FinWise Bancorp reports Q2 EPS 24c, consensus 18c

Reports Q2 revenue $19.45M, consensus $19.45M. Reports Q2 tangible book value per share $12.61. “FinWise delivered another strong quarter, driven by continued growth in loan originations, solid revenue and stable credit quality,” said Kent Landvatter, Chief Executive Officer of FinWise. “These results highlight the strength and resiliency of our existing business, as they do not include any benefit from recently announced strategic partnerships and expansion strategies. Our team has also delivered, ahead of schedule, on multiple initiatives, including the launch of our first Payments partner, the start of our Credit-Enhanced Balance Sheet program and the launch of our first card product. Additionally, we remain on schedule to be operational with our Payment Hub platform later this year. Looking ahead, we remain excited about future growth opportunities and are steadfastly committed to executing on our strategic goals to further enhance value for our shareholders.”