Form 8-K
8-K — Finwise Bancorp
Accession: 0001856365-26-000048
Filed: 2026-04-30
Period: 2026-04-30
CIK: 0001856365
SIC: 6022 (STATE COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — finw-20260430.htm (Primary)
EX-99.1 (finw-2026430earningsrelease.htm)
EX-99.2 (finw_investorxpresentati.htm)
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8-K
8-K (Primary)
Filename: finw-20260430.htm · Sequence: 1
finw-20260430
0001856365FALSE00018563652026-04-302026-04-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 30, 2026
FINWISE BANCORP
(Exact name of registrant as specified in its charter)
Utah 001-40721 83-0356689
(State or other jurisdiction of incorporation or organization) (Commission file number) (I.R.S. employer identification no.)
756 East Winchester St., Suite 100
84107
Murray, Utah
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (801) 501-7200
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of exchange on which registered
Common Stock, par value $0.001 per share FINW The NASDAQ Stock Market LLC
Item 2.02Results of Operations and Financial Condition.
Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the press release of FinWise Bancorp (the "Company"), dated April 30, 2026, reporting the Company's financial results for the fiscal quarter ended March 31, 2026.
The information set forth under this “Item 2.02 Results of Operations and Financial Condition,” including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 7.01Regulation FD Disclosure.
The Company has prepared materials for presentation to investors. A copy of the materials is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The information set forth under “Item 7.01 Regulation FD Disclosure,” including Exhibit 99.2 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits
Exhibit No. Description
99.1
Press Release dated April 30, 2026
99.2
Investor Presentation of FinWise Bancorp dated April 2026 (furnished pursuant to Regulation FD).
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, FinWise Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DATE: April 30, 2026
FINWISE BANCORP
/s/ Robert Wahlman
Robert Wahlman
Chief Financial Officer and Executive Vice President
EX-99.1
EX-99.1
Filename: finw-2026430earningsrelease.htm · Sequence: 2
Document
Exhibit 99.1
FINWISE BANCORP REPORTS FIRST QUARTER 2026 RESULTS
- Loan Originations of $1.7 Billion -
- Net Income of $2.7 Million -
- Diluted Earnings Per Share of $0.20 -
MURRAY, UTAH — April 30, 2026 (GLOBE NEWSWIRE) — FinWise Bancorp (NASDAQ: FINW) (“FinWise”, the “Company”, “we”, “our”, or “us”), parent company of FinWise Bank (the “Bank”), today announced results for the quarter ended March 31, 2026.
First Quarter 2026 Highlights
•Loan originations totaled $1.7 billion, compared to $1.6 billion for the quarter ended December 31, 2025, and $1.3 billion for the first quarter of the prior year
•Net interest income was $28.1 million, compared to $24.6 million for the quarter ended December 31, 2025, and $14.3 million for the first quarter of the prior year
•Net income was $2.7 million, compared to $3.9 million for the quarter ended December 31, 2025, and $3.2 million for the first quarter of the prior year
•Diluted earnings per share (“EPS”) were $0.20 for the quarter, compared to $0.27 for the quarter ended December 31, 2025, and $0.23 for the first quarter of the prior year
•Efficiency ratio1 was 66.3%, compared to 50.5% for the quarter ended December 31, 2025, and 64.8% for the first quarter of the prior year
•Nonperforming loan balances were $49.8 million as of March 31, 2026, compared to $43.7 million as of December 31, 2025, and $29.9 million as of March 31, 2025. Nonperforming loan balances guaranteed by the Small Business Administration (“SBA”) were $26.7 million, $24.2 million, and $15.1 million as of March 31, 2026, December 31, 2025, and March 31, 2025, respectively
“FinWise delivered $1.7 billion in loan originations during the first quarter—up 38% year over year— and core expenses were held flat enabling us to grow tangible book value to $14.34 per share and maintaining a strong Bank Leverage Ratio of 16.8%, nearly double the current well capitalized minimum requirement,“ said Jim Noone, CEO of FinWise Bancorp. “Results this quarter included elevated net charge-offs, from both our credit enhanced portfolio—which are fully reimbursed to FinWise under the structure of the product—as well as a limited number of legacy SBA credits. We expect these SBA charge-offs to remain elevated over the next few quarters as those credits continue to be actively managed. Our partner pipeline continues to strengthen, the platform is scaling, and the long-term trajectory of the business is strong. We remain focused on disciplined execution and building long-term shareholder value.”
1 See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a reconciliation of this non-GAAP measure.
1
Selected Financial and Other Data
As of and for the Three Months Ended
($ in thousands, except per share amounts)
3/31/2026 12/31/2025 3/31/2025
Amount of loans originated $ 1,745,428 $ 1,561,310 $ 1,264,604
Net income $ 2,735 $ 3,915 $ 3,189
Diluted EPS(1)
$ 0.20 $ 0.27 $ 0.23
Return on average assets(2)
1.2 % 1.7 % 1.7 %
Return on average equity(2)
5.7 % 8.1 % 7.4 %
Yield on loans 18.04 % 16.06 % 12.31 %
Cost of interest-bearing deposits 3.91 % 3.96 % 4.01 %
Net interest margin 12.90 % 11.42 % 8.27 %
Efficiency ratio(3)
66.3 % 50.5 % 64.8 %
Tangible book value per share(4)
$ 14.34 $ 14.15 $ 13.42
Tangible shareholders’ equity to tangible assets(4)
21.9 % 19.8 % 22.0 %
Leverage ratio (Bank under CBLR)
16.8 % 16.9 % 18.8 %
Full-time equivalent employees
210 198 196
(1) FinWise uses the two-class method to calculate basic and diluted EPS as restricted stock awards are considered participating securities due to the dividend rights associated with those awards. On December 31, 2025, executive management elected to waive the dividend rights on their non-vested restricted stock awards. As a result, beginning on December 31, 2025, the unvested shares held by executive management will no longer be treated as participating securities and are excluded from the two-class method calculation of EPS. This change was effective beginning with the quarter ending December 31, 2025 and had a de minimus impact on basic and diluted earnings per share in the fourth quarter of 2025. The change does not affect previously reported periods.
(2) Annualized for the respective three-month periods.
(3) Efficiency ratio is a non-GAAP financial measure. The efficiency ratio is defined as total non-interest expense divided by the sum of net interest income and non-interest income. The Company believes this measure is important as an indicator of productivity because it shows the amount of revenue generated for each dollar spent. See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.
(4) Tangible shareholders’ equity to tangible assets is a non-GAAP financial measure. Tangible shareholders’ equity is defined as total shareholders’ equity less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholder’s equity to total assets. The Company had no goodwill or other intangible assets at the end of any period indicated. The Company has not considered loan servicing rights or loan trailing fee assets as intangible assets for purposes of this calculation. As a result, tangible shareholders’ equity is the same as total shareholders’ equity at the end of each of the periods indicated.
Net Interest Income and Net Interest Margin
Net interest income was $28.1 million for the first quarter of 2026, compared to $24.6 million for the prior quarter and $14.3 million for the prior year period. The increase from the prior quarter resulted primarily from a change in estimate on the allocation of interest received on credit enhanced loans in excess of the amount FinWise retains. FinWise now estimates that all excess interest is attributable to servicing and credit guarantee expense where previously it had been estimated that a portion was attributable to originations costs, or finders fee, and was reported net in interest income. Also contributing to the increase in interest income was an increase in the Bank’s average balance of credit enhanced loans. Net interest margin increased due to the described increase in interest income as well a lower cost of deposits. The increase in interest income and net interest margin from the prior year period was primarily due to an increase in the Bank’s credit enhanced average balances, an increase in average balances in the Strategic Program loans held-for-sale portfolio of $45.0 million, and the change in estimated allocation of excess interest on credit enhanced loans, offset in part by growth in brokered certificates of deposits used to fund the loan portfolio growth.
Loan originations totaled $1.7 billion for the first quarter of 2026, an increase from the $1.6 billion recorded in the prior quarter and the $1.3 billion recorded in the prior year period. The growth in originations compared to both the prior quarter and the prior year period mostly reflects the continued increase in originations by certain established strategic programs as well as newly onboarded strategic programs.
2
Net interest margin for the first quarter of 2026 was 12.90%, compared to 11.42% for the prior quarter and 8.27% for the prior year period. The increase in net interest margin from the prior quarter results from the change in estimated allocation of the excess interest as previously described as well as the credit enhanced portfolio average balance growth and higher yields on the loans held-for-investment and slightly lower rates paid on deposits. The increase in net interest margin from the prior year period also resulted from the change in estimated allocation of the credit enhancement program and the average balance growth.
Provision for Credit Losses
Three Months Ended
($ in thousands) 3/31/2026 12/31/2025 3/31/2025
Provision for credit losses:
Strategic Program loans - with credit enhancement(1)
$ 5,864 $ 12,801 $ 85
Strategic Program loans - without credit enhancement
1,886 2,064 1,816
All other loans (core portfolio) 2,816 2,853 1,406
Provision for credit losses on loans 10,566 17,718 3,307
Provision for unfunded commitments 15 (6) 29
Total provision for credit losses
$ 10,581 $ 17,712 $ 3,336
(1) For credit enhanced loans, fintech partners are required to maintain a deposit account at FinWise, which is used to recover charge-offs. The provision for credit losses on these loans differs from the core portfolio, as it is fully offset by expected recoveries under the partner guarantee, which is recognized as credit enhancement income in non-interest income.
