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Q2 2026 · read from the 30 June 2026 Call Report · United States · Mountain West · Colorado, the state note

First Southwest Bank

Durango, Colorado · $657M in assets · beside the 11 other Colorado banks between $300M and $1B

The filing

0.60%
ROA
12th of 12
79.9%
Efficiency
12th of 12
30.4x
Coverage of noncurrent
1st of 10

First Southwest Bank is the sixth largest of the 12 Colorado banks nearest its size between $300M and $1B, with $657M in assets at 30 June 2026. Loans are 69.5% of deposits, 2nd of 12 against a median of 86.3%, and equity is 13.3% of assets, 2nd of 12. Loans grew +8.7% in the year, 5th of 12, and deposits grew 7.0%; the cohort's median loan growth is +5.3%.

Noncurrent loans are 0.04% of the book, 4th of 12 against a median of 0.13%; 0.04% is 30 to 89 days past due, and the allowance covers them 30.4 times. Commercial real estate is 36.8% of loans, 9th of 12 against a median of 24.7%, and 121% of capital, below the 300% screen, with construction at 35% against the 100% screen. CRE has grown +68.1% over 36 months, past the guidance's 50% prong.

Return on assets is 0.60%, the lowest in the cohort against a median of 1.69%, on an efficiency ratio of 79.9%, the highest in the cohort. Five years ago it was 0.74%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

Return on assetsCO banks $300M to $1B · 30 June 2026 · higher is stronger, listed first
median 1.69% AN Amg National Trust Bank 2.42% YV Yampa Valley Bank 2.26% PT PB & Trust Bank 2.25% TB Timberline Bank 2.14% FN First National Bank Colorado 2.10% HP High Plains Bank 1.88% SB Stockmens Bank 1.49% EC Eastern Colorado Bank 1.13% HC High Country Bank 1.09% MV Mountain Valley Bank 0.91% IB Integrity Bank & Trust 0.91% FS First Southwest Bank 0.60%
Loans, year over yearCO banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +5.3% HP High Plains Bank +27.3% SB Stockmens Bank +23.0% PT PB & Trust Bank +18.9% FN First National Bank Colorado +14.7% FS First Southwest Bank +8.7% TB Timberline Bank +6.4% YV Yampa Valley Bank +4.3% HC High Country Bank +3.5% MV Mountain Valley Bank +1.6% IB Integrity Bank & Trust +1.4% AN Amg National Trust Bank -0.7% EC Eastern Colorado Bank -5.9%

SBA 7(a), FY2008 to FY2026

First Southwest Bank is the 33rd largest 7(a) lender into Colorado of 401, with $77M across 224 loans, 0.6% of everything approved in the state (Wells Fargo Bank National Association leads with $1.20B). 13 of its 30 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Colorado, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
La Plata, CO$22M1st of 4819.5%-18.6 pts
Archuleta, CO$16M1st of 2242.0%-55.0 pts
Alamosa, CO$10M1st of 1352.1%-35.1 pts
Montezuma, CO$9M1st of 2429.0%-65.1 pts
Rio Grande, CO$7M1st of 1338.3%thin
Prowers, CO$5M1st of 1619.7%thin
San Juan, NM$2M19th of 481.7%-1.1 pts
Conejos, CO$2M1st of 398.4%+0.0 pts
Saguache, CO$1M1st of 450.1%quiet FY2021
Bent, CO$990K1st of 532.4%thin
Montrose, CO$985K19th of 391.2%quiet FY2021
Otero, NM$905K11th of 222.9%quiet FY2022
San Juan, CO$600K2nd of 524.2%quiet FY2011
17 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services30$12M15.3%0.02%507th of 2,596
Retail trade22$8M9.9%0.01%548th of 2,589
Real estate & leasing14$8M9.5%0.06%235th of 1,452
Construction20$7M9.1%0.02%438th of 2,063
Manufacturing27$7M9.0%0.02%558th of 2,246
7(a) lenders into Colorado, share of approvals since FY2008401 lenders on record; the ten largest and First Southwest Bank
WF Wells Fargo Bank National Associa… 9.6% $1.20B · 3,930 loans LO Live Oak Banking Company 7.6% $950M · 765 loans UB U.S. Bank, National Association 4.2% $527M · 3,267 loans HB Hanmi Bank 4.1% $513M · 612 loans SB Southstate Bank, National Associa… 3.3% $415M · 564 loans BB BMO Bank National Association 3.2% $398M · 568 loans Bo Bank of Hope 3.1% $393M · 559 loans KN KeyBank National Association 3.1% $384M · 1,029 loans JC JPMorgan Chase Bank, National Ass… 2.9% $364M · 1,874 loans TH The Huntington National Bank 2.9% $363M · 1,157 loans FS First Southwest Bank 0.6% $77M · 224 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 5 CBLR filers; owner-occupied excluded; bold marks a screen met
First Southwest BankRankCohort median
Total CRE against capital, the 300% screen121%3rd of 12178%
Construction against capital, the 100% screen35%2nd of 1254%
Construction and land development, share of loans10.5%8th of 129.3%
Non-owner-occupied nonfarm nonresidential, share of loans23.6%9th of 1213.2%
Total CRE, the guidance definition, share of loans36.8%9th of 1224.7%
CRE growth over 36 months, the third prong+68.1%12th of 12+30.5%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Timberline Bank$833M2.1%49.4%0.06%0.01%1.2%92.9%8.2%
PB & Trust Bank$815M2.3%59.7%0.54%0.00%1.3%85.1%10.7%
Amg National Trust Bank$723M2.4%63.5%0.04%0.00%1.0%46.5%17.1%
Eastern Colorado Bank$721M1.1%67.6%0.00%0.00%1.4%75.4%11.3%
Yampa Valley Bank$688M2.3%49.3%0.09%0.01%1.4%87.5%8.5%
First Southwest Bank$657M0.6%79.9%0.04%0.05%1.3%69.5%13.3%
Stockmens Bank$651M1.5%54.0%0.18%0.00%1.6%98.1%10.6%
High Plains Bank$643M1.9%69.6%0.70%0.03%1.1%81.6%10.1%
First National Bank Colorado$634M2.1%46.7%0.00%0.01%1.7%78.6%10.9%
Mountain Valley Bank$557M0.9%68.2%0.19%0.08%1.1%92.1%10.6%
High Country Bank$528M1.1%71.3%1.34%0.00%1.2%99.0%9.3%
Integrity Bank & Trust$460M0.9%64.8%0.54%0.18%1.2%93.7%8.8%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
First Southwest BankCohort median
20212026Change20212026Change
Loans$239M$342M+43%$287M$450M+57%
Deposits$372M$492M+32%$403M$567M+41%
NPA / loans0.09%0.04%-0.04 pts0.06%0.13%+0.07 pts
Efficiency73.7%79.9%+6.2 pts57.9%64.1%+6.2 pts
ROA0.74%0.60%-0.14 pts1.64%1.69%+0.05 pts

This read was prepared for First Southwest Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on First Southwest Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort CO banks $300M to $1B
Institution www.fswb.bank

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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