secwatch.observer — SEC 8-K summary
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Issuer:     Finwise Bancorp (FINW)
CIK:        0001856365
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001856365-23-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856365/000185636523000008/0001856365-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856365/000185636523000008/finw-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001856365-23-000008

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