Finwise Bancorp Stock Price, News & Analysis

FinWise Bancorp (NASDAQ: FINW) has announced the appointment of Jim Noone as Chief Executive Officer of FinWise Bank, while maintaining his current position as Bank President. Kent Landvatter will continue as Chairman of the Board and CEO of FinWise Bancorp, as well as Executive Chairman of FinWise Bank.

Noone's promotion follows seven years of leadership at FinWise, including during the company's IPO. His career at the bank began in February 2018, progressing from Executive Vice President and Chief Credit Officer to Bank President in March 2023. He brings over 20 years of financial services experience spanning commercial banking, investment banking, and private equity.

During his tenure, Noone has been key in shaping strategic initiatives, developing infrastructure, and creating innovative banking products. He will continue working with Landvatter on the Bank's long-term strategy and market positioning to enhance shareholder value.

FinWise Bancorp (NASDAQ: FINW) reported its Q4 and full-year 2024 results. Key highlights include:

For Q4 2024:
- Loan originations: $1.3 billion
- Net interest income: $15.5 million
- Net income: $2.8 million
- Diluted EPS: $0.20
- Efficiency ratio: 64.2%

For Full Year 2024:
- Total loan originations: $5.0 billion
- Net income: $12.7 million
- Diluted EPS: $0.93

Notable metrics:
- Nonperforming loans increased to $36.4 million as of December 31, 2024
- Total assets grew to $746.0 million
- Leverage ratio remained strong at 20.6%
- Total deposits increased to $544.9 million

FinWise Bancorp (NASDAQ: FINW) has announced its upcoming fourth quarter and full year 2024 financial results conference call and webcast, scheduled for Thursday, January 30, 2025, after market close. The conference call will begin at 5:30 p.m. ET, with dial-in options available at 1-877-423-9813 (toll-free) or 1-201-689-8573 (international), using conference ID 13750402.

Participants are advised to dial in 10 minutes before the scheduled start time. The webcast will be accessible through the company's website, and a replay will remain available in the Investor Relations section for six months following the call. Stakeholders can submit questions via email to investors@finwisebank.com prior to the call's start time at 5:30 p.m. ET on January 30, 2025.

FinWise Bancorp reported Q3 2024 results with net income of $3.5 million, up from $3.2 million in Q2 2024 but down from $4.8 million in Q3 2023. Loan originations increased to $1.4 billion, compared to $1.2 billion in Q2 2024. Net interest income was $14.8 million, slightly up from $14.6 million in Q2 2024. The company's efficiency ratio increased to 67.5% from 66.3% in Q2 2024. Notably, nonperforming loans rose to $30.6 million, with $17.8 million guaranteed by the SBA. The Bank maintains strong capital levels with a leverage ratio of 20.3%, well above regulatory requirements.

FinWise Bancorp (NASDAQ: FINW), parent company of FinWise Bank, has announced its plans to report third quarter 2024 results and host a conference call and webcast on Thursday, October 24, 2024, after market close. The conference call is scheduled for 5:30 PM ET to discuss the financial results. Interested parties can access the webcast on the company's website, with a replay available for six months following the call.

For those preferring to join via phone, the dial-in numbers are 1-877-423-9813 (toll-free) or 1-201-689-8573 (international), with conference ID 13748730. Participants are advised to dial in 10 minutes before the scheduled start time. Additionally, FinWise will accept questions submitted via email to investors@finwisebank.com prior to 5:00 p.m. ET on Wednesday, October 23, 2024, for consideration during the call.

FinWise Bancorp (NASDAQ: FINW) has announced a new strategic lending program with PowerPay, a fintech company specializing in lending and payment solutions for Home Improvement and Elective HealthCare. The partnership aims to offer consumers nationwide fair and affordable monthly payments through a network of quality contractors and medical providers.

PowerPay, founded in 2020, has processed over $8 billion across all 50 states and has 12,000+ onboarded Service Providers. The FinWise loan product will be integrated into PowerPay's data-driven platform, allowing for quick credit processing at the point-of-sale. This collaboration enables FinWise to expand its lending capabilities while providing regulatory expertise to support PowerPay's growth.

FinWise Bancorp (NASDAQ: FINW) reported its Q2 2024 results, with net income of $3.2 million and diluted EPS of $0.24. Key highlights include:

- Loan originations of $1.2 billion, consistent with Q2 2023
- Net interest income of $14.6 million, up from $13.7 million in Q2 2023
- Efficiency ratio of 66.3%, increased from 52.7% in Q2 2023
- Annualized return on average equity (ROAE) of 7.9%, down from 12.8% in Q2 2023

The company saw growth in its loan portfolio and deposits, with total assets reaching $617.8 million. However, nonperforming loans increased to $27.9 million, or 6.5% of total loans receivable. FinWise maintains strong capital levels, with a leverage ratio of 20.8% at the Bank level.

FinWise Bancorp (NASDAQ: FINW), parent company of FinWise Bank, has expanded its Board of Directors by appointing Susan Ehrlich, effective immediately. Ehrlich brings over 25 years of experience in lending, banking, and payments across fintech, financial services, and retail. She currently serves as Partner of Core Innovation Capital and has previously held board positions at Boeing Employees Credit Union and Petal Card. Ehrlich's expertise includes scaling growth, improving profitability through product innovation, and digital business transformation.

Kent Landvatter, CEO of FinWise, expressed enthusiasm about Ehrlich's appointment, highlighting her wealth of experience in fintech lending and payments, as well as her proven ability to build teams and grow enterprise value. Ehrlich stated her excitement to join the board and contribute to FinWise's continued success in the fintech banking and payments industry.

FinWise Bancorp (NASDAQ: FINW) announced it will report its second quarter 2024 results and host a webcast and conference call on July 25, 2024, after market close.

The conference call is scheduled for 5:30 PM ET to discuss the financial results for the quarter ended June 30, 2024.

The webcast will be available on the company's website, and a replay will be accessible for six months following the call.

The dial-in number for the conference call is 1-877-423-9813 (toll-free) or 1-201-689-8573 (international), with the conference ID 13746967.

Questions can be submitted via email to investors@finwisebank.com before 5:00 p.m. ET on July 24, 2024.