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2020 Financial Markets Update

First Western Trust Hires Bonifacio Sandoval to Focus on Broomfield

December 10, 2019

Broomfield, Colorado – December 10, 2019 – First Western Trust Bank* (“First Western Trust”), a wholly-owned subsidiary of First Western Financial, Inc. (NASDAQ: MYFW), today announced the hiring of Bonifacio Sandoval as Market President with a focus on the Broomfield, CO area.

Mr. Sandoval enables First Western Trust to serve wealth management clients in Broomfield through its proprietary ConnectView® service model, which delivers tailored financial solutions spanning each client’s personal, business, and philanthropic needs.

“We are very pleased to bring our wealth management and private banking expertise, highly personalized service, and broad suite of products and services to the Broomfield market,” said Scott Wylie, chairman and CEO of First Western Trust.  “Bonifacio comes to us with over 25 years of banking experience, most recently developing and leading a team of wholesale bankers in the Broomfield region.  His experience and his deep ties to the Broomfield community will serve him well as we expand to serve clients in this area.  Broomfield has similar demographics to a number of our most successful markets and we anticipate that it will be a significant contributor to our continued growth in the coming years.  We look forward to building our presence in the Broomfield community and demonstrating how our unique approach and strong track record of success makes us the best private bank for the western wealth management client.”

Bonifacio Sandoval has called the Denver metro area his home for his entire life. He holds a BA in economics and psychology from the University of Colorado and is an alumnus of the Graduate School of Banking at Colorado.  Bonifacio’s professional background includes extensive experience in building strong teams to assist clients with their commercial lending, treasury management, and mortgage lending needs.  He is currently the Vice-Chair of the Boulder Chamber of Commerce Board, and an active member and former chair of both the Humane Society of Boulder Valley and the Downtown Boulder Partnership Board.

For more information, please contact Bonifacio Sandoval at 303-441-9430 or boni.sandoval@myfw.com.

About First Western Financial, Inc.

First Western Financial, Inc., a financial services holding company, and its wholly owned subsidiary, First Western Trust, are headquartered in Denver, Colorado. First Western Trust maintains operations in Colorado, Arizona, Wyoming and California.  Based on a mission to be the best private bank for the western wealth management client, First Western Trust provides a fully integrated suite of wealth management services on a private trust bank platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and investment management products and services.  First Western Financial, Inc.’s common stock is traded on the NASDAQ Global Select Market under the symbol “MYFW.”

Forward-Looking Statements

Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward looking statements contained in this news release and could cause us to make changes to our future plans. Those risks and uncertainties include, without limitation, the risk of geographic concentration in Colorado, Arizona, Wyoming and California; the risk of changes in the economy affecting real estate values and liquidity; the risk in our ability to continue to originate residential real estate loans and sell such loans; risks specific to commercial loans and borrowers; the risk of claims and litigation pertaining to our fiduciary responsibilities; the risk of competition for investment managers and professionals; the risk of fluctuation in the value of our investment securities; the risk of changes in interest rates; and the risk of the adequacy of our allowance for credit losses and the risk in our ability to maintain a strong core deposit base or other low-cost funding sources. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in our Form 10-K with the U.S. Securities and Exchange Commission (“SEC”) on March 21, 2019 Annual Report on Form 10-K (“Form 10-K”), and other documents we file with the SEC from time to time. We urge readers of this news release to review the “Risk Factors” section in our Form 10-K and any updates to those risk factors set forth in our subsequent Quarterly Reports on Form 10-Q, Quarterly Reports on Form 8-K, and our other filings with the SEC. Also, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release, which speak only as of today’s date, or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

*First Western Trust Bank is an Equal Housing Lender, and is a member of the Federal Deposit Insurance Corporation (FDIC).

 Media Contact:

Theodore Gerbick



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