# EDGAR Filing Document

**Accession Number:** 0001327607
**File Stem:** 0001327607-25-000104
**Filing Date:** 2025-6
**Character Count:** 22392
**Document Hash:** 140c38b4e8dd4b236ed141e56babf786
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001327607-25-000104.hdr.sgml**: 20250620

**ACCESSION NUMBER**: 0001327607-25-000104

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 18

**FILED AS OF DATE**: 20250620

**DATE AS OF CHANGE**: 20250620

**EFFECTIVENESS DATE**: 20250620

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Western Financial Inc
- **CENTRAL INDEX KEY:** 0001327607
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 371442266
- **STATE OF INCORPORATION:** CO

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288191
- **FILM NUMBER:** 251061557

**BUSINESS ADDRESS:**
- **STREET 1:** 1900 SIXTEENTH ST, #1200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 303-531-8100

**MAIL ADDRESS:**
- **STREET 1:** 1900 SIXTEENTH ST, #1200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202

**As filed with the Securities and Exchange Commission on June 20, 2025**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**FIRST WESTERN FINANCIAL, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Colorado** | **37-1442266** |
| (State or other jurisdiction | (I.R.S Employer Identification No.) |
| of incorporation or organization) | |

---

---

| | |
|:---|:---|
| **1900 16th Street, Suite 1200** | |
| **Denver, Colorado** | **80202** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**First Western Financial, Inc. Omnibus Incentive Plan**

**(Full title of the plan)**

**Scott C. Wylie**

**Chairman, Chief Executive Officer and President**

**1900 16**<sup>th</sup> **Street, Suite 1200**

**Denver, Colorado 80202**

**(303) 531-8100**

**(Name, address, and telephone number, including area code, of agent for service)**

**With a copy to:**

**Michael G. Keeley, Esq.**

**Norton Rose Fulbright US LLP**

**2200 Ross Avenue, Suite 3600**

**Dallas, TX 75201**

**(214) 855-3906**

**(214) 855-8200 (facsimile)**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | □ | Accelerated filer | ⌧ |
| Non-accelerated filer | □ | Smaller reporting company | ⌧ |
| | | Emerging growth company | □ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. □

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**EXPLANATORY NOTE** 

The Company is filing this Registration Statement on Form S-8 (this "<u>Registration Statement</u>") with the Securities and Exchange Commission (the "<u>Commission</u>") to register an additional 150,000 shares of its common stock, no par value ("<u>Common Stock</u>"), pursuant to the First Western Financial, Inc. Omnibus Incentive Plan, as amended and restated effective April 23, 2025 (the "Plan"). The Plan is a continuation of, and amends and restates in its entirety, that certain First Western Financial, Inc. 2016 Omnibus Incentive Plan, as amended, originally adopted by the Company as of November 18, 2016 (the "Original Plan"). The Company previously filed a Registration Statement on Form S-8 with the Commission on September 18, 2018 (Registration No. 333-227402) (the "<u>Earlier Registration Statement</u>") pursuant to which 1,380,644 shares of its Common Stock were registered for issuance under the Original Plan. Pursuant to General Instruction E to Form S-8, the contents of the Earlier Registration Statement are incorporated herein by reference and made part of this Registration Statement, except to the extent supplemented, amended or superseded by the information set forth herein. The Plan, as amended and restated, was unanimously adopted by the Company's Board of Directors on April 23, 2025 and became effective upon the approval of the Company's stockholders on June 4, 2025 at the Company's 2025 Annual Meeting of Stockholders. The maximum aggregate number of shares of Common Stock issuable under the Plan is 1,530,644.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The information required by Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under the Securities Act. Pursuant to Rule 428(b)(1) and the requirements of Part I of Form S-8, the documents containing such information are not being filed with the Commission either as part of this Registration Statement or as prospectuses (or prospectus supplements) pursuant to Rule 424 under the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

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| | |
|:---|:---|
| **Item 3.** | **Incorporation of Documents by Reference**.  |

