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FinWise Bancorp Q3 2026 earnings rise to $10M

The planned credit-card exit is expected by the second quarter of 2027, with FinWise retaining the acquired technology and servicing platform.

Filing Impact
(High)
Filing Sentiment

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8-K

Rhea-AI Filing Summary

FinWise Bancorp (FINW) reported third-quarter 2026 net income of $10.046 million, versus $4.891 million a year earlier, and diluted EPS of $0.73. Results included a $6.456 million bargain purchase gain from its July 20, 2026 acquisition of certain Tallied Technologies assets and liabilities, plus a $0.376 million discontinued-operations loss. Net interest income was $41.918 million, compared with $18.607 million a year earlier; loan originations were $2.0653 billion.

Credit-enhanced loans held for investment were $146.241 million as of September 30, 2026, versus $41.369 million a year earlier. Total provision for credit losses was $46.747 million; $45.392 million related to credit-enhanced loans was matched by credit-enhancement income, which the company says reflects expected partner recoveries. Nonperforming loans were $37.133 million, down from $43.106 million a year earlier, while net charge-offs were $10.620 million versus $3.127 million.

FinWise plans to exit its credit-card portfolio business, selling the portfolio and certain acquired assets and liabilities while retaining Tallied's technology and servicing platform. It expects to complete the sale by the second quarter of 2027.

2 points · 0 major

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Positive

  • Moderate pointNet income: $10.046 million versus $4.891 million year earlier.
  • Moderate pointNet interest income reached $41.918 million, versus $18.607 million a year earlier.

Negative

  • None.

Filing Explained

By September 30, 2026, the program had repurchased 188,835 shares, against authorization for purchases of up to 685,000.

The credit-card sale remains pending; at September 30, 2026, its disposal group was classified as discontinued operations, with $42,258 thousand in assets and $8,297 thousand in liabilities.

During the quarter ended September 30, 2026, FinWise repurchased 159,099 shares for $2.2 million under a program authorizing purchases of up to 685,000 shares.

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, or exhibit attachments filed with this report.
Net income $10.046 million Third quarter 2026; $4.891 million in third quarter 2025
Diluted EPS $0.73 per share Third quarter 2026
Net interest income $41.918 million Third quarter 2026; $18.607 million in third quarter 2025
Loan originations $2.0653 billion Third quarter 2026
Credit-enhanced loans held for investment $146.241 million As of September 30, 2026
Nonperforming loans $37.133 million As of September 30, 2026; $43.106 million as of September 30, 2025
Net charge-offs $10.620 million Third quarter 2026; $3.127 million in third quarter 2025
Share repurchases 159,099 shares for $2.2 million Third quarter 2026
bargain purchase gain financial
"a $6.5 million bargain purchase gain resulting from the July 20, 2026 acquisition"
A bargain purchase gain happens when a buyer acquires another company's assets for less than those assets' estimated fair value, producing an immediate accounting profit for the buyer. For investors, it matters because that one-time gain boosts the acquirer's reported earnings and can signal a very favorable deal — like finding a valuable item at a steep discount — but it may also prompt scrutiny about whether asset values or the deal terms were estimated correctly.
credit enhancement income financial
"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.
discontinued operations financial
"the results of the credit card business are presented as discontinued operations"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
net interest margin financial
"Net interest margin for the third quarter of 2026 was 19.58%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
allowance for credit losses financial
"allowance for credit losses to total loans held-for-investment was 13.6%"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Net income $10.046 million Compared with $4.891 million in third quarter 2025
Net interest income $41.918 million Compared with $18.607 million in third quarter 2025
Loan originations $2.0653 billion Compared with $1.789736 billion in third quarter 2025
Diluted EPS $0.73 per share Compared with $0.34 per share in third quarter 2025
Guidance

The Company expects the efficiency ratio to continue to improve as it realizes increased revenues from interest earned on growing credit-enhanced loan balances.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did FINW earn in Q3 2026?
FinWise reported $10.046 million in net income for the third quarter of 2026, with diluted EPS of $0.73. Results included a $6.456 million bargain purchase gain related to the Tallied Technologies acquisition and a $0.376 million loss from discontinued operations.

How much were FINW's loan originations in Q3 2026?
FinWise originated $2.0653 billion in loans in the third quarter of 2026, compared with $1.62992 billion in the prior quarter and $1.789736 billion a year earlier. The company attributed the increases primarily to student-lender seasonality, growth in a credit-enhancement lending relationship, and higher volume from certain established strategic programs.

How many shares did FINW repurchase in Q3 2026?
FinWise repurchased 159,099 shares for $2.2 million during the quarter. Its May 2026 program authorizes purchases of up to 685,000 issued and outstanding shares, from time to time, on or before the program's expiration date, in the open market, in privately negotiated transactions, or otherwise, subject to applicable laws and regulations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0001856365FALSE00018563652026-10-282026-10-28

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):  October 28, 2026
FINWISE BANCORP
(Exact name of registrant as specified in its charter)
Utah001-4072183-0356689
(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 classTrading Symbol(s)Name of exchange on which registered
Common Stock, par value $0.001 per shareFINWThe 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 October 28, 2026, reporting the Company's financial results for the fiscal quarter ended September 30, 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 October 28, 2026
99.2
Investor Presentation of FinWise Bancorp Third Quarter 2026 (furnished pursuant to Regulation FD).
104Cover 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:  October 28, 2026
FINWISE BANCORP
/s/ Robert Wahlman
Robert Wahlman
Chief Financial Officer and Executive Vice President


image_0a.jpg                                     
Exhibit 99.1

FINWISE BANCORP REPORTS THIRD QUARTER 2026 RESULTS
- Loan Originations of $2.1 Billion -
- Net Income of $10.0 Million -
- Diluted Earnings Per Share of $0.73 -

MURRAY, UTAH — October 28, 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 September 30, 2026.

Third Quarter 2026 Highlights
•Loan originations totaled $2.1 billion, compared to $1.6 billion for the quarter ended June 30, 2026, and $1.8 billion for the third quarter of the prior year
•Period end credit enhanced loan balances outstanding reached $146.2 million in the third quarter, compared to $74.2 million for the quarter ended June 30, 2026, and $41.4 million for the third quarter of the prior year
•Net interest income was $41.9 million, compared to $28.4 million for the quarter ended June 30, 2026, and $18.6 million for the third quarter of the prior year
•Net income was $10.0 million, compared to $2.1 million for the quarter ended June 30, 2026, and $4.9 million for the third quarter of the prior year
•Net income for the three months ended September 30, 2026 includes a $6.5 million bargain purchase gain resulting from the July 20, 2026 acquisition of certain assets and assumption of certain liabilities of Tallied Technologies Inc. and a $0.4 million loss from discontinued operations
•Diluted earnings per share (“EPS”) were $0.73 for the quarter, compared to $0.15 for the quarter ended June 30, 2026, and $0.34 for the third quarter of the prior year
•Efficiency ratio1 was 41.6%, compared to 54.9% for the quarter ended June 30, 2026, and 47.6% for the third quarter of the prior year
•Nonperforming loan balances were $37.1 million as of September 30, 2026, compared to $37.7 million as of June 30, 2026, and $43.1 million as of September 30, 2025. Nonperforming loan balances guaranteed by the Small Business Administration (“SBA”) were $17.7 million, $19.1 million, and $23.6 million as of September 30, 2026, June 30, 2026, and September 30, 2025, respectively

“This quarter demonstrates the tangible progress we have made in broadening our platform and building a more capital-efficient sponsor bank,” said Jim Noone, CEO of FinWise Bancorp. “We originated $2.1 billion in loans and we nearly doubled our credit-enhanced balances to $146 million in the quarter. Even after the cost of those partner arrangements, net interest income rose 17%1 from the second quarter. We also recognized a one-time gain from our first acquisition transaction.

