# EDGAR Filing Document

**Accession Number:** 0001856365
**File Stem:** 0001628280-25-035927
**Filing Date:** 2025-7
**Character Count:** 94962
**Document Hash:** c0094da8fa934ca7b047dabb09679171
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-035927.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001628280-25-035927

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20250724

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Finwise Bancorp
- **CENTRAL INDEX KEY:** 0001856365
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 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:** 251147069

**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

?xml version='1.0' encoding='ASCII'? finw-20250724

**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): July 24, 2025

**FINWISE BANCORP**

(Exact name of registrant as specified in its charter)

---

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

---

---

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

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;&nbsp;&nbsp;&nbsp;&nbsp; **☐**

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

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

---

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**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 July 24, 2025, reporting the Company's financial results for the fiscal quarter ended June 30, 2025.

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 | <u>[Press Release dated](finw-20250630earningsrelea.htm)[July 24](finw-20250630earningsrelea.htm)[, 2025](finw-20250630earningsrelea.htm)</u> |
| 99.2 | <u>[Investor Presentation of FinWise Bancorp dated](finw_investorxpresentati.htm)[July](finw_investorxpresentati.htm)[2025 (furnished pursuant to Regulation FD).](finw_investorxpresentati.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

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

---

| | |
|:---|:---|
| DATE: July 24, 2025 | **FINWISE BANCORP** |
| | /s/ Robert Wahlman |
| | Robert Wahlman |
| | Chief Financial Officer and Executive Vice President |

---

## Exhibit 99.1

![image_0.jpg](image_0.jpg) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Exhibit 99.1**

**FINWISE BANCORP REPORTS SECOND QUARTER 2025 RESULTS**

***- Loan Originations of $1.5 Billion -***

***- Net Income of $4.1 Million -***

***- Diluted Earnings Per Share of $0.29 -***

**MURRAY, UTAH — July 24, 2025 (GLOBE NEWSWIRE)** — FinWise Bancorp (NASDAQ: FINW) ("FinWise" or the "Company"), parent company of FinWise Bank (the "Bank"), today announced results for the quarter ended June 30, 2025.

**Second Quarter 2025 Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loan originations totaled $1.5 billion, compared to $1.3 billion for the quarter ended March 31, 2025, and $1.2 billion for the second quarter of the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest income was $14.7 million, compared to $14.3 million for the quarter ended March 31, 2025, and $14.6 million for the second quarter of the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income was $4.1 million, compared to $3.2 million for the quarter ended March 31, 2025, and $3.2 million for the second quarter of the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Diluted earnings per share ("EPS") were $0.29 for the quarter, compared to $0.23 for the quarter ended March 31, 2025, and $0.24 for the second quarter of the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Efficiency ratio<sup>1</sup> was 59.5%, compared to 64.8% for the quarter ended March 31, 2025, and 66.8% for the second quarter of the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonperforming loan balances were $39.7 million as of June 30, 2025, compared to $29.9 million as of March 31, 2025, and $27.9 million as of June 30, 2024. Nonperforming loan balances guaranteed by the Small Business Administration ("SBA") were $21.2 million, $15.1 million, and $16.0 million as of June 30, 2025, March 31, 2025, and June 30, 2024, respectively

"FinWise delivered solid operating and financial momentum coming into the second quarter, as the components of our growth strategy began to successfully come together and the team executed well," said Kent Landvatter, Chairman and CEO of FinWise Bancorp. "We posted strong loan originations of $1.5 billion, maintained solid revenue and remained disciplined on expense management, all of which contributed to growing profitability. Tangible book value per share also continued to increase, ending the quarter at $13.51<sup>2</sup>. We are also encouraged by the early traction of our new products and remain highly confident that the infrastructure investments of the past two years will support strong, long-term growth and shareholder value."

<sup>1</sup> See "Reconciliation of Non-GAAP to GAAP Financial Measures" for a reconciliation of this non-GAAP measure.

<sup>2</sup> See footnote 2 in the "Selected Financial and Other Data" table.

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**Selected Financial and Other Data**

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| | | | |
|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| *($ in thousands, except per share amounts)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Amount of loans originated | $1483179 | $1264604 | $1170904 |
| Net income | $4097 | $3189 | $3180 |
| Diluted EPS | $0.29 | $0.23 | $0.24 |
| Return on average assets | 2.0% | 1.7% | 2.1% |
| Return on average equity | 9.2% | 7.4% | 7.9% |
| Yield on loans | 11.70% | 12.31% | 14.89% |
| Cost of interest-bearing deposits | 4.07% | 4.01% | 4.80% |
| Net interest margin | 7.81% | 8.27% | 10.31% |
| Efficiency ratio<sup>(1)</sup> | 59.5% | 64.8% | 66.8% |
| Tangible book value per share<sup>(2)</sup> | $13.51 | $13.42 | $12.61 |
| Tangible shareholders' equity to tangible assets<sup>(2)</sup> | 21.6% | 22.0% | 26.8% |
| Leverage ratio (Bank under CBLR) | 18.0% | 18.8% | 20.8% |
| Full-time equivalent employees | 200 | 196 | 191 |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;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. See "Reconciliation of Non-GAAP to GAAP Financial Measures" for a reconciliation of this measure to its most comparable GAAP 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.