---

Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, the following documents have been filed by the Company with the Commission and are incorporated by reference into this Registration Statement and will be deemed to be a part hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Company's Annual Report on Form 10-K (the "Annual Report") for the year ended December 31, 2024, filed with the Commission on March 7, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the information specifically incorporated by reference into the Annual Report from the Company's Definitive Proxy Statement Schedule 14A for the 2025 Annual Meeting of Shareholders filed with the Commission on April 25, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Commission on May 7, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Company's Current Reports on Form 8-K filed with the Commission on April 28, 2025, May 15, 2025, June 6, 2025, and June 9, 2025 (excluding any portions thereof which are deemed "furnished" rather than filed with the Commission);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all other reports of the Company filed pursuant to Section 13(a) or 15(d) of the Exchange Act, since the end of the fiscal year covered by the annual report referred to in (a) above; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the description of the Company's common stock, no par value, contained in the Company's Registration Statement on Form 8-A (File No. 001-38595), filed with the Commission on July 17, 2018 (including any amendments or reports filed for the purpose of updating such description).

------

Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, all documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall also be deemed to be incorporated by reference herein and to be a part hereof from the dates of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statements so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 8. Exhibits.**

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| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| 4.1 | <u>[Amended and Restated Articles of Incorporation of First Western Financial, Inc. (incorporated by reference to Exhibit 3.1 to the Company's Form S-1/A filed with the Commission on July 3, 2018)](https://www.sec.gov/Archives/edgar/data/1327607/000104746918004859/a2236165zex-3_1.htm)</u> |
| 4.2 | <u>[Amended and Restated Bylaws of First Western Financial, Inc. (incorporated by reference to Exhibit 3.2 to the Company's Form S-1/A filed with the Commission on July 3, 2018)](https://www.sec.gov/Archives/edgar/data/1327607/000104746918004859/a2236165zex-3_2.htm)</u> |
| 4.3 | <u>[Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Company's Form S-1 filed with the Commission on June 19, 2018)](https://www.sec.gov/Archives/edgar/data/1327607/000104746918004573/a2235917zex-4_1.htm)</u> |
| 5.1\* | <u>[Opinion of Norton Rose Fulbright US LLP](myfw-formsx8x2025xex51xopi.htm)</u> |
| 23.1\* | <u>[Consent of Crowe LLP](myfw-formsx82025crowellpco.htm)</u> |
| 23.3\* | <u>[Consent of Norton Rose Fulbright US LLP (included in Exhibit 5.1)](myfw-formsx8x2025xex51xopi.htm)</u> |
| 24.1\* | <u>[Power of attorney](myfw-formsx8x2025xpowero.htm)</u> |
| 99.1 | <u>[First Western Financial, Inc. Omnibus Incentive Plan, as amended and restated April 23, 2025 (incorporated by reference to Exhibit 10.1 to the Company's Form 8-K filed with the Commission on June 6, 2025)](https://www.sec.gov/Archives/edgar/data/1327607/000132760725000071/fwfiomnibusincentiveplanas.htm)</u> |
| 107\* | <u>[Filing Fee Table](exfilingfees.htm)</u> |

---

![image_0a.jpg](image_0a.jpg)

**\*** Filed herewith.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Denver, State of Colorado, on June 20, 2025.

---

| | |
|:---|:---|
| **FIRST WESTERN FINANCIAL, INC.** | **FIRST WESTERN FINANCIAL, INC.** |
| By: | /s/ Scott C. Wylie |
|  | Name: Scott C. Wylie |
|  | Title: Chairman, Chief Executive Officer and President |

---

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Title** | **Date** |
|  | Chairman, Chief Executive Officer, and President of First Western Financial, Inc. (Principal Executive Officer) | June 20, 2025 |
| /s/ Scott C. Wylie |  |  |
| Scott C. Wylie |  |  |
|  | Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer) | June 20, 2025 |
| \* |  |  |
| David R. Weber |  |  |
|  | Director, Chief Operating Officer, and President of First Western Trust Bank | June 20, 2025 |
| \* |  |  |
| Julie A. Courkamp |  |  |
| \* | Director | June 20, 2025 |
| Julie A. Caponi |  |  |
| \* | Director | June 20, 2025 |
| David R. Duncan |  |  |
| \* | Director | June 20, 2025 |
| Thomas A. Gart |  |  |
| \* | Director | June 20, 2025 |
| Patrick H. Hamill |  |  |