“Credit performance improved during the quarter. Net charge-offs on loans without credit enhancement were $2.6 million in the quarter, well below the range of the last few quarters. Non-performing asset balances also decreased quarter-over-quarter. With tangible book value up 9% over the past year, a leverage ratio of 18.1%, a strong pipeline of prospective partners with the potential to contribute more meaningfully to future revenue, and continued share repurchases, we have the capital strength, teams and operating environment to execute. We remain committed to disciplined execution, ongoing credit quality improvement, and delivering long-term value for our shareholders."
1 See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a reconciliation of this non-GAAP measure.
1



Selected Financial and Other Data

As of and for the Three Months Ended
($ in thousands, except per share amounts)9/30/20266/30/20269/30/2025
Amount of loans originated$2,065,300 $1,629,920 $1,789,736 
Provision for credit losses, net of provision for credit-enhanced Strategic Program loans(1)
$1,355 $5,999 $3,949 
Net income$10,046 $2,133 $4,891 
Diluted EPS(2)
$0.73 $0.15 $0.34 
Income from continuing operations before income taxes and provision for non-credit enhanced(3)
$14,607 $8,273 $10,360 
Return on average assets(4)
4.3 %0.9 %2.2 %
Return on average equity(4)
19.9 %4.3 %10.6 %
Yield on loans25.14 %18.75 %13.25 %
Cost of interest-bearing deposits3.89 %3.83 %4.06 %
Net interest margin 19.58 %13.83 %9.09 %
Efficiency ratio from continuing operations (5)
41.6 %54.9 %47.6 %
Tangible book value per share(6)
$15.14 $14.55 $13.84 
Tangible shareholders’ equity to tangible assets(6)
21.7 %21.5 %20.9 %
Leverage ratio (Bank under CBLR)
18.1 %18.1 %17.2 %
Full-time equivalent employees209206194
(1)    Represents a non-GAAP financial measure calculated as the total provision for credit losses less the provision attributable to Strategic Program loans with credit enhancement. This non-GAAP measure reflects the portion of credit loss provision that is not covered by strategic partners with credit enhancement and therefore represents the Company’s provision expense for the credit exposure retained by the Company. See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.
(2)    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. Effective December 31, 2025, executive management elected to waive the dividend rights on their unvested restricted stock awards, and this waiver extends to restricted stock awards granted in 2026 to directors and various other employees. As a result, these unvested shares are no longer treated as participating securities and are excluded from the two-class method calculation of EPS. The impact on basic and diluted earnings per share was de minimis, and previously reported periods are not affected.
(3)    Represents a non-GAAP financial measure calculated by adding the provision for credit losses and subtracting the credit enhancement income to income from continuing operations before income taxes. See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure.
(4)    Annualized for the respective three-month periods.
(5)    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.
(6)    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 at the end of any period indicated. The Company has not considered internally used software and 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.

Credit Card Business: Strategic Repositioning and Discontinued Operations
In July 2026, FinWise completed its acquisition of certain assets and assumption of certain liabilities of Tallied Technologies, Inc. (“Tallied”). The transaction added card issuing and program management technology, along with an experienced team, that expands the Company’s ability to support credit card programs for its fintech partners. Concurrent with the acquisition, the Company determined that investing in credit card receivables was not a strategy the Company would pursue, and the Board of Directors approved a plan to exit the credit card portfolio business and to divest the credit card loan portfolio and certain acquired assets and liabilities while retaining the technology and credit card servicing platform. The disposal group consists of the credit card portfolio as well as the program sponsor relationship, program records, and associated cardholder rewards liability acquired as part of the Tallied transaction. Accordingly, the results of the credit card business are presented as discontinued operations for all periods presented, and the related assets and liabilities are classified as assets and liabilities of discontinued operations on the balance sheet as of September 30, 2026. The Company is retaining the technology platform and development team to help complete the platform build out to be used to support our
2



strategy to service credit card programs and the payments needs of our fintech partners as part of our banking-as-a service strategy.

For the third quarter of 2026, net income from continuing operations was $10.4 million, or $0.76 per diluted share, including a bargain purchase gain of $6.5 million. Net loss from discontinued operations was $0.4 million. The Company expects to complete the sale of its credit card business, including certain credit card assets acquired in the Tallied transaction, by the second quarter of 2027.

Loan Originations
Loan originations totaled $2.1 billion for the third quarter of 2026, an increase from the $1.6 billion recorded in the prior quarter and an increase from the $1.8 billion recorded in the prior year period. The growth in originations compared to both the prior quarter and the prior year period primarily reflects the seasonality of originations by student loan lenders, the rapid growth of a credit enhancement lending relationship, and an increase in volume from certain established strategic programs.

Net Interest Income and Net Interest Margin
Net interest income was $41.9 million for the third quarter of 2026, compared to $28.4 million for the prior quarter and $18.6 million for the prior year period. The increase from the prior quarter was primarily due to growth in the credit-enhanced loan portfolio and a decrease in the migration of performing loans to nonperforming loans, which resulted in a lower reversal of interest on nonaccrual loans and contributed to an increase in the average yield on loans held-for-investment. The increase from the prior year period was primarily due to the same growth in credit enhanced loans, as well as a change in estimate, based on additional information and experience, regarding 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. In the prior year, it had estimated that a portion was attributable to origination costs, or finders’ fees, which was reported in net interest income. Because this change in estimate was reflected in both the current and prior quarters, it did not affect the comparison to the quarter ended June 30, 2026.

Net interest margin for the third quarter of 2026 was 19.58%, compared to 13.83% for the prior quarter and 9.09% for the prior year period. The increase in net interest margin from the prior quarter was primarily due to growth in the higher-yielding credit-enhanced loan portfolio and a decrease in the migration of performing loans to nonaccrual status, which resulted in lower reversals of interest on nonaccrual loans, partially offset by a higher average rate paid on time certificates of deposit. The increase in net interest margin from the prior-year period was primarily due to growth in the higher-yielding credit-enhanced loan portfolio and higher yields on loans held-for-investment, the change in estimated allocation of excess interest as previously described, and lower rates paid on deposits.


