First Western Financial Inc (MYFW) 2024 Q2 法說會逐字稿

Good day, everyone, and thank you for standing by.

大家好，感謝你們的支持。

Welcome to First Western Financial Second Quarter 2024 earnings conference call.

歡迎參加第一西部金融 2024 年第二季財報電話會議。

At this time, all participants are in a listen only mode.

此時，所有參與者都處於只聽模式。

After the speakers' presentation, there will be a question and answer session.

演講者演講結束後，將進行問答環節。

To participate, you will need to press star one one on your telephone.

要參與，您需要在電話上一一按星號。

You will then hear a message advising your hand this raise to withdraw your question simply press star one.

然後，您將聽到一條訊息，建議您加註，只需按星號一即可撤回您的問題。

Once again, please be advised that today's conference is being recorded.

再次請注意，今天的會議正在錄製中。

I will hand the call over to Tony Rossi of Financial Profiles.

我將把電話轉給《財務概況》的托尼·羅西。

Thank you, Carmen.

謝謝你，卡門。

Good morning, everyone, and thank you for joining us today for First Western Financial's Second Quarter 2024 earnings call.

大家早安，感謝您今天加入我們參加 First Western Financial 2024 年第二季財報電話會議。

Joining us from First Western's management team are Scott Wylie, Chairman and Chief Executive Officer, Julie CourKamp, Chief Operating Officer, and David Weber, Chief Financial Officer.

加入我們的 First Western 管理團隊包括董事長兼執行長 Scott Wylie、營運長 Julie CourKamp 和財務長 David Weber。

We will use a slide presentation as part of our discussion this morning.

我們將使用幻燈片演示作為今天上午討論的一部分。

If you have not done so already, please visit the Events and Presentations page of First Western's Investor Relations website to download a copy of the presentation.

如果您尚未下載演示文稿，請造訪 First Western 投資者關係網站的活動和簡報頁面。

Before we begin, I'd like to remind you that this conference call contains forward-looking statements with respect to the future performance and financial condition of First Western Financial that involve risks and uncertainties.

在開始之前，我想提醒您，本次電話會議包含有關第一西部金融未來業績和財務狀況的前瞻性陳述，涉及風險和不確定性。

Various factors could cause actual results to be materially different from any future results expressed or implied by such forward-looking statements.

各種因素可能導致實際結果與此類前瞻性陳述明示或暗示的任何未來結果有重大差異。

These factors are discussed in the Company's SEC filings, which are available on the company's website.

這些因素在公司向 SEC 提交的文件中進行了討論，這些文件可在公司網站上查看。

I would also direct you to read the disclaimers in our earnings release and investor presentation.

我還建議您閱讀我們的收益發布和投資者介紹中的免責聲明。

The Company disclaims any obligation to update any forward-looking statements made during the call.

該公司不承擔更新電話會議期間所做的任何前瞻性陳述的義務。

Additionally, management may refer to non-GAAP measures, which are intended to supplement but not substitute for the most directly comparable GAAP measures.

此外，管理階層可能會參考非公認會計準則衡量標準，這些衡量標準旨在補充但不能取代最直接可比較的公認會計準則衡量標準。

In the press release available on the website contains the financial and other quantitative information to be discussed today as well as the reconciliation of the GAAP to non-GAAP measures.

網站上的新聞稿包含今天要討論的財務和其他定量信息，以及 GAAP 與非 GAAP 指標的調整。

And with that, I'd like to turn the call over to Scott.

說到這裡，我想把電話轉給史考特。

Thanks, Tony, and good morning, everybody.

謝謝托尼，大家早安。

During the second quarter, we continue to prioritize prudent risk management and conservative approach to new loan production, which resulted in our balance sheet remaining relatively flat during the quarter.

在第二季度，我們繼續優先考慮審慎的風險管理和保守的新貸款生產方法，這導致我們的資產負債表在本季度保持相對穩定。

At same time, we continue to execute well in our strategic priorities ahead of positive trends in a number of key areas.

同時，在一些關鍵領域出現正面趨勢之前，我們繼續良好地執行我們的策略重點。

We continue to maintain disciplined expense control, which resulted in that interest expense declining from the prior quarter.

我們繼續保持嚴格的費用控制，這導致利息費用較上一季下降。

We continued to add new deposit relationships in our largest non interest income generating businesses, wealth management and mortgage banking continued to perform well and make strong contributions to our revenue.

我們在最大的非利息收入業務中不斷增加新的存款關係，財富管理和抵押銀行業務繼續表現良好，為我們的收入做出了強勁貢獻。

Notably, our performance grew stronger as we move through the quarter and in June, we had increases in both loans and deposits, and we saw an increase in our net interest margin.

值得注意的是，隨著本季的進展，我們的業績變得更加強勁，在 6 月份，我們的貸款和存款均有所增加，淨利差也有所增加。

In terms of asset quality, we continue to make progress on resolving our largest non performing assets and foreclosed on two of the property we have as collateral.

在資產品質方面，我們在解決最大的不良資產和取消我們作為抵押品的兩處財產的贖回權方面繼續取得進展。

During the quarter, we experienced a decline in past due loans while having net recoveries in the quarter.

在本季度，我們的逾期貸款有所下降，但本季實現了淨回收。

As we indicated in the past, when we do see from a loan move from non-performing status to specific due to specific issues with a particular borrower, it rarely results in a meaningful level of loss due to the strong collateral we require typically also including multiple forms of prepayment in personal guarantees.

正如我們過去所指出的，當我們確實看到由於特定借款人的具體問題而導致貸款從不良狀態轉變為特定狀態時，由於我們通常需要的強大抵押品還包括個人擔保預付款形式多樣。

Moving to slide 4, we generated net income of $1.1 million or about $0.11 per share per diluted share in the first quarter and pretax pre-provision net income of $3.7 million on a pretax pre-provision net income basis, our financial performance was consistent with both the prior quarter and the same period last year.

轉到投影片4，我們第一季的淨利為110 萬美元，即稀釋後每股收益約0.11 美元，以稅前撥備淨利計算，稅前撥備淨利為370 萬美元，我們的財務業績與上一季及去年同期。

With our prudent balance sheet management, we had a further increase in tangible book value per share this quarter.

透過審慎的資產負債表管理，本季我們的每股有形帳面價值進一步增加。

Now I'll turn the call over to Julie for some additional discussion of our balance sheet and trust and investment management trends.

現在我將把電話轉給朱莉，以進一步討論我們的資產負債表以及信託和投資管理趨勢。

Julie, you bet.

朱莉，你敢打賭。

Thank you, Scott.