The Company’s provision for credit losses was $10.6 million for the first quarter of 2026, compared to $17.7 million for the prior quarter and $3.3 million for the prior year period. The decrease in the provision for credit losses from the prior quarter was primarily due to a ramp up in the prior quarter with credit enhanced loan programs, which required a higher provision for credit losses as the Company anticipated increased risk exposure associated with the growth. However, in the first quarter of 2026, the growth in these programs stabilized, which led to a lower provision for credit losses. The increase in the Strategic Program loans’ provision for credit losses from the prior year period was primarily related to growth in the credit enhanced loan portfolio as well as higher net charge-offs resulting from our adoption of more conservative servicing and administration standards which prompted an accelerated classification of nonperforming loans and charge-offs. The increase in the core portfolio’s provision for credit losses from the prior year period results from the increased estimate of losses on the higher balances of the non-guaranteed nonperforming loans.
3
Non-interest Income
Three Months Ended
($ in thousands) 3/31/2026 12/31/2025 3/31/2025
Non-interest income
Strategic Program fees $ 5,702 $ 5,477 $ 4,962
Gain on sale of loans 1,452 2,190 846
SBA loan servicing fees, net 158 4 178
Change in fair value on investment in BFG (200) 400 400
Interchange income 703 310 —
Credit enhancement income 5,864 12,801 85
Other miscellaneous income (loss) 948 1,100 1,339
Total non-interest income $ 14,627 $ 22,282 $ 7,810
The decrease in non-interest income from the prior quarter was primarily due to decreases in credit enhancement income, gain on sale of loans, and the fair value of our BFG investment. Credit enhancement income mirrors the provision for credit losses on credit enhanced loans and decreased for the quarter ended March 31, 2026. In the prior quarter, the Company experienced significant expansion in the credit enhanced loan programs, which led to higher credit enhancement income as a result of a higher provision for credit losses. The decrease in gain on sale of loans from the prior quarter was due to lower sales of the guaranteed portion of SBA 7(a) loans. These decreases in non-interest income from the prior quarter were partially offset by an increase in interchange income, which was largely a result of a full quarter of performance of our credit card portfolio acquired in mid-November 2025.
The increase in non-interest income compared to the prior year period was primarily due to increases in credit enhanced loan balances which generated higher credit enhancement income. Additionally, the increased sales of the guaranteed portions of SBA 7(a) loans led to an increase in gains on loan sales, higher originations resulted in increased Strategic Program fees, and acquisition of the credit card portfolio introduced interchange income to FinWise.
Non-interest Expense
Three Months Ended
($ in thousands) 3/31/2026 12/31/2025 3/31/2025
Non-interest expense
Salaries and employee benefits $ 11,038 $ 11,157 $ 9,826
Professional services 880 899 907
Occupancy and equipment expenses 425 434 543
Credit enhancement servicing expense 2,429 961 2
Credit enhancement guarantee expense
10,098 6,724 11
Other operating expenses 3,468 3,476 3,029
Total non-interest expense $ 28,338 $ 23,651 $ 14,318
The increase in non-interest expense from the prior quarter resulted primarily from increases in credit enhancement guarantee and servicing expenses largely resulting from an increase in interest income attributable to the credit enhanced loan portfolio. The increase in the credit enhancement servicing and guarantee expenses results principally from a change in estimate of the allocation of interest received on credit enhanced loans in excess of the amount FinWise retains. FinWise estimates that all the excess interest is attributable to the servicing and guarantee expenses where previously it has been estimated that a portion of the excess spread was attributable to origination costs, or finder’s fee, and was reported net in interest income.
4
The increase in non-interest expense from the prior year period was primarily due to an increase in credit enhancement guarantee and servicing expenses resulting from growth in credit enhanced loans and salaries and employee benefits mainly from increased headcount.
FinWise’s efficiency ratio was 66.3% for the first quarter, compared to 50.5% for the prior quarter and 64.8% for the prior year period. We expect the efficiency ratio to improve as we begin to realize increased revenues from interest earned on our growing credit enhanced loan balances.
Tax Rate
The Company’s effective tax rate was 28.0% for the first quarter of 2026, compared to 28.7% for the prior quarter and 28.1% for the prior year period. The decrease from the prior quarter and prior year period was principally due to the apportionment of income between states with various tax rates.
Net Income
Net income was $2.7 million for the first quarter of 2026, compared to $3.9 million for the prior quarter and $3.2 million for the prior year period. The changes in net income for the three months ended March 31, 2026 compared to the prior quarter and prior year period are generally the result of the factors discussed in the foregoing sections.
Balance Sheet
The Company’s total assets were $899.4 million as of March 31, 2026, a decrease from $977.1 million as of December 31, 2025 and an increase from $804.1 million as of March 31, 2025. The decrease in total assets from December 31, 2025 was primarily due to decreases in the Company’s interest-bearing cash deposits of $60.7 million, loans held-for-sale portfolio of $12.6 million, and loans held-for-investment, net, of $2.4 million. The increase in total assets compared to March 31, 2025 was primarily due to increases in the Company’s credit enhancement loans of $107.8 million, credit enhancement asset of $23.2 million, and loans held-for-sale portfolio of $15.1 million, offset in part by a decrease in SBA loans of $43.6 million.
The following table provides the composition and gross balances of loans held-for-investment (“HFI”) as of the dates indicated:
3/31/2026 12/31/2025 3/31/2025
($ in thousands)
Amount % of total loans Amount % of total loans Amount % of total loans
SBA $ 202,438 34.6 % $ 205,615 35.1 % $ 246,004 50.0 %
Commercial leases 78,913 13.5 % 78,743 13.4 % 76,823 15.6 %
Commercial, non-real estate 3,877 0.7 % 4,201 0.7 % 3,550 0.7 %
Residential real estate 62,464 10.7 % 59,602 10.2 % 55,814 11.3 %
Strategic Program loans:
Strategic Program loans - with credit enhancement 109,081 18.7 % 108,131 18.5 % 1,285 0.3 %
Strategic Program loans - without credit enhancement 20,779 3.6 % 21,637 3.7 % 18,631 3.8 %
Commercial real estate:
Owner occupied 86,083 14.7 % 84,016 14.3 % 65,920 13.4 %
Non-owner occupied 2,003 0.3 % 1,638 0.3 % 1,390 0.3 %
Consumer 18,599 3.2 % 21,926 3.8 % 22,806 4.6 %
Total period end loans
$ 584,237 100.0 % $ 585,509 100.0 % $ 492,223 100.0 %
Note: SBA loans as of March 31, 2026, December 31, 2025 and March 31, 2025 include $95.1 million, $102.7 million and $150.0 million, respectively, of SBA 7(a) loan balances that are guaranteed by the SBA.
5
Total gross loans HFI as of March 31, 2026 decreased $1.3 million and increased $92.0 million compared to December 31, 2025 and March 31, 2025, respectively. The declines in the SBA portfolio resulted primarily from sales of the guaranteed portions of SBA 7(a) loans and increased charge-offs, reflecting ongoing portfolio and credit risk management. The credit enhanced portfolio of the Strategic Program loans as of March 31, 2026 increased $1.0 million and $107.8 million compared to December 31, 2025 and March 31, 2025, respectively, reflecting our 2025 strategic initiative to develop the credit enhanced portfolio.
The following table presents the Company’s deposit composition as of the dates indicated:
3/31/2026 12/31/2025 3/31/2025
($ in thousands)
Amount Percent Amount Percent Amount Percent
Noninterest-bearing demand deposits
$ 127,223 18.9 % $ 168,442 22.3 % $ 123,322 20.4 %
Interest-bearing deposits:
Demand
104,016 15.4 % 74,817 9.9 % 83,410 13.8 %
Savings
9,613 1.4 % 11,017 1.5 % 8,888 1.5 %
Money market
23,286 3.4 % 22,017 2.9 % 17,939 2.9 %
Time certificates of deposit
410,718 60.9 % 478,268 63.4 % 372,200 61.4 %
Total period end deposits
$ 674,856 100.0 % $ 754,561 100.0 % $ 605,759 100.0 %
The decrease in total deposits as of March 31, 2026 from December 31, 2025 was primarily due to reductions in noninterest-bearing demand deposits and certificates of deposit, as excess funds were not required to support the lower level of assets. The increase in total deposits as of March 31, 2026 from March 31, 2025 was driven primarily by growth in time certificates of deposit, which were added to fund loan growth and enhance FinWise’s liquidity profile.
Total shareholders’ equity as of March 31, 2026 increased $3.4 million to $196.6 million from $193.2 million at December 31, 2025. Compared to March 31, 2025, total shareholders’ equity increased by $19.2 million from $177.4 million. The increases from December 31, 2025 and March 31, 2025 were primarily due to net income generated throughout the respective periods.
