MYFWMEDIUM SIGNALFINANCIAL10-K

MYFW reported meaningfully higher profitability and roughly doubled its cash position while expanding its loan portfolio and assets under management.

The substantial improvement in earnings alongside strong cash generation suggests improved operational efficiency and capital allocation. The expansion in loan portfolio composition, particularly the growth in secured loans and extended average terms on residential mortgages, indicates strategic positioning for interest rate environment changes.

Comparing 2026-02-27 vs 2025-03-07View on EDGAR →
FINANCIAL ANALYSIS

MYFW demonstrated strong financial performance with net income growing substantially from $8.5M to $13.2M, while cash and equivalents roughly doubled to $156.0M, indicating robust cash generation. The company expanded its total assets to $3.15B while growing its loan portfolio to $2.65B, with notable increases in secured lending and consumer loans, suggesting successful business expansion and improved liquidity positioning.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+98.4%
$78.6M→$156.0M

Cash position surged 98.4% — strong cash generation or capital raise providing significant financial cushion.

Net Income
P&L
+55.6%
$8.5M→$13.2M

Net income grew 55.6% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-03-07
ADDED
As of December 31, 2025, we provided fiduciary and advisory services on $7.28 billion of trust and investment management assets (AUM), and we had total assets of $3.15 billion, total loans excluding mortgage loans held for sale of $2.65 billion, total deposits of $2.75 billion, and total shareholders equity of $265.6 million.
For the year ended December 31, 2025, Total non-interest income was $26.6 million or 27.4% of Total income before non-interest expense and Net interest income, before Provision for credit losses, was $75.4 million, or 77.8% of Total income before Non-interest expense.
As of December 31, 2025, 1-4 family residential loans were $1.03 billion , or 39.1% of our total loan portfolio, consisting of $123.6 million and $910.1 million of fixed-rate and adjustable-rate loans, respectively.
While we typically originate loans with adjustable rates and maturities up to 30 years, as of December 31, 2025, the average term on our 1-4 family portfolio was 23.6 years with an average remaining term of 20.3 years.
As of December 31, 2025, loans secured with cash, marketable securities and other were $164.7 million, or 6.3% of our total loan portfolio.
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REMOVED
As of December 31, 2024, we provided fiduciary and advisory services on $7.32 billion of trust and investment management assets ("AUM"), and we had total assets of $2.92 billion, total loans excluding mortgage loans held for sale and loans held for sale of $2.43 billion, total deposits of $2.51 billion, and total shareholders equity of $252.3 million.
For the year ended December 31, 2024, non-interest income was $27.7 million or 30.7% of total income before non-interest expense and net interest income, before the provision for credit losses, was $64.3 million, or 71.4% of total income before non-interest expense.
As of December 31, 2024, 1-4 family residential loans were $962.9 million, or 39.8% of our total loan portfolio, consisting of $133.6 million and $829.3 million of fixed-rate and adjustable-rate loans, respectively.
While we typically originate loans with adjustable rates and maturities up to 30 years, as of December 31, 2024, the average term on our 1-4 family portfolio was 20.8 years with an average remaining term of 18.3 years.
As of December 31, 2024, loans secured with cash, marketable securities and other were $119.8 million, or 5.0% of our total loan portfolio.
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