謝謝你，斯科特。

Turning to slide 5 for a look at the trends in our loan portfolio.

請參閱投影片 5，以了解我們貸款組合的趨勢。

Our loans held for investment decreased $20 million from the end of the prior quarter.

我們持有的投資貸款比上一季末減少了 2,000 萬美元。

But as Scott mentioned, our loans held for investment increased during the month of June.

但正如斯科特所提到的，我們為投資而持有的貸款在六月有所增加。

We continue to be conservative and highly selective in our new new loan production, but we did see a higher level of loan production in the second quarter with total loan production increasing to $50 million, up from $31 million in the prior quarter.

我們在新貸款生產中繼續保持保守和高度選擇性，但我們確實看到第二季的貸款生產水準更高，貸款生產總額從上一季的 3,100 萬美元增至 5,000 萬美元。

Most of our new loan production is coming in the areas of commercial loans and residential mortgages where we are also getting deposit relationships.

我們的新貸款大多來自商業貸款和住宅抵押貸款領域，我們也在這些領域建立了存款關係。

Our level of payoffs were relatively consistent with the prior quarter and higher than our level of loan originations, which resulted in the decline in total loans.

我們的支付水平與上一季相對一致，並且高於我們的貸款發放水平，這導致貸款總額下降。

We continue to be disciplined and we are maintaining our pricing criteria.

我們繼續遵守紀律，並維持我們的定價標準。

This resulted in the average rate on new production being 8.35% in the quarter, which is higher than the average rate of our payoffs, which resulted in the turnover in our loan portfolio being accretive to our average yield on loans.

這導致本季新生產的平均利率為 8.35%，高於我們的平均回報率，從而導致我們的貸款組合的周轉率增加了我們的平均貸款收益率。

Moving to slide 6, we'll take a closer look at our deposit trends.

轉到投影片 6，我們將仔細研究我們的存款趨勢。

Our total deposits declined during the quarter as we saw outflows, primarily driven by seasonal tax payments, operating account fluctuations and clients using liquidity, further strategic investments.

我們的總存款在本季度有所下降，因為我們看到了資金外流，這主要是由於季節性納稅、營運帳戶波動以及客戶使用流動性和進一步的策略投資所致。

However, on an average basis, our deposits are up $39 million compared to the second period of 2023 due to our deposit gathering efforts over the past year.

然而，由於我們過去一年的存款收集工作，我們的存款平均比 2023 年第二季增加了 3,900 萬美元。

We continue to have success in new business development and added $22 million in new deposit relationships during the second quarter.

我們在新業務開發方面繼續取得成功，第二季新存款關係增加了 2,200 萬美元。

We had the largest growth in time deposits during the quarter, which was primarily related to clients moving money into time, deposits from lower yielding deposit accounts due to their desire to take advantage of the higher for longer interest rate environment that we are in.

本季我們的定期存款成長幅度最大，這主要與客戶將資金轉入定期存款有關，因為他們希望利用我們所處的長期較高利率環境，從而從收益率較低的存款帳戶中提取存款。

Turning to trust and investment management on Slide 7, we had a $129 million decrease in our assets under management in the second quarter, driven by asset withdrawals and custody accounts that had minimal impact on trust and investment management fees.

轉向幻燈片 7 上的信託和投資管理，第二季我們管理的資產減少了 1.29 億美元，這是由於資產提取和託管帳戶對信託和投資管理費用影響最小。

However, we have seen an increase in AUM of 8% over the past year.

然而，我們看到去年 AUM 成長了 8%。

Now I'll turn the call over to David for further discussion of our financials David.

現在我將把電話轉給大衛，進一步討論我們的財務狀況，大衛。

Thanks Julie.

謝謝朱莉。

Turning to slide 8, we'll look at our gross revenue.

轉向幻燈片 8，我們將查看我們的總收入。

Our gross revenue decreased 2% from the prior quarter but was up from the average of our prior three quarters.

我們的總收入比上一季下降了 2%，但高於前三個季度的平均值。

We saw positive trends in NIM and mortgage fee income in the quarter.

我們看到本季淨利差和抵押貸款費用收入的正面趨勢。

Now turning to slide 9, we'll look at the trends of net interest income and margin.

現在轉向投影片 9，我們將看看淨利息收入和利潤率的趨勢。

Our net interest income decreased 1.9% from the prior quarter, primarily due to lower levels of interest-bearing cash.

我們的淨利息收入較上一季下降 1.9%，主要是由於帶息現金水準較低。

We continue to see more stability in our NIM, which increased one basis point from the prior quarter to 2.35%.

我們繼續看到淨利差更加穩定，較上一季增加一個基點至 2.35%。

As Scott indicated earlier, we saw an increase in NIM during June, and we expect to see continued expansion in our net interest margin over the second half of the year.

正如史考特早些時候指出的，我們看到 6 月的淨利差有所增加，我們預計下半年淨利差將繼續擴大。

We are seeing an increase in our average yield on interest-earning assets, primarily due to new loans coming on the books at higher rates than the loans that are paying off.

我們看到生息資產的平均收益率有所上升，這主要是由於帳面上的新貸款利率高於已償還貸款的利率。

We added some overnight borrowings to offset the deposit outflows that occurred during the quarter.

我們增加了一些隔夜借款，以抵消本季發生的存款流出。

We plan to reduce these borrowings as deposit balances build back up again.

隨著存款餘額再次增加，我們計劃減少這些借款。

Now turning to Slide 10, our noninterest income decreased 4.2% from the prior quarter, but was up 29.6% from the average of the last three quarters from 2023.

現在轉向投影片 10，我們的非利息收入比上一季下降了 4.2%，但比 2023 年過去三個季度的平均水平增長了 29.6%。

Our largest sources of non interest income trust and investment management fees and net gains on mortgage loans continue to make strong contributions, but they were offset by a decrease in bank fees.

我們最大的非利息收入來源信託和投資管理費以及抵押貸款淨收益繼續做出強勁貢獻，但它們被銀行費用的減少所抵消。

Our net gain on mortgage loans increased from the prior quarter due to a higher level of production resulting from the addition of MLOs earlier in the year as well as an increase in home buying activity that we are seeing in our markets.

我們的抵押貸款淨收益較上一季度有所增加，原因是今年早些時候增加了 MLO，從而提高了生產水平，並且我們在市場上看到了購房活動的增加。

Now turning to Slide 11 and our expenses.

現在轉向投影片 11 和我們的開支。

Our noninterest expense decreased to $19 million, primarily due to a lower level of professional service fees as we continue to make progress on the resolution of our not nonperforming loans.