Bank Regulatory Capital Ratios
The following table presents the leverage ratios for the Bank as of the dates indicated as determined under the Community Bank Leverage Ratio Framework of the Federal Deposit Insurance Corporation:
As of
Capital Ratios
3/31/2026 12/31/2025 3/31/2025 Well-Capitalized Requirement
Leverage ratio
16.8% 16.9% 18.8% 9.0%
The slight decrease in the leverage ratio from the prior quarter was primarily due to the growth in the average asset balances exceeding the relative growth in capital from earnings. The decrease from the prior year period resulted primarily from the growth in the loan portfolio exceeding the relative growth in capital from earnings. The Bank’s capital levels as of March 31, 2026 remain sufficiently above the regulatory well-capitalized guidelines as of March 31, 2026.
Asset Quality
The recorded balances of nonperforming loans were $49.8 million, or 8.5% of total loans held-for-investment, as of March 31, 2026, compared to $43.7 million, or 7.5% of total loans held-for-investment, as of December 31, 2025 and $29.9 million, or 6.1% of total loans held-for-investment, as of March 31, 2025. The balances of nonperforming loans guaranteed by the SBA were $26.7 million, $24.2 million, and $15.1 million as of March 31,
6
2026, December 31, 2025 and March 31, 2025, respectively. The increase in nonperforming loans from the prior quarter and prior year period was primarily attributable to an increase in the SBA 7(a) loan portfolio being classified as nonaccrual mainly due to the negative impact of sustained elevated interest rates on the Company’s small business borrowers and the adverse performance of internet based companies. The Company’s allowance for credit losses to total loans held-for-investment was 6.5% as of March 31, 2026 compared to 6.3% as of December 31, 2025 and 2.9% as of March 31, 2025. The increase in the ratio from the prior quarter and prior year period was primarily due to the provision for credit losses related to the growth of the credit enhanced loan balances.
The Company’s net charge-offs were $9.4 million, $6.7 million and $2.2 million for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively. The increase in net charge-offs from the prior quarter and the first quarter of 2025 resulted primarily from higher net charge-offs associated with credit enhanced strategic program loans as that program increases in size and matures. FinWise is reimbursed in full for the losses on the credit enhanced loan portfolio. Charge-offs have also increased for the traditional bank portfolio, particularly the retained portion of the SBA 7(a) loans reflecting credit deterioration of specific loans. The retained strategic program loan charge-offs remained consistent for the three months ended March 31, 2026 compared to the three months ended December 31, 2025.
The following table presents a summary of changes in the allowance for credit losses and credit quality data for the periods indicated:
Three Months Ended
($ in thousands)
3/31/2026 12/31/2025 3/31/2025
Allowance for credit losses:
Beginning balance
$ 36,796 $ 25,778 $ 13,176
Provision for credit losses(1)
10,566 17,718 3,307
Charge-offs
Construction and land development — — —
Residential real estate (244) (704) (7)
Residential real estate multifamily — — —
Commercial real estate:
Owner occupied (598) (1,204) (68)
Non-owner occupied (410) — —
Commercial and industrial (447) (441) (83)
Consumer (276) (212) (11)
Lease financing receivables (319) (73) (36)
Strategic Program loans:
Strategic Program loans - with credit enhancement (4,864) (1,534) —
Strategic Program loans - without credit enhancement (2,720) (2,898) (2,384)
Recoveries
Construction and land development — — —
Residential real estate — 2 3
Residential real estate multifamily — — —
Commercial real estate:
Owner occupied — 28 16
Non-owner occupied — — —
Commercial and industrial 5 — 14
Consumer 2 5 3
Lease financing receivables 42 3 (33)
Strategic Program loans - without credit enhancement(2)
440 328 338
7
Ending Balance
$ 37,973 $ 36,796 $ 14,235
Credit Quality Data
As of and For the Three Months Ended
($ in thousands)
3/31/2026 12/31/2025 3/31/2025
Nonperforming loans:
Guaranteed $ 26,672 $ 24,195 $ 15,147
Unguaranteed 23,171 19,518 14,737
Total nonperforming loans
$ 49,843 $ 43,713 $ 29,884
Allowance for credit losses $ 37,973 $ 36,796 $ 14,235
Net charge-offs:
Core portfolio
$ 2,245 $ 2,596 $ 202
Strategic Program loans - with credit enhancement(2)
4,832 1,534 —
Strategic Program loans - without credit enhancement 2,312 2,570 2,046
Total net charge-offs
$ 9,389 $ 6,700 $ 2,248
Total loans held-for-investment
$ 584,237 $ 585,509 $ 492,223
Total loans held-for-investment less guaranteed balances
$ 489,096 $ 482,815 $ 342,259
Average loans held-for-investment
$ 596,385 $ 594,967 $ 485,780
Nonperforming loans to total loans held-for-investment
8.5 % 7.5 % 6.1 %
Unguaranteed nonperforming loans to total loans held-for-investment 4.0 % 3.3 % 3.0 %
Net charge-offs to average loans held-for-investment (annualized)
6.4 % 4.5 % 1.9 %
Allowance for credit losses to loans held-for-investment
6.5 % 6.3 % 2.9 %
Allowance for credit losses to loans held-for-investment less guaranteed balances
7.8 % 7.6 % 4.2 %
(1) Excludes the provision for unfunded commitments.
(2) Recoveries related to Strategic Program loans that were reimbursed fully on the credit enhanced portfolio totaled $4.9 million, $1.6 million and $1.0 thousand for the three months ended March 31,2026, December 31, 2025 and March 31, 2025, respectively.
Webcast and Conference Call Information
FinWise will host a conference call today at 5:00 PM ET to discuss its financial results for the first quarter of 2026. A simultaneous audio webcast of the conference call will be available at https://investors.finwisebancorp.com/.
The dial-in number for the conference call is (877) 423-9813 (toll-free) or (201) 689-8573 (international). The conference ID is 13758871. Please dial the number 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available at investors.finwisebancorp.com for six months following the call.
Website Information
The Company intends to use its website, www.finwisebancorp.com, as a means of complying with its disclosure obligations under Regulation FD. Such disclosures will be included in the Company’s website’s Investor Relations section. Accordingly, investors should monitor the Investor Relations portion of the Company’s website, in addition to following its press releases, filings with the Securities and Exchange Commission (“SEC”), public conference calls, and webcasts. To subscribe to the Company’s e-mail alert service, please click the “Email Alerts” link in the Investor Relations section of its website and submit your email address. The information contained in, or that may be accessed through, the Company’s website is not incorporated by reference into or a part of this document or any other report or document it files with or furnishes to the SEC, and any references to the Company’s website are intended to be inactive textual references only.
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About FinWise Bancorp
FinWise Bancorp is a Utah bank holding company headquartered in Murray, Utah which wholly owns FinWise Bank, a Utah chartered state bank, and FinWise Investment LLC (together “FinWise”). FinWise provides Banking and Payments solutions to fintech brands. FinWise’s existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. As part of Strategic Program Lending, FinWise also provides a Credit Enhanced Balance Sheet Program, which addresses the challenges that lending and card programs face diversifying their funding sources and managing capital efficiency. In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. FinWise is also expanding and diversifying its business model by incorporating Payments (MoneyRails™) and BIN Sponsorship offerings. Through its compliance oversight and risk management-first culture, FinWise is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance. For more information about FinWise visit https://investors.finwisebancorp.com.
Contacts
investors@finwisebank.com
media@finwisebank.com
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to, among other things, the Company’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “believe,” “expect,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “projection,” “forecast,” “budget,” “goal,” “target,” “would,” “aim” and “outlook,” or similar expressions generally indicate a forward-looking statement.
These forward-looking statements are based on management assumptions and involve risks and uncertainties that are subject to change based on various important factors, some of which are beyond the Company’s control. Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause the Company’s actual results to differ materially from those indicated in these forward-looking statements, including: the success of the financial technology and banking-as-a-service industries, as well as the continued evolution of the regulation of these industries; the Company’s ability to maintain and grow its relationships with its service providers and reliance on such providers to comply with regulatory regimes; the Company’s ability to keep pace with rapid technological changes in the industry or implement new technology effectively; ability to effectively manage and remediate system failure or cybersecurity breaches of the Company’s network security; the Company’s ability to measure and manage its credit risk effectively and any deterioration of the business and economic conditions in the Company’s primary market areas; the adequacy of the Company’s allowance for credit losses; changes in Small Business Administration rules, regulations and loan products and the existing regulatory framework for brokered deposits; higher inflation and its impacts; the effects of changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs on its trading partners; the value of collateral securing the Company’s loans; the Company’s levels of nonperforming assets; the potential for negative consequences resulting from regulatory violations, investigations and examinations, including potential supervisory actions, the assessment of fines and penalties, the imposition of sanctions, the need to undertake remedial actions and possible damage to the Company’s reputation; natural disasters and adverse weather, acts of terrorism, pandemics, an outbreak of hostilities or other international or domestic calamities, including the ongoing conflicts in Iran and Middle East that can increase levels of political and economic unpredictability, contribute to rising
9
energy and commodity prices, and increase the volatility of financial markets; anticipated benefits of new lines of business that the Company may enter or investments or acquisitions the Company may make that are not realized within the expected time frame or at all; further negative ratings outlooks or downgrades of the long-term credit rating of the United States; the ongoing government shutdown and other political impasses, including with respect to the debt ceiling and the federal budget of the United States.
