First Western Federal Savings Bank
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Data as of · sourced from FFIEC call reports. How we update
First Western Federal Savings Bank is an FDIC-insured savings institution headquartered in Rapid City, SD, established in 1979 (FDIC certificate 31972), and it is supervised by the OCC. At Q2 2026 it reported total assets of $63.5M, up 5.2% from Q2 2025, the 49th largest of 56 banks headquartered in South Dakota. It reports no CET1 ratio; its Tier 1 leverage ratio was 18.08% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Savings institution
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 31972
- Headquarters
- Rapid City, SD
- Established
- 1979
- Total assets, Q2 2026
- $63.5M
- Assets vs Q2 2025
- +5.2%
- Tier 1 leverage ratio, Q2 2026
- 18.08%
- Domestic offices
- 1 FDIC institution directory, current count
- Routing number
- 291471419
- Latest call report
- Q2 2026, FFIEC 051 · First Western Federal Savings Bank call report
- Asset rank in state
- 49th of 56 in South Dakota
First Western Federal Savings Bank earns an unusually wide margin on its lending. The Rapid City, South Dakota bank had $64 million in assets at June 30, 2026, up 5.2% from a year earlier. It keeps 5.23 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 of the 583 banks with less than $100 million in assets (median 3.87 cents). On the other hand, it pays an average of 3.76% on its deposits and borrowings, 2.5 times the median of 1.53% for banks its size.
Net income for the quarter rose 30% from a year earlier, to $397,000.
As of June 30, 2026, First Western Federal Savings Bank reported a return on assets of 2.56%, a nonperforming-loan ratio of 0.00% and a Texas ratio of 0.00%. The figures come from its call report filed with the FFIEC.
Of the 56 banks headquartered in South Dakota, First Western Federal Savings Bank is the 49th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets fell 3.0% to $63.5M, loans rose 2.8% and deposits fell 7.9%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 92.6% of total loans, followed by non-owner-occupied commercial real estate loans at 3.6%. Its one office in the FDIC Summary of Deposits is in Rapid City, SD. Judged on its Q2 2026 call report, First Western Federal Savings Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 402 Main St, Rapid City, SD 57701
- County
- Pennington
- Metro Area
- Rapid City, SD
- Charter
- Federal savings bank, federal charter, OCC-supervised (pre-2011 OTS)
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- —
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- June 6, 1979
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 8
- Domestic deposits
- $40.6M
- Allowance for credit losses
- $389K
- Net charge-offs (YTD)
- $0
- Average total assets
- $62.1M
- Average total loans
- $57.7M
- Average interest-bearing deposits
- $39.4M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- August 9, 1989
- FDIC Cert
- 31972
- Fed RSSD
- 715470
- Website
- www.fwfsb.com →
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, First Western Federal Savings Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, First Western Federal Savings Bank's total assets ranged from $60.4M (Q2 2025) to $66.7M (Q4 2025), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$63.5M total assets against $60.4M; $52.3M total liabilities against $49.7M.
$58.2M net loans and leases against $55.5M; $40.6M total deposits against $37.8M.
$0 securities against $1K; $4.2M cash and balances due against $3.7M.
$1.2M total interest income against $1.2M; $397K total interest expense against $450K.
$809K net interest income against $727K.
$0 total noninterest income against $0; $412K total noninterest expense against $421K.
No provision recorded in the last 12 quarters.
$397K net income against $306K.
2.56% return on assets against 2.05%; 5.23% net interest margin against 4.89%.
18.08% tier 1 leverage ratio against 17.97%.
Inside the full First Western Federal Savings Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
First Western Federal Savings Bank rankings
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.55% (Q3 2025) to 2.56% (Q2 2026) and its net interest margin ran from 4.09% (Q4 2024) to 5.23% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 18.08% | 2.56% | 0.00% | 0.00% | 5.23% |
| Q1 2026 | 16.51% | 2.14% | 0.00% | 0.00% | 4.77% |
| Q4 2025 | 16.56% | 2.16% | 0.00% | 0.00% | 4.54% |
| Q3 2025 | 17.82% | 1.55% | 0.00% | 0.00% | 4.84% |
| Q2 2025 | 17.97% | 2.05% | 0.16% | 0.79% | 4.89% |
| Q1 2025 | 16.89% | 1.63% | 0.01% | 0.07% | 4.51% |
| Q4 2024 | 16.13% | 1.60% | 0.47% | 2.44% | 4.09% |
| Q3 2024 | 16.80% | 1.55% | 0.07% | 0.39% | 4.23% |
Swipe the table sideways to see every column.
Branch Network
View the branch → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First Western Federal Savings Bank (main office) | Rapid City , SD | 57701 | $40.6M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in SD, rank 69 of 82 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $8K approved, $8K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1997 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First Western Federal Savings Bank
What are First Western Federal Savings Bank's total assets?
As of the Q2 2026 filing, First Western Federal Savings Bank reported total assets of $63.5 million in its FFIEC call report.
Where is First Western Federal Savings Bank headquartered?
It is headquartered in Rapid City, SD, United States.
When was First Western Federal Savings Bank founded?
It was established in 1979, per the FDIC institution directory.
Is First Western Federal Savings Bank FDIC-insured?
Yes. It is an FDIC-insured savings institution (FDIC Certificate #31972). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Western Federal Savings Bank?
First Western Federal Savings Bank's primary federal regulator is the OCC.
How many branches does First Western Federal Savings Bank operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Western Federal Savings Bank's Texas Ratio?
Its Texas Ratio is 0.00% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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