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2020 Financial Markets Update

First Western Joins Forces with Englewood Mortgage Company

August 28, 2017

DENVER, Colo – August 28, 2017 – First Western Trust today announced it has entered into an agreement to acquire substantially all of the assets of Englewood Mortgage Company (EMC), a leading mortgage firm in the Denver market. The acquisition will strengthen First Western’s existing mortgage business and complement its suite of private banking services.

“As a growing company we are always looking for ways to broaden our reach and deepen our expertise,” said First Western CEO, Scott Wylie. “The addition of EMC does just that, expanding our current mortgage capabilities and enhancing our ability to deliver on the high-touch service our clients have come to expect from us.”

Englewood Mortgage Company is a locally-owned and operated mortgage firm located in Greenwood Village, CO. Established in 1987, the company has 41 full-time employees.

“It was an easy decision for EMC,” said EMC CEO Alan Schrum. “First Western Trust has an outstanding reputation and a terrific track record. We look forward to adding our mortgage experience to their already considerable wealth management capabilities.”

The asset acquisition is anticipated to close September 15, 2017. Effective with the closing, Mr. Schrum will become President, Residential Mortgage, overseeing the enterprise mortgage division, which includes offices in Colorado, Arizona, and Wyoming.

About First Western Trust

First Western Trust’s mission is to be the best private bank for the Western wealth management client. The integrated wealth management firm delivers a complete package of goals-oriented wealth advisory services to clients that have a uniquely Western spirit from its 12 offices in Colorado, Arizona, California, and Wyoming. Through its proprietary ConnectView service model, First Western delivers tailored solutions, spanning personal, business, mortgage and philanthropic needs.

This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts, but instead represent First Western’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of First Western’s control. It is possible that First Western’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. All forward-looking statements made herein are made only as of the date of this release, and First Western does not undertake any obligation to update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which First Western hereafter becomes aware.


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