secwatch.observer — SEC 8-K summary
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Issuer:     Finwise Bancorp (FINW)
CIK:        0001856365
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001856365-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FinWise Q4 net income $4.2M, EPS $0.32; NPLs surge to $27.1M; acquires additional 10% of BFG
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- Q4 2023 net income $4.2M, diluted EPS $0.32 vs $0.37 Q3 and $0.49 a year ago.
- Non-performing loans rose to $27.1M (7.3% of loans) from $10.7M; $15M SBA-guaranteed.
- Net charge-offs $3.4M in Q4 vs $2.2M prior quarter; provision for credit losses $3.3M.
- Acquiring additional 10% nonvoting interest in BFG for 339,176 shares; total ownership to 20%.
- Efficiency ratio worsened to 55.8% from 51.3% prior quarter; ROAE 10.8% vs 12.8%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/0001856365-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/finw-20240126.htm
  HTML page:      https://secwatch.observer/filing/0001856365-24-000003

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