FinWise Bancorp Q2 2023 net income $4.6M, TBV $11.59, assets $495.6M

Finwise Bancorp

2023-Q2 EPS reported $0.64

Net income for Q2 2023 of $4.6M, down from $5.5M in Q2 2022; ROAE (annualized) 12.0%.
Tangible book value per share grew to $11.59 as of June 30, 2023, from $10.13 one year ago.
Total assets reached $495.6M and total deposits $495.6M as of June 30, 2023, both up ~35% YoY.
Allowance for credit losses to total loans (HFI) at 4.2%; net charge-offs of $2.4M in Q2 2023.
Strategic Programs contributed 59.4% of Q2'23 gross revenue; SBA 7(a) 24.9%.

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