# EDGAR Filing Document

**Accession Number:** 0001856365
**File Stem:** 0001140361-23-009427
**Filing Date:** 2023-3
**Character Count:** 33002
**Document Hash:** 14992049b876eabb2e62123d2f3c7e74
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-009427.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001140361-23-009427

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 39

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Finwise Bancorp
- **CENTRAL INDEX KEY:** 0001856365
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 830356689
- **STATE OF INCORPORATION:** UT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40721
- **FILM NUMBER:** 23693987

**BUSINESS ADDRESS:**
- **STREET 1:** 756 EAST WINCHESTER STREET #100
- **CITY:** MURRAY
- **STATE:** UT
- **ZIP:** 84107
- **BUSINESS PHONE:** 801-545-6003

**MAIL ADDRESS:**
- **STREET 1:** 756 EAST WINCHESTER STREET #100
- **CITY:** MURRAY
- **STATE:** UT
- **ZIP:** 84107

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### 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): March 1, 2023

## FINWISE BANCORP
(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Utah**<br>| **001-40721**<br>| **83-0356689**<br>|
| (State or other jurisdiction of incorporation or organization) | (Commission file number) | (I.R.S. employer identification no.) |

---

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| | |
|:---|:---|
| **756 East Winchester St., Suite 100**<br>**Murray, Utah** | **84107** |
| (Address of principal executive offices) | (Zip code) |

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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:

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☐ 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.&nbsp;&nbsp;&nbsp;&nbsp; ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of exchange on which registered</u> |
| Common Stock, par value $0.001 per share<br>| FINW<br>| The NASDAQ Stock Market LLC<br>|

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

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FinWise Bancorp has prepared materials for investors and other business information. A copy of the materials is furnished as Exhibit 99.1 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 99.1 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.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

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| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| [99.1](brhc10049038_ex99-1.htm) | Investor Presentation of FinWise Bancorp (furnished pursuant to Regulation FD). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, FinWise Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| DATE: March 1, 2023 | **FINWISE BANCORP** |
|  | /s/ Javvis Jacobson |
|  | Name: Javvis Jacobson |
|  | Title: Chief Financial Officer and Executive Vice President |

---

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## Exhibit 99.1

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**Exhibit 99.1**<br>

**** <br> ![](brhc10049038_ex99-1slide1.jpg)

Investor Presentation March 2023

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![](brhc10049038_ex99-1slide2.jpg)

