Quarterly ResultMay 12, 2026, 04:48 PM
Finwise Bancorp Q1 Net Income Down 14.2% to $2.7M; EPS $0.20
AI Summary
Finwise Bancorp reported a decrease in net income for the first quarter of 2026, falling 14.2% to $2.7 million, with diluted earnings per share at $0.20. Despite this, the company saw significant growth in net interest income, which nearly doubled to $28.1 million, and total non-interest income, which increased by 87.3% to $14.6 million. However, these gains were offset by a substantial 217.2% rise in the provision for credit losses to $10.6 million and a 97.9% increase in total non-interest expenses to $28.3 million.
Key Highlights
- Net income decreased 14.2% to $2.7 million for Q1 2026.
- Diluted EPS was $0.20 in Q1 2026, down from $0.23 in Q1 2025.
- Net interest income grew 96.7% to $28.1 million in Q1 2026.
- Provision for credit losses surged 217.2% to $10.6 million.
- Total non-interest income increased 87.3% to $14.6 million.
- Total non-interest expense rose 97.9% to $28.3 million.
- Total assets were $899.4 million as of March 31, 2026.
- Total deposits were $674.9 million as of March 31, 2026.
Price Impact
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