First Western Financial, a Denver, CO-based bank and wealth manager for high net worth individuals, raised $38 million in a slightly upsized offering of nearly 2.0 million shares at $19, the low end of the $19 to $21 range. It had planned to offer 1.85 million shares. Existing shareholders sold 0.35 million shares, as expected (18% of the offering). At pricing, the bank commands a fully diluted market value of $148 million. First Western Financial plans to list on the Nasdaq under the symbol MYFW. Keefe Bruyette Woods and Stephens Inc. acted as lead managers on the deal.
