FinWise Bancorp outlines fintech expansion with Payments Hub and BIN Sponsorship

Finwise Bancorp

Tangible book value per share reached $12.70 as of Q1 2024, up from $11.26 a year ago.
Efficiency ratio improved to 52.5% in Q1 2024 from 60.6% in Q1 2023.
Strategic Program loans on balance sheet $72.2M; SBA loans $247.8M as of 3/31/24.
Company plans to launch Payments Hub and BIN Sponsorship to diversify revenue and drive growth.
Total non-interest expense declined to $8.7M in Q1 2024 from $11.8M in Q1 2023.

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