The Company cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review the Company’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. The Company does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by the Company or by or on behalf of the Company, except as may be required under applicable law.
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FINWISE BANCORP
CONSOLIDATED BALANCE SHEETS
($ in thousands; Unaudited)
3/31/2026 12/31/2025 3/31/2025
ASSETS
Cash and cash equivalents
Cash and due from banks
$ 6,292 $ 12,082 $ 8,155
Interest-bearing deposits
90,655 151,318 112,117
Total cash and cash equivalents
96,947 163,400 120,272
Investment securities available-for-sale, at fair value
27,629 27,755 30,138
Investment securities held-to-maturity, at cost
9,388 9,927 12,008
Strategic Program loans held-for-sale, at lower of cost or fair value 133,907 146,473 118,769
Loans held-for-investment, net
539,157 541,551 472,402
Credit enhancement asset 23,378 22,411 195
Assets subject to operating leases, net 11,692 12,575 10,767
Deferred taxes, net
2,215 2,345 290
Other assets
55,127 50,698 39,288
Total assets
$ 899,440 $ 977,135 $ 804,129
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits
Noninterest-bearing
$ 127,223 $ 168,442 $ 123,322
Interest-bearing
547,633 586,119 482,437
Total deposits
674,856 754,561 605,759
Other liabilities
27,977 29,379 21,009
Total liabilities
702,833 783,940 626,768
Shareholders’ equity
Common stock
14 14 13
Additional paid-in-capital
61,702 60,958 57,548
Retained earnings
134,847 132,197 119,781
Accumulated other comprehensive income, net of tax
44 26 19
Total shareholders’ equity
196,607 193,195 177,361
Total liabilities and shareholders’ equity
$ 899,440 $ 977,135 $ 804,129
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FINWISE BANCORP
CONSOLIDATED STATEMENTS OF INCOME
($ in thousands, except per share amounts; Unaudited)
Three Months Ended
3/31/2026 12/31/2025 3/31/2025
Interest income
Interest and fees on loans
$ 32,072 $ 28,915 $ 17,155
Interest on securities
339 349 390
Other interest income
1,130 970 991
Total interest income
33,541 30,234 18,536
Interest expense
Interest on deposits
5,451 5,666 4,256
Total interest expense
5,451 5,666 4,256
Net interest income
28,090 24,568 14,280
Provision for credit losses
10,581 17,712 3,336
Net interest income after provision for credit losses
17,509 6,856 10,944
Non-interest income
Strategic Program fees
5,702 5,477 4,962
Gain on sale of loans, net
1,452 2,190 846
SBA loan servicing fees, net
158 4 178
Change in fair value on investment in BFG
(200) 400 400
Interchange income 703 310 —
Credit enhancement income 5,864 12,801 85
Other miscellaneous income
948 1,100 1,339
Total non-interest income
14,627 22,282 7,810
Non-interest expense
Salaries and employee benefits
11,038 11,157 9,826
Professional services
880 899 907
Occupancy and equipment expenses
425 434 543
Credit enhancement servicing expense 2,429 961 2
Credit enhancement guarantee expense
10,098 6,724 11
Other operating expenses
3,468 3,476 3,029
Total non-interest expense
28,338 23,651 14,318
Income before income taxes
3,798 5,487 4,436
Provision for income taxes
1,063 1,572 1,247
Net income
$ 2,735 $ 3,915 $ 3,189
Earnings per share, basic
$ 0.21 $ 0.29 $ 0.24
Earnings per share, diluted
$ 0.20 $ 0.27 $ 0.23
Weighted average shares outstanding, basic
13,019,369 12,952,200 12,716,155
Weighted average shares outstanding, diluted
13,642,166 13,635,186 13,483,647
Shares outstanding at end of period
13,706,693 13,655,961 13,216,903
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FINWISE BANCORP
AVERAGE BALANCES, YIELDS, AND RATES
($ in thousands; Unaudited)
Three Months Ended
3/31/2026 12/31/2025 3/31/2025
Average Balance Interest Average Yield/Rate Average Balance Interest Average Yield/Rate Average Balance Interest Average Yield/Rate
Interest-earning assets:
Interest-bearing deposits
$ 124,353 $ 1,130 3.68 % $ 101,074 $ 970 3.81 % $ 92,794 $ 991 4.33 %
Investment securities
37,428 339 3.68 % 38,124 349 3.64 % 42,314 390 3.74 %
Strategic Program loans held-for-sale
124,635 5,315 17.29 % 119,139 5,765 19.20 % 79,612 4,264 21.72 %
Loans held-for-investment
596,385 26,757 18.20 % 594,967 23,150 15.44 % 485,780 12,891 10.76 %
Total interest-earning assets
882,801 33,541 15.41 % 853,304 30,234 14.06 % 700,500 18,536 10.73 %
Noninterest-earning assets
66,275 66,770 54,184
Total assets
$ 949,076 $ 920,074 $ 754,684
Interest-bearing liabilities:
Demand
$ 80,662 $ 667 3.35 % $ 76,080 $ 663 3.46 % $ 76,403 $ 670 3.56 %
Savings
10,447 28 1.09 % 11,507 47 1.62 % 9,247 7 0.30 %
Money market accounts
24,447 214 3.55 % 20,990 193 3.64 % 17,884 163 3.70 %
Certificates of deposit
450,196 4,542 4.09 % 458,838 4,763 4.12 % 326,920 3,416 4.24 %
Total deposits
565,752 5,451 3.91 % 567,415 5,666 3.96 % 430,454 4,256 4.01 %
Other borrowings
— — — % — — — % 48 — 0.35 %
Total interest-bearing liabilities
565,752 5,451 3.91 % 567,415 5,666 3.96 % 430,502 4,256 4.01 %
Noninterest-bearing deposits
145,917 129,063 119,501
Noninterest-bearing liabilities
42,982 32,738 29,644
Shareholders’ equity
194,425 190,858 175,037
Total liabilities and shareholders’ equity
$ 949,076 $ 920,074 $ 754,684
Net interest income and interest rate spread
$ 28,090 11.50 % $ 24,568 10.10 % $ 14,280 6.72 %
Net interest margin
12.90 % 11.42 % 8.27 %
Ratio of average interest-earning assets to average interest-bearing liabilities
156.04 % 150.38 % 162.72 %
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Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
Efficiency ratio
Three Months Ended
($ in thousands)
3/31/2026 12/31/2025 3/31/2025
Non-interest expense $ 28,338 $ 23,651 $ 14,318
Net interest income 28,090 24,568 14,280
Total non-interest income 14,627 22,282 7,810
Adjusted operating revenue
$ 42,717 $ 46,850 $ 22,090
Efficiency ratio 66.3 % 50.5 % 64.8 %
The following table presents the impact of the credit enhancement program on our efficiency ratio:
Adjusted efficiency ratio
Three Months Ended
($ in thousands)
3/31/2026 12/31/2025 3/31/2025
Non-interest expense (GAAP)
$ 28,338 $ 23,651 $ 14,318
Less: credit enhancement program expenses
12,526 7,685 13
Adjusted non-interest expense 15,812 15,966 14,305
Net interest income (GAAP)
28,090 24,568 14,280
Less: credit enhancement program expenses
12,526 7,685 13
Adjusted net interest income 15,564 16,883 14,267
Total non-interest income (GAAP) 14,627 22,282 7,810
Less: credit enhancement income 5,864 12,801 85
Adjusted non-interest income
8,763 9,481 7,725
Adjusted operating revenue
$ 24,327 $ 26,364 $ 21,992
Adjusted efficiency ratio
65.0 % 60.6 % 65.0 %
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FinWise has entered into agreements with certain of its Strategic Program service providers pursuant to which they provide credit enhancement on loans which protects the Bank by indemnifying or reimbursing the Bank for incurred credit and fraud losses. We estimate and record a provision for expected losses for these Strategic Program loans in accordance with GAAP, which requires estimation of the provision without consideration of the credit enhancement. When the provision for expected losses over the life of the loans that are subject to such credit enhancement is recorded, a credit enhancement asset reflecting the future recovery of those estimated credit losses pursuant to the strategic partner’s guarantee to assume the Bank’s credit losses on each of the loans in the respective guaranteed portfolio is also recorded on the balance sheet in the form of non-interest income (credit enhancement income). Reimbursement or indemnification for incurred losses is provided for in the form of a deposit reserve account that is replenished periodically by the respective Strategic Program service provider. The credit enhancement asset is reduced as credit enhancement payments and recoveries are received from the Strategic Program service provider or taken from its cash reserve account. If the Strategic Program service provider is unable to fulfill its contracted obligations under its credit enhancement agreement, then the Bank could be exposed to the loss of the reimbursement and credit enhancement income as a result of this counterparty risk. In the event the Strategic Program service provider is not able to perform according to the contractual terms, the Bank is entitled to receive all the income on the loans. The Bank incurs expenses for the amounts owed to the strategic partner for the credit guarantee and for servicing of the credit enhanced portfolio, if applicable (credit enhancement program expenses). See the following reconciliations of GAAP to non-GAAP measures for the impact of the credit enhancement on our financial condition and results. Note that these amounts are supplemental and are not a substitute for an analysis based on GAAP measures.