3



Provision for Credit Losses
Three Months Ended
($ in thousands)9/30/20266/30/20269/30/2025
Provision for credit losses:
Strategic Program loans - with credit enhancement(1)
$45,392 $14,944 $8,850 
Strategic Program loans - without credit enhancement1,324 1,995 2,462 
All other loans (core portfolio)(126)3,880 1,346 
Provision for credit losses on loans46,590 20,819 12,658 
Provision for unfunded commitments157 124 141 
Total provision for credit losses$46,747 $20,943 $12,799 
(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 from continuing operations was $46.7 million for the third quarter of 2026, compared to $20.9 million for the prior quarter and $12.8 million for the prior year period. The increase from the prior quarter was primarily due to growth in the credit-enhanced loan programs, for which the provision is offset by credit enhancement income recognized in non-interest income. Excluding credit-enhanced loans, the provision for credit losses of $1.4 million declined $4.6 million from the prior quarter, compared to a provision of $5.9 million in the prior quarter, reflecting higher recoveries, reduced migration to classified loans resulting in less provisions for loans individually reviewed for impairment, and lower provisioning on Strategic Program loans without credit enhancement. The year-over-year increase was primarily related to growth in the credit-enhanced portfolio, partially offset by lower provisioning in the traditional bank portfolio as migration to classified status declined, and on Strategic Program loans without credit enhancement.

Non-interest Income
Three Months Ended
($ in thousands)9/30/20266/30/20269/30/2025
Non-interest income
Strategic Program fees$6,573 $5,251 $6,180 
Gain on sale of loans1,866 1,480 1,854 
SBA loan servicing fees, net79 80 (242)
Change in fair value on investment in BFG(900)(200)200 
Credit enhancement income45,392 14,944 8,762 
Bargain purchase gain6,456 — — 
Other miscellaneous income1,359 1,567 1,298 
Total non-interest income$60,825 $23,122 $18,052 

The increase in non-interest income from the prior quarter was primarily due to an increase in credit enhancement income, which corresponds to the higher provision for credit losses on credit-enhanced loans for the quarter ended September 30, 2026. Non-interest income also included a $6.5 million bargain purchase gain recognized in connection with the Tallied acquisition. In addition, Strategic Program fees increased, consistent with growth in Strategic Program volume and in Strategic Program loans held for investment. These increases were partially offset by a decrease in the fair value of the Company’s investment in BFG.

The increase in non-interest income compared to the prior-year period was primarily due to an increase in credit enhancement income, driven by growth in credit-enhanced loan balances, and the $6.5 million bargain purchase gain recognized in connection with the Tallied acquisition. These increases were partially offset by a decrease in the fair value of the Company’s investment in BFG.
4




Non-interest Expense
Three Months Ended
($ in thousands)9/30/20266/30/20269/30/2025
Non-interest expense
Salaries and employee benefits$12,483 $11,062 $10,814 
Professional services1,426 1,146 876 
Occupancy and equipment expenses440 417 456 
Credit enhancement servicing expense4,284 1,393 248 
Credit enhancement guarantee expense
20,049 11,337 1,720 
Other operating expenses4,062 2,951 3,335 
Total non-interest expense$42,744 $28,306 $17,449 

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. Excluding credit enhancement related expenses, non-interest expense increased $2.8 million, primarily due to a $1.4 million increase for higher salaries and employee benefits, including employees added in connection with the Tallied acquisition, and higher other operating expenses.

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 higher salaries and employee benefits, principally from increased headcount, including employees added in connection with the Tallied acquisition.

FinWise’s efficiency ratio was 41.6% for the third quarter, compared to 54.9% for the prior quarter and 47.6% for the prior year period. We expect the efficiency ratio to continue to improve as we realize increased revenues from interest earned on our growing credit-enhanced loan balances.

Tax Rate
The Company’s effective tax rate was 21.0% for the third quarter of 2026, down from 23.9% for the prior quarter and 23.7% for the prior year period. The lower effective tax rate in the third quarter is primarily driven by the $6.5 million bargain purchase gain recognized in connection with the Tallied acquisition, as it is excluded from the calculation of income tax because the related deferred taxes were recorded in acquisition accounting. Partially offsetting this benefit were $0.6 million of discrete tax expense related to state income tax refunds received during the quarter, as well as a higher estimated annual effective tax rate attributable to nondeductible compensation.

Net Income
Net income was $10.0 million for the third quarter of 2026, compared to $2.1 million for the prior quarter and $4.9 million for the prior year period. Net income from continuing operations was $10.4 million for the third quarter, compared to $1.8 million for the prior quarter and $4.9 million for the prior year period. Third quarter results included a non-recurring, pre-tax bargain purchase gain of $6.5 million recognized in connection with the Tallied acquisition; this gain was exempt from income tax as the related deferred taxes were recorded in acquisition accounting. Discontinued operations resulted in a loss, net of tax, of $0.4 million for the third quarter, compared to income, net of tax, of $0.4 million for the prior quarter. The remaining changes in net income for the three months ended September 30, 2026 relative to both the prior quarter and prior year period, are otherwise generally attributable to the factors discussed in the foregoing sections.


5



Balance Sheet
The Company’s total assets were $958.3 million as of September 30, 2026, an increase from $925.3 million as of June 30, 2026 and an increase from $899.9 million as of September 30, 2025. The increase in total assets from June 30, 2026 was primarily due to increases in credit-enhanced loans of $72.0 million, the credit enhancement asset of $35.9 million, and other assets of $13.9 million. These increases were partially offset by an increase in the allowance for credit losses of $36.1 million, a decrease in Strategic Program loans held-for-sale of $30.2 million, and a decrease in loans held-for-investment, excluding credit-enhanced loans, of $13.0 million.

The increase in total assets compared to September 30, 2025 was primarily due to increases in credit-enhanced loans of $104.9 million, the credit enhancement asset of $53.0 million, assets of discontinued operations of $42.3 million related to the credit card program, and other assets of $32.6 million. These increases were partially offset by a decrease in loans held-for-investment, excluding credit-enhanced loans, of $78.8 million, an increase in the allowance for credit losses of $54.3 million, and decreases in Strategic Program loans held-for-sale of $22.1 million and cash and cash equivalents of $13.1 million.

