FinWise Bancorp reports Q4 EPS 20c, consensus 20c

Reports net interest income was $15.5M for the fourth quarter of 2024, compared to $14.8M for the prior quarter and $14.4M for the prior year period. The increase from the prior quarter was primarily due to an average balance increase in the loans held for investment or HFI, portfolio and a decrease in yields paid on interest-earning deposits, principally certificate of deposits.”Our fourth quarter results capped off a strong 2024 for FinWise, as we made significant progress in our goal to expand and diversify our sources of revenue to enhance the company’s long-term growth,” said Kent Landvatter, CEO of FinWise. “We were also pleased with the rebound in loan originations from existing programs, as well as the number of new strategic programs we announced, including four new Lending programs, two of which include our Credit Enhancement product, one Payments and one Credit Card program. As we look ahead to 2025, we are excited about the outlook, and currently anticipate continued stability in originations from existing programs, acceleration in production from new and ramping programs, a strong pipeline for new partners and remain committed to generating positive operating leverage.”