10:24 AM EDT, 06/17/2024 (MT Newswires) -- First Western Financial ( MYFW ) said Monday its board authorized a stock buyback program under which the company may repurchase up to 200,000 shares, or 2% of its outstanding shares.

The board of governors of the Federal Reserve System has no objection to the buyback plan, the company said.

Stock repurchases may be made from time to time and the plan will be in effect for a one-year period, First Western said.

The company's shares were rising nearly 6% in recent trading.

Price: 17.83, Change: +1.00, Percent Change: +5.94