The following table provides the composition of loans held-for-investment (“HFI”) as of the dates indicated:

9/30/20266/30/20269/30/2025
($ in thousands)
Amount% of total loansAmount% of total loansAmount% of total loans
SBA$135,780 23.2 %$162,441 30.9 %$240,945 43.1 %
Commercial leases79,102 13.5 %72,940 13.9 %77,763 13.9 %
Commercial, non-real estate3,157 0.5 %3,544 0.7 %4,908 0.9 %
Residential real estate79,934 13.7 %71,426 13.6 %61,521 11.0 %
Strategic Program loans:
Strategic Program loans - with credit enhancement146,241 25.0 %74,229 14.1 %41,369 7.4 %
Strategic Program loans - without credit enhancement36,902 6.3 %34,488 6.6 %21,899 3.9 %
Commercial real estate:
     Owner occupied87,465 14.9 %87,779 16.7 %84,703 15.1 %
     Non-owner occupied2,247 0.4 %2,136 0.4 %1,448 0.3 %
Consumer14,321 2.5 %17,170 3.3 %24,569 4.4 %
Total period end loans
$585,149 100.0 %$526,153 100.0 %$559,125 100.0 %

Note: SBA loans as of September 30, 2026, June 30, 2026, and September 30, 2025 include $44.0 million, $65.5 million, and $132.7 million, respectively, of SBA 7(a) loan balances that are guaranteed by the SBA.

Total loans HFI as of September 30, 2026 increased $59.0 million and increased $26.0 million compared to June 30, 2026, and September 30, 2025, respectively. The increases were driven by growth in credit-enhanced Strategic Program loans, which increased $72.0 million and $104.9 million compared to June 30, 2026 and September 30, 2025, respectively, reflecting our 2025 strategic initiative to develop the credit-enhanced portfolio. These increases were partially offset by declines in the SBA portfolio of $26.7 million and $105.2 million compared to June 30, 2026 and September 30, 2025, respectively, resulting primarily from sales of the guaranteed portions of SBA 7(a) loans, reflecting ongoing portfolio and credit risk management.

6



The following table presents the Company’s deposit composition as of the dates indicated:

9/30/20266/30/20269/30/2025
($ in thousands)
AmountPercentAmountPercentAmountPercent
Noninterest-bearing demand deposits
$137,425 19.4 %$118,926 17.1 %$130,601 19.2 %
Interest-bearing deposits:
Demand
75,544 10.7 %106,833 15.4 %89,443 13.1 %
Savings
7,290 1.0 %7,968 1.1 %11,495 1.7 %
Money market
20,232 2.9 %21,969 3.2 %22,634 3.3 %
Time certificates of deposit
467,110 66.0 %438,103 63.2 %428,137 62.7 %
Total period end deposits
$707,601 100.0 %$693,799 100.0 %$682,310 100.0 %

The increase in total deposits as of September 30, 2026 from June 30, 2026 was primarily due to growth in time certificates of deposit of $29.0 million and noninterest-bearing demand deposits of $18.5 million, partially offset by a decrease in interest-bearing demand deposits of $31.3 million. The increase in total deposits as of September 30, 2026 from September 30, 2025 was primarily driven by growth in time certificates of deposit of $39.0 million, which were utilized to fund growth in credit-enhanced loans and enhance the Company’s liquidity profile, and in noninterest-bearing demand deposits of $6.8 million, partially offset by a decrease in interest-bearing demand deposits of $13.9 million.

Total shareholders’ equity as of September 30, 2026 increased $8.9 million to $208.1 million from $199.2 million at June 30, 2026. Compared to September 30, 2025, total shareholders’ equity increased by $20.3 million from $187.8 million. The increases from June 30, 2026, and September 30, 2025 were primarily due to net income generated throughout the respective period, partially offset by repurchases of common stock under the Company’s stock repurchase program.

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
9/30/20266/30/20269/30/2025
Well-Capitalized Requirement(1)
Leverage ratio
18.1%18.1%17.2%8.0%
(1) The well-capitalized requirement was 9.0% until July 1, 2026, at which time it was reduced to 8.0%.

The leverage ratio was unchanged from the prior quarter, as growth in capital from earnings was offset by growth in average assets. The increase from the prior year period resulted primarily from growth in capital from earnings exceeding the relative growth in average assets. The Bank’s capital levels as of September 30, 2026 remain significantly above the regulatory well-capitalized guidelines as of September 30, 2026.

Share Repurchase Program
During the three months ended September 30, 2026, the Company repurchased 159,099 shares for $2.2 million under the Company’s share repurchase program announced in May 2026, which provides for the purchase of up to 685,000 of the Company’s issued and outstanding shares, from time to time, on or before the program's expiration date, in the open market, in privately-negotiated transactions, or otherwise, subject to applicable laws and regulations. As of September 30, 2026, the Company has repurchased an aggregate amount of 188,835 shares under the plan since its inception.

7



Asset Quality
The recorded balances of nonperforming loans were $37.1 million, or 6.3% of total loans held-for-investment, as of September 30, 2026, compared to $37.7 million, or 7.2% of total loans held-for-investment, as of June 30, 2026 and $43.1 million, or 7.7% of total loans held-for-investment, as of September 30, 2025. The balances of nonperforming loans guaranteed by the SBA were $17.7 million, $19.1 million, and $23.6 million as of September 30, 2026, June 30, 2026, and September 30, 2025, respectively. The decrease in nonperforming loans from the prior quarter and prior year period was primarily attributable to paydowns resulting from the sale of real property collateralizing nonperforming SBA 7(a) and commercial real estate loans. The decrease in nonperforming loans as a percentage of total loans held-for-investment from the prior quarter also reflects growth in credit-enhanced loans held-for-investment. The Company’s allowance for credit losses to total loans held-for-investment was 13.6% as of September 30, 2026 compared to 8.3% as of June 30, 2026 and 4.6% as of September 30, 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 $10.6 million, $11.4 million, and $3.1 million for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively. The decrease in net charge-offs from the prior quarter resulted primarily from lower charge-offs in the traditional bank portfolio, partially offset by higher charge-offs associated with credit-enhanced Strategic Program loans. The increase from the third quarter of 2025 resulted primarily from higher charge-offs associated with credit-enhanced Strategic Program loans as that program increased in size and matured. Charge-offs for the traditional bank portfolio totaled $1.1 million in the third quarter compared to $3.3 million in the prior quarter and $0.9 million in the third quarter of 2025. The decrease from the prior quarter reflects lower charge-offs on owner-occupied commercial real estate and commercial and industrial loans, while the increase from the prior year period primarily reflects charge-offs on owner-occupied commercial real estate loans resulting from the resolution of specific nonperforming loans.

