First Western Financial, Inc. Named Third Fastest Growing Private Company by the Denver Business Journal
DENVER — July 19, 2011 — First Western Financial, Inc., the holding company of First Western Trust Bank (www.myfw.com) – striving to be the best private bank for the Western wealth management client – announced today that it has been recognized by the Denver Business Journal as the third fastest growing privately held company in Flight II – designated for companies with annual revenues between $15.1 million and $49.2 million.
First Western increased revenue nearly 100 percent over the last three years, growing from over $20 million in 2008 to $41.3 million in 2010. “Our remarkable growth is credited to our commitment to remain great for our clients, our associates, and the communities we serve,” stated Scott Wylie, Chairman and CEO of First Western. We are honored to be named one of the fastest growing private companies in the Denver area.”
Despite the difficult environment financial services operated under in 2008 and 2009, First Western extended credit to many Colorado individuals and companies. Net loans increased by 95% in 2008 and 30% in 2009. In July of 2010, First Western was recognized by the Denver Business Journal for leading the competition in overall net loan growth of $37.5 million, up 10 percent in six months.
In addition to its Denver Business Journal rankings, First Western was recently recognized by InterContinental Finance Magazine (ICFM) for exceptional levels of performance during one of the most difficult economic periods ever experienced, receiving the award of Top Private Wealth Bank in the United States. First Western has also been acknowledged on the Inc. 500|5000 list of the fastest–growing private companies in America for three consecutive years.
About First Western Financial, Inc.
First Western Financial, Inc. is the holding company of First Western Trust Bank and First Western Capital Management. First Western Trust Bank strives to be the best private bank for the Western wealth management client providing comprehensive tailored solutions in the areas of wealth planning, private banking, investment management, and personal trust. First Western also offers additional expertise in retirement services, mortgages, insurance, and business banking. All of our services are integrated through our propriety approach WealthView 360ºTM, which focuses on our clients’ whole financial picture. Built specifically for clients based in the West, the firm has offices in Arizona, California, and Colorado.