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Character members can count on

“Adversity does not build character, it reveals it.” If this is true—and we believe it is—then 2020 was a year of personal and corporate character coming into plain sight. Our “why”—to simplify lives and help our members and communities thrive—and our co-operative values compel us to stand with and support one another in good times and in difficult times. That is why, when British Columbians began to feel the impact of the COVID-19 pandemic, First West showed up. We were there for our members, employees and community partners.
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Shawn Neumann, Board Chair | Launi Skinner, CEO

Performance dashboard

Key financial strength metrics—for detailed analysis of our financial results, download Management's Discussion & Analysis.


$1.2 billion or 10.5% increase in 2020, compared with 7.3% in 2019.


$3.3 million or 0.04% increase in 2020, compared with 6.5% in 2019.


$885.4 million or 9.2% increase, compared with 7.0% in 2019.

Wealth Assets Under Management

$282.6 million or 9.4% increase, compared with 12.3% in 2019.

Loans by Lending Sector (%)

Stable portfolio product mix, with commercial lending increasing to 38%, from 36% in 2020, and personal loans at 8% compared with 10% in 2019.

Total Funding Composition (%)

Strong funding and liquidity profiles, with deposits totaling $10.5 billion, an increase of 9.2% in 2020 from $9.7 billion in 2019.

Profit ($M)

Profit for the year after tax at $61.6 million was $26.6 million or 30.1% lower in 2020, compared with $88.2 million in 2019. Profit from continuing operations at $48.8 million was $6.1 million, or 14.2% higher in 2020 compared with $42.7 million in 2019.

Revenue Mix ($M)

Continued strong diversification of interest, fee, commission and other income in 2020.

Total Assets and Wealth Assets Under Management ($B)

Including wealth assets under management, First West's total assets grew to approximately $15.5 billion, an increase of 10.2% from $14.1 billion in 2019.

Credit Rating | Long-Term

Investment Grade Credit Rating (DBRS Morningstar). Long-term issuer rating.

Credit Rating | Short-Term

Investment Grade Credit Rating (DBRS Morningstar). Short-term issuer rating / short-term instruments.

Strong Regulatory Capital Ratio*

Capital buffer $461 million relative to minimum regulatory requirement of 8.0%. *As defined by BCFSA.
First West’s strong financial performance through a year like no other is a testament to our organizational resilience. Our size and stability ensured we were ready and could be there for our members and communities when they needed us most.
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Tom Webster, Chief Financial Officer