我們的非利息支出減少至 1,900 萬美元，主要是由於我們在解決非不良貸款方面不斷取得進展，因此專業服務費水準較低。

Our efficiency ratio is back trending in the right direction.

我們的效率比率又回到了正確的方向。

For the next few quarters, we expect noninterest expense to be relatively consistent with the main variable being the level of incentive compensation, which will be dependent upon our financial performance.

在接下來的幾個季度，我們預計非利息支出將與激勵薪酬水準這一主要變數相對一致，這將取決於我們的財務表現。

Now turning to slide 12, we'll look at our asset quality.

現在轉到投影片 12，我們將看看我們的資產品質。

Our non nonperforming assets increased slightly to $49.3 million.

我們的不良資產小幅增加至 4,930 萬美元。

The increase was due to the foreclosure on two properties held as collateral, which are now held in OREO that more than offset the resulting decrease in nonperforming loans due to a participated balance.

這一增加是由於作為抵押品的兩處房產被取消抵押品贖回權，這些房產現在由奧利奧持有，這足以抵消因參與餘額而導致的不良貸款減少。

We continue to make progress on our large workout relationship as we have previously discussed.

正如我們之前討論的那樣，我們繼續在大型鍛鍊關係方面取得進展。

In addition, we had a decline in past-due loans and had a small amount of net recoveries in the quarter.

此外，我們的逾期貸款有所下降，並且本季有少量淨回收。

With the decline we had in loans and the provision recorded in the quarter.

隨著本季貸款和準備金的下降。

Our level of allowance to adjusted loans increased 12 basis points to 1.12% at June 30th.

截至 6 月 30 日，我們調整後貸款的準備金水準增加了 12 個基點，達到 1.12%。

And, now I'll turn it back to Scott.

現在我會把它轉回給史考特。

Thanks David.

謝謝大衛。

Turning to slide 13, I'll wrap up with some comments about our outlook.

轉向投影片 13，我將總結一些關於我們前景的評論。

While economic conditions remain uncertain, we will continue to prioritize prudent risk management and a conservative approach to new loan production.

儘管經濟狀況仍存在不確定性，但我們將繼續優先考慮審慎的風險管理和對新貸款生產採取保守的態度。

In addition, we continue to make progress on resolving the credits that were placed on nonperforming status over the past few quarters.

此外，我們在解決過去幾季處於不良狀態的信貸方面繼續取得進展。

Notably, our past-due loans have continued to decline over the past two consecutive quarters.

值得注意的是，我們的逾期貸款在過去連續兩季持續下降。

We'll also continue to focus on maintaining disciplined expense control and developing new deposit relationships.

我們也將繼續專注於維持嚴格的費用控制和發展新的存款關係。

We're benefiting from the strength of the franchise we've built and we have opened new positions in the organization, we're seeing good opportunities to upgrade our banking talent.

我們受益於我們建立的特許經營權的實力，並且我們在組織中開設了新職位，我們看到了提升銀行人才的好機會。

These new additions along with strong execution across our entire organization, our business development initiatives are positively impacting our pipelines in all areas of the business, including loans, deposits, mortgage banking and investment management.

這些新成員加上我們整個組織的強大執行力，我們的業務發展計畫正在對我們所有業務領域的管道產生積極影響，包括貸款、存款、抵押銀行和投資管理。

We're also in the process of reorganizing investment management business to improve its performance and business development capabilities.

我們也正在重組投資管理業務，以提高其績效和業務發展能力。

Based on the positive trends we're seeing, including the expansion of net interest margins, we expect to generate a higher level of profitability in the second half of the year.

基於我們看到的正面趨勢，包括淨利差的擴大，我們預計下半年將產生更高水準的獲利能力。

We also continue to maintain very strong balance sheet with the increases, we're seeing in our capital ratios and improvement in our asset quality, we have the ability to consider additional options for care capital use.

我們也持續維持非常強勁的資產負債表，隨著資本比率的增加和資產品質的改善，我們有能力考慮更多的護理資本使用選擇。

This led to the authorization of the stock repurchase agreement that we announced in June.

這導致了我們在六月宣布的股票回購協議的授權。

We did not repurchase any shares during the second quarter, but we will but we do have a 10b5-1 plan in place now.

我們在第二季沒有回購任何股票，但我們會回購，但我們現在確實有 10b5-1 計劃。

We believe repurchasing our shares will be in the best interest of shareholders.

我們相信回購股票將符合股東的最佳利益。

With that, we're happy to open the call to take your questions.

至此，我們很高興撥打電話回答您的問題。

Carmen, please open up the call.

卡門，請接通電話。

Thank you.

謝謝。

And, as a reminder, if you do have a question simply press star one one to get in the queue and to remove yourself from Star One once again, One moment for our first question, please.

並且，提醒一下，如果您確實有問題，只需按星一一即可進入隊列並再次將自己從星一中刪除，請稍等一下我們的第一個問題。

And it comes from the line of Woody Lay with KBW.

它來自 Woody Lay 和 KBW 的血統。

Please proceed.

請繼續。

Hey, thanks for taking my questions.

嘿，謝謝你回答我的問題。

I wanted to start with credit.

我想從信用開始。

As expected, there was some movement from NPL's to OREO's or OREO.

正如預期的那樣，從 NPL 到 OREO 或 OREO 發生了一些變化。

Can you just remind us where NPA exposure stands to that one larger relationship?

您能否提醒我們不良資產暴露對此更大關係的影響？

And any updated thoughts on timing around potential resolution?

關於潛在解決方案的時間安排有什麼最新的想法嗎？

Yes, we have just under $30 million of NPL on net one credit plus a specific reserve of 8.2, of which $2.4 million of that was put on in Q2.

是的，我們的淨一筆信貸不良貸款額略低於 3,000 萬美元，加上 8.2 的特定準備金，其中 240 萬美元是在第二季投入的。

With respect to the timing of the other property sales, we had said that this was going to play out over the course of 2024 for which it is, you know, there's a whole sausage making process here that some well underway but is nevertheless, you know, followed started leasing.

關於其他房產銷售的時間安排，我們曾說過，這將在 2024 年期間完成，你知道，這裡有一個完整的香腸製作過程，有些正在進行中，但無論如何，你知道了，接下來就開始租賃了。

We started out with seven properties that we've talked about.

我們從我們討論過的七個屬性開始。

We now have four remaining two of them are in OREO and are being listed and sold during the second half of the year.

我們現在還有四件，其中兩件在奧利奧，下半年上市。

I hope there's another property that's scheduled beyond auctioned off in the first half of August, and that's on track and something we've anticipated all along.