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)
9/30/20266/30/20269/30/2025
Allowance for credit losses:
Beginning balance
$43,851 $34,382 $16,247 
Provision for credit losses(1)
46,590 20,819 12,658 
Charge-offs
Construction and land development— — — 
Residential real estate(98)(153)(33)
Residential real estate multifamily— — — 
Commercial real estate:
Owner occupied(826)(2,258)(258)
Non-owner occupied— (47)— 
Commercial and industrial(165)(763)(409)
Consumer(13)(13)(119)
Lease financing receivables(48)(99)(52)
Strategic Program loans:
 
Strategic Program loans - with credit enhancement(8,216)(6,224)(105)
Strategic Program loans - without credit enhancement(2,528)(2,677)(2,641)
Recoveries
Construction and land development— — — 
Residential real estate279 4 3 
Residential real estate multifamily— — — 
8



Commercial real estate:
Owner occupied423 333 90 
Non-owner occupied14 — — 
Commercial and industrial4 33 1 
Consumer5 7 3 
Lease financing receivables3 21 52 
Strategic Program loans(2)
546 486 341 
Ending Balance
$79,821 $43,851 $25,778 

Credit Quality Data
As of and For the Three Months Ended
($ in thousands)
9/30/20266/30/20269/30/2025
Nonperforming loans:
Guaranteed$17,743 $19,100 $23,572 
Unguaranteed19,390 18,570 19,534 
Total nonperforming loans
$37,133 $37,670 $43,106 
Allowance for credit losses$79,821 $43,851 $25,778 
Net charge-offs:
Core portfolio
$422 $2,935 $722 
Strategic Program loans - with credit enhancement(2)
8,055 6,139 105 
Strategic Program loans - without credit enhancement2,143 2,276 2,300 
Total net charge-offs
$10,620 $11,350 $3,127 
Total loans held-for-investment$585,149 $526,153 $559,125 
Total loans held-for-investment less guaranteed balances$541,143 $460,650 $426,392 
Average loans held-for-investment
$608,198 $582,171 $542,595 
Nonperforming loans to total loans held-for-investment
6.3 %7.2 %7.7 %
Unguaranteed nonperforming loans to total loans held-for-investment3.3 %3.5 %3.5 %
Net charge-offs to average loans held-for-investment (annualized)
6.9 %7.8 %2.3 %
Allowance for credit losses to total loans held-for-investment13.6 %8.3 %4.6 %
Allowance for credit losses to total loans held-for-investment, excluding guaranteed and credit-enhanced balances3.9 %4.0 %3.8 %
(1)    Excludes the provision for unfunded commitments.
(2)    Recoveries related to Strategic Program loans that were reimbursed fully on the credit enhanced portfolio totaled $9.5 million, $6.1 million, and $17.0 thousand for the three months ended September 30, 2026, June 30, 2026, and September 30, 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 third 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 13762479. 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.

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
9



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.

We periodically provide information for investors on our corporate website, finwisebancorp.com, and our investor relations website, investors.finwisebancorp.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to our annual meeting of shareholders.

"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, in particular the recent advancements in artificial intelligence and the risks that such technology presents; 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, including the Company’s ability to manage integration costs and the timing in disposing of acquired assets classified as discontinued operations; further negative ratings outlooks
10



or downgrades of the long-term credit rating of the United States; and potential government shutdowns 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. 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.

Contacts
investors@finwisebank.com
media@finwisebank.com

11



FINWISE BANCORP
CONSOLIDATED BALANCE SHEETS
($ in thousands; Unaudited)

9/30/20266/30/20269/30/2025
ASSETS
Cash and cash equivalents
Cash and due from banks
$8,786 $6,111 $10,362 
Interest-bearing deposits
83,786 87,527 95,265 
Total cash and cash equivalents
92,572 93,638 105,627 
Investment securities available-for-sale, at fair value
24,998 27,546 27,761 
Investment securities held-to-maturity, at cost
8,414 8,882 10,617 
Strategic Program loans held-for-sale, at lower of cost or fair value134,661 164,906 156,718 
Loans held-for-investment, net
505,328 482,302 533,347 
Credit enhancement asset64,247 28,322 11,214 
Assets subject to operating leases, net 10,040 11,107 13,317 
Deferred taxes, net
2,926 2,848 1,079 
Assets of discontinued operations42,258 46,822 — 
Other assets
72,881 58,938 40,249 
Total assets
$958,325 $925,311 $899,929 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits
Noninterest-bearing
$137,425 $118,926 $130,601 
Interest-bearing
570,176 574,873 551,709 
Total deposits
707,601 693,799 682,310 
Liabilities of discontinued operations8,297 162 — 
Other liabilities
34,377 32,159 29,854 
Total liabilities
750,275 726,120 712,164 
Shareholders’ equity
Common stock
14 14 14 
Additional paid-in-capital
61,739 62,359 59,417 
Retained earnings
146,308 136,804 128,282 
Accumulated other comprehensive income (loss), net of tax(11)14 52 
Total shareholders’ equity
208,050 199,191 187,765 
Total liabilities and shareholders’ equity
$958,325 $925,311 $899,929 


12



FINWISE BANCORP
CONSOLIDATED STATEMENTS OF INCOME
($ in thousands, except per share amounts; Unaudited)
Three Months Ended
9/30/20266/30/20269/30/2025
Interest income
Interest and fees on loans
$45,569 $31,922 $22,532 
Interest on securities
315 337 360 
Other interest income
891 888 1,074 
Total interest income
46,775 33,147 23,966 
Interest expense
Interest on deposits
4,857 4,746 5,359 
Total interest expense
4,857 4,746 5,359 
Net interest income
41,918 28,401 18,607 
Provision for credit losses
46,747 20,943 12,799 
Net interest income (loss) after provision for credit losses
(4,829)7,458 5,808 
Non-interest income
Strategic Program fees
6,573 5,251 6,180 
Gain on sale of loans, net
1,866 1,480 1,854 
SBA loan servicing fees, net
79 80 (242)
Change in fair value on investment in BFG
(900)(200)200 
Credit enhancement income45,392 14,944 8,762 
Bargain purchase gain6,456 — — 
Other miscellaneous income
1,359 1,567 1,298 
Total non-interest income
60,825 23,122 18,052 
Non-interest expense
Salaries and employee benefits
12,483 11,062 10,814 
Professional services
1,426 1,146 876 
Occupancy and equipment expenses
440 417 456 
Credit enhancement servicing expense4,284 1,393 248 
Credit enhancement guarantee expense
20,049 11,337 1,720 
Other operating expenses
4,062 2,951 3,335 
Total non-interest expense
42,744 28,306 17,449 
Income from continuing operations before income taxes13,252 2,274 6,411 
Provision for income taxes from continuing operations2,830 512 1,520 
Net income from continuing operations10,422 1,762 4,891 
Income (loss) from discontinued operations, net of tax(376)371 — 
Net income$10,046 $2,133 $4,891 
Earnings per share, basic:
Earnings from continuing operations$0.79 $0.13 $0.36 
Earnings (loss) from discontinued operations(0.03)0.03 — 
Net income per common share, basic$0.76 $0.16 $0.36 
Earnings per share, diluted:
Earnings from continuing operations$0.76 $0.13 $0.34 
Earnings (loss) from discontinued operations(0.03)0.02 — 
Net income per common share, diluted$0.73 $0.15 $0.34 
Weighted average shares outstanding, basic
13,154,82713,112,58012,859,264
Weighted average shares outstanding, diluted
13,662,81213,673,16713,615,354
Shares outstanding at end of period
13,743,49413,687,68013,571,090
13



