Quarterly ResultJul 29, 2026, 04:23 PM
FinWise Bancorp Q2 Net Income $2.1M, EPS $0.15; Acquires Tallied Tech
AI Summary
FinWise Bancorp reported mixed financial results for the second quarter of 2026, with net income decreasing to $2.1 million and diluted EPS falling to $0.15, primarily due to higher provision expense on loans. Despite the decline in profitability, the company saw an increase in net interest income to $28.7 million and an improved efficiency ratio of 53.1%. Additionally, FinWise Bancorp announced the acquisition of Tallied Technologies, Inc.'s platform and repurchased $0.4 million in shares.
Key Highlights
- Net income decreased to $2.1 million in Q2 2026 from $2.7 million in Q1 2026 and $4.1 million in Q2 2025.
- Diluted EPS was $0.15, down from $0.20 in Q1 2026 and $0.29 in Q2 2025.
- Loan originations totaled $1.6 billion, down from $1.7 billion in Q1 2026 but up from $1.5 billion in Q2 2025.
- Net interest income increased to $28.7 million from $28.1 million in Q1 2026 and $14.7 million in Q2 2025.
- Efficiency ratio improved to 53.1% from 66.3% in Q1 2026.
- Nonperforming loans decreased to $37.7 million from $49.8 million in Q1 2026.
- Acquired the technology platform and related assets of Tallied Technologies, Inc. on July 20, 2026.
- Repurchased 29,736 shares for $0.4 million under the share repurchase program.
Price Impact
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