(2)&nbsp;&nbsp;&nbsp;&nbsp;Tangible shareholders' equity to tangible assets is considered a non-GAAP financial measure. Tangible shareholders' equity is defined as total shareholders' equity less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholder's equity to total assets. The Company had no goodwill or other intangible assets at the end of any period indicated. The Company has not considered loan servicing rights or loan trailing fee assets as intangible assets for purposes of this calculation. As a result, tangible shareholders' equity is the same as total shareholders' equity at the end of each of the periods indicated.

***<u>Net Interest Income and Net Interest Margin</u>***

Net interest income was $14.7 million for the second quarter of 2025, compared to $14.3 million for the prior quarter and $14.6 million for the prior year period. The increase from the prior quarter was primarily due to an increase in the Bank's average balances for the Strategic Program loans held-for-sale portfolio of $39.8 million and the held for investment portfolio of $31.1 million, partially offset by the reversal of interest on new nonaccrual loans and increased average balances in brokered certificates of deposit accounts. The increase from the prior year period was primarily due to volume increases in loans held-for-sale and held for investment portfolios and rate reductions in the brokered CD portfolio partially offset by growth of deposits, particularly brokered certificates of deposit, to support the growth of the loan portfolio. Our strategy to reduce the risk profile of FinWise by growing our loan portfolio with better credit quality but lower yielding loan products is reflected in the increased net interest income but with a lower average yield compared to earlier periods.

Loan originations totaled $1.5 billion for the second quarter of 2025, compared to $1.3 billion for the prior quarter and $1.2 billion for the prior year period reflecting new partners ramping up originations and certain long-term partners growing originations.

Net interest margin for the second quarter of 2025 was 7.81%, compared to 8.27% for the prior quarter and 10.31% for the prior year period. The decrease in net interest margin from the prior quarter and prior year period was attributable to accrued interest reversals on loans migrating to nonaccrual status totaling $0.6 million as well as the continued addition of higher quality but lower yielding loans as FinWise continues to diversify and stabilize its loan portfolio.

------

***<u>Provision for Credit Losses</u>***

The Company's provision for credit losses was $4.7 million for the second quarter of 2025, compared to $3.3 million for the prior quarter and $2.4 million for the prior year period. The increase in the provision for credit losses from the prior quarter and the prior year period resulted primarily from higher net charge-offs and growth of the credit enhanced loan portfolio offset in part by a change in qualitative factors for certain low risk segments of the owner occupied commercial real estate portfolio. Also contributing to the increase in the provision for credit losses from the prior year period was the expansion in both Strategic Program loans held-for-investment and other held for investment loans.

***<u>Non-interest Income</u>***

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Non-interest income |  |  |  |
| &nbsp;&nbsp;Strategic Program fees | $5404 | $4962 | $4035 |
| &nbsp;&nbsp;Gain on sale of loans | 1483 | 846 | 356 |
| &nbsp;&nbsp;SBA loan servicing fees, net | (96) | 178 | 204 |
| &nbsp;&nbsp;Change in fair value on investment in BFG | 300 | 400 | (200) |
| &nbsp;&nbsp;Credit enhancement income | 2275 | 85 | 39 |
| &nbsp;&nbsp;Other miscellaneous income | 971 | 1339 | 732 |
| Total non-interest income | $10337 | $7810 | $5166 |

---

The increase in non-interest income from the prior quarter was primarily due to increases in credit enhancement income, gain on sale of loans, and increased Strategic Program fees. Credit enhancement income mirrors the provision for credit losses on credit enhanced loans and increased due to the higher credit enhanced loan balances outstanding at June 30, 2025. The gain on sale of loans increased as FinWise increased its sales of the guaranteed portion of SBA 7(a) loan balances to capitalize on favorable market conditions. The higher Strategic Program fees resulted from increased originations. Offsetting these non-interest income increases in part were decreases in SBA loan servicing fees due to an increase in the provision for SBA servicing losses, and a decrease in other miscellaneous income due primarily to a decrease in dividends received from BFG for the quarter.

The increase in non-interest income from the prior year period was primarily due to the increase in credit enhancement income due to the higher credit enhanced loan balance, an increase in Strategic Program fees related to higher originations and the gain on loan sales related to the increased sales of the guaranteed portion of SBA 7(a) loan balances.

***<u>Non-interest Expense</u>***

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Non-interest expense |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | $10491 | $9826 | $8609 |
| &nbsp;&nbsp;&nbsp;Professional services | 949 | 907 | 1282 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment expenses | 445 | 543 | 556 |
| &nbsp;&nbsp;&nbsp;Credit enhancement expense | 78 | 11 |  |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 2949 | 3031 | 2771 |
| Total non-interest expense | $14912 | $14318 | $13218 |

---

The increase in non-interest expense from the prior quarter resulted from increases in salaries and employee benefits mainly as a result of annual compensation reviews and resulting compensation increases and deferred compensation award amortization, incurred to retain and motivate our employees. The increase in non-interest

------

expense from the prior year period was primarily due to an increase in salaries and employee benefits due mainly to increasing headcount in the first half of 2024, and amortization of deferred compensation awards.