FINWISE BANCORP
AVERAGE BALANCES, YIELDS, AND RATES
($ in thousands; Unaudited)
Three Months Ended
9/30/20266/30/20269/30/2025

Average BalanceInterestAverage Yield/RateAverage BalanceInterestAverage Yield/RateAverage BalanceInterestAverage Yield/Rate
Interest-earning assets:
   Interest-bearing deposits
$91,527 $891 3.86 %$96,659 $888 3.68 %$97,404 $1,074 4.37 %
   Investment securities
34,567 315 3.62 %36,804 337 3.67 %39,497 360 3.61 %
   Strategic Program loans held-for-sale
126,691 5,315 16.64 %118,401 5,430 18.39 %132,314 6,219 18.65 %
   Loans held-for-investment
608,198 41,245 26.90 %582,171 27,324 18.83 %542,595 16,313 11.93 %
   Total interest-earning assets (1)
860,983 47,766 22.01 %834,035 33,979 16.34 %811,810 23,966 11.71 %
Noninterest-earning assets
72,080 68,968 73,023 
Total assets
$933,063 $903,003 $884,833 
Interest-bearing liabilities:
   Demand
$81,283 $738 3.60 %$84,096 $733 3.49 %$69,941 $630 3.57 %
   Savings
12,958 16 0.48 %10,010 20 0.79 %12,271 54 1.75 %
   Money market accounts
21,255 186 3.47 %20,972 180 3.44 %24,629 237 3.82 %
   Certificates of deposit
422,854 4,343 4.07 %432,145 4,297 3.99 %417,059 4,438 4.22 %
   Total deposits
538,350 5,283 3.89 %547,223 5,230 3.83 %523,900 5,359 4.06 %
   Other borrowings
— — — %— — — %— — — %
   Total interest-bearing liabilities (1)
538,350 5,283 3.89 %547,223 5,230 3.83 %523,900 5,359 4.06 %
Noninterest-bearing deposits
162,609 124,187 140,499 
Noninterest-bearing liabilities
32,110 34,462 36,552 
Shareholders’ equity
199,994 197,131 183,882 
Total liabilities and shareholders’ equity
$933,063 $903,003 $884,833 
Net interest income and interest rate spread
$42,483 18.12 %$28,749 12.51 %$18,607 7.65 %
Net interest margin
19.58 %13.83 %9.09 %
Ratio of average interest-earning assets to average interest-bearing liabilities
159.93 %152.41 %154.96 %

(1) Includes interest income of $1.0 million and $0.8 million and interest expense of $0.4 million and $0.5 million from discontinued operations for the three months ended September 30, 2026 and June 30, 2026, respectively. There were no discontinued operations for the three months ended September 30, 2025.
14



Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
Efficiency ratio
Three Months Ended
($ in thousands)
9/30/20266/30/20269/30/2025
Total non-interest expense$42,744 $28,306 $17,449 
Net interest income41,918 28,401 18,607 
Total non-interest income60,825 23,122 18,052 
Operating revenue
$102,743 $51,523 $36,659 
Efficiency ratio from continuing operations41.6 %54.9 %47.6 %

The following table presents the impact of the credit enhancement program on our efficiency ratio:

Adjusted efficiency ratio
Three Months Ended
($ in thousands)
9/30/20266/30/20269/30/2025
Non-interest expense (GAAP)
$42,744 $28,306 $17,449 
Less: credit enhancement program expenses
24,333 12,730 1,968 
Adjusted non-interest expense18,411 15,576 15,481 
Net interest income (GAAP)
41,918 28,401 18,607 
Less: credit enhancement program expenses
24,333 12,730 1,968 
Adjusted net interest income17,585 15,671 16,639 
Total non-interest income (GAAP)60,825 23,122 18,052 
Less: credit enhancement income45,392 14,944 8,762 
Adjusted non-interest income
15,433 8,178 9,290 
Adjusted operating revenue
$33,018 $23,849 $25,929 
Adjusted efficiency ratio from continuing operations55.8 %65.3 %59.7 %

The following table reconciles the total provision for credit losses from continuing operations on a GAAP basis to a non-GAAP measure that excludes amounts attributable to credit-enhanced Strategic Program loans:

Three Months Ended
($ in thousands)9/30/20266/30/20269/30/2025
Total provision for credit losses from continuing operations (GAAP):$46,747 $20,943 $12,799 
Less: Strategic Program loans - with credit enhancement45,392 14,944 8,850 
Provision for credit losses, net of Strategic Program loans - with credit enhancement $1,355 $5,999 $3,949 

Net income from continuing operations before provision for non-credit enhanced
Three Months Ended
($ in thousands)9/30/20266/30/20269/30/2025
Income from continuing operations before income taxes (GAAP)$13,252 $2,274 $6,411 
Provision for credit losses, net of Strategic Program loans - with credit enhancement (see non-GAAP table above)1,355 5,999 3,949 
Income from continuing operations before income taxes and provision for non-credit enhanced $14,607 $8,273 $10,360 
15




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 EndedAs of and for the Three Months EndedAs of and for the Three Months Ended
9/30/20266/30/20269/30/2025
($ in thousands; unaudited)
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 $608,198 $41,245 26.90 %$582,171 $27,324 18.83 %$542,595 $16,313 11.93 %
Less: credit enhancement program expenses(1)
(24,454)(13,286)(1,968)
Net of adjustment for credit enhancement program expenses
$608,198 $16,791 10.95 %$582,171 $14,038 9.67 %$542,595 $14,345 10.49 %
(1) Includes credit enhancement expenses of $0.1 million and $0.6 million from discontinued operations for the three months ended September 30, 2026 and June 30, 2026, respectively. There were no discontinued operations for the three months ended September 30, 2025.

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.

16



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 EndedAs of and for the Three Months EndedAs of and for the Three Months Ended
9/30/20266/30/20269/30/2025
($ in thousands; unaudited)
Total Average Interest-Earning AssetsNet Interest IncomeNet Interest MarginTotal Average Interest-Earning AssetsNet Interest IncomeNet Interest MarginTotal Average Interest-Earning AssetsNet Interest IncomeNet Interest Margin
Before adjustment for credit enhancement $860,983 $42,483 19.58 %$834,035 $28,749 13.83 %$811,810 $18,607 9.09 %
Less: credit enhancement program expenses(1)
(24,454)(13,286)(1,968)
Net of adjustment for credit enhancement program expenses$860,983 $18,029 8.31 %$834,035 $15,463 7.44 %$811,810 $16,639 8.13 %
(1) Includes credit enhancement expenses of $0.1 million and $0.6 million from discontinued operations for the three months ended September 30, 2026 and June 30, 2026, respectively. There were no discontinued operations for the three months ended September 30, 2025.

