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FinWise Bancorp Reports First Quarter 2024 Results

Stocks Earnings Releases and Operating Results

- Net Income of $3.3 Million for First Quarter of 2024 -

GlobeNewswire Inc. • 29/04/2024 à 22:15:00
FinWise Bancorp Common
Address: 756 EAST WINCHESTER STREET #100
Postal Code: 84107
City: MURRAY
State: UT
Phone Number: 801-545-6003
Website: https://www.finwisebancorp.com
Status: Active
Company Info

FinWise Bancorp is an independent bank that provides a full range of banking services to individual and corporate customers. The bank's primary source of revenue is from loans including Small Business Administration, commercial, commercial real estate, residential real estate, and consumer. The Bank also has established Strategic Programs with various third-party loan origination platforms that use technology to streamline the origination of unsecured consumer and secured or unsecured business loans to borrowers within certain approved credit profiles.

List Date2021-11-19
MarketStocks
LocalUS
Primary ExchangeXNAS
TypeCS
Currency NameUSD
CIK0001856365
Composite figiBBG011VF9YT3
Share Class figiBBG011VF9ZN6
Market Cap135,611,683 USD
SIC Code6022
SIC DescriptionSTATE COMMERCIAL BANKS
Total Employees162
Share Class Shares Outstanding12790000
Weighted Shares Outstanding12793555
Round Lot100
Updated date2024-05-12
Stats
Last 5 days
15-05
14-05
13-05
10-05
9-05
Last
10.566
10.665
10.55
10.59
10.64
Variance
-0.13%
0.33%
-0.52%
-0.47%
-0.65%
Open
10.58
10.63
10.605
10.64
10.71
Highest
10.6
10.745
10.679
10.71
10.839
Lowest
10.6
10.745
10.617
10.71
10.751
History
PeriodVarhighestlowest
1 week
-1.77%
10.839
10.522
1 month
9.79%
11.361
9.907
3 month
1.06%
10.655
9.306
6 month
-2.05%
10.74
9.306
1 year
30.2%
8.27
7.62
3 year
-15.84%
13.89
7.61
5 year
-15.84%
13.89
7.61
10 year
-15.84%
13.89
7.61
Stock Financials
Balance Sheet
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2023-05-15 2023-08-15 2023-11-13 UNPUB
Assets 442,299,000 495,625,000 555,056,000 UNPUB
Current Assets 442,299,000 495,625,000 555,056,000 UNPUB
Current Liabilities 297,946,000 348,177,000 404,654,000 UNPUB
Equity 144,353,000 147,448,000 150,402,000 UNPUB
Equity Attributable To Noncontrolling Interest 0 0 0 UNPUB
Equity Attributable To Parent 144,353,000 147,448,000 150,402,000 UNPUB
Liabilities 297,946,000 348,177,000 404,654,000 UNPUB
Liabilities And Equity 442,299,000 495,625,000 555,056,000 UNPUB
Noncurrent Assets 0 0 0 UNPUB
Noncurrent Liabilities 0 0 0 UNPUB
Cash Flow Statement
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2023-05-15 2023-08-15 2023-11-13 UNPUB
Exchange Gains/Losses UNPUB UNPUB UNPUB UNPUB
Net Cash Flow 5,042,000 13,434,000 7,729,000 UNPUB
Net Cash Flow, Continuing 5,042,000 13,434,000 7,729,000 UNPUB
Net Cash Flow From Financing Activities 39,987,000 47,135,000 51,843,000 UNPUB
Net Cash Flow From Financing Activities, Continuing 39,987,000 47,135,000 51,843,000 UNPUB
Net Cash Flow From Investing Activities -38,259,000 -24,288,000 -52,751,000 UNPUB
Net Cash Flow From Investing Activities, Continuing -38,259,000 -24,288,000 -52,751,000 UNPUB
Net Cash Flow From Operating Activities 3,314,000 -9,413,000 8,637,000 UNPUB
Net Cash Flow From Operating Activities, Continuing 3,314,000 -9,413,000 8,637,000 UNPUB
Comprehensive Income
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2023-05-15 2023-08-15 2023-11-13 UNPUB
Comprehensive Income/Loss 3,861,000 4,638,000 4,804,000 UNPUB
Comprehensive Income/Loss Attributable To Noncontrolling Interest 0 0 0 UNPUB
Comprehensive Income/Loss Attributable To Parent 3,861,000 4,638,000 4,804,000 UNPUB
Other Comprehensive Income/Loss 0 0 0 UNPUB
Other Comprehensive Income/Loss Attributable To Parent UNPUB UNPUB UNPUB UNPUB
Income Statement
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2023-05-15 2023-08-15 2023-11-13 UNPUB
Basic Earnings Per Share 0 0 0 UNPUB
Benefits Costs and Expenses 8,176,000 9,593,000 10,712,000 UNPUB
Cost Of Revenue UNPUB UNPUB UNPUB UNPUB
