Company: First Western Financial, Inc.
Symbol: MYFW
Description: First Western Financial, Inc. is a financial holding company headquartered in Denver, Colorado.
Trade Date: 7/19
Shares: 1.85 million
Price Range: $19.00-$21.00
Underwriter(s): Keefe Bruyette & Woods, Stephens, Sandler O’ Neill
Terms Added: 7-9-18
Business: First Western Financial, Inc. is a financial holding company headquartered in Denver, Colorado. They provide a fully integrated suite of wealth management services on their private trust bank platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and investment management products and services. They believe their integrated business model distinguishes them from other banks and non-bank financial services companies in the markets in which they operate. As of March 31, 2018, they provided fiduciary and advisory services on $5.4 billion of trust and investment management assets (referred to as “AUM”), and they had total assets of $991.6 million, total loans of $817.3 million, total deposits of $818.2 million and total shareholders’ equity of $104.2 million.
They offer their services through a branded network of boutique private trust bank offices, which they believe are strategically located in affluent and high-growth markets in thirteen locations across Colorado, Arizona, Wyoming and California.
Financials: Since December 31, 2013, they have increased gross revenues from $42.4 million for the year ended December 31, 2013 to $55.2 million for the year ended December 31, 2017, representing a CAGR of 6.8%, while total non-interest expense increased from $41.4 million for the year ended December 31, 2013 to $49.5 million for the year ended December 31, 2017, representing a CAGR of 4.6%.
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