First Western Financial : Investor Presentation June 2025

Published: 2025-05-30 13:27:05 ET MYFW

Published on 05/30/2025 at 13:27

, 1 9 ( 6 7 2 5 3 5 ( 6 ( 1 7 $

- X Q H

7 , 2 1

Overview

Niche-focused regional wealth manager built on a private trust bank platform

Headquartered in Denver, Colorado and positioned in desirable, affluent and high growth markets

Target Market

Households of $1+ million liquid net worth

Focus on entrepreneurs and investors brings commercial bank and fee business

High net worth and high growth markets

Unique focus on attractive Rocky Mountain footprint

Competitive Advantage

Operates as one integrated firm, not silos

Team approach benefits both clients and First Western

Local boutique private trust bank offices with central product experts

Company Highlights

(as of 3/31/2025)

Assets: $2.91 billion

Total Loans: $2.43 billion

Total Deposits: $2.52 billion

AUM: $7.18 billion

3

Named one of 16 U.S. banks with industry leading performance over the last decade

Attractive Markets and Business Model

Growing institution operating in high growth markets

Attractive, stable deposit base with noninterest-bearing and money market accounts comprising 79% of total deposits as of 3/31/2025

Conservative underwriting and affluent client base results in minimal credit losses

Client relationships deepen over time with banking, planning, trust and investment services

Strong Earnings Momentum

Significant revenue growth driving improved operating leverage and higher profitability since pre-IPO

TBV/share(1)increased ~152% since the IPO

Continued scale expected to drive further leverage and generate returns consistent with a high performing institution over long term

Successful Execution on Growth Strategies

Track record of combining organic growth and market expansion with accretive acquisitions to enhance franchise value

Total assets up 178% since the IPO with substantial increases in revenue and EPS

Strengthening commercial banking platform creating more diverse loan portfolio and lower-cost deposit base

Proven Management Team, High Insider Ownership, and Discounted Valuation

See Non-GAAP reconciliation

Chairman and CEO has previously built and sold three banks for substantial gains for shareholders

COO has been instrumental in building the MYFW franchise over 18 years at the institution

Highly aligned with shareholder interests as insiders own ~15.5% of total shares outstanding(2)

Discounted valuation trading at 0.93x TBV/share(3)

Represents beneficial ownership as defined within the April 2025 Proxy Statement

As of May 28, 2025 4

Drivers of Improved Performance

Robust organic balance sheet growth

Accretive acquisitions

Market expansion

Highly leverageable operating platform driving improved efficiencies

Minimal credit losses

TBV/Share(1) Up ~166% Since December 2017

(TCE $ in thousands)

(1) See Non-GAAP reconciliation 5

Disclaimer

First Western Financial Inc. published this content on May 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 30, 2025 at 17:26 UTC.