FinWise Bancorp Q1 net income falls 59% YoY to $3.9M; originations halve to $0.9B

Finwise Bancorp

2023-Q1 EPS reported $0.29

Diluted EPS $0.29 vs $0.70 a year ago; net income $3.9M down from $9.4M.
Loan originations $0.9B, down from $1.2B Q4 2022 and $2.5B Q1 2022.
Net interest margin 12.51% vs 14.27% prior quarter; efficiency ratio 52.5% vs 36.7% YoY.
Noninterest income fell to $4.5M from $11.7M a year ago on lower gain-on-sale and strategic fees.
Asset quality stable: NPLs 0.2% of loans; net charge-offs $2.9M. Book value per share $11.26.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Finwise Bancorp reported first quarter of 2023 results: net income $3.9 million, EPS $0.29.

Period: first quarter of 2023
Net income: $3.9 million
EPS: $0.29
Result: reported results

Exact text from the filing

FINWISE BANCORP REPORTS FIRST QUARTER 2023 RESULTS - Net Income of $3.9 million for First Quarter of 2023- - Diluted Earnings Per Share of $0.29 for First Quarter of 2023-

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Source: SEC EDGAR

accession 0001856365-23-000008

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