Disclaimer "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current views of FinWise Bancorp ("FinWise," "we," "us," or the "Company") with respect to, among other things, future events and its financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "project," "projection," "forecast," "budget," "goal," "target," "would," "aim" and "outlook," or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about the Company's industry and management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company's control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates and projections will be achieved. Accordingly, the Company cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause the Company's actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: (a) the success of the financial technology industry, the development and acceptance of which is subject to a high degree of uncertainty, as well as the continued evolution of the regulation of this industry; (b) the ability of the Company's Strategic Program service providers to comply with regulatory regimes, including laws and regulations applicable to consumer credit transactions, and the Company's ability to adequately oversee and monitor its Strategic Program service providers; (c) the Company's ability to maintain and grow its relationships with its Strategic Program service providers; (d) changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, accounting, tax, trade, monetary and fiscal matters, including the application of interest rate caps or maximums; (e) the Company's ability to keep pace with rapid technological changes in the industry or implement new technology effectively; (f) conditions relating to the Covid-19 pandemic, including the severity and duration of the associated economic slowdown either nationally or in the Company's market areas, and the response of governmental authorities to the Covid-19 pandemic and the Company's participation in Covid-19-related government programs such as the Paycheck Protection Program; (g) system failure or cybersecurity breaches of the Company's network security; (h) the Company's reliance on third-party service providers for core systems support, informational website hosting, internet services, online account opening and other processing services; (i) general economic conditions, either nationally or in the Company's market areas (including interest rate environment, government economic and monetary policies, the strength of global financial markets and inflation and deflation), that impact the financial services industry and/or the Company's business; (j) increased competition in the financial services industry, particularly from regional and national institutions and other companies that offer banking services; (k) the Company's ability to measure and manage its credit risk effectively and the potential deterioration of the business and economic conditions in the Company's primary market areas; (l) the adequacy of the Company's risk management framework; (m) the adequacy of the Company's allowance for loan losses ("ALL"); (n) the financial soundness of other financial institutions; (o) new lines of business or new products and services; (p) changes in Small Business Administration ("SBA") rules, regulations and loan products, including specifically the Section 7(a) program, changes in SBA standard operating procedures or changes to the status of the Bank as an SBA Preferred Lender; (q) changes in the value of collateral securing the Company's loans; (r) possible increases in the Company's levels of nonperforming assets; (s) potential losses from loan defaults and nonperformance on loans; (t) the Company's ability to protect its intellectual property and the risks it faces with respect to claims and litigation initiated against the Company; (u) the inability of small- and medium-sized businesses to whom the Company lends to weather adverse business conditions and repay loans; (v) the Company's ability to implement aspects of its growth strategy and to sustain its historic rate of growth; (w) the Company's ability to continue to originate, sell and retain loans, including through its Strategic Programs; (x) the concentration of the Company's lending and depositor relationships through Strategic Programs in the financial technology industry generally; (y) the Company's ability to attract additional merchants and retain and grow its existing merchant relationships; (z) interest rate risk associated with the Company's business, including sensitivity of its interest earning assets and interest bearing liabilities to interest rates, and the impact to its earnings from changes in interest rates; (aa) the effectiveness of the Company's internal control over financial reporting and its ability to remediate any future material weakness in its internal control over financial reporting; (bb) potential exposure to fraud, negligence, computer theft and cyber-crime and other disruptions in the Company's computer systems relating to its development and use of new technology platforms; (cc) the Company's dependence on its management team and changes in management composition; (dd) the sufficiency of the Company's capital, including sources of capital and the extent to which it may be required to raise additional capital to meet its goals; (ee) compliance with laws and regulations, supervisory actions, the Dodd-Frank Act, capital requirements, the Bank Secrecy Act, anti-money laundering laws, predatory lending laws, and other statutes and regulations; (ff) the Company's ability to maintain a strong core deposit base or other low-cost funding sources; (gg) results of examinations of the Company by its regulators, including the possibility that its regulators may, among other things, require the Company to increase its ALL or to write-down assets; (hh) the Company's involvement from time to time in legal proceedings, examinations and remedial actions by regulators; (ii) further government intervention in the U.S. financial system; (jj) natural disasters and adverse weather, acts of terrorism, pandemics, an outbreak of hostilities or other international or domestic calamities, and other matters beyond the Company's control; (kk) future equity and debt issuances;; and (ll) other factors listed from time to time in the Company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent reports on Form 10-Q and Form 8-K. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether because of the new information, future developments or otherwise.

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![](brhc10049038_ex99-1slide3.jpg)

Disclaimer Market and industry data This presentation includes estimates regarding market and industry data. Unless otherwise indicated, information concerning our industry and the markets in which we operate, including our general expectations, market position, market opportunity, and market size, are based on our management's knowledge and experience in the markets in which we operate, together with currently available information obtained from various sources, including publicly available information, industry reports and publications, surveys, our clients, trade and business organizations and other contacts in the markets in which we operate. Certain information is based on management estimates, which have been derived from third-party sources, as well as data from our internal research. In presenting this information, we have made certain assumptions that we believe to be reasonable based on such data and other similar sources and on our knowledge of, and our experience to date in, the markets in which we operate. While we believe the estimated market and industry data included in this presentation are generally reliable, such information, which is derived in part from management's estimates and beliefs, is inherently uncertain and imprecise. 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." Our management uses these non-GAAP financial measures in its analysis of our performance. We believe these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, we acknowledge that our non-GAAP financial measures have a number of limitations. As such, you should not view these measures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies use. A reconciliation of such non-GAAP financial measures to the most closely related 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. Solely for convenience, we refer to our trademarks in this presentation without the® or the™ or symbols, but such references are not intended to indicate that we will not fully assert under applicable law our trademark rights. 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.

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![](brhc10049038_ex99-1slide4.jpg)