The following non-GAAP measures are presented to illustrate the impact of certain credit enhancement program expenses on total interest income on loans held-for-investment and average yield on loans held-for-investment:
As of and for the Three Months Ended As of and for the Three Months Ended As of and for the Three Months Ended
($ in thousands; unaudited)
3/31/2026 12/31/2025 3/31/2025
Total Average Loans HFI
Total Interest Income on Loans HFI
Average Yield on Loans HFI
Total Average Loans HFI
Total Interest Income on Loans HFI
Average Yield on Loans HFI
Total Average Loans HFI
Total Interest Income on Loans HFI
Average Yield on Loans HFI
Before adjustment for credit enhancement $ 596,385 $ 26,757 18.20 % $ 594,967 $ 23,150 15.44 % $ 485,780 $ 12,891 10.76 %
Less: credit enhancement program expenses
(12,526) (7,685) (13)
Net of adjustment for credit enhancement program expenses
$ 596,385 $ 14,231 9.68 % $ 594,967 $ 15,465 10.31 % $ 485,780 $ 12,878 10.76 %
Total interest income on loans held-for-investment net of credit enhancement program expenses and the average yield on loans held-for-investment net of credit enhancement program expenses are non-GAAP measures that include the impact of credit enhancement program expenses on total interest income on loans held-for-investment and the respective average yield on loans held-for-investment, the most directly comparable GAAP measures.
The following non-GAAP measures are presented to illustrate the impact of certain credit enhancement program expenses on net interest income and net interest margin:
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As of and for the Three Months Ended As of and for the Three Months Ended As of and for the Three Months Ended
3/31/2026 12/31/2025 3/31/2025
($ in thousands; unaudited)
Total Average Interest-Earning Assets Net Interest Income Net Interest Margin Total Average Interest-Earning Assets Net Interest Income Net Interest Margin Total Average Interest-Earning Assets Net Interest Income Net Interest Margin
Before adjustment for credit enhancement $ 882,801 $ 28,090 12.90 % $ 853,304 $ 24,568 11.42 % $ 700,500 $ 14,280 8.27 %
Less: credit enhancement program expenses
(12,526) (7,685) (13)
Net of adjustment for credit enhancement program expenses $ 882,801 $ 15,564 7.15 % $ 853,304 $ 16,883 7.85 % $ 700,500 $ 14,267 8.27 %
Net interest income and net interest margin net of credit enhancement program expenses are non-GAAP measures that include the impact of credit enhancement program expenses on net interest income and net interest margin, the most directly comparable GAAP measures.
Non-interest expenses less credit enhancement program expenses is a non-GAAP measure presented to illustrate the impact of credit enhancement program expenses on non-interest expense:
($ in thousands; unaudited)
Three Months Ended March 31, 2026
Three Months Ended December 31, 2025
Three Months Ended March 31, 2025
Total non-interest expense $ 28,338 $ 23,651 $ 14,318
Less: credit enhancement program expenses
(12,526) (7,685) (13)
Total non-interest expense less credit enhancement program expenses $ 15,812 $ 15,966 $ 14,305
Total non-interest expense less credit enhancement program expenses is a non-GAAP measure that illustrates the impact of credit enhancement program expenses on non-interest expense, the most directly comparable GAAP measure.
Total non-interest income less credit enhancement income is a non-GAAP measure to illustrate the impact of credit enhancement income resulting from credit enhanced loans on non-interest income:
($ in thousands; unaudited)
Three Months Ended March 31, 2026
Three Months Ended December 31, 2025
Three Months Ended March 31, 2025
Total non-interest income $ 14,627 $ 22,282 $ 7,810
Less: credit enhancement income (5,864) (12,801) (85)
Total non-interest income less credit enhancement income $ 8,763 $ 9,481 $ 7,725
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Total non-interest income less indemnification income is a non-GAAP measure that illustrates the impact of credit enhancement income on non-interest income. The most directly comparable GAAP measure is non-interest income.
The following non-GAAP measure is presented to illustrate the effect of the credit enhancement program that creates the credit enhancement on the allowance for credit losses:
($ in thousands; unaudited)
As of March 31, 2026
As of December 31, 2025
As of March 31, 2025
Allowance for credit losses $ 37,973 $ 36,796 $ 14,235
Less: allowance for credit losses related to credit enhanced loans (23,378) (22,411) (195)
Allowance for credit losses excluding the effect of the allowance for credit losses related to credit enhanced loans $ 14,595 $ 14,385 $ 14,040
The allowance for credit losses excluding the effect of the allowance for credit losses related to credit enhanced loans is a non-GAAP measure that reflects the effect of the credit enhancement program on the allowance for credit losses. The total outstanding balance of loans held-for-investment with credit enhancement as of March 31, 2026, December 31, 2025 and March 31, 2025 was approximately $109.1 million, $108.1 million and $1.3 million, respectively.
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finw_investorxpresentati
April 2026
2 Disclaimers "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to, among other things, the Company’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “believe,” “expect,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “projection,” “forecast,” “budget,” “goal,” “target,” “would,” “aim” and “outlook,” or similar expressions generally indicate a forward- looking statement. These forward-looking statements are based on management assumptions and involve risks and uncertainties that are subject to change based on various important factors, some of which are beyond the Company’s control. Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause the Company’s actual results to differ materially from those indicated in these forward-looking statements, including: the success of the financial technology and banking-as-a-service (“BaaS”) industries, as well as the continued evolution of the regulation of these industries; the Company’s ability to maintain and grow its relationships with its service providers and reliance on such providers to comply with regulatory regimes; the Company’s ability to keep pace with rapid technological changes in the industry or implement new technology effectively; ability to effectively manage and remediate system failure or cybersecurity breaches of the Company’s network security; the Company’s ability to measure and manage its credit risk effectively and any deterioration of the business and economic conditions in the Company’s primary market areas; the adequacy of the Company’s allowance for credit losses; changes in Small Business Administration rules, regulations and loan products and the existing regulatory framework for brokered deposits; higher inflation and its impacts; the effects of changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs on its trading partners; the value of collateral securing the Company’s loans; the Company’s levels of nonperforming assets; the potential for negative consequences resulting from regulatory violations, investigations and examinations, including potential supervisory actions, the assessment of fines and penalties, the imposition of sanctions, the need to undertake remedial actions and possible damage to the Company’s reputation; natural disasters and adverse weather, acts of terrorism, pandemics, an outbreak of hostilities or other international or domestic calamities, including the ongoing conflicts in Iran and Middle East that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, and increase the volatility of financial markets; anticipated benefits of new lines of business that the Company may enter or investments or acquisitions the Company may make that are not realized within the expected time frame or at all; further negative ratings outlooks or downgrades of the long-term credit rating of the United States; and the ongoing government shutdown and other political impasses, including with respect to the debt ceiling and the federal budget of the United States. The Company cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review the Company’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. The Company does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by the Company or by or on behalf of the Company, except as may be required under applicable law. Market and industry data This presentation includes estimates regarding market and industry data. Certain information is based on management estimates, which have been derived from third-party sources, as well as data from our internal research. While we believe the estimated market and industry data included in this presentation is generally reliable as of the date of the presentation, such information, which is derived in part from management’s estimates and beliefs, has not been independently verified and we make no representation as to the adequacy, fairness or completeness of any information obtained from third party sources. Non-GAAP financial measures Some of the financial measures included in this presentation are not measures of financial performance recognized by generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures are “tangible shareholders’ equity,” “tangible book value per share,” and “efficiency ratio.” We believe these non-GAAP financial measures provide useful information to management and investors; however, we acknowledge that our non-GAAP financial measures have limitations and should be considered a supplement to, not a substitute for, the GAAP financial measure. As such, you should not view these measures as a substitute for results determined in accordance with GAAP. A reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the Appendix to this presentation. Trademarks “FinWise” and its logos and other trademarks referred to and included in this presentation belong to us and are protected by applicable laws. We refer to our trademarks in this presentation without the ® or the ™ or symbols for convenience. Other service marks, trademarks and trade names referred to in this presentation, if any, are the property of their respective owners, although for presentational convenience we may not use the ® or the ™ symbols to identify such trademarks. Certain Terms In this presentation, we use certain defined terms and terms understood within the banking sector and industry. A Glossary of Terms Used is included in the Appendix to this presentation.
