DENVER BUSINESS JOURNAL - In the last year, Denver-based First Western Financial Inc. has grown its loans and deposits substantially. And that means it needs to bulk up its bottom line, said its chairman and CEO, Scott Wylie.
From June 2015 to June 2016, the bank -- also known as First Western Trust -- grew its loans by 23 percent and its deposits by 43 percent. It opened an office in Jackson Hole, Wyoming, and one in Aspen.
When you are growing, regulators want to see a certain amount of capital, Wylie said. “We are doing our first significant capital raise in several years."
The bank, which provides wealth management and private banking services, has gone out to investors to raise $10 million in common offering and $15 million in debt. So far the bank has raised $11.5 million in common offering and $7 million in debt.
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