Leadership Team Kent Landvatter Mr. Landvatter joined FinWise and its wholly-owned Utah state-chartered banking subsidiary, FinWise Bank (the "Bank"), in September 2010 as the President and Chief Executive Officer. Mr. Landvatter has over 40 years of financial services and banking experience, including experience with distressed banks and serving as the president of two de novo banks, Comenity Capital Bank and Goldman Sachs Bank, USA. CEO/President Javvis Jacobson Mr. Jacobson joined the Bank in March 2015 as the Executive Vice President and Chief Financial Officer. Mr. Jacobson has over 20 years of financial services experience, including at Deloitte, where he served for several years managing audits of financial institutions. Mr. Jacobson also served for several years as the Chief Financial Officer of Beehive Credit Union. CFO/EVP Jim Noone Mr. Noone joined the Bank in February 2018 and was named Executive Vice President and Chief Credit Officer in June 2018 and Chief Strategy Officer in October 2022. Mr. Noone has 20 years of financial services experience including commercial and investment banking as well as private equity. Prior to joining the Bank, Mr. Noone served as Executive Vice President of Prudent Lenders, an SBA service provider from 2012 to 2018. CSO/CCO/EVP Dawn Cannon Ms. Cannon joined the Bank in March 2020 as the Senior Operating Officer and was named Executive Vice President and Chief Operating Officer in July 2020. Ms. Cannon has over 20 years of banking experience, including serving as the Executive Vice President of Operations of EnerBank, an industrial bank that focused on lending programs similar to our POS lending program, where she was instrumental in building it from 23 to 285 full time employees and from $10 million to $1.4 billion in total assets. COO/EVP Michael O'Brien Mr. O'Brien joined the Bank in September 2021 as Executive Vice President, Chief Compliance and Risk Officer and Corporate Counsel. Mr. O'Brien has over 20 years of legal, compliance and risk management experience in financial services. Mr. O'Brien also previously served as Chief Compliance Officer of EnerBank USA, a Utah industrial bank. He is currently licensed to practice law in Utah and Washington, D.C. CCO/CRO/EVP Over 120 Years of Combined Banking Experience

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![](brhc10049038_ex99-1slide5.jpg)

Key Investment Highlights Highly-profitable fintech lending model with compelling growth opportunities Compelling market advantages with continued compliance and IT investments beginning in 2016 Unique bank that closely integrates with fintech lending platforms Diverse revenue streams Disciplined underwriting and portfolio management processes Historically stable deposits Seasoned management team with a proven track record

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![](brhc10049038_ex99-1slide6.jpg)

Resilient Business Model Through Prior Cycles As of or for the twelve months ended December 31, 2022 Financial Highlights1 Total Assets: Net Income: ROAE: ROAA: $402.2M $25.1M 19.6% 6.4% Total assets as of December 31, 2020, December 31, 2021, and December 31, 2022, include approximately $107.1 million, $1.1 million, and $0.6 million in PPP loans, respectively Note: Annual period financial data represents the annual period ending December 31. We calculate our average equity for a given reporting period by dividing (a) the sum of our total shareholder's equity balance as of the close of business (i) at the beginning of the relevant reporting period and (ii) at the ending of the relevant reporting period, by (b) two.

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![](brhc10049038_ex99-1slide7.jpg)

Diverse Business Lines and Revenue Streams Note: Financial data is for the year end December 31, 2022. "Other", "Change in Fair Value on investment in BFG", and "SBA PPP" revenue not included in Revenue Contribution Breakdown. Line of Business 2022 Gross Revenue Contribution Balance Sheet Strategy Strategic Programs 68.7% Strategic Program must have a reserve deposit account Mostly originate to sell Selective increase in HFI is part of long-term strategy SBA 7(a) Lending 25.8% Sell guaranteed portion at a premium Expand SBA relationships to grow deposits and POS financing Residential and Commercial Real Estate Lending 3.3% Originate for investment POS Lending Program 0.4% Originate for investment

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![](brhc10049038_ex99-1slide8.jpg)

Total Loan Portfolio Breakdown as of December 31, 2022 Loans guaranteed by the SBA include $0.6 million in PPP loans as of December 31, 2022 Guaranteed by the SBA and Strategic Program HFS 28.4% Rates Above 36% Rates Below 36% $260.2M

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![](brhc10049038_ex99-1slide9.jpg)

Top-Tier Profitability Note: According to the FDIC website, the data for all US Banks represents 5,177, 5,001, and 4,839 banks for 2019, 2020, and 2021, respectively. Annual period financial data represents the annual period ending December 31. For ROAE and ROAA, we calculate our average assets and average equity for a given period by dividing the sum of our total asset balance or total shareholder's equity balance, as the case may be, as of the beginning of the relevant period and at the end of the relevant period and dividing by two. Return on Average Equity Return on Average Assets

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![](brhc10049038_ex99-1slide10.jpg)

Profitability Metrics Compare Favorably to All US Banks Note: Please see Appendix for non-GAAP to GAAP reconciliations. According to the FDIC website, the data for all US Banks represents 5,177, 5,001, and 4,839 banks for 2019, 2020, and 2021, respectively. Annual period financial data represents the annual period ending December 31. For Noninterest Income to Average Assets ratio, we calculate our average assets for a given period by dividing the sum of our total asset balance as of the beginning of the relevant period and at the end of the relevant period and dividing by two. Efficiency Ratio (Non-GAAP) Net Interest Margin Noninterest Income to Average Assets

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![](brhc10049038_ex99-1slide11.jpg)