First Quarter 2026 Highlights 3
Quarterly Results 4 1 Credit Enhanced Lending program fully launched mid-2025. Provision for credit losses has increased due to higher Credit Enhanced balances. For credit enhanced loans, fintech partners are required to maintain a deposit account at FinWise, which is used to recover charge-offs. The provision for credit losses on these loans differs from the core portfolio, as it is fully offset by expected recoveries under the partner guarantee, which is recognized as credit enhancement income in non-interest income. Note: 4Q25 Net Income impacted by an increase in net-charge offs, in part stemming from a refinement of our servicing and administration standards. This resulted in a higher provision for credit losses on our traditional banking portfolio, which negatively impacted our 4Q25 net income by $1.1 million after tax. As of and for the Three Months Ended 3/31/2026 12/31/2025 3/31/2025 Income Statement Data ($ in thousands) Net interest income $ 28,090 $ 24,568 $ 14,280 Total non-interest income 14,627 22,282 7,810 Total operating revenue 42,717 46,850 22,090 Provision for credit losses (Core Portfolio + Credit Enhanced) 1 10,581 17,712 3,336 Total non-interest expense 28,338 23,651 14,318 Income before income taxes 3,798 5,487 4,436 Provision for income taxes 1,063 1,572 1,247 Net income 2 $ 2,735 $ 3,915 $ 3,189 Earnings per share, diluted $ 0.20 $ 0.27 $ 0.23 Balance Sheet Data ($ in thousands) Total cash and cash equivalents $ 96,947 $ 163,400 $ 120,272 Strategic program loans held-for-sale 133,907 146,473 118,769 Loans held-for-investment 539,157 541,551 472,402 Credit enhancement asset 23,378 22,411 195 All other assets 106,052 103,300 103,300 Total assets $ 899,440 $ 977,135 $ 804,129 Total deposits 674,856 754,561 605,759 All other liabilities 27,977 29,379 21,009 Total liabilities $ 702,833 $ 783,940 $ 626,768 Total shareholders' equity $ 196,607 $ 193,195 $ 177,361 Selected Financial Data ($ in thousands, except TBVps) Amount of loans originated $ 1,745,428 $ 1,561,310 $ 1,264,604 Credit enhanced balances $ 109,081 $ 108,131 $ 1,285 Return on average assets (annualized for quarters) 1.2 % 1.7 % 1.7 % Return on average equity (annualized for quarters) 5.7 % 8.1 % 7.4 % Net interest margin 12.90 % 11.42 % 8.27 % Efficiency ratio 66.3 % 50.5 % 64.8 % Tangible book value per share $ 14.34 $ 14.15 $ 13.42
FinWise Overview Differentiated Business Model • Resilient and profitable model with compelling growth opportunities • Compliance oversight and risk management culture • Lower risk loan portfolio with disciplined underwriting and collateral management: • 47% of portfolio at 1Q26 is SBA Guaranteed, Strategic Program HFS and Strategic Program HFI with Credit Enhancement 1 • Credit Enhanced Lending2 product incorporates a fintech financed loss reserve account structured to absorb credit losses • Well capitalized significantly above regulatory requirement • Highly experienced team with proved track record 1SBA Guaranteed loans are guaranteed by U.S Small Business Administration; Strategic Program Loans (HFS) are supported by reserve deposit accounts and are typically cash-collateralized and held for less than one week; for Strategic Program HFI Loans with Credit Enhancement, FinWise is fully reimbursed for any associated losses, as each fintech partner maintains a cash reserve deposit at FinWise, which is used to absorb these charge-offs. 2See Glossary slide at end of presentation for definition of Credit Enhanced Lending. 5 • Banking and Payments Solutions for Fintechs: • Strategic Program Lending. Through our scalable API-driven infrastructure • Credit Enhanced Lending2. Generates lower risk asset growth (fintech required to hold a Loss Reserve Account at FinWise) and interest income • Payments (MoneyRailsTM) and BIN Sponsorship. Cross-sell products to generate lower-cost deposits and fee income • Traditional Lending. Provides flexibility for disciplined and diversified balance sheet growth: • SBA 7(a), including SBA guaranteed loans • Residential and owner occupied CRE • Equipment leasing programs Key Products
A Proven Growth Story 6 Note: Bank-level regulatory data used for Total Assets from 2010 - 2017 and is publicly available per FinWise Bank call reports (https://cdr.ffiec.gov/public/ManageFacsimiles.aspx) and through S&P Global Market Intelligence. *Data shown on an annual basis; more recent quarterly results are available elsewhere in this deck or in the Company's publicly available financial disclosures.
Our Culture - Strong Compliance and Risk Management 7 Consistent Investment in Personnel & Infrastructure Provides Regulatory Oversight Support to Fintechs Note: FTEs shown as of the end of each respective quarter; does not include FTEs in Governance and Operations. 73 (or 35%) of our 210 FTEs at the end of 1Q26 are in IT, Compliance, Risk Mgmt., and BSA functions
Equipment Leasing Programs Balance Sheet Strategy: • Originate for Investment • Originations through vendor finance, additional third-party originators, direct channels • Diversify balance sheet Fintech Banking & Payments Solutions (includes Strategic Program and Credit Enhanced Lending) Balance Sheet Strategy: • Mostly originate to sell • Interest Income HFI & HFS • Minimum program & other fees • Programs establish a “reserve” deposit account with FinWise • Credit Enhanced Lending SBA 7(a) Balance Sheet Strategy: • Hold or sell guaranteed portion • Retain all servicing rights when guaranteed portion is sold • Leverage relationship with Business Funding Group, LLC for acquiring customers Residential & Owner Occupied CRE Balance Sheet Strategy: • Originate for Investment • Source of core deposits • High-touch, relationship banking • Historically stable and strong profitability Revenue Contribution by Product (ex-Payments & BIN) 1Q26 Gross Revenue Contribution1 1Does not include revenue from POS Lending Program which is an originate to hold strategy, “Other”, “Change in Fair Value on investment in BFG”, "Credit Enhanced", and revenue generated by non-lending activities. Note: SBA Guaranteed loans are guaranteed by U.S Small Business Administration; Strategic Program Loans (HFS) are supported by reserve deposit accounts. 64.5% 8.1% 5.6% 8 4.2% Differentiated and Proven Strategy Offers Solid Foundation for Future Growth As of 3/31/26: • Strategic Platform Loans on Bal. Sheet: $263.8M (50.8% HFS; 49.2% HFI) • 1Q26 Gain on Sale (net) and Strategic Program Fees: $5.8 million or 40.0% of non- interest income As of 3/31/26: • SBA Loans on Bal. Sheet: $202.4 (47.0% Guaranteed; 53.0% Unguaranteed) Product Overview: • Consumer and commercial lending • Construction lending focus on single-family residential Product Overview: • Equipment secured leases/ loans • Interest bearing (generally 60-month fixed rates) • "Aurora" loan origination system provides scalability and automation Target Customer: • Consumers and small to medium-sized businesses (SMBs) via Fintech Platforms Target Customer: • SMBs Target Customer: • Single family residential and SMBs Target Customer: • SMBs via Equipment point of sale TRADITIONAL LENDING PRODUCTS
Strategic Program Lending Overview: Roles of the Bank and Fintech 9 Loan Applications and Approvals Adhere to Credit Models Established by FinWise
Strategic Program Lending - Program Diversification Has Improved Note: Strategic Program Lending concentration shown since 1Q22 to highlight longer-term pattern in recent years 10
11 Select Fintech Brands We Currently Support Note: Upstart, Elevate, Reach and FUTR PAYMENTS (formerly Hank Payments) are not on MoneyRailsTM, but FinWise does handle Payment Processing for them. Growth Opportunity With Existing Fintechs And As New Programs Are Onboarded Program Launch Timeline Strategic Program Lending • Launched: 2016 Credit Enhanced Lending • Launched: mid-2025 (full launch) Payments (MoneyRails) • Launched: mid-2025 BIN Sponsorship (Cards) • Launched: late 2023
Growth Strategy: A Broader Fintech Solutions Offering 1SBA 7(a) includes Guaranteed and Unguaranteed loans; Guaranteed loans are guaranteed by U.S Small Business Administration. Note: "Fintech Solutions" is used to describe our target market within the banking-as-a-service ecosystem. 12 Strategic Program Lending (SPL) SBA 7(a)1 Equipment Financing BIN Sponsorship Strategic Program Lending (SPL) + Credit Enhancement SBA 7(a)1 Equipment Financing Payments (MoneyRails™)
Growth Strategy: Potential Long-term Benefits from Broader Fintech Solutions Offering Revenue Expand and diversify sources of revenue Deposits Diversify deposit composition and reduce cost of funds Credit Quality Increase Prime loan exposure Profitability Enhance profitability and oper. leverage via lower cost of funds and use of outsourced solutions Note: "Potential Long-term Benefits" describe the Company's expectations of potential benefits to the overall FinWise business model 13
Credit Enhanced Lending - A Lower Risk Product 1The fintech partner refers the borrower through joint marketing efforts, and FinWise originates the loan. 14
MoneyRailsTM Overview and Map of Services 15 MoneyRailsTM is an Award Winning, Proprietary, Centralized, Secure Platform and Ledger that Facilitates Money Movement • Highly secured platform built on ZeroTrust architecture, and based on an immutable ledger of transactions • The Ledger provides a strong foundation with controls, standing instructions and connectors for third-party integrations • Fintechs can build their own experience using APIs without dependency on FinWise • Provides tokenized and virtual card servicing capabilities, which enables incoming/ outgoing payments and card mgmt. to be housed in a central hub 1 Cards will be available in 2H 2026. NOTE: Currently Live: Ledgering, ACH, RTP, FedNow, Wires, RPPS, File-based support, KYC/KYB Connector, API enabled, Fraud Monitoring
