Exhibit 99.1

                              FWB [LOGO]
                              FIRST WESTERN BANK

           APPOINTMENT OF PROXY SOLICITED BY THE BOARD OF DIRECTORS

         To insure that a quorum is present at the First Western Special
Meeting, please send in your appointment of proxy whether or not you plan to
attend. As explained below, you will still be able to vote in person at the
First Western Special Meeting if you desire to do so.

         The undersigned hereby appoints Charles L. Ownbey and Martin J.
Shuford, or either of them, as attorneys and proxies (the "Proxies"), with full
power of substitution, to vote all shares of the common stock of First Western
Bank ("First Western") held of record by the undersigned on __________, 2001, at
the Special Meeting of Shareholders of First Western (the "Special Meeting") to
be held at The Pinebridge Inn located at 101 Pinebridge Avenue in Spruce Pine,
North Carolina, at 2:00 p.m. on _______________, December _____, 2001, and at
any adjournments of the meeting. The undersigned hereby directs that the shares
represented by this appointment of proxy be voted as follows on the proposals
listed below:

1.       Proposal to Approve the Merger Agreement and Merger. To consider and
         vote on a proposal to approve the Agreement and Plan of Reorganization
         and Merger, dated as of September 17, 2001 (the "Merger Agreement"),
         between First Western Bank ("First Western"), MountainBank Financial
         Corporation ("MFC") and MountainBank (a copy of which is attached as
         Appendix A to the Proxy Statement/Prospectus which accompanies this
         Notice), and to approve the transactions described in the Merger
         Agreement, including, without limitation, the merger of First Western
         into MountainBank (the "Merger"), with the result that each outstanding
         share of First Western's common stock held by each First Western
         shareholder will be converted into the right to receive 0.50 shares of
         MFC's common stock, all as more fully described in the Proxy
         Statement/Prospectus; and

            [_]   FOR             [_]   AGAINST           [_]   ABSTAIN

     The Board of Directors recommends that shareholders vote "FOR" approval
                       of the Merger Agreement and Merger.

2.       Other Business. On such other matters as properly may come before the
         First Western Special Meeting, the persons named herein as Proxies are
         authorized to vote the shares represented by this appointment of proxy
         in accordance with their best judgment.

         The shares represented by this appointment of proxy will be voted as
directed above. In the absence of any direction, the Proxies will vote the
shares represented by this appointment of proxy "FOR" approval of the Merger
Agreement and Merger. Should other matters properly come before the First
Western Special Meeting, the Proxies will be authorized to vote the shares
represented by this appointment of proxy in accordance with their best judgment.
This appointment of proxy may be revoked by the holder of the shares to which it
relates at any time before it is exercised by filing with First Western's
Secretary a written instrument revoking it or a duly executed appointment of
proxy bearing a later date, or by attending the First Western Special Meeting
and announcing his or her intention to vote in person.

         Please sign and date this appointment of proxy below and return it to
First Western in the enclosed envelope.

                              Dated: _____________________________________, 2001


                              __________________________________________________
                              Signature of Owner of Shares


                              __________________________________________________
                              Signature of Joint Owner of Shares (if any)

Instruction: Please sign above exactly as your name appears on this appointment
                               -------
of proxy. Joint owners of shares should both sign. Fiduciaries or other persons
                                        ----
signing in a representative capacity should indicate the capacity in which they
are signing.