FinWise Bancorp Q2 net income $3.2M, EPS $0.24; NPLs rise to $27.9M

Finwise Bancorp

2024-Q2 EPS reported $0.49

Net income of $3.2M vs $4.6M YoY; diluted EPS $0.24 down from $0.35.
Net interest income $14.6M, up from $13.7M YoY; loan originations $1.2B.
Nonperforming loans $27.9M (6.5% of loans), vs $1.9M YoY; charge-offs $1.9M.
Efficiency ratio 66.3% vs 52.7% YoY; ROAE 7.9% vs 12.8% YoY.
Repurchased 44,608 shares for $0.5M; new initiatives include Payments partner and Payment Hub.

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