First Western presents a classic high-net-worth private bank story with relationship-driven lending, sizeable fee businesses, and affluent markets. The company shows improving margins, solid credit, and steady tangible book value growth, with changes appearing evolutionary rather than transformative.
Cyborg Score Rationale
First Western receives a consensus "Hold" recommendation from analysts, with three hold ratings and two buy ratings. Risk indicators remain benign with average annual net charge-offs below 10 basis points over the last decade and nonperforming assets/total assets at 0.62%.
Top Insights
Total deposits rose $320M (12.6%) to $2.85B in Q3 2025.
Net interest margin expanded to 2.71% in Q4 2025 as deposit costs declined and efficiency ratio improved for a fifth straight quarter.
Company has market capitalization of $256.64M with price-to-earnings ratio of 20.49 and beta of 0.77.
Company has 321 full-time employees and operates primarily in Colorado (86% of deposits) with smaller presences in Wyoming, Arizona, and Montana.
Named Competitors
Private Banking — Regional private bank competitor
Regional Banking — Multi-state regional bank competitor