FINW - FinWise Bancorp GAAP EPS of $0.41 misses by $0.16 revenue of $21.20M misses by $1.49M

• FinWise Bancorp press release ( NASDAQ: FINW ): Q2 GAAP EPS of $0.41 misses by $0.16 .
• Revenue of $21.20M (+11.8% Y/Y) misses by $1.49M .
• Loan originations were $2.1 billion, compared to $2.5 billion for the quarter ended March 31, 2022 and $1.4 billion in the prior year period
• Net interest income was $12.8 million, compared to $13.0 million for the quarter ended March 31, 2022 and $10.8 million in the prior year period
• Net Income was $5.5 million, compared to $9.4 million for the quarter ended March 31, 2022 and $7.7 million in the prior year period.
• Efficiency ratio was 52.0%, compared to 36.7% for the quarter ended March 31, 2022 and 37.3% for the prior year period
• Maintained industry-leading returns with annualized return on average equity (ROAE) of 17.2%, compared to 31.4% in the quarter ended March 31, 2022 and 55.0% in the prior year period
• Asset quality remained strong with a nonperforming loans to total loans ratio of 0.3%.

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