---

------

---

| | | |
|:---|:---|:---|
| \* | Director | June 20, 2025 |
| Scott. C. Mitchell |  |  |
| \* | Director | June 20, 2025 |
| Luke A. Latimer |  |  |
| \* | Director | June 20, 2025 |
| Ellen S. Robinson |  |  |
| \* | Director | June 20, 2025 |
| Mark L. Smith |  |  |
| \* | Director | June 20, 2025 |
| Joseph C. Zimlich |  |  |
| \* By: /s/ Scott C. Wylie |  |  |
| Scott C. Wylie |  |  |
| Attorney-in-Fact |  |  |
| June 20, 2025 |  |  |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? exfilingfees

**Exhibit 107**

**CALCULATION OF FILING FEE TABLE**

**Form S-8**

**(Form Type)**

**First Western Financial, Inc.**

**(Exact Name of Registrant as Specified in its Charter)**

**<u>Table 1: Newly Registered Securities</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount to be Registered(1)** | **Proposed Maximum Offering Price Per Unit(2)** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Common Stock, no par value | Rule 457(c) and Rule 457(h) | 150000 | $20.91 | $3136500.00 | $153.10 per million dollars | $480.20 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $3136500.00 |  | $480.20 |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  | - | - | - |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $480.20 |

---

(1) Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), this Registration Statement shall also cover any additional indeterminable number of shares of First Western Financial, Inc. (the "<u>Company</u>") common stock, no par value ("<u>Common Stock</u>"), that may become issuable pursuant to the First Western Financial, Inc. Omnibus Incentive Plan, as amended and restated April 23, 2025 (the "<u>Plan</u>") by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the registrant's receipt of consideration, which results in an increase in the number of outstanding shares of the registrant's Common Stock.

(2) Estimated solely for purposes of calculating the registration fee in accordance with Rules 457(c) and 457(h) under the Securities Act. The maximum offering price per share and the maximum aggregate offering price are based on a price of $20.91 per share, which is the average of the high and low sales prices of shares of Common Stock on The Nasdaq Stock Market LLC on June 16, 2025.

## Exhibit 5.1

![image_0b.jpg](image_0b.jpg)

**Exhibit 5.1**

Norton Rose Fulbright US LLP 2200 Ross Avenue, Suite 3600<br>Dallas, Texas 75201-7932<br>United StatesTel +1 214 855 8000<br>Fax +1 214 855 8200<br>nortonrosefulbright.com

June 20, 2025

First Western Financial, Inc.<br>1900 16th Street, Suite 1200<br>Denver, Colorado 80202&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Ladies and Gentlemen:

We have acted as special counsel to First Western Financial, Inc., a Colorado corporation (the "**Company**"), in connection with the Company's registration under the Securities Act of 1933, as amended (the "**Act**"), of the offer and sale of up to 150,000 shares (the "**Shares**") of the Company's common stock, no par value ("**Common Stock**"), that may be issued under Company's Omnibus Incentive Plan, as amended and restated April 23, 2025 (the "**Plan**") as described in the Company's Registration Statement on Form S-8 (as may subsequently be amended, the "**Registration Statement**").

In reaching the opinions set forth herein, we have examined and are familiar with originals or copies, certified or otherwise identified to our satisfaction, of such documents and records of the Company and such statutes, regulations and other instruments as we deemed necessary or advisable for purposes of this opinion, including (i) the Company's Amended and Restated Articles of Incorporation; (ii) the Company's Amended and Restated Bylaws; (iii) resolutions of the Company's Board of Directors (or any committee thereof) relating to the Registration Statement and the Plan; (iv) the Plan; and (v) such other certificates, statutes and other instruments and documents as we considered necessary or appropriate for purposes of rendering the opinions expressed in this letter. As to matters of fact relevant to the opinions expressed below and as to factual matters arising in connection with our review of corporate documents, records and other documents and writings, we have relied upon certificates and other communications of officers and employees of the Company without further investigation as to the facts set forth in such certificates and communications. We have assumed the genuineness of all signatures on, and the authenticity of, all documents submitted to us as originals, the conformity to authentic original documents of all documents submitted to us as copies thereof, the due authorization, execution and delivery by the parties thereto other than the Company of all documents examined by us, and the legal capacity of each individual who signed any of those documents. We have further assumed that there will be no material changes in the documents we have examined and that, at all times prior to the issuance of any Shares, the Company will maintain a sufficient number of authorized but unissued shares of Common Stock available for issuance.

