F
Finwise Bancorp
Period
FY 2025
Revenue
—
Net Income
$16.09M
Total Assets
$977.13M
Equity
$193.19M
Shares Out
13.71M
Op. Cash Flow
$-28.42M
Business
FinWise Bancorp is a Utah bank holding company that operates FinWise Bank, a Utah state-chartered bank offering nationwide lending and deposit products. The company originates, sells, or holds loans across four main areas: strategic programs (technology-enabled consumer and commercial loans), SBA 7(a) lending, residential and owner-occupied commercial real estate, and equipment financing. FinWise serves consumers and small businesses nationally and in the Salt Lake City metropolitan area through retail banking, banking-as-a-service partnerships with fintech platforms, and treasury operations.
Summary from 10-K filed 2026-03-23
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and fees on loans | 87 | 69 | 58 | 51 | 49 | |
| Interest on securities | 1 | 897,000 | 338,000 | 208,000 | 47,000 | |
| Other interest income | 4 | 5 | 6 | 1 | 61,000 | |
| Total interest income | 92 | 74 | 65 | 52 | 49 | |
| Interest on deposits | 20 | 15 | 10 | 1 | 1 | |
| Total interest expense | 20 | 15 | 10 | — | — | |
| Net interest income | 72 | 59 | 55 | 51 | 48 | |
| Provision for credit losses | 39 | 12 | 12 | — | — | |
| Net interest income after provision for credit losses | 34 | 47 | 43 | 37 | 40 | |
| Strategic Program fees | 22 | 18 | 16 | 22 | 18 | |
| Gain on sale of loans, net | 6 | 2 | 2 | 14 | 10 | |
| SBA loan servicing fees, net | −156,000 | 1 | 2 | — | — | |
| Change in fair value on investment in BFG | 1 | −625,000 | −600,000 | — | — | |
| Credit enhancement income | 24 | 111,000 | 0 | — | — | |
| Other miscellaneous income | 5 | 2 | 3 | 269,000 | 49,000 | |
| Total non-interest income | 58 | 22 | 21 | 37 | 32 | |
| Salaries and employee benefits | 42 | 35 | 26 | 24 | 22 | |
| Professional services | 4 | 5 | 5 | 5 | 2 | |
| Occupancy and equipment expenses | 2 | 2 | 3 | 2 | 882,000 | |
| Credit enhancement servicing expense | 1 | 1,000 | — | — | — | |
| Credit enhancement guarantee expense | 9 | 8,000 | — | — | — | |
| Other operating expenses | 13 | 11 | 7 | 5 | 4 | |
| Total non-interest expense | 70 | 53 | 41 | 39 | 30 | |
| Income before income taxes | 22 | 17 | 24 | 36 | 42 | |
| Provision for income taxes | 6 | 4 | 6 | 11 | 11 | |
| Net income | 16 | 13 | 17 | 25 | 32 | |
| Earnings per share, basic (in dollars per share) | 1.2 | 0.98 | 1.38 | 1.96 | 3.44 | |
| Earnings per share, diluted (in dollars per share) | 1.13 | 0.93 | 1.33 | 1.87 | 3.27 | |
| Weighted average shares outstanding, basic (in shares) | 13 | 13 | 12 | 13 | 9 | |
| Weighted average number of shares outstanding, diluted (in shares) | 14 | 13 | 13 | 13 | 9 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 12 | 10 | 411,000 | 386,000 | 411,000 | |
| Interest-bearing deposits in other banks (restricted cash of $4.1 million and $3.2 million, respectively) | 151 | 100 | 117 | 100 | 85 | |
| Total cash and cash equivalents | 163 | 109 | 117 | 101 | 86 | |
| Investment securities available-for-sale, at fair value, net of allowance for credit losses of $0, (amortized cost of $27.5 million and $30.0 million, respectively) | 28 | 30 | 0 | — | — | |
| Investment securities held-to-maturity, net of allowance for credit losses of $0, (fair value of $9.0 million and $11.1 million, respectively) | 10 | 13 | 15 | 14 | 11 | |
| Investment in Federal Home Loan Bank (FHLB) stock, at cost | 400,000 | 300,000 | 200,000 | 400,000 | 400,000 | |
| Strategic Program loans held-for-sale, at lower of cost or fair value | 146 | 92 | 48 | 24 | 61 | |
| Loans held-for-investment, net of allowance for credit losses of $36.8 million and $13.2 million, respectively | 542 | 448 | 359 | 224 | — | |
| Credit enhancement asset | 22 | 111,000 | 0 | — | — | |
| Premises and equipment, net | 3 | 4 | — | — | — | |
| Assets subject to operating leases, net of accumulated depreciation of $4.7 million and $2.7 million, respectively | 13 | 10 | — | — | — | |
| Accrued interest receivable | 4 | 4 | 4 | 2 | 2 | |
| Deferred income taxes, net | 2 | 0 | 0 | 1 | 2 | |
| Small Business Administration (SBA) servicing asset, net | 4 | 3 | 4 | 5 | — | |
| Investment in Business Funding Group (BFG), at fair value | 9 | 8 | 4 | 5 | 6 | |
| Operating lease right-of-use (ROU) assets | 3 | 4 | 4 | 5 | 0 | |
| Income taxes receivable, net | 4 | 9 | 2 | 0 | — | |
| Other assets | 25 | 14 | 14 | 10 | 7 | |
| Total assets | 977 | 746 | 586 | 401 | 380 | |
| Noninterest-bearing | 168 | 127 | 95 | 79 | 111 | |
| Interest-bearing | 586 | 418 | 309 | 164 | 141 | |
| Total deposits | 755 | 545 | 405 | 243 | 252 | |
| Accrued interest payable | 3 | 1 | 619,000 | 54,000 | 48,000 | |
| Income taxes payable, net | 837,000 | 4 | 2 | 1 | 233,000 | |