16 Interest Income • Monthly fee driven by originated loan volume • On loans held for a few days before sold and on extended held for sale loans • On loans held for investment • Incorporated in Strategic Program Lending monthly fee • Contractual interest earned on loans maintained on our bal. sheet • Note: payments to Fintechs of excess spread are mostly expensed. Also, fintechs are required to hold a deposit acct. at FinWise against which charge-offs are recovered, trued up monthly post charge-offs • Monthly fees (including Acct. Mgmt. fees) • Transaction Fees (ACH, Wires, Real Time, etc.) • None • Note: lower cost deposits generated help NII • Monthly fees driven by dollar volume spent • On receivables held for a few days before sold • On receivables held for investment • Monthly fees driven by dollar volume spent • None • Note: lower cost deposits generated help NII • Gain on sale of loans (SBA 7a) • Traditional interest income 1 As part of Credit Enhanced Lending agreement, Fintech is required to hold a Loss Reserve Account at FinWise. The provision for credit losses associated with the credit enhanced loan portfolio is different from core portfolio provisions because it's fully offset by the recognition of future recoveries pursuant to the partner guarantee of an exact amount described as credit-enhancement income in our non-interest income. 2MoneyRailsTM enhances fee revenue opportunity in SPL and Cards. 3SBA Guaranteed loans are guaranteed by U.S Small Business Administration and Strategic Program Loans (HFS) are supported by reserve deposit accounts. A Deeper Dive Into Our Diversified Revenue Model Strategic Program Lending to Fintechs Payments (MoneyRails™)2 Credit Cards Traditional Lending (SBA 7(a)3, Residential & Owner Occupied CRE, Equipment Financing) Credit Enhanced Lending1 (part of Strategic Program Lending to Fintechs) Prepaid & Debit Cards Type of Revenue Generated by Product BIN Sponsorships: Net Interest Income (NII)Fee Income
Components of Model Enable Scaling and Regulatory Oversight Our Technology:Product: Enterprise Data Warehouse -Proprietary and rigorous regulatory process -FinWise controls the data internally Lending programs, including closed and open-ended consumer and commercial • Verify borrower information • Validate loans to models and underwriting criteria, and originate API 2) Payments (MoneyRailsTM) Payments (MoneyRailsTM) ACH, SDA, TCH RTP, FedNow, Wire, Visa Direct and Mastercard Send, Mastercard RPPS • Rules-based money movement configurations and restrictions • Verification, validation and capture of necessary oversight data API 3) BIN Sponsorship Card Processors Credit and Charge Cards Debit cards; prepaid • Capture daily cardholder financial activity and bank-defined data sets necessary for oversight and testing of regulatory compliance Data 17 1) Strategic Program Lending Credit Engine
Intensive Due-Diligence Process and Compliance Assessment Representative Fintech Onboarding - a Thorough Selection Process Including: 18
Disciplined Underwriting Process Mitigates Risk... • Credit risk is managed through combination of policy, data and pricing • Disciplined underwriting process and well collateralized portfolio has helped mitigate net charge-offs, even as credit quality normalized due to an elevated interest rate environment • Remain well-reserved: ACL/Total Gross Loans HFI of 6.5% at end of 1Q26. • SBA guaranteed balances as % of Total Gross Loans HFI have declined as we continue to sell guaranteed portions of SBA loans due to favorable market conditions • Strategic Programs HFI balances as % of Total Gross Loans HFI, have increased partly driven by higher Credit Enhanced balances • *Provision for loan losses and net charge-offs have increased partly due to higher Credit Enhanced balances. The provision for credit losses on these loans differs from the core portfolio, as it is fully offset by expected recoveries under the partner guarantee, recognized as credit enhancement income in non-interest income. For Strategic Program (SP) loans with credit enhancement, FinWise is fully reimbursed for any net charge-offs, as fintech partners are required to maintain a deposit account at FinWise, which is used to recover these charge-offs. 19*For SP loans with credit enhancement, FinWise is fully reimbursed for any net charge-offs, as each fintech partner is required to maintain a deposit account at FinWise, which is used to recover these charge-offs. The provision for credit losses on these loans differs from the core portfolio, as it is fully offset by expected recoveries under the partner guarantee, which is recognized as credit enhancement income in non-interest income. ^During 4Q25, we further refined our servicing and administrative standards, which resulted in accelerated classification of certain loans to nonperforming status and earlier recognition of related charge-offs. *ACL = Allowance for Credit Losses; SP = Strategic Programs; HFI = Held for Investment.
...and Leads to a Diversified and Lower Risk Loan Portfolio Key Quarterly Trends: • Combined SBA Guaranteed, Strategic Program Loans Held-for-Sale (HFS) and Strategic Programs (HFI) with Credit Enhancement comprised a total of 47% of the portfolio as of 1Q26. ◦ These products carry lower credit risk: SBA Guaranteed loans are guaranteed by the U.S Small Business Administration, Strategic Program Loans (HFS) are supported by reserve deposit accounts, and with Strategic Program Loans (HFI) with Credit Enhancement, FinWise is fully reimbursed for any losses, as each fintech partner is required to maintain a cash reserve deposit at FinWise, which is used to recover these charge-offs. • SBA Unguaranteed loans declined from 15.7% of the portfolio as of 1Q25 to 14.9% as of 1Q26 - while the absolute dollar amount of these loans remained relatively stable, the decline as a percent of the portfolio is primarily attributable to overall balance sheet grown, especially in Credit Enhanced loans. • SBA Guaranteed balances have declined as we continue to sell amounts of the guaranteed portion of SBA loans. 20 1Total Loans includes Held for Investment (HFI) and Held for Sale (HFS). NOTE: Commercial (Non RE) is mostly Equipment Leasing. Portfolio Characteristics: • SBA: Average FICO is 740+. Average time in business is 12+ years. Top 3 industries by Unguaranteed balances: eCommerce, Law Firms and Health Care. Note: Our SBA loss rate has been approximately 74% lower than the SBA 7(a) industry for all originations since 2014. • CRE Non-SBA (12.3% as of 1Q26) is 97.7% Owner Occupied
Deposit Composition 21 Total Period End Deposits: $674.9 Million (as of March 31, 2026) Opportunity to enhance profitability by gradually diversifying deposit composition away from higher-cost CDs and reducing cost of funds Note: Deposits declined Q/Q as excess funds were not required to support a lower level of assets.
Industry Recognition as a Top-Performing Bank 22 FinWise Bancorp ranked in top 3 on American Banker's annual list of Top-Performing Publicly Traded Banks with under $2 billion of assets (based on 3-year average ROAE ending 12/31/23) 2022 2023 2022 2023 20242024 Source: https://www.independentbanker.org/article/2024/05/01/icba%27s-best-performing-banks-of-2024; https://www.americanbanker.com/list/the-20-top-performing-publicly-traded-banks-with-under-2b-of-assets FinWise Bancorp ranked #1 in its respective class (for the 3rd year in a row) for Best Performing Banks (based on 3-year average pre-tax ROA) FinWise Bank was ranked as one of the 50 fastest growing companies in Utah based on revenue growth over five years. 2022 2023 2024
Selected Financial Information 23
Consistent TBV Growth Ahead of Peers Has Delivered Strong Shareholder Value Tangible Book Value Per Share (Non-GAAP)1 24 1See Appendix at end of presentation for full description of metric and Non-GAAP reconciliation. Amounts are as of the end of each respective period. Indexed percentage change is calculated based on total TBV, not TBV per share. FinWise Bancorp began trading under the symbol "FINW" on the NASDAQ exchange on 11/19/21. 2 Bank Peers defined as: Oregon Bancorp, Inc., Quaint Oak Bancorp, Inc., University Bancorp, Inc., BayFirst Financial Corp., CF Bankshares Inc., Meridian Corporation, Coastal Financial Corporation, Capital Bancorp, Inc., FS Bancorp, Inc., Blue Ridge Bankshares, Inc., First Internet Bancorp, Nicolet Bankshares, Inc., Triumph Financial, Inc., Live Oak Bancshares, Inc., Merchants Bancorp, The Bancorp, Inc., Cross River Bank, Metropolitan Bank Holding Corp., Capital Community Bank. 3Fintech Peers defined as Atlanticus Holdings Corporation, Oportun Financial Corporation, LendingClub Corporation, Pathward Financial, Inc. Note: Bank level Call Report financial data used where holding company consolidated financials unavailable; 4Q 2025 financial data used where 1Q 2026 holding company consolidated and bank level Call Report financials are unavailable Source: S&P Capital IQ Pro Indexed Change in Total TBV Since the End of Q4211 vs Select Bank2 and Fintech Peers3
Solid Originations and Significant Balance Sheet Growth 25 1Originations will reflect seasonality from our largest student lending partner during peak student borrowing months. 2HFI = Held for Investment. Y/Y percentages reflect rounding. 3Q/Q decline in Total Assets was primarily due to decreases in interest-bearing cash deposits, loans held-for-sale and loans-held-for-investment. Total Deposits declined Q/Q as excess funds were not required to support a lower level of assets. Note: Total Loan Originations are for the quarterly period. Other amounts are as of the end of each respective period.
Growing TBVps and Sustained Historical Profitability 26 1See Appendix for more information and Non-GAAP reconciliation. Tangible Book Value per Share (Non-GAAP) as of the end of each respective period. 1Q26 Net Income impacted by lower gain-on-sale, reflecting elevated levels in the prior quarter following the reopening of the government shutdown, as well as an increase in net-charge-offs. ROAE partly impacted by intentionally maintained high capital levels.