我希望還有另一處房產計劃在八月上半月拍賣，一切都在按計劃進行，這是我們一直期待的。

And, then the timing of the sale of the last property is uncertain right now.

而且，最後一套房產的出售時間目前還不確定。

We're not sure how that's going to play out.

我們不確定事情會如何發展。

Got it.

知道了。

So have your thoughts on the potential loss content changed at all given the increased provision?

那麼，鑑於準備金的增加，您對潛在損失內容的看法是否改變了？

Or was this just sort of a move out out of abundance of caution.

或者這只是出於謹慎而採取的措施。

Well, one of the property, one of the seven properties had a new issue that popped up in Q2 with a clouded title and litigation and that led us to book a zero value for that property in our expectations that we don't want to take further risk on that and we will not have a recovery from that.

嗯，其中一處房產，七處房產之一在第二季度出現了一個新問題，所有權模糊，並引發了訴訟，這導致我們按照我們不想接受的預期為該房產預訂了零價值進一步的風險，我們將無法從中恢復。

So, that was really what drove the specific reserve increase on that relationship.

因此，這確實是推動這種關係的特定準備金增加的原因。

All right.

好的。

Thanks for the color there.

感謝那裡的顏色。

Maybe shifting over onto the net interest margin.

也許會轉向淨利差。

Sounds like it is and saw a little bit of improvement throughout the quarter.

聽起來確實如此，並且在整個季度中看到了一些改善。

Could you just talk through your vacations on the NIM. for the back half of the year?

您能談談您在 NIM 上的假期嗎？下半年？

Sure.

當然。

I'll give it a try and Julie, David, if you guys want to add extra color, please go ahead.

我會嘗試一下，朱莉、大衛，如果你們想添加額外的色彩，請繼續。

You know, on that the two sides of the drive down on loans and deposits, you'll start with loans.

你知道，在減少貸款和存款的兩個方面，你將從貸款開始。

I mean, we're seeing a fair amount of competition on loan pricing, and we still think that there's a possibility of a rate cut in the second half of the year.

我的意思是，我們看到貸款定價方面存在相當多的競爭，而且我們仍然認為下半年有可能降息。

So, we're thinking that our net interest margin will slowly improve, but currently appears that our return to a more normal NIM is going to take some time, which is again, I think in line with what we've talked about before.

因此，我們認為我們的淨利差將慢慢改善，但目前看來，我們恢復到更正常的淨利差將需要一些時間，我認為這又與我們之前討論過的一致。

You know our loans, yes, we did do in Q2 came on our books at an average rate of 8.3%.

你知道我們的貸款，是的，我們在第二季確實以平均 8.3% 的利率入帳。

Is that the right number?

這個數字正確嗎？

David?

大衛？

8.35%

8.35%

8.35%.

8.35%。

So we are getting a nice yield on the new loans that we're booking, although, you know, we're hearing stories from our frontline about people out there doing a five year fixed rate commercial real estate loans that start with a 6% start with the number in the 6% range.

因此，我們在預訂的新貸款中獲得了不錯的收益，儘管我們從我們的前線聽到了關於人們進行五年期固定利率商業房地產貸款的故事，利率從 6% 開始從6% 範圍內的數字開始。

So I mean, you know, there's some definitely things that we're certainly not going to be doing on the loan side.

所以我的意思是，你知道，有些事情我們肯定不會在貸款方面做。

On the deposit side, you know that the cost of funds for the quarter was 3.47, cost of deposits, technically it was 3.47. The spot rate for June 30th was 3.46.

在存款方面，你知道本季的資金成本是 3.47，存款成本，技術上是 3.47。 6月30日即期匯率為3.46。

So, you know, it's not really a big improvement, obviously, but it is an improvement.

所以，你知道，顯然這並不是一個很大的改進，但它是一個改進。

And I think if you look back now several quarters, you see kind of a very nice trend line in terms of its slowing them improving and that and then NIM compression slowing and then improving now in this quarter, which again is in line with what we had guided to in the Q1 business.

我認為，如果你現在回顧幾個季度，你會看到一條非常好的趨勢線，它減緩了它們的改善，然後 NIM 壓縮放緩，然後在本季度得到改善，這再次符合我們的預期指導了第一季的業務。

Anything important there, David or Julie?

大衛或朱莉，有什麼重要的事情嗎？

No, no.

不，不。

All fine.

一切都很好。

All right.

好的。

Thanks for taking my questions.

感謝您回答我的問題。

Thank you.

謝謝。

One moment to our next question.

請稍等一下我們的下一個問題。

It is from the line of Matthew Clark with Piper Sandler.

它出自馬修克拉克 (Matthew Clark) 和派珀桑德勒 (Piper Sandler) 的血統。

Please proceed.

請繼續。

And this is Adam Kroll on for Matthew Clark.

這是亞當克羅爾 (Adam Kroll) 替補馬修克拉克 (Matthew Clark)。

I guess my first question, I was wondering if you happento have NIM spot rate for June?

我想我的第一個問題是，我想知道你們是否有 6 月份的 NIM 即期匯率？

David, you want to go through that?

大衛，你想經歷這件事嗎？

Yes, we saw slight improvement in NIM. in June at 236 versus 235for the quarter.

是的，我們看到淨利差略有改善。 6 月為 236，而本季為 235。

And then switching to expenses, those came down this quarter, and I know you guys are focused on continued investments in talent and technology.

然後轉向費用，這些費用在本季度有所下降，我知道你們專注於對人才和技術的持續投資。

So, I was just wondering how we should think about the expense run rate going forward.

所以，我只是想知道我們應該如何考慮未來的費用運行率。

We have talked about our expenses being in the $19 million range each quarter this year and I think that's about where we landed in Q2.

我們已經談到今年每季的支出在 1900 萬美元範圍內，我認為這就是我們第二季的支出水準。

We have had quite a bit of success bringing on production, new hires.

我們在引進生產和新員工方面取得了相當大的成功。

But that's largely by replacing open positions and the efficiencies that we've had on the back office, middle office side and putting that into new production.

但這主要是透過更換空缺職位和我們在後台、中台方面的效率，並將其投入新的生產。

We've hired 14 additional front office people that are producers here in the first half of the year, adding to our teams in Jackson, Boulder and Fort Collins in particular.

今年上半年，我們又聘請了 14 位前台人員，他們是這裡的製作人，特別是加入了我們在傑克遜、博爾德和柯林斯堡的團隊。

We've also added 5 new MLOs so far this year.

今年到目前為止，我們還增加了 5 個新的 MLO。

So I feel like we've done a really nice job, on one hand, controlling expense on the other hand, getting production capability that's really going to pay out, I think in the second half of the year.