Costs And Expenses 8,176,000 9,593,000 10,712,000 UNPUB
Diluted Earnings Per Share 0 0 0 UNPUB
Gross Profit UNPUB UNPUB UNPUB UNPUB
Income/Loss From Continuing Operations After Tax 3,861,000 4,638,000 4,804,000 UNPUB
Income/Loss From Continuing Operations Before Tax 5,225,000 6,276,000 6,500,000 UNPUB
Income Tax Expense/Benefit 1,364,000 1,638,000 1,696,000 UNPUB
Interest Expense, Operating 1,295,000 2,194,000 2,801,000 UNPUB
Net Income/Loss 3,861,000 4,638,000 4,804,000 UNPUB
Net Income/Loss Attributable To Noncontrolling Interest 0 0 0 UNPUB
Net Income/Loss Attributable To Parent 3,861,000 4,638,000 4,804,000 UNPUB
Net Income/Loss Available To Common Stockholders, Basic 3,824,000 4,550,000 4,715,000 UNPUB
Operating Expenses 8,176,000 9,593,000 10,712,000 UNPUB
Operating Income/Loss 5,225,000 6,276,000 6,500,000 UNPUB
Participating Securities, Distributed And Undistributed Earnings/Loss, Basic 74,000 176,000 178,000 UNPUB
Preferred Stock Dividends And Other Adjustments 37,000 88,000 89,000 UNPUB
Revenues 13,401,000 15,869,000 17,212,000 UNPUB
Balance Sheet
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2022-05-16 2022-08-15 2022-11-14 2023-03-30
Assets 424,484,000 365,987,000 385,569,000 400,780,000
Current Assets 424,484,000 365,987,000 385,569,000 400,780,000
Current Liabilities -124,955,000 -130,537,000 251,284,000 260,321,000
Equity 124,955,000 130,537,000 134,285,000 140,459,000
Equity Attributable To Noncontrolling Interest 0 0 0 0
Equity Attributable To Parent 124,955,000 130,537,000 134,285,000 140,459,000
Liabilities 299,529,000 235,450,000 251,284,000 260,321,000
Liabilities And Equity 424,484,000 365,987,000 385,569,000 400,780,000
Noncurrent Assets 0 0 0 0
Noncurrent Liabilities 0 0 0 0
Cash Flow Statement
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2022-05-16 2022-08-15 2022-11-14 2023-03-30
Exchange Gains/Losses UNPUB UNPUB UNPUB UNPUB
Net Cash Flow 30,892,000 -20,118,000 -4,065,000 14,813,000
Net Cash Flow, Continuing 30,892,000 -20,118,000 -4,065,000 14,813,000
Net Cash Flow From Financing Activities 25,510,000 -58,677,000 13,234,000 -10,506,000
Net Cash Flow From Financing Activities, Continuing 25,510,000 -58,677,000 13,234,000 -10,506,000
Net Cash Flow From Investing Activities 9,779,000 -3,329,000 -16,067,000 -35,834,000
Net Cash Flow From Investing Activities, Continuing 9,779,000 -3,329,000 -16,067,000 -35,834,000
Net Cash Flow From Operating Activities -4,397,000 41,888,000 -1,232,000 61,153,000
Net Cash Flow From Operating Activities, Continuing -4,397,000 41,888,000 -1,232,000 61,153,000
Comprehensive Income
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2022-05-16 2022-08-15 2022-11-14 2023-03-30
Comprehensive Income/Loss 9,434,000 5,482,000 3,654,000 25,115,000
Comprehensive Income/Loss Attributable To Noncontrolling Interest 0 0 0 0
Comprehensive Income/Loss Attributable To Parent 9,434,000 5,482,000 3,654,000 25,115,000
Other Comprehensive Income/Loss 0 0 0 0
Other Comprehensive Income/Loss Attributable To Parent UNPUB UNPUB UNPUB UNPUB
Income Statement
LabelQuarter 1 (USD)Quarter 2 (USD)Quarter 3 (USD)Full Year (USD)
Filing date 2022-05-16 2022-08-15 2022-11-14 2023-03-30
Basic Earnings Per Share 1 0 0 2
Benefits Costs and Expenses 575,000 5,745,000 5,707,000 16,298,000
Cost Of Revenue UNPUB UNPUB UNPUB UNPUB
Costs And Expenses 575,000 5,745,000 5,707,000 16,298,000
Diluted Earnings Per Share 1 0 0 2
Gross Profit UNPUB UNPUB UNPUB UNPUB
Income/Loss From Continuing Operations After Tax 9,434,000 5,482,000 3,654,000 25,115,000
Income/Loss From Continuing Operations Before Tax 12,648,000 7,268,000 7,116,000 36,031,000
Income Tax Expense/Benefit 3,214,000 1,786,000 3,462,000 10,916,000
Interest Expense, Operating 262,000 244,000 304,000 1,434,000
Net Income/Loss 9,434,000 5,482,000 3,654,000 25,115,000
Net Income/Loss Attributable To Noncontrolling Interest 0 0 0 0
Net Income/Loss Attributable To Parent 9,434,000 5,482,000 3,654,000 25,115,000
Net Income/Loss Available To Common Stockholders, Basic 9,434,000 5,441,000 3,627,000 24,922,000