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 September 30, 2026
Three Months Ended June 30, 2026
Three Months Ended September 30, 2025
Total non-interest expense from continuing operations$42,744 $28,306 $17,449 
Less: credit enhancement program expenses
(24,333)(12,730)(1,968)
Total non-interest expense less credit enhancement program expenses$18,411 $15,576 $15,481 

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:

17



($ in thousands; unaudited)
Three Months Ended September 30, 2026
Three Months Ended June 30, 2026
Three Months Ended September 30, 2025
Total non-interest income from continuing operations$60,825 $23,122 $18,052 
Less: credit enhancement income(45,392)(14,944)(8,762)
Total non-interest income less credit enhancement income$15,433 $8,178 $9,290 

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 September 30, 2026
As of June 30, 2026
As of September 30, 2025
Allowance for credit losses$79,821 $43,851 $25,778 
Less: allowance for credit losses related to credit enhanced loans(64,247)(28,322)(11,214)
Allowance for credit losses excluding the effect of the allowance for credit losses related to credit enhanced loans$15,574 $15,529 $14,564 

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 September 30, 2026, June 30, 2026, and September 30, 2025 was approximately $146.2 million, $74.2 million, and $41.4 million, respectively.
18


 

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 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, in particular the recent advancements in artificial intelligence and the risks that such technology presents; 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, including the Company’s ability to manage integration costs; further negative ratings outlooks or downgrades of the long-term credit rating of the United States; and potential government shutdowns 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. 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, which have been obtained 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 any 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 generally understood within the banking sector and industry. A Glossary of Terms Used is included in the Appendix to this presentation.

 

Third Quarter 2026 Highlights 3 *FinWise Bancorp began trading under the symbol "FINW" on the NASDAQ exchange on 11/19/21.Pro forma tangible book value per share immediately after the IPO offering was $7.79, disclosed in the IPO registration/prospectus.

 

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. As of and for the Three Months Ended 9/30/2026 6/30/2026 9/30/2025 Income Statement Data ($ in thousands) Net interest income $ 41,918 $ 28,401 $ 18,607 Total non-interest income 60,825 23,122 18,052 Total operating revenue 102,743 51,523 36,659 Provision for credit losses (Core Portfolio + Credit Enhanced) 1 46,747 20,943 12,799 Total non-interest expense 42,744 28,306 17,449 Income from continuing operations before income taxes 13,252 2,274 6,411 Provision for income taxes from continuing operations 2,830 512 1,520 Net income from continuing operations 10,422 1,762 4,891 Income (loss) from discontinued operations, net of tax (376) 371 — Net income $ 10,046 $ 2,133 $ 4,891 Earnings per share, diluted $ 0.73 $ 0.15 $ 0.34 Balance Sheet Data ($ in thousands) Total cash and cash equivalents $ 92,572 $ 93,638 $ 105,627 Strategic program loans held-for-sale 134,661 164,906 156,718 Loans held-for-investment 505,328 482,302 533,347 Credit enhancement asset 64,247 28,322 11,214 All other assets 161,517 156,143 93,023 Total assets $ 958,325 $ 925,311 $ 899,929 Total deposits 707,601 693,799 682,310 All other liabilities 42,674 32,321 29,854 Total liabilities $ 750,275 $ 726,120 $ 712,164 Total shareholders' equity $ 208,050 $ 199,191 $ 187,765 Selected Financial Data ($ in thousands, except TBVps) Amount of loans originated $ 2,065,300 $ 1,629,920 $ 1,789,736 Credit enhanced balances $ 146,241 $ 74,229 $ 41,369 Return on average assets (annualized for quarters) 4.3 % 0.9 % 2.2 % Return on average equity (annualized for quarters) 19.9 % 4.3 % 10.6 % Net interest margin 19.58 % 13.83 % 9.09 % Efficiency ratio 41.6 % 54.9 % 47.6 % Tangible book value per share $ 15.14 $ 14.55 $ 13.84 3Q26 results are impacted by the Tallied transaction and related purchase accounting adjustments, which have no comparable impact in prior periods. Discontinued operations arising from the transaction are reflected in 3Q26 and recast in 2Q26; there were no discontinued operations in 3Q25.

 

FinWise Overview - Broad and Diversified Product Offering 5 2.1%2.1% 3.6% 0.6% 44.6%

 

US BaaS: A Large and Growing Market 6 FinWise participates in all three US embedded-finance revenue pools as a sponsor bank 1US embedded-finance net revenue to platforms and enablers (incl. sponsor banks). Bain 'Lending' = BNPL, point-of-sale and B2B lending; excludes the broader UPL market below. 2026E = Bain forecast; CAGRs 2021–2026E. Source: Bain & Company and Bain Capital, "Embedded Finance" (Sept. 2022). ²UPL = unsecured personal loans; balances and consumers as of mid-2026, originations and fintech share as of Q1 2026. Source: TransUnion US consumer credit database, "Unsecured Personal Loans Q2 2026 Highlights" (Aug. 2026).

 

A Proven Growth Story 7 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 8 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. 68 (or 33%) of our 209 FTEs at the end of 3Q26 are in IT, Compliance, Risk Mgmt., and BSA/ AML functions

 

Strategic Program Lending Overview: Roles of the Bank and Fintech 9 Fintechs Establish Reserve Deposit Accounts to Guaranty Settlement and 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: 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 Dates: -Credit Enhanced Lending • Launched: mid-2025 (full launch) -Payments (MoneyRails) • Launched: mid-2025 -BIN Sponsorship (Cards) • Launched: late 2023 -Strategic Program Lending • Launched: 2016 (has operated without interruption) -FinWise and Upstart have mutually agreed to end lending sponsorship relationship, effective September 30, 2026. -Subsequent to 2Q26 quarter-end, FinWise signed a new strategic partnership, and expects to share the partner's name in the coming quarters. This is a well-established prepaid card provider that will use our MoneyRails and BIN Sponsorship services.

 

12 Fintech Sales Pipeline Attractive Revenue Potential1 1Pipeline reflects prospective partner opportunities at various stages of discussion and is not a guarantee of future business. There can be no assurance that any or all of these opportunities will result in signed agreements or generate revenue, and some may not proceed to closing.

 

Credit Enhanced Lending - A Lower Risk Product 1The fintech partner refers the borrower through joint marketing efforts, and FinWise originates the loan. 13

 

Credit Enhanced Lending: Partner Risk Management Note: Under Credit Enhanced Lending, the fintech partner contractually agrees to cover credit losses on referred loans and maintains a cash reserve deposit account at FinWise, which FinWise can access to recover charge-offs. See Glossary 14 Partners must pass three credit tests before launch, then are monitored weekly, monthly and quarterly

 

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 actively 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 13.6% at end of 3Q26. • 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. *ACL = Allowance for Credit Losses; SP = Strategic Programs; HFI = Held for Investment. 3Q26 includes net recoveries of $0.2M for Residential RE.