所以我覺得我們做得非常好，一方面控制了開支，另一方面獲得了真正能夠帶來回報的生產能力，我認為在今年下半年。

Got it.

知道了。

That's super helpful.

這非常有幫助。

I guess my last question is, it looks like there were some ongoing deposit remix this quarter and was just wondering, if there was an update on flows you're seeing on the deposit side and any expectations going forward, particularly literally within non interest bearing and if you're seeing sort of stabilization in your deposit base?

我想我的最後一個問題是，看起來本季度有一些正在進行的存款重組，我只是想知道，您在存款方面看到的流量是否有更新以及未來的任何預期，特別是在無息方面如果您看到存款基礎有所穩定？

Yes.

是的。

You know, as we had previewed, we usually see deposit declines in Q2, and we did still see some outflows of non interest-bearing deposits in Q2.

你知道，正如我們所預見的，我們通常會看到第二季存款下降，而第二季我們確實仍然看到一些無息存款流出。

As you pointed out in your question, but you know, with the new production leaders that we've added in several of these markets now, we expect to see an increase in operating company deposits, which of help offset some of the outflow, and we're expecting a stable to improving deposit base over the course of time, second half of the year.

正如您在問題中指出的那樣，但您知道，隨著我們現在在其中幾個市場中增加了新的生產領導者，我們預計營運公司存款會增加，這有助於抵消部分資金外流，並且我們預計，隨著時間的推移，今年下半年存款基礎將穩定改善。

Got it.

知道了。

Thanks for taking my questions.

感謝您回答我的問題。

Yes.

是的。

The Piper questions there with those with that, Adam, that was asking

風笛手在那裡向那些人提問，亞當，那是在問

Yes.

是的。

Okay.

好的。

Yes, thanks.Adam

是的，謝謝，亞當

One moment for our next question.

請稍等一下我們的下一個問題。

It is from the line of Bill Dezellem with Tieton Capital Management.

它來自 Bill Dezellem 和 Tieton Capital Management 的家族。

Please proceed.

請繼續。

Thank you.

謝謝。

I'd like to circle back to your recent comment here that you hired 14 new producers this year.

我想回顧一下您最近的評論，即您今年聘請了 14 位新製片人。

Would you please go into a bit more detail about those, what the net new number and or all of those 14 producers are some of the support around producers.

請您更詳細地介紹這些內容，淨新數量和/或所有這 14 名製作人是對製作人的一些支持。

If you look at our number of production people that we had for producers last year were up 24% year to date versus our total last year.

如果你看看我們去年為製片人配備的製作人員數量，今年迄今為止，我們的製作人員總數比去年增加了 24%。

So these are net new producers.

所以這些都是淨新生產商。

Now some of them in this may be going too far down the rat hole bill, but some of them are vacancies that we've had, frankly, for years we promoted our Boulder Market President to be a regional president who will he's in.

現在，其中一些職位可能在老鼠洞法案中走得太遠，但坦白說，其中一些是我們多年來一直存在的空缺，我們將博爾德市場總裁提升為地區總裁，他將加入其中。

He's been very effective in that job.

他在那項工作中非常有效率。

That's been a great move for us and for him, but he's been doing double duty as the young Boulder Market President, we were able to attract very strong Boulder Market President, who was one of those 14, just as an example, who is a long-time leader in the market that was sort of leading another bank's efforts there.

這對我們和他來說都是一個偉大的舉動，但他作為年輕的博爾德市場總裁履行了雙重職責，我們能夠吸引非常強大的博爾德市場總裁，他是這14 人之一，舉個例子，他是市場的長期領導者，在某種程度上引領了另一家銀行的努力。

And, so I think as I said before, I think we just have really we feel really good about these people that we're bringing in now, including our new market president in Boulder and some of these other places, we've added senior people.

而且，所以我認為正如我之前所說，我認為我們對現在引進的這些人感到非常好，包括我們在博爾德和其他一些地方的新市場總裁，我們增加了高級人員。

I think can really help move the dial for us

我認為確實可以幫助我們改變方向

and Scott, you had mentioned that some of these positions have been opened for a long time.

斯科特，您提到其中一些職位已經開放很久了。

And is it a coincidence that that a number of these long-time open positions are now being filled?

許多長期空缺的職位現在正在被填補，這是否是巧合？

Is it a combination of just having worked on these filling these positions for a long time?

是長期從事這些職位的工作的組合嗎？

Or, is there something loosening in the market with competitors that's leading to two have been easier to hire or those prospective candidates being more interested in making a move?

或者，市場上的競爭對手是否出現鬆動，導致兩個人更容易被聘用，或者那些潛在的候選人更有興趣採取行動？

Yes, that's a great question and I'm not 100% sure of the answer.

是的，這是一個很好的問題，但我無法 100% 確定答案。

I do believe that there is turmoil in our markets today that we really haven't seen over the last couple of years and that's creating opportunity to bring new people in.

我確實相信，今天的市場出現了過去幾年從未見過的動盪，這為引進新人創造了機會。

And, if you look kind of anecdotally at each of the 14 stories that seems to bear out, I'm not sure.

而且，如果你以軼事的方式看待這 14 個故事中的每一個，我也不確定。

I can tell you we had our semi-annual day one summit with all of our managers in the company here over the last day and a half, and there's a very positive tone with those folks, the front office ones in particular, and I think you know what I would say, I think that there's a lot of turmoil in the market and this is a good time to be upgrading our talent people seem to agree with that identity, getting pushback on that.

我可以告訴你，在過去的一天半里，我們與公司的所有經理舉行了半年度的第一天峰會，這些人，特別是前台人員，氣氛非常積極，我認為你知道我會說什麼，我認為市場上有很多動盪，現在是提升我們人才的好時機，人們似乎同意這種身份，但遭到了抵制。

So, i do think it's more in your question, the latter than the former, but we'll have to see how it goes the rest of the year.

所以，我確實認為你的問題更多的是後者，而不是前者，但我們必須看看今年剩餘時間的情況如何。

I mean, I'd love to be six months from now talking about additional talent that we've been able to track to build organic growth story in 2025.

我的意思是，我很樂意在六個月後談論我們已經能夠追蹤的額外人才，以在 2025 年建立有機成長故事。

Great.

偉大的。

That's really helpful.

這真的很有幫助。

Julie is looking like as she got something to add there.

朱莉看起來好像有什麼要補充的。

Go head Julie

朱莉走吧

I was going to add Bill that, I think, First Western has a differentiated story to tell to.