FinWise's efficiency ratio was 59.5% for the second quarter, a decline from the 64.8% from the prior quarter and 66.8% for the prior year period. The efficiency ratio decline resulted primarily from the increase in credit enhanced income previously discussed. It is anticipated that the efficiency ratio will decline further as revenues are realized in future periods from interest earned on credit enhanced loan balances as well as the BIN sponsorship and payments initiatives developed during 2023 and 2024.

***<u>Tax Rate</u>***

The Company's effective tax rate was 24.5% for the second quarter of 2025, compared to 28.1% for the prior quarter and 23.9% for the prior year period. The decrease from the prior quarter was principally due to the change in estimated disallowed compensation expense relative to full year net income expectations. The increase from the prior year period was due primarily to higher estimated disallowed compensation estimates.

***<u>Net Income</u>***

Net income was $4.1 million for the second quarter of 2025, compared to $3.2 million for the prior quarter and $3.2 million for the prior year period. The changes in net income for the three months ended June 30, 2025 compared to the prior quarter and prior year period are the result of the factors discussed above.

***<u>Balance Sheet</u>***

The Company's total assets were $842.5 million as of June 30, 2025, an increase from $804.1 million as of March 31, 2025 and $617.8 million as of June 30, 2024. The increase in total assets from March 31, 2025 was primarily due to continued growth in the Company's net loans held-for-investment and loans held-for-sale portfolios of $34.1 million and $28.5 million, respectively. The increase in total assets compared to June 30, 2024 was primarily due to increases in the Company's net loans held-for-investment and loans held-for-sale portfolios of $108.0 million and $80.7 million, respectively, as well as an increase in investment securities available-for-sale of $30.1 million. The increased loan balances are consistent with our strategy to grow the loan portfolio with higher quality lower risk assets.

The following table provides the composition and gross balances of loans held-for-investment ("HFI") as of the dates indicated:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **6/30/2025** | **6/30/2025** | **3/31/2025** | **3/31/2025** | **6/30/2024** | **6/30/2024** |
| *($ in thousands)* | **Amount** | **% of total loans** | **Amount** | **% of total loans** | **Amount** | **% of total loans** |
| &nbsp;&nbsp;&nbsp;SBA | $246903 | 46.6% | $246004 | 50.0% | $249281 | 60.2% |
| &nbsp;&nbsp;&nbsp;Commercial leases | 88957 | 16.8% | 76823 | 15.6% | 56529 | 13.7% |
| &nbsp;&nbsp;&nbsp;Commercial, non-real estate | 5510 | 1.0% | 3550 | 0.7% | 1999 | 0.5% |
| &nbsp;&nbsp;&nbsp;Residential real estate | 54132 | 10.2% | 55814 | 11.3% | 42317 | 10.2% |
| &nbsp;&nbsp;&nbsp;Strategic Program loans | 30699 | 5.8% | 19916 | 4.1% | 17861 | 4.3% |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Owner occupied | 77871 | 14.7% | 65920 | 13.4% | 28340 | 6.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-owner occupied | 1417 | 0.3% | 1390 | 0.3% | 2134 | 0.5% |
| &nbsp;&nbsp;&nbsp;Consumer | 24555 | 4.6% | 22806 | 4.6% | 15880 | 3.8% |
| Total period end loans | $530044 | 100.0% | $492223 | 100.0% | $414341 | 100.0% |

---

Note: SBA loans as of June 30, 2025, March 31, 2025 and June 30, 2024 include $144.3 million, $150.0 million and $147.8 million, respectively, of SBA 7(a) loan balances that are guaranteed by the SBA. The HFI balance on Strategic Program loans with annual interest rates below 36% as of June 30, 2025, March 31, 2025 and June 30, 2024 was $5.7 million, $3.8 million and $2.6 million, respectively.

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Total gross loans HFI as of June 30, 2025 increased $37.8 million and $115.7 million compared to March 31, 2025 and June 30, 2024, respectively. The Company experienced growth primarily in its commercial real estate - owner occupied and commercial leases consistent with its strategy to increase its loan portfolio with higher quality, lower rate loans. The credit enhanced portfolio of the Strategic Program loans increased $10.4 million in the quarter to $11.7 million consistent with the strategy to serve this need of our Strategic Program customers.

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

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of** | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **6/30/2025** | **6/30/2025** | **3/31/2025** | **3/31/2025** | **6/30/2024** | **6/30/2024** |
| *($ in thousands)* | **Amount** | **Percent** | **Amount** | **Percent** | **Amount** | **Percent** |
| Noninterest-bearing demand deposits | $120747 | 19.0% | $123322 | 20.4% | $107083 | 24.9% |
| Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand | 67890 | 10.7% | 83410 | 13.8% | 48319 | 11.3% |
| &nbsp;&nbsp;&nbsp;Savings | 11623 | 1.8% | 8888 | 1.5% | 9746 | 2.3% |
| &nbsp;&nbsp;&nbsp;Money market | 21083 | 3.3% | 17939 | 2.9% | 9788 | 2.3% |
| &nbsp;&nbsp;&nbsp;Time certificates of deposit | 413831 | 65.2% | 372200 | 61.4% | 254259 | 59.2% |
| Total period end deposits | $635174 | 100.0% | $605759 | 100.0% | $429195 | 100.0% |

---

The increase in total deposits as of June 30, 2025 from March 31, 2025 and June 30, 2024 was driven primarily by increases in brokered time certificates of deposits, which were added to fund loan growth and provide balance sheet liquidity. The increase in total deposits from June 30, 2024 was also driven by an increase in noninterest-bearing demand deposits and interest-bearing demand deposits, primarily due to growth from new and existing customer relationships.