 

...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 45% of the portfolio as of 3Q26. ◦ 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 14.9% of the portfolio as of 3Q25 to 12.7% as of 3Q26. • 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. • CRE Non-SBA (12.5% as of 3Q26) is 97.5% Owner Occupied

 

Deposit Composition 21 Total Period End Deposits: $707.6 Million (as of September 30, 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.

 

Selected Financial Information 22

 

Consistent TBV Growth Ahead of Peers Tangible Book Value (TBV) Per Share (Non-GAAP)1 23 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. 2Bank 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, Happen, Inc., Pathward Financial, Inc. Note: Bank level Call Report financial data used where holding company consolidated financials unavailable; 2Q 2026 financial data used where 3Q 2026 holding company consolidated and bank level Call Report financials are unavailable. Source: S&P Capital IQ Pro Indexed Change in Total TBV Since FINW IPO (Q421)1 vs Select Bank2 and Fintech Peers3

 

Diversified Income Sources 24 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 Continuing operations results in 3Q26 included a $6.5 million bargain purchase gain recognized in connection with the Tallied transaction, which was recorded in non-interest income.

 

Disciplined Expense Management (adjusting for Credit Enhancement Expense) Increase in total non-interest expense mostly due to increases in Credit Enhancement Servicing and Guarantee Expense resulting from growth in credit enhanced loans. Salaries & employee benefit expenses remain relatively well managed. Outlook Commentary: Remain focused on positive operating leverage; Expense growth to be correlated to revenue production. 25 3Q25 2Q26 3Q26 Full Time Employees (FTEs) 194 206 209 Efficiency Ratio (Non-GAAP)2 47.6% 54.9% 41.6% 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 26 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 27

 

Non-GAAP Reconciliations 28 (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) September 30, 2026 June 30, 2026 September 30, 2025 Total shareholders' equity $ 208,050 $ 199,191 $ 187,765 Goodwill — — — Other intangibles — — — Less: total intangible assets — — — Tangible shareholders' equity1 $ 208,050 $ 199,191 $ 187,765 Tangible book value per share1 $ 15.14 $ 14.55 $ 13.84 Efficiency Ratio For the Three Month Period Ending ($ in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Non-interest expense $ 42,744 $ 28,306 $ 17,449 Net interest income 41,918 28,401 18,607 Non-interest income 60,825 23,122 18,052 Adjusted operating revenue $ 102,743 $ 51,523 $ 36,659 Efficiency ratio2 41.6 % 54.9 % 47.6 %

 

Non-GAAP Reconciliations (continued) 29 (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) September 30, 2026 June 30, 2026 September 30, 2025 Non-interest expense (GAAP) $ 42,744 $ 28,306 $ 17,449 Less: credit enhancement program expenses 24,333 12,730 1,968 Adjusted non-interest expense 18,411 15,576 15,481 Net interest income (GAAP) 41,918 28,401 18,607 Less: credit enhancement interest 24,333 12,730 1,968 Adjusted net interest income 17,585 15,671 16,639 Total non-interest income (GAAP) 60,825 23,122 18,052 Less: credit enhancement income 45,392 14,944 8,762 Adjusted non-interest income 15,433 8,178 9,290 Adjusted operating revenue $ 33,018 $ 23,849 $ 25,929 Adjusted efficiency ratio3 55.8 % 65.3 % 59.7 %

 

Glossary of Terms Used 30 ACH (The Automated Clearing House). Electronic funds-transfer system that facilitates payments in the U.S. and internationally. The ACH is run by Nacha. API (Application Programming Interface). Set of defined rules that enable different applications to communicate with each other. It acts as an intermediary layer that processes data transfers between systems, letting companies open their application data and functionality to external third-party developers, business partners, and internal departments within their companies. Banking-as-a-Service (BaaS). Banking model in which licensed banks integrate their digital banking services directly into the products of other non-bank businesses. This allows non-bank businesses to offer their customers digital banking services such as mobile bank accounts, debit cards, loans and payment services, without needing to acquire a banking license of their own. The bank's system communicates via APIs and webhooks with that of the non-bank's business, enabling the end customer to access banking services directly through the non-bank’s website or app. BIN (Bank Identification Number) Sponsorship. BIN sponsorship allows fintech businesses to quickly gain direct access to the payment processing and card management services provided by the likes of Visa or Mastercard without going through the process of joining a major card scheme. It provides fintechs with quickest way to launch a financial product with a debit, credit or prepaid card attached. Credit Enhanced Lending. FinWise generates interest income from existing and potential new strategic programs through contractual interest earned on loans maintained on the FinWise balance sheet. Fintech strategic programs using this product are required to hold a deposit account at FinWise against which charge-offs are recovered, and which is trued up monthly post any charge-offs. FedNow. The clearing service for financial institutions to provide immediate end-to-end payments to customers. The key difference between this service and the Fed’s previous system is that FedNow will be online 24/7, processing transactions in real time. HFI (Held for Investment). When a reporting entity holds an originated or purchased loan for which it has the intent and ability to hold for the foreseeable future or to maturity or payoff, the loan should be classified as held-for-investment. Loans held for investment are reported on the balance sheet at their amortized cost basis. HFS (Held for Sale). When a reporting entity originates or purchases a loan with the intent to sell the loan to another entity (e.g., a government sponsored enterprise). Mastercard RPPS (Remote Payment and Presentment Service). Mastercard RPPS optimizes electronic bill payment by connecting banks to billers. It offers a single, reliable connection for electronic payment providers to help with fast & secure consumer bill payments. Mastercard Send. Mastercard’s offering in the real-time personal payments arena. Senders can immediately make “push payments” to bank accounts, mobile wallets, prepaid debit cards, or targeted cash- out locations. The sender can initiate a Mastercard Send transaction with just the recipient’s debit card number. MoneyRailsTM is FinWise's Payments hub, which is a single-window platform through which companies can execute all their payments, and issue virtual cards. MoneyRails also provides the ability to safeguard funds in an array of account types: FBO and subaccounts to satisfy FinTechs’ deposit needs, as well as traditional Savings, Checking, Certificate of Deposits, etc. . Payment hubs increase fund control and visibility, reduce the risk associated with numerous fragmented payment processes, and improve overall operating efficiency. NIM: Net Interest Margin SBA 7(a) loans. Small-business loans issued by a private lender and partially backed by the U.S. Small Business Administration. SMBs. Small to medium-sized businesses. Strategic Program Lending - SPL (sometimes referred as Marketplace Lending). Lending predominately done through fintech platforms that connect borrowers with lenders. TBV: Tangible Book Value The Clearing House RTP. A real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. All RTP payments are processed by The Clearing House. When you pay your utility bill for the month using RTP, your bank sends message to network which includes the details of the payment. The Clearing House then processes the message and routes it to utility company's bank, completing the payment. Visa Direct. A type of Original Credit Transaction (OCT) that allows fast and secure payment transfers to customers using their card details. Unlike with other payment methods, where it can typically take up to 24 hours for the funds to be transferred to the customer, Visa Direct transactions normally complete near-instantly.

 

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