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MYFW - First Western Financial Inc News Story

$26.22 0.3  1.3%

Last Trade - 12/04/21

Sector
Financials
Size
Small Cap
Market Cap £150.2m
Enterprise Value £166.2m
Revenue £71.0m
Position in Universe 4517th / 6825

First Western Financial, Inc. Announces Addition of Scott Mitchell and Julie Courkamp to Board of Directors

Thu 4th February, 2021 1:00pm
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DENVER, Feb. 04, 2021 (GLOBE NEWSWIRE) -- First Western Financial, Inc.
(NASDAQ: MYFW), a financial services holding company headquartered in Denver,
Colorado (“First Western” or the “Company”), today announced the
appointments of Scott C. Mitchell and Julie A. Courkamp to the Company’s
Board of Directors. With the addition of Mr. Mitchell and Ms. Courkamp, the
size of the Company’s Board of Directors has been increased from 9 to 11
members.

Scott C. Wylie, Chairman and CEO of First Western, said, “Since starting the
Company, our goal has always been to have a Board of Directors that consists
of highly qualified members that represent a diverse range of experience and
skill sets. With the addition of Scott and Julie, we have further strengthened
our Board with expertise in important areas and increased the diversity of
perspectives that will be considered in our discussions and strategic
planning.

“As a successful entrepreneur with an exceptional track record of improving
the financial and operational performance of companies in a variety of
industries, Scott represents the type of business leader that we serve in both
our private banking and commercial bank platforms. In addition, as a Six Sigma
Master Black Belt, Scott provides technical expertise and experience in
driving operational efficiencies that will be valuable as we continue to scale
First Western and improve operating leverage while upgrading our technology
platform and improving controls and processes.

“Since becoming Chief Financial Officer of First Western in 2013, Julie has
consistently taken on increasing responsibilities beyond our finance
department including oversight of our operations, risk management, and
technology functions. We believe the significant range of her experience will
be an asset at the Board level. Her Board service will also be valuable as she
continues to expand her leadership role within the Company in the future,”
said Mr. Wylie.

About Scott C. Mitchell

Scott C. Mitchell is President of U.S. Engineering, Metalworks, a full-service
mechanical contractor providing solutions for the life of a facility in a vast
range of industries such as healthcare, education, office, government, and
industrial. Prior to his current position, Mr. Mitchell served as President of
a number of other successful manufacturing companies including Mercury
Products, a provider of custom metal-stamped and fabricated parts, Intertech
Plastics & Intertech Medical, a high-speed, high-volume manufacturer of custom
injection molded plastic products and turnkey solutions, and Sylarus
Technology, an early-stage, start-up solar company. Earlier in his career, Mr.
Mitchell was a partner at Accenture, where he initiated a series of
operational excellence initiatives to increase margins while enhancing client
service, and also served as Senior Vice President of First Data and Western
Union Corporation, where he led a team of Lean Manufacturing and Six Sigma
specialists in driving business development and operational improvements
around the world.

Mr. Mitchell holds a Bachelor of Science in Industrial Engineering from
Southern Illinois University and an MBA from the University of Denver. Mr
Mitchell is a Six Sigma Master Black Belt and Lean Manufacturing Facilitator,
and has served as a board member of the Governor of Colorado’s Leaders
Initiative and the Denver Convention Center Hotel Authority.

About Julie A. Courkamp

Ms. Courkamp has served as Treasurer and Chief Financial Officer of the
Company and First Western Trust Bank since 2013. She joined the Company in
2006 as its Controller and was promoted to Director of Finance and Accounting
in 2010. In her current role, Ms. Courkamp manages the Finance, Accounting,
Risk, Compliance, and Operations teams, including the deposit, loan, trust,
investment and mortgage support teams at First Western. Prior to joining the
Company, Ms. Courkamp held positions with PwC in Denver researching issues
related to SEC reporting, and coordinating and supervising audits and interim
quarterly reviews of public and private companies.

Ms. Courkamp holds a Bachelor of Science in Accounting from the University of
Colorado at Boulder.

About First Western Financial, Inc.

First Western is a financial services holding company headquartered in Denver,
Colorado, with operations in Colorado, Arizona, Wyoming and California. First
Western and its subsidiaries provide 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’s common stock is
traded on the Nasdaq Global Select Market under the symbol “MYFW.” For
more information, please visit www.myfw.com.

Forward-Looking Statements

Statements in this news release regarding our expectations and beliefs about
our future financial performance and financial condition, as well as trends in
our business and markets 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,” “opportunity,” “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 COVID-19 pandemic and its effects; integration risks in
connection with acquisitions; 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 loan 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 Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission (“SEC”) on March 12, 2020 (“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 our Form 10-K and any updates
to those risk factors set forth in our subsequent Quarterly Reports on Form
10-Q, Current 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.

Contacts:
Financial Profiles, Inc.
Tony Rossi
310-622-8221

MYFW@finprofiles.com
IR@myfw.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fae5318e-9530-4f22-a0bd-11bfee95b74f 
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0043dee-e5d2-450b-a373-3c97cf3571cc

(https://www.globenewswire.com/NewsRoom/AttachmentNg/80292151-ffab-4c1f-81dd-2c0bc66e8142)
Scott Mitchell Added to MYFW Board of Directors 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/fae5318e-9530-4f22-a0bd-11bfee95b74f/en)
Scott MitchellJulie Courkamp Added to MYFW Board of Directors 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/d0043dee-e5d2-450b-a373-3c97cf3571cc/en)
Julie Courkamp


GlobeNewswire, Inc. 2021
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