets (in billions) | Total Deposits (in millions) | Net Income (in millions) |
|---|---|---|---|
| 2018 | 1.03 | 726 | 4.5 |
| 2019 | 1.22 | 883 | 5.1 |
| 2020 | 1.41 | 1,003 | 6.3 |
| 2021 | 1.54 | 1,186 | 6.9 |
| 2022 | 1.66 | 1,310 | 7.5 |
Strategic Acquisitions
In 2016, First Western Financial acquired a wealth management firm, significantly enhancing its client base and service offerings. This acquisition allowed the company to expand its footprint in the wealth management sector.
Public Listing
First Western Financial became publicly traded on the NASDAQ under the ticker MYFW in 2018. The initial public offering (IPO) raised approximately $12 million for the company, providing capital for further expansion and operational capabilities.
Recent Developments
As of 2023, First Western Financial continues to evolve its business model to encompass more digital banking solutions and enhance client service through technology. The company reported a year-over-year increase in assets under management, indicating a robust growth trajectory.
| Metric | 2021 | 2022 | 2023 (Q1) |
|---|---|---|---|
| Assets Under Management (in billions) | 1.22 | 1.33 | 1.45 |
| Client Accounts | 5,500 | 6,200 | 6,800 |
| Return on Equity (ROE) | 12.4% | 13.1% | 14.0% |
Community Engagement
First Western Financial prides itself on its community engagement initiatives. The company has donated over $2 million to local charities and organizations in Colorado, focusing on education, health, and economic development.
A Who Owns First Western Financial, Inc. (MYFW)
Ownership Structure
First Western Financial, Inc. (MYFW) operates as a publicly traded company on the NASDAQ exchange. As of the most recent filings, the ownership is distributed among various institutional and retail investors.
Institutional Ownership
According to the latest data available, institutional investors hold a significant portion of MYFW’s shares.
| Institution | Ownership Percentage | Number of Shares | Value of Shares (USD) |
|---|---|---|---|
| The Vanguard Group, Inc. | 9.7% | 650,000 | $12,400,000 |
| BlackRock, Inc. | 8.5% | 570,000 | $10,800,000 |
| Wellington Management Co. LLP | 7.2% | 480,000 | $9,000,000 |
| State Street Corporation | 6.3% | 420,000 | $8,000,000 |
Insider Ownership
Insider ownership also plays a role in the overall ownership structure. As of the latest reports, company executives and board members have a significant stake in MYFW.
| Name | Position | Ownership Percentage | Number of Shares |
|---|---|---|---|
| Scott Wylie | CEO | 5.1% | 340,000 |
| Betsy D. Lentz | CFO | 2.8% | 190,000 |
| Richard L. Smith | Chairman | 2.4% | 160,000 |
Retail Ownership
Retail investors also constitute a segment of MYFW's ownership. Recent data indicates a diverse base of individual shareholders.
| Shareholder Type | Ownership Percentage | Number of Shares |
|---|---|---|
| Retail Investors | 36.0% | 2,400,000 |
| Other Institutional Holdings | 29.0% | 1,950,000 |
Market Capitalization
The market capitalization of First Western Financial, Inc. reflects its ownership composition.
| Metric | Value |
|---|---|
| Market Capitalization (USD) | $128,000,000 |
| Current Share Price (USD) | $18.20 |
Latest Shareholder Meeting
The most recent shareholder meeting, held in April 2023, highlighted key issues regarding ownership and governance.
- Date: April 15, 2023
- Key Decisions: Approvals on executive compensation plans and strategic initiatives.
- Voting Outcomes: 78% of votes in favor of management proposals.
First Western Financial, Inc. (MYFW) Mission Statement
Core Mission Statement
First Western Financial, Inc. is dedicated to providing exceptional financial services with a focus on wealth management and enhancing the financial well-being of its clients. The company aims to achieve this through personalized service, innovative solutions, and a commitment to community engagement.
Financial Performance Indicators
As of Q3 2023, First Western Financial, Inc. reported the following key financial metrics:
| Metric | Value |
|---|---|
| Net Income | $5.3 million |
| Revenue | $29.1 million |
| Total Assets | $1.52 billion |
| Customer Deposits | $1.1 billion |
| Loans Receivable | $800 million |
| Market Capitalization | $140 million |
| Return on Equity (ROE) | 10.2% |
Commitment to Customers
First Western Financial, Inc. emphasizes its commitment to delivering tailored solutions that meet individual client needs. This includes:
- Wealth Management Services: Personalized investment strategies and financial planning.
- Community Engagement: Active participation in local initiatives and support for regional charities.
- Client Relationships: Building long-term partnerships through trust and transparency.
Vision for Growth
First Western Financial, Inc. aims to expand its footprint in the financial services industry by:
- Innovation: Continuously enhancing technology-driven solutions.
- Market Expansion: Exploring new markets and client demographics.
- Strategic Partnerships: Collaborating with other organizations to broaden service offerings.
Corporate Values
The mission of First Western Financial, Inc. is underpinned by its corporate values:
- Integrity: Upholding the highest standards of honesty and ethical practices.
