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FinWise Bancorp Common - FINW STOCK NEWS

Welcome to our dedicated page for FinWise Bancorp Common news (Ticker: FINW), a resource for investors and traders seeking the latest updates and insights on FinWise Bancorp Common stock.

FinWise Bancorp (NASDAQ: FINW) is an independent bank providing a comprehensive range of banking services to both individual and corporate customers. FinWise Bancorp's core business revolves around various forms of lending, including Small Business Administration (SBA) loans, commercial loans, commercial real estate loans, residential real estate loans, and consumer loans. The bank has also developed strategic programs in collaboration with third-party loan origination platforms, utilizing technology to streamline the process of unsecured consumer and secured or unsecured business loans to qualified borrowers.

One of the bank's recent noteworthy achievements is the signing of a definitive agreement to increase its ownership stake in Business Funding Group to 20% upon closing. This move is expected to enhance FinWise's influence and capabilities in the business funding sector.

Financially, FinWise Bancorp stands strong with capital levels significantly above well-capitalized guidelines as of December 31, 2023. The bank's balance sheet reflects consistent growth, particularly in its loan portfolio, with an increase in SBA 7(a) loan balances guaranteed by the SBA. The leverage ratio has seen a decrease primarily due to this portfolio growth.

Further enhancing its market presence, FinWise has partnered with Hank Payments Corp., a North American leader in consumer fintech SaaS and BaaS platforms. This collaboration aims to enhance consumers' ability to manage loans, build savings, and access credit solutions, aligning with FinWise's strategy to expand and diversify its revenue streams through innovative fintech solutions.

FinWise's payment services, including ACH origination, wires, check, and bill pay services, are now available in collaboration with Hank Payments, leveraging Mastercard's Remote Payment and Presentment Service (RPPS). This partnership is expected to significantly improve consumer and business payment solutions, contributing to recurring fee revenue and a diversified deposit composition over time.

Committed to compliance and regulatory standards, FinWise conducted an intensive due-diligence process and compliance assessment before finalizing the partnership with Hank Payments. This strategic move is part of FinWise's broader goal to become an integrated fintech banking solutions provider, incorporating BIN Sponsorship and Payments HUB offerings into its existing platforms.

For more information, visit www.finwise.bank or contact investors@finwisebank.com for investor-related queries and media@finwisebank.com for media inquiries.

Rhea-AI Summary
FinWise Bancorp appoints Jim Noone as President and Robert Wahlman as CFO, enhancing leadership for growth and expansion. Mr. Wahlman brings 35 years of banking experience, focusing on financial skills and industry expertise. The company aims to launch Payments Hub and BIN Sponsorship offerings for future growth.
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FinWise Bancorp (NASDAQ: FINW) announces a common stock repurchase program to buy back up to 641,832 shares, around 5% of outstanding shares, till March 31, 2026. The move reflects the company's strong financial position and commitment to shareholder value.
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Hank Payments Corp. and FinWise Bank announce a customer origination program agreement to enhance consumer financial capabilities. The partnership aims to improve payment processing, cash management, and credit access through innovative technology.
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Earnest partners with FinWise Bank to offer Private Student Loans, emphasizing affordable and responsible financing. The collaboration aims to provide innovative solutions for students and families seeking education funding, backed by FinWise Bank's regulatory expertise and Earnest's exceptional customer support.
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FinWise Bancorp (NASDAQ: FINW) has promoted Robert Keil and Richard Thiessens to Executive Vice Presidents, highlighting the company's commitment to delivering on strategic initiatives. Chief Fintech Officer Robert Keil and Chief Technology Officer Richard Thiessens will now hold the added title of Executive Vice President. Both leaders have extensive experience in the banking and fintech industry, with Keil previously serving as SVP and Chief Payments Officer at Sutton Bank and Thiessens co-founding Array Technology, which was later acquired by Sophos. The promotions are expected to drive innovation and provide differentiated solutions to FinWise's current and future customers, contributing to the company's mission to become an integrated Banking-as-a-Service provider.
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FinWise Bancorp (NASDAQ: FINW) reported a net income of $4.2 million for the fourth quarter of 2023 with diluted earnings per share of $0.32. Loan originations were $1.2 billion, net interest income was $14.4 million, and non-performing loans were $27.1 million. The company's ongoing strategy aims to drive profitable growth through existing businesses and build strategic initiatives, including Payments Hub and BIN Sponsorship businesses.
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FinWise Bancorp (NASDAQ: FINW) will report its Q4 and full year 2023 results on January 29, 2024, followed by a webcast and conference call. The webcast will be available on the company's website, and a replay will be accessible for six months. The conference call will discuss financial results and accept questions from analysts and via email.
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FinWise Bancorp announces net income of $4.8 million for Q3 2023, with diluted earnings per share of $0.37. Loan originations decrease compared to previous quarter. Net interest income and efficiency ratio improve. Non-performing loans ratio increases. Company expects challenging environment and industry-wide slowdown in loan originations to persist.
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FinWise Bancorp to report Q3 2023 results and host earnings call
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FAQ

What is the current stock price of FinWise Bancorp Common (FINW)?

The current stock price of FinWise Bancorp Common (FINW) is $17.41 as of December 5, 2024.

What is the market cap of FinWise Bancorp Common (FINW)?

The market cap of FinWise Bancorp Common (FINW) is approximately 235.7M.

What types of loans does FinWise Bancorp offer?

FinWise Bancorp offers Small Business Administration (SBA) loans, commercial loans, commercial real estate loans, residential real estate loans, and consumer loans.

What recent strategic moves has FinWise Bancorp made?

FinWise Bancorp recently signed an agreement to increase its ownership stake in Business Funding Group to 20% and partnered with Hank Payments Corp. to enhance payment solutions.

What is the financial condition of FinWise Bancorp?

FinWise Bancorp maintains capital levels significantly above well-capitalized guidelines and has shown consistent growth in its loan portfolio.

How does FinWise Bancorp utilize technology in its operations?

FinWise collaborates with third-party loan origination platforms to streamline unsecured consumer and business loans using advanced technology.

What services are provided through the partnership with Hank Payments?

FinWise offers ACH origination, wires, check, and bill pay services through Mastercard's Remote Payment and Presentment Service (RPPS) in collaboration with Hank Payments.

How does FinWise Bancorp ensure compliance and regulatory standards?

FinWise has a strong commitment to compliance and regulatory standards, conducting intensive due-diligence and compliance assessments in its operations.

Where can I find more information about FinWise Bancorp?

For more information, visit www.finwise.bank or contact investors@finwisebank.com for investor queries and media@finwisebank.com for media inquiries.

What is the significance of FinWise's stake in Business Funding Group?

Increasing its stake to 20% in Business Funding Group enhances FinWise's capabilities and influence in the business funding sector.

What is FinWise Bancorp's primary source of revenue?

FinWise Bancorp's primary source of revenue comes from various forms of lending, including SBA loans, commercial loans, and real estate loans.

How does FinWise Bancorp's partnership with Hank Payments benefit consumers?

The partnership aims to enhance consumers' ability to manage loans, build savings, and access credit solutions, improving overall financial management.

FinWise Bancorp Common

Nasdaq:FINW

FINW Rankings

FINW Stock Data

235.69M
8.94M
31.52%
25.39%
0.33%
Banks - Regional
State Commercial Banks
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United States of America
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