Total shareholders' equity as of June 30, 2025 increased $4.6 million to $182.0 million from $177.4 million at March 31, 2025. Compared to June 30, 2024, total shareholders' equity increased by $16.2 million from $165.8 million. The increase from March 31, 2025 was primarily due to the Company's net income and stock-based compensation. The increase from June 30, 2024 was primarily due to the Company's net income and stock-based compensation, partially offset by the repurchase of common stock under the Company's share 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:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **As of** | **As of** | **As of** | |
| *Capital Ratios* | **6/30/2025** | **3/31/2025** | **6/30/2024** | **Well-Capitalized Requirement** |
| Leverage ratio | 18.0% | 18.8% | 20.8% | 9.0% |

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The decrease in the leverage ratio from the prior quarter and prior year period primarily results from the growth in the loan portfolio exceeding the relative growth in capital from earnings. The Bank's capital levels remain significantly above the regulatory well-capitalized guidelines as of June 30, 2025.

**Share Repurchase Program**

Since the share repurchase program's inception in March 2024, the Company has repurchased and subsequently retired a total of 44,608 shares for $0.5 million. There were no shares repurchased during the second quarter of 2025.

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**Asset Quality**

The recorded balances of nonperforming loans were $39.7 million, or 7.5% of total loans held-for-investment, as of June 30, 2025, compared to $29.9 million, or 6.1% of total loans held-for-investment, as of March 31, 2025 and $27.9 million, or 6.5% of total loans held-for-investment, as of June 30, 2024. The balances of nonperforming loans guaranteed by the SBA were $21.2 million, $15.1 million, and $16.0 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively. The increase in nonperforming loans from the prior quarter and prior year period was primarily attributable to an increase in the SBA 7(a) loan portfolio being classified as non-accrual mainly due to the negative impact of sustained elevated interest rates on the Company's small business borrowers. The Company's allowance for credit losses to total loans held-for-investment was 3.1% as of June 30, 2025 compared to 2.9% as of March 31, 2025 and 3.2% as of June 30, 2024. The increase in the ratio from the prior quarter was primarily due to the provision for credit losses related to the growth of the credit enhanced loan balances offset in part by a change in qualitative factors for a subsegment of owner occupied commercial real estate. The slight decrease in the ratio from the prior year period was primarily due to the shift in our Strategic Program held-for-investment loan balances to programs with lower historical losses and the referenced change in qualitative factors offset in large part by the increase in the allowance for credit losses resulting from the credit enhancement loan portfolio increase.

The Company's net charge-offs were $2.8 million, $2.2 million and $1.9 million for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively. The increase from the prior quarter and prior year period was primarily due to charge-offs of certain held-for-investment balances upon moving to nonaccrual status.

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The following table presents a summary of changes in the allowance for credit losses and credit quality data for the periods indicated:

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Allowance for credit losses: |  |  |  |
| Beginning balance | $14235 | $13176 | $12632 |
| Provision for credit losses<sup>(1)</sup> | 4796 | 3307 | 2393 |
| **Charge-offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction and land development |  |  |  |
| &nbsp;&nbsp;&nbsp;Residential real estate | (210) | (7) |  |
| &nbsp;&nbsp;&nbsp;Residential real estate multifamily |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied | (309) | (68) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial |  | (83) | (184) |
| &nbsp;&nbsp;&nbsp;Consumer | (210) | (11) | (18) |
| &nbsp;&nbsp;&nbsp;Lease financing receivables | (133) | (36) | (69) |
| &nbsp;&nbsp;&nbsp;Strategic Program loans | (2279) | (2384) | (1962) |
| **Recoveries** |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction and land development |  |  |  |
| &nbsp;&nbsp;&nbsp;Residential real estate | 3 | 3 | 3 |
| &nbsp;&nbsp;&nbsp;Residential real estate multifamily |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied | 19 | 16 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial |  | 14 | 15 |
| &nbsp;&nbsp;&nbsp;Consumer | 7 | 3 | 1 |
| &nbsp;&nbsp;&nbsp;Lease financing receivables | 7 | (33) | 7 |
| &nbsp;&nbsp;&nbsp;Strategic Program loans | 321 | 338 | 309 |
| Ending Balance | $16247 | $14235 | $13127 |
| **Credit Quality Data** | **As of and For the Three Months Ended** | **As of and For the Three Months Ended** | **As of and For the Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Nonperforming loans: |  |  |  |
| &nbsp;&nbsp;Guaranteed | $21178 | $15147 | $16036 |
| &nbsp;&nbsp;Unguaranteed | 18561 | 14737 | 11871 |
| Total nonperforming loans | $39739 | $29884 | $27907 |
| Allowance for credit losses | $16247 | $14235 | $13127 |
| Net charge-offs | $2784 | $2248 | $1898 |
| Total loans held-for-investment | $530043 | $492223 | $414341 |
| Total loans held-for-investment less guaranteed balances | $385792 | $342259 | $266551 |
| Average loans held-for-investment | $514222 | $485780 | $400930 |
| Nonperforming loans to total loans held-for-investment | 7.5% | 6.1% | 6.5% |
| Net charge-offs to average loans held-for-investment (annualized) | 2.2% | 1.9% | 1.9% |
| Allowance for credit losses to loans held-for-investment | 3.1% | 2.9% | 3.2% |
| Allowance for credit losses to loans held-for-investment less guaranteed balances | 4.2% | 4.2% | 4.9% |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;Excludes the provision for unfunded commitments.