- Excellence: Striving for the best in service delivery and client satisfaction.
- Community Focus: Committing resources and efforts to enhance local communities.
How First Western Financial, Inc. (MYFW) Works
Company Overview
First Western Financial, Inc. (MYFW) is a financial services company that specializes in private banking and wealth management. The firm primarily aims to serve high-net-worth individuals and their families.
Business Model
The company operates through a combination of banking services and investment management. Their offerings include:
- Private Banking
- Trust and Fiduciary Services
- Investment Management
Financial Highlights
As of the last reported quarter, First Western Financial, Inc. reported the following key financial metrics:
| Metric | Value |
|---|---|
| Total Assets | $1.3 billion |
| Total Deposits | $1.1 billion |
| Net Income | $4.1 million |
| Return on Assets (ROA) | 0.32% |
| Return on Equity (ROE) | 6.45% |
| Net Interest Margin | 3.15% |
Revenue Sources
The revenue streams for First Western Financial, Inc. are primarily derived from:
- Interest Income
- Fees from Wealth Management Services
- Trust Services
Market Position
First Western Financial, Inc. holds a significant position in the financial market with a focus on personalized services for affluent clients. They compete with major national banks and boutique investment firms.
Recent Developments
In the last fiscal year, First Western Financial, Inc. has experienced growth in asset management, with an increase in assets under management totaling:
| Type of Asset | Value |
|---|---|
| Equities | $500 million |
| Fixed Income | $300 million |
| Alternative Investments | $200 million |
| Cash and Cash Equivalents | $100 million |
Client Demographics
The client base of First Western Financial, Inc. predominantly consists of:
- Individuals aged 40-65
- Business owners
- Affluent families
Strategic Initiatives
First Western Financial, Inc. has undertaken several strategic initiatives to enhance its market competitiveness, including:
- Digital Banking Enhancements
- Expansion of Wealth Management Services
- Partnerships with Financial Technology Firms
Employee Structure
The company employs approximately 150 professionals across various departments, contributing to a customer-centric approach in service delivery.
Future Outlook
Looking forward, First Western Financial, Inc. aims for continued growth in their asset base and client acquisition through enhanced service offerings and strategic partnerships. The projected growth rate for the upcoming year is estimated at:
| Forecast Metric | Value |
|---|---|
| Projected Asset Growth | 15% |
| Projected Revenue Growth | 10% |
| Expected Client Growth | 8% |
How First Western Financial, Inc. (MYFW) Makes Money
Overview of Revenue Streams
First Western Financial, Inc. (MYFW) generates revenue primarily through a variety of financial services, including wealth management, investment advisory services, and traditional banking products.
Wealth Management Services
The company earns substantial income from wealth management services, which include financial planning, investment management, and fiduciary services.
| Year | Revenue from Wealth Management ($ million) | Growth Rate (%) |
|---|---|---|
| 2020 | 25.4 | 12 |
| 2021 | 29.7 | 16.9 |
| 2022 | 34.1 | 14.8 |
| 2023 | 40.5 | 18.8 |
Loan Interest Income
Loan interest income is another critical source of revenue for MYFW, primarily derived from commercial and consumer loans.
| Year | Loan Interest Income ($ million) | Loan Portfolio Size ($ million) |
|---|---|---|
| 2020 | 15.2 | 180.0 |
| 2021 | 18.5 | 220.0 |
| 2022 | 22.0 | 250.0 |
| 2023 | 26.1 | 300.0 |
Investment Advisory Services
Investment advisory services provide a key component in MYFW's revenue model, catering to high-net-worth individuals and institutional clients.
| Year | Revenue from Investment Advisory ($ million) | Assets Under Management ($ billion) |
|---|---|---|
| 2020 | 12.3 | 2.0 |
| 2021 | 14.0 | 2.5 |
| 2022 | 16.1 | 3.0 |
| 2023 | 18.0 | 3.5 |
Fee-Based Income
MYFW earns a significant portion of its revenue from fee-based income, which includes transaction fees, service charges, and other miscellaneous fees.
| Year | Fee-Based Income ($ million) | Percentage of Total Revenue (%) |
|---|---|---|
| 2020 | 8.5 | 25 |
| 2021 | 9.7 | 23.5 |
| 2022 | 11.0 | 24 |
| 2023 | 13.2 | 25.5 |
Capital Markets Services
MYFW also engages in capital markets services, which provide investment banking and brokerage services.
| Year | Revenue from Capital Markets ($ million) | Market Transactions Volume ($ billion) |
|---|---|---|
| 2020 | 5.0 | 10.0 |
| 2021 | 6.5 | 12.5 |
| 2022 | 7.2 | 15.0 |
| 2023 | 8.0 | 18.0 |
Recent Financial Performance
As of Q3 2023, MYFW reported total revenue of approximately $100 million, showing a year-over-year increase of around 15%.
Conclusion on Revenue Generation
First Western Financial, Inc. continues to enhance its revenue streams through diversified financial services while maintaining a strong focus on client relationships and capital growth.
First Western Financial, Inc. (MYFW) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support