Operating Expenses 575,000 5,745,000 5,707,000 16,298,000
Operating Income/Loss 12,648,000 7,268,000 7,116,000 36,031,000
Participating Securities, Distributed And Undistributed Earnings/Loss, Basic 0 82,000 54,000 386,000
Preferred Stock Dividends And Other Adjustments 0 41,000 27,000 193,000
Revenues 13,223,000 13,013,000 12,823,000 52,329,000
Calendar
16 May 2024 (Time UTC) Actual Previous Consensus
★
09:15
United States
APR
0.500
0.100
★★
09:15
United States
APR
0.000
★
09:15
United States
APR
78.400
78.400
★
09:15
United States
APR
★
08:30
United States
MAY 10
215000.000
★★
08:30
United States
MAY 10
231000.000
220000.000
★★
08:30
United States
APR
0.400
0.400
★
08:30
United States
APR
0.400
★
08:30
United States
APR
1321000.000
1410000.000
★★
08:30
United States
APR
-14.700
★
08:30
United States
APR
-1.400
★
08:30
United States
MAY 10
1785000.000
1780000.000
★★
08:30
United States
MAY
-10.700
★
08:30
United States
MAY
20.000
★
08:30
United States
MAY
12.200
News Stream
Stocks Earnings Releases and Operating Results
FinWise Bancorp Reports First Quarter 2024 Results
- Net Income of $3.3 Million for First Quarter of 2024 -
GlobeNewswire Inc. • 2w ago
Calendar Calendar of Events
FinWise Bancorp to Host First Quarter 2024 Webcast and Conference Call on Monday, April 29, 2024
MURRAY, Utah, April 04, 2024 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), the parent company of FinWise Bank, announced today that it will report its first quarter 2024 results and host a webcast and conference call after the market close on Monday, April 29, 2024.
GlobeNewswire Inc. • 1mo ago
Management Directors and Officers
FinWise Bancorp Appoints Jim Noone President and Hires Robert Wahlman as Chief Financial Officer
MURRAY, Utah, March 28, 2024 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced the appointment of Jim Noone to President along with the hiring and appointment of Robert Wahlman as Chief Financial Officer, effective immediately. Mr. Wahlman will succeed Javvis Jacobson, who will remain with the Bank as Treasurer.
GlobeNewswire Inc. • 1mo ago
Management Directors and Officers
FinWise Bancorp Announces Two Senior Leadership Promotions
- Promotes Robert Keil and Richard Thiessens to Executive Vice Presidents -- Highlights Company’s Commitment to Delivering on Strategic Initiatives -
GlobeNewswire Inc. • 3mo ago
News News
FinWise Bancorp (FINW) Beats Q4 Earnings and Revenue Estimates
FinWise Bancorp (FINW) delivered earnings and revenue surprises of 6.67% and 9.22%, respectively, for the quarter ended December 2023. Do the numbers hold clues to what lies ahead for the stock?
Zacks Investment Research • 3mo ago
Stocks Earnings Releases and Operating Results
FinWise Bancorp Reports Fourth Quarter and Full Year 2023 Results
- Net Income of $4.2 Million for Fourth Quarter of 2023 -
GlobeNewswire Inc. • 3mo ago
News News
Here's What Could Help FinWise Bancorp (FINW) Maintain Its Recent Price Strength
FinWise Bancorp (FINW) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.
Zacks Investment Research • 3mo ago
News News
What Makes FinWise Bancorp (FINW) a Good Fit for 'Trend Investing'
FinWise Bancorp (FINW) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.
Zacks Investment Research • 4mo ago
Calendar Calendar of Events
FinWise Bancorp to Host Fourth Quarter and Full Year 2023 Webcast and Conference Call on Monday, January 29, 2024
MURRAY, Utah, Jan. 11, 2024 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), the parent company of FinWise Bank, announced today that it will report its fourth quarter and full year 2023 results and host a webcast and conference call after the market close on Monday, January 29, 2024.
GlobeNewswire Inc. • 4mo ago
News News
FinWise Bancorp (FINW) is on the Move, Here's Why the Trend Could be Sustainable
FinWise Bancorp (FINW) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.
Zacks Investment Research • 4mo ago
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