| Deferred income taxes, net | 0 | 899,000 | 748,000 | 0 | — | |
| Operating lease liabilities | 4 | 5 | 6 | 7 | 0 | |
| Other liabilities | 22 | 15 | 17 | 9 | 12 | |
| Total liabilities | 784 | 572 | 431 | 260 | 265 | |
| Commitments and contingencies (Note 9) | — | — | — | — | — | |
| Preferred stock, $0.001 par value, 4,000,000 authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.001 par value, 40,000,000 shares authorized; 13,655,961 and 13,211,640 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 14,000 | 13,000 | 12,000 | 13,000 | 13,000 | |
| Additional paid-in-capital | 61 | 57 | 51 | 55 | 55 | |
| Retained earnings | 132 | 117 | 104 | 86 | 61 | |
| Accumulated other comprehensive income, net of tax | 26,000 | 187,000 | 0 | — | — | |
| Total shareholders equity | 193 | 174 | 155 | 140 | 115 | |
| Total liabilities and shareholders equity | 977 | 746 | 586 | 401 | 380 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 5 | 5 | 4 | 2 | 1 | |
| Provision for credit losses | 39 | 12 | 12 | — | — | |
| Noncash operating lease cost | 601,000 | 729,000 | 748,000 | 2 | — | |
| Net (accretion) amortization in securities (discounts) and premiums | −18,000 | −25,000 | 1,000 | 28,000 | 25,000 | |
| Other | −2 | −269,000 | — | — | — | |
| Gain on sale of loans, net | −6 | −2 | −2 | −14 | −10 | |
| Originations of Strategic Program loans held-for-sale | −5,719 | −4,829 | −4,078 | — | — | |
| Proceeds from sale of Strategic Program loans held-for-sale | 5,665 | 4,785 | 4,054 | 7,011 | 6,295 | |
| Change in fair value of BFG | −1 | 625,000 | 600,000 | — | — | |
| Impairment (recovery) of SBA servicing asset | 924,000 | −865,000 | −376,000 | — | — | |
| Stock-based compensation expense | 4 | 2 | 2 | 778,000 | 2 | |
| Noncash change in credit enhancement asset | −22 | −111,000 | — | — | — | |
| Deferred income taxes | −3 | 90,000 | 2 | 656,000 | −1 | |
| Accrued interest receivable | −141,000 | 7,000 | −2 | −270,000 | 81,000 | |
| Other assets | −6 | −2 | −6 | −299,000 | −2 | |
| Accrued interest payable | 1 | 875,000 | 565,000 | 6,000 | −147,000 | |
| Operating lease liabilities | −894,000 | −994,000 | −724,000 | −360,000 | 0 | |
| Other liabilities | 2 | 1 | 9 | −2 | 6 | |
| Net cash used in operating activities | −28 | −15 | 12 | 61 | −9 | |
| Net increase in loans receivable | −188 | −65 | −115 | −17 | 42 | |
| Purchase of lease pools | −44 | −36 | −30 | — | — | |
| Proceeds from sales of loans held-for-investment | 106 | 529,000 | — | — | — | |
| Proceeds from sales of assets subject to operating leases | 468,000 | 103,000 | — | — | — | |
| Purchase of investment securities available-for-sale | 0 | −30 | 0 | — | — | |
| Purchase of bank premises and equipment, net | −219,000 | −1 | −7 | −7 | −2 | |
| Purchase of assets subject to operating leases | −6 | −4 | — | — | — | |
| Proceeds from maturities of securities available-for-sale | 3 | 0 | — | — | — | |
| Proceeds from maturities and paydowns of securities held-to-maturity | 3 | 3 | 2 | 2 | 678,000 | |
| (Purchase) redemption of FHLB stock | −91,000 | −111,000 | 210,000 | −71,000 | — | |
| Net cash used in investing activities | −127 | −132 | −153 | −36 | 24 | |
| Net increase in deposits | 210 | 140 | 162 | −9 | 87 | |
| Common stock repurchased | 0 | −461,000 | −5 | −1 | 0 | |
| Proceeds from exercise of stock options | 481,000 | 25,000 | 44,000 | 300,000 | 311,000 | |
| Payment of taxes related to net share settlement of equity awards | −516,000 | 0 | — | — | — | |
| Repayment of PPP Liquidity Facility | 0 | −126,000 | −125,000 | — | — | |
| Net cash provided by financing activities | 210 | 140 | 157 | −11 | 23 | |
| Net change in cash, cash equivalents and restricted cash | 54 | −8 | 16 | — | — | |
| Cash paid for interest | 19 | 15 | 9 | 1 | 1 | |
| Increase in BFG investment in exchange for shares of the Company's common stock | 0 | 4 | 0 | — | — |
Filings
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Frequently asked questions
What is Finwise Bancorp's CIK number?
Finwise Bancorp's SEC CIK number is 0001856365 (1856365). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Finwise Bancorp's SEC filings?
All of Finwise Bancorp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Finwise Bancorp last report earnings?
Finwise Bancorp (FINW) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001856365-26-000048). This is Finwise Bancorp's most recent earnings filing of record — not a forecast of its next earnings date.
What is Finwise Bancorp's most recent earnings 8-K?
Finwise Bancorp's latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001856365-26-000048. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Finwise Bancorp's latest earnings 8-K →
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