DENVER, June 08, 2020 (GLOBE NEWSWIRE) — First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western”), announced today that it is set to join the broad-market Russell 3000® Index and the small-cap Russell 2000® Index at the conclusion of the Russell US Indexes annual reconstitution, effective after the US equity markets open on June 29, 2020, according to a preliminary list of additions posted by FTSE Russell on June 5, 2020.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, 2020 ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.“We are very pleased to be added to the Russell indexes, which is the result of the significant increase we have seen in our market capitalization as we have continued to increase our earnings power and enhance the value of our franchise,” said Scott C. Wylie, CEO of First Western. “The Russell indexes are widely followed within the investment community, and we believe our inclusion will positively impact the liquidity in our stock and lead to more awareness for our Company as an attractive investment.”Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.About First Western Financial, Inc.
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