我想補充一下比爾，我認為第一西部有一個與眾不同的故事要說。

And more and more, our name is getting out there with talent, but also clients and prospects as a place that, you know, has high quality relationships and that's on both sides of the equation on the client and the associate side.

我們的名字越來越多地與人才、客戶和潛在客戶一起出現，因為我們擁有高品質的關係，並且在客戶和員工方面都具有高品質的關係。

So, as an add-on to that comment, I think that we're getting known a little bit more in the market as a great place to work as well.

因此，作為該評論的補充，我認為我們作為一個理想的工作場所在市場上的知名度也有所提高。

Great, thank you.

太好了，謝謝。

And then relative to mortgage, you have seen a nice upstick there and the commentary in the market for the national market.

然後相對於抵押貸款，您可以看到那裡的良好上漲以及全國市場的評論。

And, i recognize that you are not in across the entire country, but is that the mortgage business is pretty stagnant and a fair amount of disappointment in terms of the numbers.

而且，我知道您並不在整個國家，但抵押貸款業務相當停滯，而且就數字而言相當令人失望。

Is what I am seeing with the national numbers just being skewed by the normal seasonality?

我所看到的全國數據是否只是受到正常季節性的影響？

Or are you seeing something different in your marketplace or maybe with specifically your MLOs that's leading to this uptick that you've that you've seen, which kind of on the surface looks like a bit of a rebound for you.

或者你是否在你的市場中看到了一些不同的東西，或者可能是你的 MLO 導致了你所看到的這種上升，表面上看起來對你來說有點反彈。

Yes, I would say it's a lot more than I read a little bit of a rebound.

是的，我想說這比我讀到的一點點反彈要多得多。

We had a really nice rebound.

我們的反彈非常好。

And it's flipped us from, we had six months last year where we lost $250,000 or more in contribution than we've had really nice earnings, I think $150,000 or more coming out of mortgages over the last four months now.

它讓我們從去年的六個月裡，我們損失了25 萬美元或更多的捐款，而不是我們真正不錯的收入，我認為在過去的四個月裡，我們從抵押貸款中損失了15 萬美元或更多。

So definitely, I mean, again, I'm not sure how much of that is national trends or trends in our market or whatever.

所以，我的意思是，我不確定其中有多少是國家趨勢或我們市場的趨勢或其他什麼。

But it's certainly happening in our market.

但這確實發生在我們的市場。

If you look at the reasons why, though it's not just, you know, manna from heaven here, this is part of a concerted effort by us to support our mortgage team.

如果你看看其中的原因，儘管這不僅僅是來自天堂的甘露，但這是我們為支持我們的抵押貸款團隊而共同努力的一部分。

And, then I build our mortgage team and we've added five more MLOs mortgage loan officers in the first half of the year, which are bringing additional production, and that's going to accelerate the second half of the year, right?

然後我建立了我們的抵押貸款團隊，我們在上半年增加了五名 MLO 抵押貸款官員，這帶來了額外的產量，這將加速下半年，對嗎？

When they're new, it takes them a little time.

當他們是新人時，他們需要一些時間。

And, we also have just opened two new MLO loan production offices in the last week or two, I think now.

而且，我認為現在我們剛在過去一兩週內開設了兩個新的 MLO 貸款生產辦公室。

One in Northern Colorado, one in Southeast Wyoming that I think are going to be very helpful to those new folks in building their production.

一個在科羅拉多州北部，一個在懷俄明州東南部，我認為這對那些新人建造他們的生產非常有幫助。

So, I think it is a combination bill of a little bit lower rates, a little bit better activity in mortgages.

所以，我認為這是一個利率稍微降低一點、抵押貸款活動稍微好一點的組合法案。

I think some nice work by the mortgage team here under Julie's leadership and, then also hiring these new MLO's.

我認為抵押貸款團隊在 Julie 的領導下做得很好，而且還僱用了這些新的 MLO。

Which are continuing to do that was one of the reasons for the office opening and attracting group more MLO's

繼續這樣做是開設辦事處並吸引更多 MLO 的原因之一

And relative to your pipeline of new MLOs, do you anticipate being able to hire an equal number or more in the second half.

相對於您的新 MLO 管道，您預計下半年能夠僱用相同數量或更多的人嗎？

So five or more?

那麼五個或更多？

It is hard to forecast and tell.

很難預測和判斷。

But, we have plans and our goals are that come to us to do the same amount of new hires in the second half of the year, and we'll see how that plays out.

但是，我們有計劃，我們的目標是在今年下半年招募相同數量的新員工，我們將看看結果如何。

Great.

偉大的。

Since, we're talking about the pipeline of humans and let's jump to the to the 14 new producers on the non-mortgage side of the business.

既然我們談論的是人類的管道，那麼讓我們跳到非抵押貸款業務方面的 14 個新生產商。

Do you think you can repeat that in the second half?

你認為你能在下半場重複這樣的做法嗎？

I don't know the answer to that.

我不知道答案。

I think that, you know, as I said we've had this meeting here last day and a half of our senior people.

我認為，正如我所說，我們在過去一天半的時間裡在這裡召開了我們的高層會議。

And I have definitely tasked our senior leaders to look for the top talent in the market and let them know we're open for business.

我明確要求我們的高階領導者尋找市場上的頂尖人才，並讓他們知道我們正在進行業務。

You know, I think a lot of banks are being cautious right now, and I think there's a lot of turmoil in our markets.

你知道，我認為現在很多銀行都持謹慎態度，而且我認為我們的市場有許多動盪。

We have some new acquirers that have come to town that are going to have their deals approved.

我們有一些新的收購者來到城裡，他們的交易將獲得批准。

I think, over the next six months or something like that and that just creates a lot of opportunity with them clients and tough channel to be unsettled.

我認為，在接下來的六個月或類似的時間內，這只會為他們的客戶創造很多機會，並創造一個難以解決的艱難管道。

And, I want our people to be focused on that and that brings some more new people here, that would be terrific.

而且，我希望我們的員工能夠專注於此，這會帶來更多新人，那將是非常棒的。

Great.

偉大的。

Thank you both for the time.

謝謝你們兩位抽出時間。

Thank you, Bill.

謝謝你，比爾。

Our next question comes from the line of Ross Haberman with RLH investments.

我們的下一個問題來自羅斯·哈伯曼 (Ross Haberman) 與 RLH 投資的關係。

Please proceed.

請繼續。

Good morning all.

大家早安。

Just a couple of questions.

只是幾個問題。

I got on a bit late.

我來得有點晚了。

I'm sorry, if you mentioned this.

如果你提到這一點，我很抱歉。

The additions to your non-performers, these two pieces of collateral that you took back, did you say you think you're pretty well security against those?

