First western financial inc (MYFW)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Sep'17Jun'17
Interest and dividend income:
Loans, including fees

11,002

10,555

10,672

10,600

10,218

9,866

9,468

9,074

8,602

8,264

7,372

Investment securities

295

321

312

331

310

273

266

281

277

530

667

Federal funds sold and other

215

478

489

243

522

206

206

150

127

91

65

Total interest and dividend income

11,512

11,354

11,473

11,174

11,050

10,345

9,940

9,505

9,006

8,885

8,104

Interest expense:
Deposits

2,393

2,996

3,363

2,995

2,909

2,179

1,761

1,411

1,160

1,016

889

Other borrowed funds

188

168

170

219

170

267

391

517

486

494

548

Total interest expense

2,581

3,164

3,533

3,214

3,079

2,446

2,152

1,928

1,646

1,510

1,437

Net interest income

8,931

8,190

7,940

7,960

7,971

7,899

7,788

7,577

7,360

7,375

6,667

Less: provision for loan losses

367

446

100

-78

194

349

18

0

-187

306

262

Net interest income, after provision for loan losses

8,564

7,744

7,840

8,038

7,777

7,550

7,770

7,577

7,547

7,069

6,405

Non-interest income:
Trust and investment management fees

4,731

4,748

4,824

4,693

4,670

4,752

4,770

4,689

4,954

4,815

4,810

Net gain on mortgage loans

2,481

2,576

3,291

3,262

1,456

791

1,159

1,359

1,251

899

771

Bank fees

368

260

283

341

289

333

361

455

610

674

553

Risk management and insurance fees

96

367

176

194

468

380

249

284

383

209

165

Income on company-owned life insurance

91

93

95

96

93

95

99

105

94

105

107

Net gain on sale of securities

-

-

119

-

-

-

-

-

-

43

83

Total non-interest income

7,767

8,227

8,788

8,586

6,976

6,351

6,638

6,892

7,292

6,745

6,489

Total income before non-interest expense

16,331

15,971

16,628

16,624

14,753

13,901

14,408

14,469

14,839

13,814

12,894

Non-interest expense:
Salaries and employee benefits

8,482

7,989

8,504

7,699

7,618

6,710

7,221

7,660

8,180

7,081

6,831

Occupancy and equipment

1,440

2,441

1,388

1,398

335

2,524

1,427

1,527

375

1,422

1,516

Lease costs, net

-

-

-

-

1,072

-

-

-

1,110

-

-

Professional services

1,023

961

745

1,036

777

814

805

1,008

824

682

1,160

Technology and information systems

969

927

961

1,016

1,069

954

965

1,000

1,063

980

937

Data processing

847

782

854

742

687

659

697

687

640

598

647

Marketing

415

301

272

441

278

378

274

316

285

377

366

Amortization of other intangible assets

2

33

52

142

173

132

208

230

230

185

184

Net loss on intangibles held for sale

-553

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

-

-

-

1,572

-

-

-

-

-

-

-

Total loss on sales/provision for other real estate owned

-

-

-

-

-

-

-

-

-

-236

-

Other

916

745

666

613

593

557

579

656

579

573

641

Total non-interest expense

14,647

13,081

13,442

14,659

12,602

11,649

12,176

13,084

13,286

12,134

12,282

Income (loss) before income tax

1,684

2,890

3,186

1,965

2,151

2,252

2,232

1,385

1,553

1,680

612

Income tax expense

350

318

780

561

524

528

543

337

367

632

208

Net income

1,334

2,572

2,406

1,404

1,627

1,724

1,689

1,048

1,186

1,048

404

Preferred stock dividends

-

-

-

-

-

0

255

562

561

584

573

Net income available to common shareholders

1,334

2,572

2,406

1,404

1,627

1,724

1,434

486

625

464

-169

Earnings per common share:
Basic

0.17

0.33

0.30

0.18

0.21

0.26

0.19

0.08

0.11

0.08

-

Diluted

0.17

0.32

0.30

0.18

0.21

0.25

0.19

0.08

0.11

0.08

-

Basic and diluted

-

-

-

-

-

-

-

-

-

-

-0.03