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**Webcast and Conference Call Information**

FinWise will host a conference call today at 5:00 PM ET to discuss its financial results for the second quarter. 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 13754178. Please dial the number 10 minutes prior to the scheduled start time.

A webcast replay of the call will be available at investors.finwisebancorp.com for six months following the call.

**Website Information**

The Company intends to use its website, www.finwisebancorp.com, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Such disclosures will be included in the Company's website's Investor Relations section. Accordingly, investors should monitor the Investor Relations portion of the Company's website, in addition to following its press releases, filings with the Securities and Exchange Commission ("SEC"), public conference calls, and webcasts. To subscribe to the Company's e-mail alert service, please click the "Email Alerts" link in the Investor Relations section of its website and submit your email address. The information contained in, or that may be accessed through, the Company's website is not incorporated by reference into or a part of this document or any other report or document it files with or furnishes to the SEC, and any references to the Company's website are intended to be inactive textual references only.

**About FinWise Bancorp**

FinWise Bancorp is a Utah bank holding company headquartered in Murray, Utah which wholly owns FinWise Bank, a Utah chartered state bank, and FinWise Investment LLC (together "FinWise"). FinWise provides Banking and Payments solutions to fintech brands. Its existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. As part of Strategic Program Lending, FinWise also provides a Credit Enhanced Balance Sheet Program, which addresses the challenges that lending and card programs face diversifying their funding sources and managing capital efficiency. In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. FinWise is also expanding and diversifying its business model by incorporating Payments (MoneyRails™) and BIN Sponsorship offerings. Through its compliance oversight and risk management-first culture, FinWise is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance. For more information about FinWise visit https://investors.finwisebancorp.com.

**Contacts**

investors@finwisebank.com<br>media@finwisebank.com

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**"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995**

This release 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 Company's current views 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 and banking-as-a-service ("BaaS") industries, as well as the continued evolution of the regulation of these industries; (b) the ability of the Company's Fintech Banking and Payment Solutions service providers to comply with regulatory regimes, and the Company's ability to adequately oversee and monitor its Fintech Banking and Payment Solutions service providers; (c) the Company's ability to maintain and grow its relationships with its service providers; (d) changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, accounting, tax, trade, tariffs, 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) system failure or cybersecurity breaches of the Company's network security; (g) 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; (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, political and business conditions, either nationally or in the Company's market areas; (j) increased national or regional competition in the financial services industry; (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 credit losses ("ACL"); (n) the financial soundness of other financial institutions; (o) changes in Small Business Administration ("SBA") rules, regulations and loan products, including specifically the Section 7(a) program or changes to the status of the Bank as an SBA Preferred Lender; (p) changes in the existing regulatory framework for brokered deposits and potential reclassification of certain BaaS deposits as brokered deposits in light of proposed rulemaking or application of the current deposit framework by the Federal Deposit Insurance Corporation ("FDIC") to the Bank's BaaS deposits; (q) the value of collateral securing the Company's loans; (r) the Company's levels of nonperforming assets; (s) losses from loan defaults; (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 Company's ability to implement its growth strategy; (v) the Company's ability to continue to launch new products or services successfully; (w) the concentration of the Company's lending and depositor relationships through Strategic Programs in the financial technology industry generally; (x) interest rate, volatility and liquidity risks; (y) the effectiveness of the Company's internal control over financial reporting and its ability to

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remediate any future material weakness in its internal control over financial reporting; (z) dependence on the Company's management team and changes in management composition; (aa) the sufficiency of the Company's capital; (bb) compliance with laws and regulations, supervisory actions, the Dodd-Frank Act, capital requirements, the Bank Secrecy Act and other anti-money laundering laws, predatory lending laws, and other statutes and regulations; (cc) the Company's ability to maintain a strong core deposit base or other low-cost funding sources; (dd) results of examinations of the Company by its regulators; (ee) the Company's involvement from time to time in legal proceedings; (ff) 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; (gg) future equity and debt issuances; (hh) that the anticipated benefits of new lines of business that the Company may enter or investments or acquisitions the Company may make are not realized within the expected time frame or at all as a result of such things as the strength or weakness of the economy and competitive factors in the areas where the Company and such other businesses operate; (ii) further negative ratings outlooks or downgrades of the U.S.'s long-term credit rating, (jj) changes in legislative, regulatory or tax priorities, (kk) reductions in staffing at U.S. governmental agencies, (ll) potential government shutdowns or political impasses, including with respect to the U.S. debt ceiling and federal budget; and (mm) 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, 2024 and subsequent reports on Form 10-Q and Form 8-K.

