FinWise Bancorp Reports Q2 Earnings Amid Elevated Credit Costs
FinWise Bancorp (NASDAQ:FINW) reported second-quarter net income of $2.1 million, or $0.15 per diluted share in July 2026. The results were impacted by higher credit costs and provisions for losses on traditional banking loans, despite strong loan originations exceeding guidance at $1.6 billion. The company noted a decrease in nonperforming loans to about $38 million from nearly $50 million the previous quarter due to collateral resolutions and paydowns of SBA 7(a) loans. However, management expects continued elevated charge-offs on legacy Small Business Administration (SBA) credits for several quarters ahead. FinWise also announced a new fintech partnership involving prepaid cards set to launch in Q4 and withdrew its year-end credit-enhanced balance target due to integration costs from the Tallied acquisition.
Tickers: $FINW
Topics: banking credit risk fintech expansion loan originations