Quarterly ResultAug 12, 2026, 04:48 PM
Finwise Bancorp Q2 Net Income $2.13M, EPS $0.15; Credit Losses Up
AI Summary
Finwise Bancorp reported a significant decrease in net income and diluted EPS for the second quarter of 2026, primarily driven by a substantial increase in the provision for credit losses. Despite higher total interest income, increased non-interest expenses also impacted profitability. The company also announced a stock repurchase program and completed the acquisition of Tallied Technologies, Inc. as a subsequent event.
Key Highlights
- Q2 Net Income decreased to $2.13 million from $4.10 million year-over-year.
- Q2 Diluted EPS fell to $0.15 from $0.29 compared to the prior year.
- Provision for credit losses surged to $22.68 million in Q2 from $4.73 million year-over-year.
- Total interest income increased to $33.98 million in Q2 from $19.74 million year-over-year.
- Total assets decreased to $925.31 million from $977.14 million since December 31, 2025.
- Total deposits decreased to $693.80 million from $754.56 million since December 31, 2025.
- Authorized a common stock repurchase program for up to 685,000 shares.
- Acquired Tallied Technologies, Inc. on July 20, 2026, a Strategic Program provider.
Price Impact
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