earnings
confidence high
sentiment negative
materiality 0.75
FinWise Q3 net income $3.7M, diluted EPS $0.27; loan originations fall to $1.5B
Finwise Bancorp
2022-Q3 EPS reported
$1.37
- Net income $3.7M vs $5.5M in Q2 2022 and $8.4M in Q3 2021; diluted EPS $0.27 vs $0.41 and $0.91.
- Loan originations $1.5B, down from $2.1B in Q2 2022 and $1.8B in Q3 2021.
- Net interest income $12.5M; provision for loan losses $4.5M, up from $2.9M in Q2.
- Effective tax rate 48.7% due to correction of prior-period tax error; nonperforming loans zero.
- Share repurchase: 20,000 shares bought back for $0.2M under authorized program.