Based upon the foregoing, and subject to the assumptions, qualifications, limitations and exceptions set forth in this letter, we are of the opinion that the Shares, when issued and sold in

Norton Rose Fulbright US LLP is a limited liability partnership registered under the laws of Texas.&nbsp;&nbsp;&nbsp;&nbsp;

Norton Rose Fulbright US LLP, Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP and Norton Rose Fulbright South Africa Inc are separate legal entities and all of them are members of Norton Rose Fulbright Verein, a Swiss verein. Norton Rose Fulbright Verein helps coordinate the activities of the members but does not itself provide legal services to clients. Details of each entity, with certain regulatory information, are available at nortonrosefulbright.com.

------

the manner described in the Plan and pursuant to the agreements that accompany the Plan, will be validly issued, fully paid, and non-assessable.

The foregoing opinions are limited in all respects to the applicable provisions of the laws of the State of Colorado and the applicable federal laws of the United States of America, and we do not express any opinion as to the applicability or effect of the laws of any other jurisdiction. We express no opinion as to any matter other than as set forth in this letter, and no other opinion may be inferred or implied. Our opinion is given as of the date of this letter, and we undertake no, and disclaim any, obligation to advise you of any change in any matter set forth in this letter.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and the reference to this firm wherever it appears in the Registration Statement. By giving such consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.

Very truly yours,

/s/ Norton Rose Fulbright US LLP

Norton Rose Fulbright US LLP

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in this Registration Statement on Form S-8 of First Western Financial, Inc. of our report dated March 7, 2025 relating to the consolidated financial statements of First Western Financial, Inc. and our report dated the same date relative to the effectiveness of internal control over financial reporting, appearing in the Annual Report on Form 10-K of First Western Financial, Inc. for the year ended December 31, 2024.

/s/ Crowe LLP

Denver, Colorado

June 20, 2025

## Exhibit 24.1

![](myfw-formsx8x2025xpowero001.jpg)

POWER OF ATTORNEY Each person whose signature appears below constitutes and appoints Scott C. Wylie and David R. Weber, and each of them individually, his true or her and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead to affix his or her signature as director or officer or both, as the case may be, of the registrant, to this Registration Statement on Form S-8 under the Securities Act of 1933, as amended, and any and all amendments thereto (including post-effective amendments), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and the dates indicated. Signature Title Date Chairman, Chief Executive Officer, and President of First Western Financial, Inc. ______________, 2025 Scott C. Wylie (Principal Executive Officer) Chief Financial Officer and Treasurer ______________, 2025 David R. Weber (Principal Financial and Accounting Officer) Director, Chief Operating Officer, and President of First Western Trust Bank ______________, 2025 Julie A. Courkamp Director ______________, 2025 Julie A. Caponi Director ______________, 2025 David R. Duncan Director ______________, 2025 Thomas A. Gart Director ______________, 2025 Patrick H. Hamill Director ______________, 2025 Scott C. Mitchell Director ______________, 2025 Luke A. Latimer Director ______________, 2025 Ellen S. Robinson Director ______________, 2025 Mark L. Smith Director ______________, 2025 Joseph C. Zimlich June 6 June 9 June 10 June 8 June 6 June 6 June 10 June 7 June 16 June 6 June 11 June 6 /s/ Scott C. Wylie /s/ David R. Weber /s/ Julie A. Courkamp /s/ Julie A. Caponi /s/ David R. Duncan /s/ Thomas A. Gart /s/ Patrick H. Hamill /s/ Scott C. Mitchell /s/ Luke A. Latimer /s/ Ellen S. Robinson /s/ Mark L. Smith /s/ Joseph C. Zimlich

------