Significantly Well-Capitalized Note: Q4 '21 financial data is as of December 31, 2021; Q3 '22 financial data is as of September 30, 2022; Q4 '22 financial data is as of December 31, 2022; FinWise Bank has elected to opt into the Community Bank Leverage Ratio framework starting in 2020 FinWise Bancorp and FinWise Bank have consistently maintained regulatory capital ratios significantly above the federal "well-capitalized" regulatory standards

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Historical Track Record of Strong Asset Quality Note: Q4 '21 financial data is as of or for the three-month period ending December 31, 2021; Q3 '22 financial data is as of or for the three-month period ending September 30, 2022; Q4 '22 financial data is as of or for the three-month period ending December 31, 2022 Credit risk managed through combination of policy, data and pricing Disciplined underwriting has delivered historical track record of strong asset quality SP HFI portfolio NCOs are below management loss assumptions but approaching highest loss rates experienced historically Allowance for Loan Losses / Total Loans was 4.6% as of December 31, 2022 Total Loans of $260.2M includes $50.2M of loans guaranteed by the SBA (19.3%) and $23.6M of Strategic Program HFS loans (9.1%) $6.7M, or 55.9% of Total Allowance, allocated to Strategic Program loans as of December 31, 2022 Allowance for Loan Losses / Total Loans Net Chargeoffs by Line of Business Key Highlights

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![](brhc10049038_ex99-1slide13.jpg)

Retained Loan Portfolio Overview Note: 4Q '22 financial data is as of or for the three-month period ending December 31, 2022. Loans Guaranteed by the SBA include $0.6 million of PPP loans as of December 31, 2022. $260.2M 4Q '22 Loan Originations Loan Portfolio as of December 31, 2022

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Strategic Programs – Unique and Differentiated Business Model sets FinWise Apart Note: Q4 '21 financial data is as of or for the three-month period ending December 31, 2021; Q3 '22 financial data is as of or for the three-month period ending September 30, 2022; Q4 '22 financial data is as of or for the three-month period ending December 31, 2022 Loan volume generated by origination service providers Strategic Program service providers serve as sub-servicers and perform typical primary servicing duties Each Strategic Program establishes a "reserve" deposit account with FinWise Extensive onboarding process and ongoing due diligence to confirm service providers adherence to compliance standards Strategic Program Gain on Sale of Loans, net and Program Fees. 4Q '22 Strategic Program Loans on Balance Sheet Revenue Model / Opportunities Business Line Differentiators $47.8M Interest Income HFS Interest Income HFI Minimum program fees Other Fees

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![](brhc10049038_ex99-1slide15.jpg)

Strategy Leverages Unique Position as Originating Bank Informs Strategy Diverse Strategic Service Providers Scalable Lending Partner Strategy Supports Risk Diversification and Profitability Prime Consumer Programs Subprime Consumer Programs Commercial Programs Deposit Programs DEVELOP through other Channels Originate and RETAIN Originate and SELL Assets Proprietary FinViewTM Analytic Platform

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Case Study – Cumulative Charge-Off Curve by Programs 2x x Time on Books (months) by Vintage Data Informs Our Retention Decisions

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![](brhc10049038_ex99-1slide17.jpg)

SBA 7(a) Lending Overview Note: Q4 '21 financial data is as of or for the three-month period ending December 31, 2021; Q3 '22 financial data is as of or for the three-month period ending September 30, 2022; Q4 '22 financial data is as of or for the three-month period ending December 31, 2022 Experienced management team Ability to analyze loan performance data Loan processing structure and ability to leverage relationship with Business Funding Group, LLC Strict underwriting, servicing and proactive collection policies SBA Gain on Sale of Loans, net and Servicing Fees Revenue Model / Opportunities Business Line Differentiators Sell SBA guaranteed portions at premiums Retain all servicing rights and the unguaranteed portion Potential to cross-sell SBA customers Active participant in the PPP in 2020 (99% forgiven as of 4Q '22)

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![](brhc10049038_ex99-1slide18.jpg)

Residential and Commercial Real Estate Lending Overview Branch-based Consumer and Commercial Community Bank Offers Strategic Benefits to Broader FinWise Business Lines Branch Map Business Line Differentiators Focus on building a core deposit base Al loans held on balance sheet High-touch, relationship banking approach Products Overview Strategic Benefits Consumer and commercial lending and deposit taking Construction lending with focus on single-family rental Significant source of deposits Historically stable and strong profitability

