FinWise Posts $10 Million in Net Income and Diluted EPS of $0.73
Key Facts
FinWise Bancorp reported net income of $10.0 million and diluted earnings per share of $0.73 in the third quarter of 2026, according to the company’s statement. Net income was higher than $2.1 million in the second quarter and $4.9 million in the same period a year earlier. The comparison reflects an acceleration in earnings during the quarter, alongside higher net interest income and loan origination activity. But the company said net income included a gain from an acquisition transaction and a loss from discontinued operations. A conference call to discuss the results was scheduled for October 28, 2026, at 5:00 p.m. Eastern Time.
Net interest income was $41.9 million in the third quarter, compared with $28.4 million in the second quarter and $18.6 million in the third quarter of 2025, according to FinWise’s statement. The increase shows that net interest income expanded both sequentially and year over year alongside growth in loan originations. Loan originations totaled $2.1 billion during the quarter, compared with $1.6 billion in the previous period and $1.8 billion a year earlier. The company attributed the increase in originations primarily to seasonal factors, growth in its credit-supported lending relationship, and higher volumes in certain programs. This places growth in lending activity alongside the rise in net interest income in the picture of quarterly performance, without changing the impact of the exceptional items included in net income.
The company’s statement said net income for the three months ended September 30 included a $6.5 million bargain purchase gain, resulting from the July 20, 2026, acquisition of certain assets of Tallied Technologies and assumption of certain liabilities. Net income also included a loss of $0.4 million from discontinued operations. Including the gain and loss means the reported earnings figure contains items related to the transaction and discontinued operations, alongside the period’s business results. It is therefore important to read net income of $10.0 million with these details provided by the company, rather than in isolation. Among the facts available here, the statement did not provide a net income figure excluding these two items.
On asset quality, CEO Jim Nunn said net charge-offs on loans that were not credit-supported totaled $2.6 million in the quarter, well below the range of the prior few quarters. He added that non-performing asset balances declined compared with the previous quarter. Meanwhile, outstanding credit-supported loan balances rose to $146.2 million at the end of the quarter, from $74.2 million at the end of the second quarter and $41.4 million at the end of the third quarter of 2025. The company linked the growth in these balances to the credit-supported lending relationship it cited among the reasons for the increase in loan originations. These figures provide the credit indicators reported by management alongside the expansion in activity, with the comparison differing between flows of originated loans and balances outstanding at period-end.
The company’s total assets were $958.3 million on September 30, 2026, up from $925.3 million on June 30 and $899.9 million on September 30, 2025, according to FinWise. The figures show an increase in assets both sequentially and year over year, alongside higher credit-supported loan balances and loan origination activity. The company also said it expects to complete the sale of its credit card business, including certain credit card assets acquired in the Tallied transaction, by the second quarter of 2027. That timing follows the July 2026 acquisition, which resulted in the bargain purchase gain included in third-quarter net income. FINW shares closed at $10.45 on October 27, 2026, according to EL7 data; this information does not specify the timing of the close relative to the earnings announcement.