FinWise Bancorp (NASDAQ: FINW) grows Q1 2026 loans but sees higher credit costs

Q: How did FinWise Bancorp (FINW) perform financially in Q1 2026?

FinWise Bancorp generated net income of $2.7 million and diluted EPS of $0.20 in Q1 2026. Net interest income rose to $28.1 million , supported by strong Strategic Program lending, while total operating revenue reached $42.7 million for the quarter.

Q: What were FinWise Bancorp’s loan originations and growth drivers in Q1 2026?

FinWise Bancorp originated $1.75 billion of loans in Q1 2026, up from $1.56 billion in Q4 2025 and $1.26 billion a year earlier. Growth was largely driven by established and newly onboarded Strategic Program lending partners, including expansion of credit enhanced portfolios.

Q: How strong was FinWise Bancorp’s net interest margin in Q1 2026?

FinWise Bancorp’s net interest margin reached 12.90% in Q1 2026, compared with 11.42% in Q4 2025 and 8.27% in Q1 2025. The increase reflected higher yields on credit enhanced loans, larger Strategic Program balances, and a slightly lower cost on interest-bearing deposits.

Q: What credit quality trends did FinWise Bancorp report for Q1 2026?

FinWise Bancorp reported total nonperforming loans of $49.8 million at March 31, 2026, up from $43.7 million at December 31, 2025. Annualized net charge-offs rose to 6.4% of average loans, and unguaranteed nonperforming loans reached $23.2 million , or 4.0% of loans held-for-investment.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

FinWise Bancorp reported first quarter 2026 results with net income of $2.7 million and diluted EPS of $0.20, down from $3.9 million and $0.27 in the prior quarter and $3.2 million and $0.23 a year earlier. Loan originations reached $1.75 billion, up from $1.56 billion in the prior quarter and $1.26 billion in the prior-year quarter, driven by Strategic Program lending growth.

Net interest income rose to $28.1 million from $24.6 million, and net interest margin expanded to 12.90%, helped by higher yields on credit enhanced loans and lower deposit costs. However, the provision for credit losses increased year over year to $10.6 million, reflecting growth in credit enhanced balances and higher net charge-offs, including legacy SBA credits.

Nonperforming loans increased to $49.8 million, or 8.5% of loans held-for-investment, compared with $43.7 million and 7.5% at December 31, 2025. Total assets were $899.4 million and total deposits were $674.9 million as of March 31, 2026. Tangible book value per share improved to $14.34, and the Bank leverage ratio was 16.8%, well above the well-capitalized minimum.

Positive

None.

Negative

Credit quality deterioration: Nonperforming loans rose to $49.8 million (8.5% of loans held-for-investment) and annualized net charge-offs increased to 6.4% of average loans, pressuring earnings despite strong margin expansion.

Insights

FinWise shows strong growth and margins but rising credit costs and problem loans temper the story.

FinWise Bancorp grew loan originations to $1.75 billion in Q1 2026 and expanded net interest income to $28.1 million. Net interest margin reached 12.90%, supported by high-yield Strategic Program and credit enhanced loans, while tangible book value per share edged up to $14.34.

This growth comes with higher risk costs. The total provision for credit losses was $10.6 million, up sharply from $3.3 million a year earlier, and annualized net charge-offs rose to 6.4% of average loans held-for-investment. Nonperforming loans climbed to $49.8 million, or 8.5% of loans, with unguaranteed nonperformers at 4.0%.

Management highlights that credit enhanced portfolios are backed by partner-funded reserve deposits, and the bank’s leverage ratio of 16.8% under the CBLR framework indicates robust capital. Future filings for periods after March 31, 2026 will show whether elevated charge-offs and nonperforming loan levels stabilize as Strategic Program portfolios season and servicing standards evolve.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Loan originations: $1.75B Net income: $2.74M Diluted EPS: $0.20/share +5 more

8 metrics

Loan originations $1.75B Amount of loans originated in Q1 2026

Net income $2.74M Net income for quarter ended March 31, 2026

Diluted EPS $0.20/share Diluted earnings per share for Q1 2026

Net interest margin 12.90% Q1 2026 net interest margin

Provision for credit losses $10.6M Total provision for credit losses in Q1 2026

Nonperforming loans $49.8M Nonperforming loans as of March 31, 2026

Total assets $899.4M Total assets as of March 31, 2026

Bank leverage ratio 16.8% CBLR leverage ratio at March 31, 2026

Key Terms

credit enhanced loans, Strategic Program loans, efficiency ratio, Community Bank Leverage Ratio, +2 more

6 terms

credit enhanced loans financial

"For credit enhanced loans, fintech partners are required to maintain a deposit account at FinWise, which is used to recover charge-offs."

Strategic Program loans financial

"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."

efficiency ratio financial

"Efficiency ratio (3) 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."

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Community Bank Leverage Ratio regulatory

"Leverage ratio (Bank under CBLR) was 16.8%, compared to 16.9% for the prior quarter and 18.8% for the prior year period."