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Consistent Tangible Book Value per share Growth Note: "Tangible book value per share" is defined as book value per share less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of each period. The most directly comparable GAAP financial measure is book value per share. We had no goodwill or other intangible assets as of any of the dates indicated. We have not considered loan servicing rights or loan trailing fee asset as an intangible asset for purposes of this calculation. As a result, tangible book value per share is the same as book value per share as of each of the dates indicated. Please see Appendix for non-GAAP to GAAP reconciliations. Q4 '21 financial data is as of or for the three-month period ending December 31, 2021; Q3 '22 financial data is as of or for the three-month period ending September 30, 2022; Q4 '22 financial data is as of or for the three-month period ending December 31, 2022 Net Income ($M) Earnings driven by favorable net interest margin, non-interest income, and efficiency ratio Tangible Book Value Per Share (Non-GAAP) History of significant, consistent tangible book value per share growth

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Significant Balance Sheet Growth Note: Q4 '21 financial data is as of or for the three-month period ending December 31, 2021; Q3 '22 financial data is as of or for the three-month period ending September 30, 2022; Q4 '22 financial data is as of or for the three-month period ending December 31, 2022 Total Loan Originations ($M) Total Assets ($M) Total Loans Outstanding ($M) Total Deposits ($M)

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![](brhc10049038_ex99-1slide21.jpg)

Deposit Base Branch Deposits Significant source of deposits Strategic Program Deposits Reserve Accounts – historically highly correlated to origination volume Operating Accounts Health Savings Account Deposits Core HSA deposits working with Lively, Inc., a modern Health Savings Account provider SBA 7(a) Deposit Program and Other Piloting a new deposit product targeting SBA 7(a) customers Exploring additional opportunities Core Deposit Strategy Commentary

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IV. Appendix

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![](brhc10049038_ex99-1slide23.jpg)

Non-GAAP to GAAP Reconciliation Tangible Shareholders' Equity and Tangible Book Value Per Share Efficiency Ratio Note: "Tangible shareholders' equity" is defined as total shareholders' equity less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholders' equity. We had no goodwill or other intangible assets as of any of the dates indicated. We have not considered loan servicing rights or loan trailing fee asset as an intangible asset 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. "Efficiency ratio" is defined as total noninterest expense divided by the sum of net interest income and noninterest income. We believe this measure is important as an indicator of productivity because it shows the amount of revenue generated for each dollar spent.

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FinView™ Analytics Platform: Buildout Drives Continued Scale Near-term strategic priority; timing of product development dependent on several factors, including timing for new hires 2017: Began using API to connect with Strategic Program service providers 2018: FinView™ used to analyze retention of selected Strategic Program loans 2020: Enhanced enterprise data warehouse to more efficiently capture loan origination and servicing data 2021: Continued build out of FinView's™ business analytics module; building an updated version of its API 2016 Strategic Program Service Providers: 1 2017 API v1 Strategic Program Service Providers: 4 2018 Manual credit insights Strategic Program Service Providers: 7 API v1 2019 Manual credit insights Strategic Program Service Providers: 9 API v1 2020 Manual credit insights Strategic Program Service Providers: 8 API v1 Enterprise Data Warehouse 2021 Manual credit insights Strategic Program Service Providers: 11 API v1 Upgrade Enterprise Data Warehouse Start Development API v2 2022 Manual credit insights Strategic Program Service Providers: 11+ API v1 Enterprise Data Warehouse Continued Development API v2 Business Intelligence Analytics Machine Learning and AI The compilation of millions of loan origination and servicing data points creates deep insights that drive more informed decision-making across asset classes, and enables more efficient product launches 2023+ Manual credit insights Strategic Program Service Providers: 11+ API v1 Enterprise Data Warehouse Launch API v2 Business Intelligence Analytics Machine Learning and AI

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Uniquely Positioned Competitive Landscape Branch-Lite P O P Low-Cost Funding P P O Tech-Driven Banking Solutions P O O Proprietary Data Analytics Platform P O O Robust Underwriting & Risk Management P P O Capital Efficient Business Model P O P Nationwide Lending Platform P O P Diversified Loan Portfolio / Revenue Streams P O P Flexible and Cutting-Edge API P O O Traditional Banks Nonbank Financial Services

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![](brhc10049038_ex99-1slide26.jpg)

Point of Sale Lending Program Overview Product Unsecured Installment Loans Interest bearing and 0% Interest (3, 6, 12 or 24 months) Strategic Goals Support small business revenue growth Profitably grow balance sheet Merchant Details 50+ merchants across 16 states (and growing) Home improvement, spa, musical instruments and other Tech-Focus Mix of FinView™ and "off-the-shelf" technology solutions Growth Opportunities POS lending market is significant in size, presenting material upside for balance sheet expansion Installment Loans Offer Growth Opportunities

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