新增的不良人員，你收回的這兩塊抵押品，你是否說你認為你可以很好地抵禦這些？

The two piece of collateral?

兩份抵押品？

Yes, is the short answer.

是的，這是簡短的答案。

The two pieces of collateral, it is the same stuff we've been talking about for on a year or however long it is been.

這兩塊抵押品，與我們一年來或無論多久以來一直在談論的東西是一樣的。

And, having them as collateral is a plus because now

而且，將它們作為抵押品是一個優勢，因為現在

Right, yes you can control it.

是的，是的，你可以控制它。

We control it and we can sell it.

我們控制它，我們可以出售它。

And so we can control it, we're going to sell them.

所以我們可以控制它，我們將出售它們。

I got it.

我得到了它。

Anything else in the in the criticized or delinquent that you're concerned about today that you're losing sleep about or for basically what we did, these are the main items which you laid out for.

您今天擔心的批評或違法行為中的任何其他事情，或者基本上是我們所做的事情，這些都是您列出的主要項目。

Yes, that's a great question.

是的，這是一個很好的問題。

And we talked a little bit about in our prepared remarks and in the deck.

我們在準備好的演講和演講中討論了一些內容。

But I think you know the headlines to me on that are you know that the top line number of our whichever one you want to use NPL or NPA is not a number we're happy about, but it really is driven by the one credit that we've been talking about.

但我想你知道我的頭條新聞是，你知道，無論你想使用 NPL 或 NPA 的哪一個，我們的頂行數字都不是我們滿意的數字，但它確實是由一個信用驅動的我們一直在談論。

We have been talking about these two credits now for the last six quarters and if one was written off.

我們現在一直在討論過去六個季度的這兩個貸項以及是否有一個被註銷。

So, any further news on that one is going to be positive because it's going to be a recovery if there's news and so on.

因此，任何有關該問題的進一步消息都將是積極的，因為如果有消息等，那麼這將是一場復甦。

So, now we're down to one.

所以，現在我們只剩下一個了。

And that one we said was going to be a workout project and it is a workout project and it's proceeding more or less like we thought.

我們說的那個將是一個鍛煉項目，它是一個鍛煉項目，它的進展或多或少像我們想像的那樣。

And , I would say that with a little luck, we'll be out of that by the end of the year.

而且，我想說，如果運氣好的話，我們將在今年年底擺脫這種情況。

And, if not beat or maybe it's still a little bit into next year.

而且，如果沒有被擊敗，或者可能距離明年還有一段時間。

But, generally I think that that that is showing up in the numbers with a declining NPA trend.

但是，總的來說，我認為這在 NPA 下降趨勢的數字中得到了體現。

Now, you have that that went backwards in Q2 for the reasons we talked about where the value of the OREO that we brought on was higher than the loan balance.

現在，第二季度出現了倒退，原因是我們談到了我們帶來的奧利奧的價值高於貸款餘額。

So, that had the effect of increasing NPAs, but that's sort of a good problem in a way and you will sell that the NPAs have come down and the NPLs will continue to come down as we work out that well.

因此，這產生了增加不良貸款的效果，但這在某種程度上是一個好問題，你會認為不良貸款已經下降，不良貸款將繼續下降，因為我們做得很好。

Excuse me, Ross.

對不起，羅斯。

One more point.

還有一點。

All the credit metrics that we follow are showing positive trends.

我們遵循的所有信用指標都顯示出正面的趨勢。

So I think that was the other half of your question?

所以我認為這是你問題的另一半？

Sorry.

對不起。

Go head.

走吧。

Could you tell me how much expense was incurred in terms of dealing with all these non performing assets as part of the non interest expense number for the quarter.

您能否告訴我，在處理所有這些不良資產方面產生了多少費用，作為該季度非利息費用的一部分。

I don't know that total of that, but maybe Julie or David, do.

我不知道全部內容，但也許朱莉或大衛知道。

It's not a non-zero number of time and effort that it takes around expense number.

它所花費的時間和精力並不是非零的費用數字。

You know, frankly, as we went through the second quarter, I think that did come down as we go through the year.

坦白說，當我們經歷第二季度時，我認為隨著我們經歷這一年，這一數字確實有所下降。

I think that will continue to come down.

我認為這一數字將會繼續下降。

It's interesting.

這很有趣。

If you look at criticized and classified looking, I'll give you more data on the positive trends.

如果您查看批評和分類的外觀，我將為您提供更多有關積極趨勢的數據。

If you look at criticized and classifieds during the second quarter, they were below the prior three quarter ends and trending down.

如果您查看第二季的批評和分類廣告，您會發現它們低於前三個季度末，並且呈下降趨勢。

There's about $80 million total in 331 and about $60 million total in 630 so I think they have some, as I said, the underlying trends are strong.

331 的總金額約為 8000 萬美元，630 的總金額約為 6000 萬美元，所以我認為他們有一些，正如我所說，潛在的趨勢很強勁。

We talked in the prepared comments about our past-dues being down significantly over the last couple of quarters.

我們在準備好的評論中談到，過去幾季我們的逾期未付款項大幅下降。

I was just wondering if you have down ongoing sort of expenses material, that's sort of what I'm getting at.

我只是想知道你是否有持續的開支材料，這就是我的意思。

Yes, between, our legal fees and other workout costs that come with those efforts and it was about $300,000 for the quarter.

是的，我們的法律費用和其他與這些努力相關的費用，本季約為 30 萬美元。

Okay.

好的。

Got it.

知道了。

I think it was down from Q1, David?

我認為它比第一季有所下降，大衛？

Absolutely.

絕對地。

Yes, Okay.

是的，好的。

That doesn't include the opportunity topline to get off.

這還不包括下車的機會。

It's not earning interest-earning assets off the books and can deploy those into interest-bearing.

它不會在帳面上賺取生息資產，而是可以將其配置為生息資產。

So, that that's a not immaterial number either.

所以，這也不是一個無關緊要的數字。

These are things that we're working heavily to get off the books because of the inherent cost for them to have lower doses.

我們正在大力努力將這些事情從帳簿中刪除，因為降低劑量會產生固有成本。

That was the surprising number.

這是一個令人驚訝的數字。

When, Julie first pointed that out six months ago or something if you would, If you jad had all those NPAs turn into interest bearing assets, It is a meaningful EPS uptick.

當朱莉在六個月前首次指出，如果你願意的話，如果你將所有這些不良資產變成生息資產，那麼每股收益將會大幅上升。

You had some.

你有一些。

I think it was some new office or lending offices in Bozeman and Arizona, how are they faring?