Community bank leverage ratio is a regulatory measure that compares a bank’s core capital (its safety cushion) to the size of its balance sheet, showing what share of assets is backed by tangible equity rather than borrowed money. Investors use it like a health check: a higher ratio means the bank has more buffer to absorb losses, support lending and dividends, and face fewer regulatory limits, while a lower ratio signals greater risk.

credit enhancement income financial

"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."

Credit enhancement income is the money earned from tools or agreements that make a loan or bond safer for lenders — for example, guarantees, reserve funds, or letters of credit that backstop payments. Think of it like a fee or interest earned for providing an insurance layer that reduces the chance of loss; for investors, it affects the expected cash flow and risk profile of a security and can change yield, price stability, and credit ratings.

nonperforming loans financial

"Nonperforming loan balances were $49.8 million as of March 31, 2026, compared to $43.7 million as of December 31, 2025."

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

Earnings Snapshot

Total operating revenue: $42.7M

Q1 2026

Total operating revenue $42.7M up vs prior-year $22.1M

Net income $2.7M down vs prior-quarter $3.9M

Diluted EPS $0.20 down vs prior-quarter $0.27

Net interest margin 12.90% up vs prior-year 8.27%

Understanding 8-K Material Events →

04/30/2026 - 04:21 PM

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

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.

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.

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.

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.

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.

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,

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


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.

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

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.

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

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

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	%

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		%

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:


	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

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.

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.

Source: View Original Filing on SEC EDGAR

FAQ

How did FinWise Bancorp (FINW) perform financially in Q1 2026?

FinWise Bancorp generated net income of $2.7 million and diluted EPS of $0.20 in Q1 2026. Net interest income rose to $28.1 million, supported by strong Strategic Program lending, while total operating revenue reached $42.7 million for the quarter.

What were FinWise Bancorp’s loan originations and growth drivers in Q1 2026?

FinWise Bancorp originated $1.75 billion of loans in Q1 2026, up from $1.56 billion in Q4 2025 and $1.26 billion a year earlier. Growth was largely driven by established and newly onboarded Strategic Program lending partners, including expansion of credit enhanced portfolios.

How strong was FinWise Bancorp’s net interest margin in Q1 2026?

FinWise Bancorp’s net interest margin reached 12.90% in Q1 2026, compared with 11.42% in Q4 2025 and 8.27% in Q1 2025. The increase reflected higher yields on credit enhanced loans, larger Strategic Program balances, and a slightly lower cost on interest-bearing deposits.

What credit quality trends did FinWise Bancorp report for Q1 2026?

FinWise Bancorp reported total nonperforming loans of $49.8 million at March 31, 2026, up from $43.7 million at December 31, 2025. Annualized net charge-offs rose to 6.4% of average loans, and unguaranteed nonperforming loans reached $23.2 million, or 4.0% of loans held-for-investment.

How well capitalized is FinWise Bancorp as of March 31, 2026?

As of March 31, 2026, FinWise Bancorp’s bank leverage ratio under the Community Bank Leverage Ratio framework was 16.8%. Tangible shareholders’ equity to tangible assets stood at 21.9%, and tangible book value per share increased to $14.34, indicating a strong capital position.

What role do credit enhanced loans play in FinWise Bancorp’s results?

Credit enhanced loans contributed to higher yields and revenue in Q1 2026 but also raised provisions. Fintech partners maintain deposit reserve accounts used to reimburse FinWise for charge-offs, with related expected recoveries recorded as credit enhancement income in non-interest income.

Filing Exhibits & Attachments

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FinWise Bancorp (NASDAQ: FINW) grows Q1 2026 loans but sees higher credit costs

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8-K Event Classification

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Earnings Snapshot

FAQ

How did FinWise Bancorp (FINW) perform financially in Q1 2026?

What were FinWise Bancorp’s loan originations and growth drivers in Q1 2026?

How strong was FinWise Bancorp’s net interest margin in Q1 2026?

What credit quality trends did FinWise Bancorp report for Q1 2026?

How well capitalized is FinWise Bancorp as of March 31, 2026?

What role do credit enhanced loans play in FinWise Bancorp’s results?

Filing Exhibits & Attachments

Press Releases

Other Documents

FinWise Bancorp (NASDAQ: FINW) grows Q1 2026 loans but sees higher credit costs

Rhea-AI Filing Summary

Positive

Negative

Insights

Banking sector equity analyst neutral

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did FinWise Bancorp (FINW) perform financially in Q1 2026?

What were FinWise Bancorp’s loan originations and growth drivers in Q1 2026?

How strong was FinWise Bancorp’s net interest margin in Q1 2026?

What credit quality trends did FinWise Bancorp report for Q1 2026?

How well capitalized is FinWise Bancorp as of March 31, 2026?

What role do credit enhanced loans play in FinWise Bancorp’s results?

Filing Exhibits & Attachments

Press Releases

Other Documents