FinWise Q2 net income falls to $2.1M, EPS $0.15; provision expense rises

Finwise Bancorp

Net income $2.1M, diluted EPS $0.15 vs $0.29 YoY and $0.20 QoQ.
Loan originations $1.6B; net interest income $28.7M (up from $14.7M YoY).
Nonperforming loans reduced to $37.7M from $49.8M QoQ; SBA-guaranteed NPLs $19.0M.
Provision for credit losses $22.7M (core + credit enhanced) vs $10.6M QoQ and $4.7M YoY.
Tangible book value per share $14.55; signed new prepaid card program and acquired Tallied Technologies.

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