第一西方金融股份有限公司2025年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549_________________________________________ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).xYesoNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of theExchange Act. PART I. FINANCIAL INFORMATION Table ofContents Unless we state otherwise or the context otherwise requires, references in this Quarterly Report to "we," "our," "us," "theCompany" and "First Western" refer to First Western Financial, Inc. and its consolidated subsidiaries, including First Western Trust The information contained in this Quarterly Report is accurate only as of the date of this Quarterly Report on Form 10-Q andas of the dates specified herein. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. These forward-looking statements reflect ourcurrent views with respect to, among other things, future events and our financial performance. These statements are often, but notalways, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likelyresult," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would," and "outlook," or thenegative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-lookingstatements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’sbeliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our There are or will be important factors that could cause our actual results to differ materially from those indicated in theseforward-looking statements, including, but not limited to, the following: •geographic concentration in Colorado, Arizona, Wyoming, Montana, and California;•the soundness of other financial institutions;•changes in the economy affecting real estate values and liquidity;•risks associated with higher inflation;•changes in interest rates;•weak economic conditions and global trade, including the imposition of tariffs;•our ability to continue to originate residential real estate loans and sell such loans;•risks specific to commercial loans and borrowers;•risks related to non-performing assets, borrowers' solvency and ability to repay and the value of loan collateral;•claims and litigation pertaining to our fiduciary responsibilities;•competition for investment managers and professionals and our ability to retain our associates;•fluctuation in the value of our investment securities;•the terminable nature of our investment management contracts;•changes to the level or type of investment activity by our clients;•investment performance, in either relative or absolute terms;•legislative changes or the adoption of tax reform policies;•external business disruptors in the financial services industry;•the adequacy of our allowance for credit losses;•liquidity risks;•our ability to maintain a strong core deposit base or other low-cost funding sources;•continued positive interaction with and financial health of our referral sources;•retaining our largest trust clients;•our ability to achieve our strategic objectives;•competition from other banks, financial institutions, and wealth and investment management firms;•our ability to implement our internal growth strategy and manage the risks associated with our anticipated growth; •the acquisition of other banks and financial services companies and integration risks and other unknown risks associatedwith acquisitions;•the accuracy of estimates and assumptions;•our ability to protect against and manage fraudulent activity, breaches of our information security, and cybersecurityattacks;•our reliance on communications, information, operating and financial control systems technology and related servicesfrom third-party service providers;•technological change, including the use of artificial intelligence as a commonly used resource and its effects;•our ability to attract and retain clients;•unforeseen or catastrophic events, including pandemics, wars, terrorist attacks, extreme weather events or other naturaldisasters;•new lines of business or new products and services;•regulation of the financial services industry;•legal and regulatory proceedings, investigations and inquiries, fines and sanctions;•limited trading volume