First Western Financial Inc (MYFW) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16
	10-K	10-K	10-K	10-K	10-K	10-K	S-1/A
Interest income:
Interest income on loans	94.4	60.8	52.0	42.0	37.0	30.9	27.7
Interest income on investments	2.1	0.8	0.9	1.3	1.1	2.1
Interest income on repurchase agreements	2.2	0.4	0.5	1.7	0.7	0.3
	100.5	62.0	53.3	45.1	38.8	33.3	29.5
Interest on deposits	13.0	3.5	5.8	12.3	6.5	3.8
Total interest expense	17.3	5.4	7.2	13.0	8.2	5.8	5.1
Net interest income	83.2	56.6	46.1	32.1	30.6	27.6	24.5
Provision for loan losses	3.7	1.2	4.7	0.7	0.2	0.8
Net interest income after provision for loan losses	79.5	55.4	41.4	31.4	30.4	26.8	24.5
Gain on sale of investments, net							0.1
Other non-interest income	28.4	40.0	51.2	32.6	27.2	27.7	29.8
Total non-interest income	28.4	40.0	51.2	32.6	27.2	27.7	29.9
Non-interest expenses	79.1	68.1	59.5	53.8	50.2	49.5	49.8
Pre-tax income before non-recurring items	28.8	27.3	33.6	11.6	7.4	5.8	3.6
Non-recurring items	0.0		0.6	1.4		0.8
Pre-tax income	28.8	27.3	33.1	10.2	7.4	5.0	3.6
Income taxes	7.1	6.7	8.5	2.2	1.8	3.0	1.3
Tax rate	24.7%	24.5%	25.8%	21.4%	23.9%	59.6%	35.5%
Net income	21.7	20.6	24.5	8.0	4.3	-0.3	2.3
Net margin	20.1%	21.6%	26.5%	12.5%	7.4%	-0.5%	4.2%

Basic EPS	$2.29	$2.58	$3.11	$1.02	$0.64	($0.05)
Diluted EPS	$2.23	$2.50	$3.08	$1.01	$0.63	($0.05)

Shares outstanding (basic)	9.5	8.0	7.9	7.9	6.7	5.6
Shares outstanding (diluted)	9.7	8.2	8.0	7.9	6.8	5.6

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.