The timing and amount of purchases under the Company's share repurchase program will be determined by the Share Repurchase Committee based upon market conditions and other factors. Purchases may be made pursuant to a program adopted under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The program does not require the Company to purchase any specific number or amount of shares and may be suspended or reinstated at any time in the Company's discretion and without notice.

Any forward-looking statement speaks only as of the date of this release, and the Company does not undertake any obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence. In addition, the Company cannot assess the impact of each risk and uncertainty on its business or the extent to which any risk or uncertainty, or combination of risks and uncertainties, may cause actual results to differ materially from those contained in any forward-looking statements.

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**FINWISE BANCORP** 

**CONSOLIDATED BALANCE SHEETS**

**($ in thousands; Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| **ASSETS** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | $9389 | $8155 | $5158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | 80711 | 112117 | 83851 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 90100 | 120272 | 89009 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities available-for-sale, at fair value | 30146 | 30138 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities held-to-maturity, at cost | 11248 | 12008 | 13942 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment in Federal Home Loan Bank ("FHLB") stock, at cost | 440 | 440 | 349 |
| &nbsp;&nbsp;&nbsp;&nbsp;Strategic Program loans held-for-sale, at lower of cost or fair value | 147282 | 118769 | 66542 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held-for-investment, net | 506503 | 472402 | 398512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit enhancement asset | 2469 | 195 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment, net | 2976 | 3123 | 4106 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets subject to operating leases, net | 14274 | 10767 | 8720 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest receivable | 2380 | 2708 | 3390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes, net | 279 | 290 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA servicing asset, net | 3227 | 3331 | 3689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment in Business Funding Group ("BFG"), at fair value | 8400 | 8100 | 8000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use ("ROU") assets | 3359 | 3555 | 3913 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax receivable, net | 4100 | 3353 | 2103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 15305 | 14678 | 15506 |
| **Total assets** | $**842488** | $**804129** | $**617820** |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |
| **Liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $120747 | $123322 | $107083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 514427 | 482437 | 322112 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total deposits** | 635174 | 605759 | 429195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest payable | 3746 | 2750 | 601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable, net |  | 962 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes, net |  |  | 1154 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 4955 | 5226 | 5788 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 16654 | 12071 | 15286 |
| **Total liabilities** | **660529** | **626768** | **452024** |
| **Shareholders' equity** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 13 | 13 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in-capital | 58135 | 57548 | 55441 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 123809 | 119781 | 110342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income, net of tax | 2 | 19 |  |
| **Total shareholders' equity** | 181959 | 177361 | 165796 |
| **Total liabilities and shareholders' equity** | $**842488** | $**804129** | $**617820** |

---

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**FINWISE BANCORP**

**CONSOLIDATED STATEMENTS OF INCOME** 

**($ in thousands, except per share amounts; Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| **Interest income** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans | $18485 | $17155 | $16881 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on securities | 390 | 390 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest income | 867 | 991 | 1444 |
| Total interest income | 19742 | 18536 | 18422 |
| **Interest expense** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on deposits | 5014 | 4256 | 3807 |
| Total interest expense | 5014 | 4256 | 3807 |
| **Net interest income** | 14728 | 14280 | 14615 |
| Provision for credit losses | 4726 | 3336 | 2385 |
| Net interest income after provision for credit losses | 10002 | 10944 | 12230 |
| **Non-interest income** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Strategic Program fees | 5404 | 4962 | 4035 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of loans, net | 1483 | 846 | 356 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA loan servicing fees, net | (96) | 178 | 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value on investment in BFG | 300 | 400 | (200) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit enhancement income | 2275 | 85 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other miscellaneous income | 971 | 1339 | 732 |
| Total non-interest income | 10337 | 7810 | 5166 |
| **Non-interest expense** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 10491 | 9826 | 8609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional services | 949 | 907 | 1282 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment expenses | 445 | 543 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit enhancement expense | 78 | 11 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating expenses | 2949 | 3031 | 2771 |
| Total non-interest expense | 14912 | 14318 | 13218 |
| **Income before income taxes** | 5427 | 4436 | 4178 |
| Provision for income taxes | 1330 | 1247 | 998 |
| **Net income** | $**4097** | $**3189** | $**3180** |
| Earnings per share, basic | $0.31 | $0.24 | $0.25 |
| Earnings per share, diluted | $0.29 | $0.23 | $0.24 |
| Weighted average shares outstanding, basic | 12781508 | 12716155 | 12627800 |
| Weighted average shares outstanding, diluted | 13472394 | 13483647 | 13109708 |
| Shares outstanding at end of period | 13469725 | 13216903 | 13143560 |

