FinWise Q4 net income $6.5M ($0.49 EPS), down 35% YoY; loan originations fall to $1.2B

Finwise Bancorp

2022-FY EPS reported $1.87

Net income $6.5M ($0.49 diluted EPS) vs $10.1M ($0.90) in Q4 2021, a 35% decline.
Loan originations $1.2B, down from $2.3B YoY and $1.5B in Q3 2022.
Net interest margin narrowed to 14.27% from 16.62% YoY; cost of deposits rose to 1.98%.
Allowance for loan losses to total loans at 4.6%; net charge-offs $3.2M vs $2.3M YoY.
Nonperforming loans minimal at 0.1% of total loans; tangible book value $10.95/share.

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