FinWise Bancorp Q1 Loan Originations Jump 38% to $1.7B with $0.20 EPS
FinWise Bancorp reported first-quarter loan originations of $1.7 billion, an increase of 38% year-over-year, while net interest income rose to $28.1 million. Net income declined to $2.7 million with diluted EPS of $0.20, efficiency ratio widened to 66.3%, and nonperforming loans grew to $49.8 million.
1. Q1 Financial Highlights
FinWise Bancorp originated $1.745 billion in loans during the first quarter, up from $1.264 billion a year earlier. Net interest income climbed to $28.1 million and net interest margin expanded to 12.90%, while net income fell to $2.7 million and diluted EPS reached $0.20.
2. Efficiency and Asset Quality
The bank’s efficiency ratio widened to 66.3% from 64.8% a year ago and 50.5% last quarter due to growth investments and expense management. Nonperforming loan balances increased to $49.8 million, including $26.7 million guaranteed by the SBA, reflecting elevated net charge-offs in legacy portfolios.
3. Capital and Leverage
Tangible book value per share rose to $14.34 from $13.42 a year prior, driven by earnings retention and loan growth. The bank maintained a strong leverage ratio of 16.8%, nearly double the well-capitalized minimum requirement, supporting its disciplined growth strategy.