FinWise Reports $1.6 Billion in Q3 Loan Originations
FinWise Bancorp (NASDAQ: FINW) reported third-quarter loan originations of $1.6 billion, maintaining its quarterly net charge-off guidance between $4 million and $5 million. The company's CEO, James Noone, noted that second-quarter earnings fell short due to higher provision expenses on loans where the firm retains credit risk. The report highlights FinWise’s continued focus on managing loan portfolios amid economic uncertainties. Despite a weaker-than-expected Q2 performance, management remains confident in its guidance for charge-offs and originations as it navigates market conditions affecting consumer lending.
Tickers: $FINW
Topics: Credit Risk Earnings Provision Expense