---

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**FINWISE BANCORP**

**AVERAGE BALANCES, YIELDS, AND RATES** 

**($ in thousands; Unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **6/30/2025** | **6/30/2025** | **6/30/2025** | **3/31/2025** | **3/31/2025** | **3/31/2025** | **6/30/2024** | **6/30/2024** | **6/30/2024** |
|  | **Average Balance** | **Interest** | **Average Yield/Rate** | **Average Balance** | **Interest** | **Average Yield/Rate** | **Average Balance** | **Interest** | **Average Yield/Rate** |
| Interest-earning assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | $81017 | $867 | 4.29% | $92794 | $991 | 4.33% | $105563 | $1444 | 5.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities | 41920 | 390 | 3.73% | 42314 | 390 | 3.74% | 14795 | 97 | 2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Strategic Program loans held-for-sale | 119402 | 5636 | 18.93% | 79612 | 4264 | 21.72% | 49000 | 4020 | 33.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held-for-investment | 514222 | 12849 | 10.02% | 485780 | 12891 | 10.76% | 400930 | 12861 | 12.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 756560 | 19742 | 10.47% | 700500 | 18536 | 10.73% | 570288 | 18422 | 12.99% |
| Noninterest-earning assets | 60638 |  |  | 54184 |  |  | 46530 |  |  |
| Total assets | $817199 |  |  | $754684 |  |  | $616818 |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand | $64885 | $579 | 3.58% | $76403 | $670 | 3.56% | $47900 | $441 | 3.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 10028 | 15 | 0.60% | 9247 | 7 | 0.30% | 10270 | 19 | 0.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 17920 | 170 | 3.81% | 17884 | 163 | 3.70% | 9565 | 112 | 4.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit | 400757 | 4250 | 4.25% | 326920 | 3416 | 4.24% | 251142 | 3235 | 5.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 493590 | 5014 | 4.07% | 430454 | 4256 | 4.01% | 318877 | 3807 | 4.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 6 |  | 0.45% | 48 |  | 0.35% | 142 |  | 0.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 493596 | 5014 | 4.07% | 430502 | 4256 | 4.01% | 319019 | 3807 | 4.80% |
| Noninterest-bearing deposits | 112627 |  |  | 119501 |  |  | 108519 |  |  |
| Noninterest-bearing liabilities | 32753 |  |  | 29644 |  |  | 27700 |  |  |
| Shareholders' equity | 178223 |  |  | 175037 |  |  | 161580 |  |  |
| Total liabilities and shareholders' equity | $817199 |  |  | $754684 |  |  | $616818 |  |  |
| Net interest income and interest rate spread |  | $14728 | 6.39% |  | $14280 | 6.72% |  | $14615 | 8.19% |
| Net interest margin |  |  | 7.81% |  |  | 8.27% |  |  | 10.31% |
| Ratio of average interest-earning assets to average interest- bearing liabilities |  |  | 153.28% |  |  | 162.72% |  |  | 178.76% |

---

------

**Reconciliation of Non-GAAP to GAAP Financial Measures**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Efficiency ratio** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Non-interest expense | $14912 | $14318 | $13218 |
| Net interest income | 14728 | 14280 | 14615 |
| Total non-interest income | 10337 | 7810 | 5166 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted operating revenue | $25065 | $22090 | $19781 |
| Efficiency ratio | 59.5% | 64.8% | 66.8% |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Adjusted efficiency ratio** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| *($ in thousands)* | **6/30/2025** | **3/31/2025** | **6/30/2024** |
| Non-interest expense (GAAP) | $14912 | $14318 | $13218 |
| Less: credit enhancement expense | 78 | 11 |  |
| Adjusted non-interest expense | 14834 | 14307 | 13218 |
| Net interest income (GAAP) | 14728 | 14280 | 14615 |
| Total non-interest income (GAAP) | 10337 | 7810 | 5166 |
| Less: credit enhancement income | 2275 | 85 | 39 |
| Adjusted non-interest income | 8062 | 7725 | 5127 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted operating revenue | $22790 | $22005 | $19742 |
| Adjusted efficiency ratio | 65.1% | 65.0% | 67.0% |

---

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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 potential future recovery of those losses 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. Any remaining income on such loans in excess of the amounts retained by FinWise and placed in the deposit reserve account are expensed and paid to the Strategic Program service provider for services provided by the Strategic Program service provider including its legal commitment to indemnify or reimburse all credit losses pursuant to credit enhancement agreements. 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. See the following reconciliations of 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 expenses on total interest income on loans held-for-investment and average yield on loans held-for-investment:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| *($ in thousands; unaudited)* | **6/30/2025** | **6/30/2025** | **6/30/2025** | **3/31/2025** | **3/31/2025** | **3/31/2025** | **6/30/2024** | **6/30/2024** | **6/30/2024** |
|  | **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 | $514222 | $12849 | 10.02% | $485780 | $12891 | 10.76% | $400930 | $12861 | 12.90% |
| Less: credit enhancement expense |  | (78) |  |  | (11) |  |  |  |  |
| Net of adjustment for credit enhancement expenses | $514222 | $12771 | 9.96% | $485780 | $12880 | 10.76% | $400930 | $12861 | 12.90% |

---

Total interest income on loans held-for-investment net of credit enhancement expense and the average yield on loans held-for-investment net of credit enhancement expense are non-GAAP measures that include the impact of credit enhancement expense on total interest income on loans held-for-investment and the respective average yield on loans held-for-investment, the most directly comparable GAAP measures.

