FinWise Bancorp reports Q2 EPS 29c, consensus 23c

Reports Q2 adjusted revenue $25.07M, consensus $22.08M. Reports Q2 tangible book value per share $13.51. “FinWise delivered solid operating and financial momentum coming into the second quarter, as the components of our growth strategy began to successfully come together and the team executed well,” said Kent Landvatter, chairman and CEO of FinWise Bancorp (FINW). “We posted strong loan originations of $1.5 billion, maintained solid revenue and remained disciplined on expense management, all of which contributed to growing profitability. Tangible book value per share also continued to increase, ending the quarter at $13.512. We are also encouraged by the early traction of our new products and remain highly confident that the infrastructure investments of the past two years will support strong, long-term growth and shareholder value.”