我認為這是博茲曼和亞利桑那州的一些新辦事處或貸款辦事處，他們的情況如何？

So they're full service offices.

所以他們是全方位服務的辦公室。

Bozeman office is making really nice progress.

博茲曼辦公室正在取得非常好的進展。

I mean, as that market continues to be full of opportunity.

我的意思是，這個市場仍然充滿機會。

Our Market President up was here yesterday for those meetings that I mentioned and has a very positive outlook on the opportunity there.

我們的市場總裁昨天在這裡參加了我提到的那些會議，並對那裡的機會抱持著非常正面的看法。

So that's going well.

所以一切進展順利。

Arizona, we've really retooled the staff there over the last, what's really 12 to 18 months, something like there, and they're fully staffed in both of our locations there now with really strong people part of this new production hiring that we've talked about is some in Arizona.

亞利桑那州，我們在過去確實對那裡的員工進行了重組，實際上是12 到18 個月，就像在那裡一樣，現在我們在那裡的兩個地點都配備了足夠的人員，我們在新的生產招募中擁有非常強大的人員。

And I think the folks that are working on that here internally, the Regional Presidents and Market Presidents, but local producers seem very positive on the outlook.

我認為在內部致力於此的人們，區域總裁和市場總裁，但當地生產商似乎對前景非常樂觀。

So, Arizona is making money in a hedge for a long time.

因此，亞利桑那州長期以來一直在對沖中賺錢。

So I mean that's that's fine.

所以我的意思是這樣就可以了。

We'd like to see us do a lot better.

我們希望看到我們做得更好。

I always like to remind our leaders there that if we had the same market share in Arizona, actually actually and in the Phoenix MSA that we have in our largest market share market, which is Fort Collins, MSA, we'd be $4 billion bigger.

我總是想提醒我們的領導者，如果我們在亞利桑那州和菲尼克斯MSA 擁有相同的市場份額，我們在最大的市場份額市場（MSA 的柯林斯堡）擁有相同的市場份額，那麼我們的收入將增加40億美元。

So I do think that there's a lot of opportunity in Arizona for us, and we feel like we're building a team there that can realize.

所以我確實認為亞利桑那州對我們來說有很多機會，我們覺得我們正在那裡建立一支能夠實現這一目標的團隊。

And just one last question.

還有最後一個問題。

Any large expenditures expected in the next quarter or two, I guess besides the workout Expenses further for the nonperforming assets.

我想除了不良資產的進一步支出外，預計未來一兩個季度還會有任何大筆支出。

I think, the answer to that is no, but I can't resist the slow pitch here.

我想，答案是否定的，但我無法抗拒這裡的慢節奏。

And Julie, I'll start and if you want to jump in and explain it better, please feel free.

朱莉，我將開始，如果你想插話並更好地解釋它，請隨意。

We have decided that our tech platform is due for a pretty big rebuild and that we can probably save money in the process.

我們決定對我們的技術平台進行相當大的重建，我們可能可以在過程中節省金錢。

And after the process of doing that, so, you know, that involves changing our the way our tech platform is hosted and changing our use of the core and modernizing the whole thing into the cloud and using fintech solutions.

在這樣做的過程之後，你知道，這涉及改變我們技術平台的託管方式、改變我們對核心的使用、將整個系統現代化到雲端並使用金融科技解決方案。

And, to do that, we had to rebuild the foundation, and that's 80% from something like that.

而且，要做到這一點，我們必須重建基礎，其中 80% 都來自類似的事情。

The foundational build, yes.

基礎構建，是的。

The foundational build.

基礎建構。

And, I think we're beginning to implement the middleware piece of it now and we'll implement the bells and whistles part of it after that, which will be Q4 and early next year, something like that, that will start.

而且，我認為我們現在就開始實施其中的中間件部分，之後我們將實施其中的附加功能部分，這將是第四季度和明年初，類似的事情將會開始。

So, i think in future calls, we'll be talking about some of the efficiency gains there.

因此，我認為在未來的電話會議中，我們將討論一些效率提升的問題。

And those will actually be some definitely some gains in terms of the efficiency and effectiveness that we're delivering to associates internally and to clients.

實際上，這些肯定會提高我們提供給內部員工和客戶的效率和效果。

But also I think some nice overall cost saves as well.

但我也認為整體成本也能省一些。

Thank you.

謝謝。

And as I don't see any further questions in the queue, I will conclude the Q&A session and pass the call back to Scott for final comments.

由於我在隊列中沒有看到任何其他問題，因此我將結束問答環節，並將電話轉回給斯科特以徵求最終意見。

All right.

好的。

Carmen, well thank you.

卡門，謝謝你。

And thanks for everybody for joining today.

感謝大家今天的加入。

Just in terms of concluding comments, I would say, you know, some of the headline numbers are challenging here.

就結論而言，我想說，你知道，一些標題數字在這裡具有挑戰性。

You know, we're not happy with the EPS and efficiency ratio, the asset quality numbers, but the areas progressing largely as we had expected and indicated earlier and in line with our prior guidance.

你知道，我們對每股盈餘、效率比率、資產品質數字並不滿意，但這些領域的進展很大程度上符合我們的預期和先前的指示，並且符合我們先前的指導。

In addition to two things we talked about, and there's just a number of very positive underlying trends that we are seeing for the second half of the year, certainly saw it in Q2.

除了我們討論的兩件事之外，我們在今年下半年看到了許多非常積極的潛在趨勢，當然在第二季也看到了。

We saw in June, and we're seeing and so far in July as well, which we think are going to help us in Q3, Q4 and ultimately in 2025.

我們在 6 月看到了這一情況，並且在 7 月迄今為止也看到了這一情況，我們認為這將在第三季、第四季以及最終 2025 年對我們有所幫助。

And these include some of the things we've talked about.

其中包括我們討論過的一些事情。

Expense control, this includes new deposit relationships, improving fee income, asset quality improvements better name outlook, new producers on board, favorable efficiency ratio trend and bigger pipelines throughout the organization.

費用控制，這包括新的存款關係、提高費用收入、資產品質改善、更好的名稱前景、新生產商的加入、有利的效率比趨勢和整個組織更大的管道。

So, I think there is a positive story going forward, and we really thank everybody for dialing in today for your interest and for your support for First Western.

所以，我認為未來會有一個正面的故事，我們非常感謝今天撥通電話的大家對第一西部的關注和支持。

And thanks again.

再次感謝。

Have a great rest of your day.

祝您有個愉快的一天。

and thank you all for participating In today's conference.

感謝大家參加今天的會議。

You may now disconnect.

您現在可以斷開連線。