Diversified Income Sources 27 1For accounting purposes, Credit Enhancement Income is fully offset by a corresponding credit loss provision related to credit enhanced balances, thus not having a net effect on the Company's net income. 2All Other Non-interest Income includes all other non-interest income items, excluding Strategic Program Fees and Credit Enhancement Income. Net Interest Income and Net Interest Margin (NIM) are impacted by lending activities including growth in the Credit Enhanced portfolio
Disciplined Expense Management (adjusting for Credit Enhancement Expense) Increase in total non-interest expense in 1Q26 and 4Q25 mostly due to increases in Credit Enhancement Servicing and Guarantee Expense resulting from growth in credit enhanced loans. Outlook Commentary: Remain focused on positive operating leverage; Expense growth to be correlated to revenue production. NOTE: reported efficiency ratio was 66.3% in 1Q262. Adjusting for credit enhancement related accounting gross ups to net interest income, non-interest income and non-interest expense, the core efficiency ratio was 65% for 1Q26. 28 1Q25 4Q25 1Q26 Full Time Employees (FTEs) 196 198 210 Efficiency Ratio (Non-GAAP)2 64.8% 50.5% 66.3% 1All Other Non-interest Expense refers to all other expense components within Total Non-interest Expense, excluding Salaries & Employee Benefits and Credit Enhancement Expenses. 2See Appendix at the end of the presentation for Non- GAAP reconciliation
Well Capitalized Above Regulatory Requirements 29 Note: data as of the end of each respective period. 1On April 23, 2026, the Federal Reserve, FDIC, and OCC jointly adopted a final rule lowering the CBLR requirement from 9% to 8%, effective July 1, 2026. Capital levels remain well above the recently lowered well-capitalized regulatory requirement of 8%1, pursuant to the Community Bank Leverage Ratio (CBLR) framework adopted by the Bank in 2020.
Appendix 30
Non-GAAP Reconciliations 31 (1) Tangible shareholders’ equity: This measure is not a measure recognized under GAAP and is therefore considered to be a non-GAAP financial measure. Tangible shareholders’ equity is defined as total shareholders’ equity less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholder’s equity to total assets. The Company had no goodwill or other intangible assets as of any of the dates indicated. The Company has not considered loan servicing rights or loan trailing fee asset as intangible assets for purposes of this calculation. As a result, tangible shareholders’ equity is the same as total shareholders’ equity as of each of the dates indicated. (2) Efficiency Ratio: This measure is not a measure recognized under United States generally accepted accounting principles, or GAAP, and is therefore considered to be a non-GAAP financial measure. The efficiency ratio is defined as total non-interest expense divided by the sum of net interest income and non-interest income. The Company believes this measure is important as an indicator of productivity because it shows the amount of revenue generated for each dollar spent. Tangible Shareholders' Equity and Tangible Book Value Per Share As of ($ in thousands, except per share amounts) March 31, 2026 December 31, 2025 March 31, 2025 Total shareholders' equity $ 196,607 $ 193,195 $ 177,361 Goodwill — — — Other intangibles — — — Less: total intangible assets — — — Tangible shareholders' equity1 $ 196,607 $ 193,195 $ 177,361 Tangible book value per share1 $ 14.34 $ 14.15 $ 13.42 Efficiency Ratio For the Three Month Period Ending ($ in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Non-interest expense $ 28,338 $ 23,651 $ 14,318 Net interest income 28,090 24,568 14,280 Non-interest income 14,627 22,282 7,810 Adjusted operating revenue $ 42,717 $ 46,850 $ 22,090 Efficiency ratio2 66.3 % 50.5 % 64.8 %
Non-GAAP Reconciliations (continued) 32 (3) Adjusted Efficiency Ratio: This measure is not a measure recognized under United States generally accepted accounting principles, or GAAP, and is therefore considered to be a non-GAAP financial measure. The adjusted efficiency ratio is defined as total non-interest expense, adjusted for credit enhancement program expenses, divided by the sum of net interest income and adjusted non-interest income, adjusted for credit enhancement income. Adjusted Efficiency Ratio For the Three Month Period Ending ($ in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Non-interest expense (GAAP) $ 28,338 $ 23,651 $ 14,318 Less: credit enhancement program expenses 12,526 7,685 13 Adjusted non-interest expense 15,812 15,966 14,305 Net interest income (GAAP) 28,090 24,568 14,280 Less: credit enhancement interest 12,526 7,685 13 Adjusted net interest income 15,564 16,883 14,267 Total non-interest income (GAAP) 14,627 22,282 7,810 Less: credit enhancement income 5,864 12,801 85 Adjusted non-interest income 8,763 9,481 7,725 Adjusted operating revenue $ 24,327 $ 26,364 $ 21,992 Adjusted efficiency ratio3 65.0 % 60.6 % 65.0 %
Glossary of Terms Used 33 ACH (The Automated Clearing House). Electronic funds-transfer system that facilitates payments in the U.S. and internationally. The ACH is run by Nacha. API (Application Programming Interface). Set of defined rules that enable different applications to communicate with each other. It acts as an intermediary layer that processes data transfers between systems, letting companies open their application data and functionality to external third-party developers, business partners, and internal departments within their companies. Banking-as-a-Service (BaaS). Banking model in which licensed banks integrate their digital banking services directly into the products of other non-bank businesses. This allows non-bank businesses to offer their customers digital banking services such as mobile bank accounts, debit cards, loans and payment services, without needing to acquire a banking license of their own. The bank's system communicates via APIs and webhooks with that of the non-bank's business, enabling the end customer to access banking services directly through the non-bank’s website or app. BIN (Bank Identification Number) Sponsorship. BIN sponsorship allows fintech businesses to quickly gain direct access to the payment processing and card management services provided by the likes of Visa or Mastercard without going through the process of joining a major card scheme. It provides fintechs with quickest way to launch a financial product with a debit, credit or prepaid card attached. Credit Enhanced Lending. FinWise generates interest income from existing and potential new strategic programs through contractual interest earned on loans maintained on the FinWise balance sheet. Fintech strategic programs using this product are required to hold a deposit account at FinWise against which charge-offs are recovered, and which is trued up monthly post any charge-offs. FedNow. The clearing service for financial institutions to provide immediate end-to-end payments to customers. The key difference between this service and the Fed’s previous system is that FedNow will be online 24/7, processing transactions in real time. HFI (Held for Investment). When a reporting entity holds an originated or purchased loan for which it has the intent and ability to hold for the foreseeable future or to maturity or payoff, the loan should be classified as held-for-investment. Loans held for investment are reported on the balance sheet at their amortized cost basis. HFS (Held for Sale). When a reporting entity originates or purchases a loan with the intent to sell the loan to another entity (e.g., a government sponsored enterprise). Mastercard RPPS (Remote Payment and Presentment Service). Mastercard RPPS optimizes electronic bill payment by connecting banks to billers. It offers a single, reliable connection for electronic payment providers to help with fast & secure consumer bill payments. Mastercard Send. Mastercard’s offering in the real-time personal payments arena. Senders can immediately make “push payments” to bank accounts, mobile wallets, prepaid debit cards, or targeted cash- out locations. The sender can initiate a Mastercard Send transaction with just the recipient’s debit card number. MoneyRailsTM is FinWise's Payments hub, which is a single-window platform through which companies can execute all their payments, and issue virtual cards. MoneyRails also provides the ability to safeguard funds in an array of account types: FBO and subaccounts to satisfy FinTechs’ deposit needs, as well as traditional Savings, Checking, Certificate of Deposits, etc. . Payment hubs increase fund control and visibility, reduce the risk associated with numerous fragmented payment processes, and improve overall operating efficiency. NIM: Net Interest Margin SBA 7(a) loans. Small-business loans issued by a private lender and partially backed by the U.S. Small Business Administration. SMBs. Small to medium-sized businesses. Strategic Program Lending - SPL (sometimes referred as Marketplace Lending). Lending predominately done through fintech platforms that connect borrowers with lenders. TBV: Tangible Book Value The Clearing House RTP. A real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. All RTP payments are processed by The Clearing House. When you pay your utility bill for the month using RTP, your bank sends message to network which includes the details of the payment. The Clearing House then processes the message and routes it to utility company's bank, completing the payment. Visa Direct. A type of Original Credit Transaction (OCT) that allows fast and secure payment transfers to customers using their card details. Unlike with other payment methods, where it can typically take up to 24 hours for the funds to be transferred to the customer, Visa Direct transactions normally complete near-instantly.
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Apr. 30, 2026
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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
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Address Line 1 such as Attn, Building Name, Street Name
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Name of the City or Town
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Code for the postal or zip code
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Name of the state or province.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Indicate if registrant meets the emerging growth company criteria.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Securities Act
-Number 7A
-Section B
-Subsection 2
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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
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Two-character EDGAR code representing the state or country of incorporation.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
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-Section 12
-Subsection b-2
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Local phone number for entity.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
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-Section 13e
-Subsection 4c
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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Title of a 12(b) registered security.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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Name of the Exchange on which a security is registered.
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-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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-Publisher SEC
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Trading symbol of an instrument as listed on an exchange.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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