FinWise Bancorp reports Q3 EPS 34c, consensus 30c

Reports Q3 tangible book value per share $13.84. “Our strong third quarter results reflect the positive impact of the strategic investments we made over the past two years,” said Kent Landvatter, chairman and CEO of FinWise Bancorp (FINW). “We reported net income of $4.9 million, a 19% increase from the prior quarter and a 42% increase year-over-year. This performance was driven by robust loan originations, a significant increase in credit-enhanced balances, solid revenue growth and disciplined expense management. Total end-of-period assets also reached nearly $900 million for the first time in our Company’s history. Following the end of the quarter, we announced two strategic program agreements, with DreamFi Inc. and Tallied Technologies, and we remain actively engaged in discussions with several potential strategic partners to further expand our strategic initiatives. Overall, we remain confident that our focus on disciplined growth and operational excellence will continue to drive long-term progress and sustainable value creation for our shareholders.”