secwatch.observer — SEC 8-K summary
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Issuer:     Finwise Bancorp (FINW)
CIK:        0001856365
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001856365-24-000057
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FinWise Q3 net income $3.5M ($0.25 EPS) down from $4.8M; originations $1.4B, NPLs surge to $30.6M
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- Net income $3.5M ($0.25 diluted EPS), down from $4.8M ($0.37) in Q3 2023; net interest income rose to $14.8M.
- Loan originations increased to $1.4B, up from $1.1B YoY and $1.2B in prior quarter.
- Nonperforming loans $30.6M (7.1% of HFI loans) vs $10.7M (3.2%) a year ago; SBA-guaranteed portion $17.8M.
- Efficiency ratio 67.5% vs 50.4% YoY; annualized ROE fell to 8.3% from 12.8%.
- Provision for credit losses $2.2M vs $3.1M YoY; net charge-offs $2.4M, slightly up from $2.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856365/000185636524000057/0001856365-24-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856365/000185636524000057/finw-20241024.htm
  HTML page:      https://secwatch.observer/filing/0001856365-24-000057

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