FinWise Bancorp (NASDAQ:FINW) Q3 2024 Earnings Conference Call October 24, 2024 5:30 PM ET
Company Participants
Juan Arias - Head of Corporate Management and Investor Relations
Kent Landvatter – CEO
Jim Noone – President
Bob Wahlman – CFO
Conference Call Participants
Andrew Liesch - Piper Sandler
Andrew Terrell – Stephens
Unknown Analyst – Unknown Company
Operator
Greetings and welcome to the FinWise Bancorp's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions]. As a reminder this conference is being recorded. It is my pleasure to introduce Juan Arias, Head of Corporate Management and Investor Relations. Thank you. You may begin.
Juan Arias
Good afternoon, and thank you for joining us today for FinWise Bancorp's third quarter 2024 earnings conference call. Earlier today, we filed our earnings release and posted it to our investor website at investors.finwisebancorp.com. Today's conference call is being recorded and webcast on the company's website, investors.finwisebancorp.com.
On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those discussed today. Forward-looking statements represent management's current estimates, expectations, and beliefs, and FinWise Bancorp assumes no obligation to update any forward-looking statements in the future. We encourage listeners to review the more detailed discussions related to these forward-looking statements contained in the company's earnings press release and filings with the Securities and Exchange Commission.
Hosting the call today are Kent Landvatter, CEO, Jim Noone, President, and Bob Wahlman, CFO. With that, I will turn the call over to Kent.
Kent Landvatter
Good afternoon, everyone. Our results during the third quarter of 2024 reflect the resiliency of our existing business as well as the actions we have taken to enhance the company's long-term growth. Loan originations during the quarter grew to $1.4 billion a notable step up from the approximately $1.1 billion in average originations of the prior five quarters. Furthermore, we generated solid revenue, particularly strategic program fees, coupled with a deceleration of our expense growth. Moreover, we continue to gain traction with new strategic programs. During the quarter, we announced one new lending program, which brings our total to three so far in 2024, and we are optimistic about our pipeline. These programs with leading FinTech companies are a testament to the strength of the FinWise multiproduct platform, which includes lending, deposit, payments and card products.