First Western Financial (MYFW) investor relations material

Market positioning and business model

• Operates as a niche-focused regional wealth manager built on a private trust bank platform, targeting affluent, high-growth markets in the Rocky Mountain region and select western states.

• Focuses on households with $1M+ liquid net worth, entrepreneurs, and investors, offering integrated banking, trust, and investment services.

• Maintains a boutique, team-based approach with centralized product experts and local offices.

• Holds $3.24B in assets, $2.84B in deposits, and $7.24B in assets under management as of 3/31/2026.

• Recognized for industry-leading performance, named to the 2025 KBW Bank Honor Roll.

Financial performance and growth

• Tangible book value per share increased ~186% since 2017, reaching $24.87 in 1Q26.

• Net income for 1Q26 was $6.2M, up 87% from 4Q25 and 48% from 1Q25; diluted EPS rose 85% quarter-over-quarter.

• Gross revenue grew 3.4% quarter-over-quarter to $27.6M in 1Q26, with net interest income up 1.5% and non-interest income up 9.5%.

• Efficiency ratio improved to 73.11% in 1Q26, marking the sixth consecutive quarter of improvement.

• Total loans increased 12% year-over-year, with diversified new loan production and a focus on relationship-based lending.

Deposit and asset quality trends

• Total deposits rose 3.5% in 1Q26 to $2.84B, with noninterest-bearing deposits up 10.2%.

• Deposit base remained stable during industry volatility, supported by strong client relationships and consistent addition of new accounts.

• Non-performing assets decreased to $16.3M in 1Q26, with zero charge-offs and a provision release due to credit event resolution.

• Average annual net charge-offs have remained below 10 basis points over the last decade.

• Allowance for credit losses at 0.77% of total loans as of 1Q26.