The following non-GAAP measures are presented to illustrate the impact of certain credit enhancement expenses on net interest income and net interest margin:

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** | **As of and for the Three Months Ended** |
| | **6/30/2025** | **6/30/2025** | **6/30/2025** | **3/31/2025** | **3/31/2025** | **3/31/2025** | **6/30/2024** | **6/30/2024** | **6/30/2024** |
| *($ in thousands; unaudited)* | **Total Average Interest-Earning Assets** | **Net Interest Income** | **Net Interest Margin** | **Total Average Interest-Earning Assets** | **Net Interest Income** | **Net Interest Margin** | **Total Average Interest-Earning Assets** | **Net Interest Income** | **Net Interest Margin** |
| Before adjustment for credit enhancement | $756560 | $14728 | 7.81% | $700500 | $14280 | 8.27% | $570288 | $14615 | 10.31% |
| Less: credit enhancement expense |  | (78) |  |  | (11) |  |  |  |  |
| Net of adjustment for credit enhancement expenses | $756560 | $14650 | 7.77% | $700500 | $14269 | 8.26% | $570288 | $14615 | 10.31% |

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Net interest income and net interest margin net of credit enhancement expense are non-GAAP measures that include the impact of credit enhancement expenses on net interest income and net interest margin, the most directly comparable GAAP measures.

Non-interest expenses less credit enhancement expenses is a non-GAAP measure presented to illustrate the impact of credit enhancement expense on non-interest expense:

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| | | | |
|:---|:---|:---|:---|
| *($ in thousands; unaudited)* | **Three Months Ended June 30, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended June 30, 2024** |
| Total non-interest expense | $14912 | $14318 | $13218 |
| Less: credit enhancement expense | (78) | (11) |  |
| Total non-interest expense less credit enhancement expenses | $14834 | $14307 | $13218 |

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Total non-interest expense less credit enhancement expense is a non-GAAP measure that illustrates the impact of credit enhancement expenses on non-interest expense, the most directly comparable GAAP measure.

Total non-interest income less credit enhancement income is a non-GAAP measure to illustrate the impact of credit enhancement income resulting from credit enhanced loans on non-interest income:

---

| | | | |
|:---|:---|:---|:---|
| *($ in thousands; unaudited)* | **Three Months Ended June 30, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended June 30, 2024** |
| Total non-interest income | $10337 | $7810 | $5166 |
| Less: credit enhancement income | (2275) | (85) | (39) |
| Total non-interest income less credit enhancement income | $8062 | $7725 | $5127 |

---

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Total non-interest income less indemnification income is a non-GAAP measure that illustrates the impact of credit enhancement income on non-interest income. The most directly comparable GAAP measure is non-interest income.

The following non-GAAP measure is presented to illustrate the effect of the credit enhancement program that creates the credit enhancement on the allowance for credit losses:

---

| | | | |
|:---|:---|:---|:---|
| *($ in thousands; unaudited)* | **As of June 30, 2025** | **As of March 31, 2025** | **As of June 30, 2024** |
| Allowance for credit losses | $16247 | $14235 | $13127 |
| Less: allowance for credit losses related to credit enhanced loans | (2469) | (195) | (39) |
| Allowance for credit losses excluding the effect of the allowance for credit losses related to credit enhanced loans | $13778 | $14040 | $13088 |

---

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 June 30, 2025, March 31, 2025 and June 30, 2024 was approximately $11.7 million, $1.3 million and $0.4 million, respectively.

## Exhibit 99.2

![](finw_investorxpresentati001.jpg)

July 2025

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2 Disclaimers "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 and banking-as-a- service ("BaaS") industries, as well as the continued evolution of the regulation of these industries; (b) the ability of the Company's Fintech Banking and Payment Solutions service providers to comply with regulatory regimes, and the Company's ability to adequately oversee and monitor its Fintech Banking and Payment Solutions service providers; (c) the Company's ability to maintain and grow its relationships with its service providers; (d) changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, accounting, tax, trade, tariffs, 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) system failure or cybersecurity breaches of the Company's network security; (g) 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; (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, political and business conditions, either nationally or in the Company's market areas; (j) increased national or regional competition in the financial services industry; (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 credit losses ("ACL"); (n) the financial soundness of other financial institutions; (o) changes in Small Business Administration ("SBA") rules, regulations and loan products, including specifically the Section 7(a) program or changes to the status of the Bank as an SBA Preferred Lender; (p) changes in the existing regulatory framework for brokered deposits and potential reclassification of certain BaaS deposits as brokered deposits in light of proposed rulemaking or application of the current deposit framework by the Federal Deposit Insurance Corporation ("FDIC") to the Bank's BaaS deposits; (q) the value of collateral securing the Company's loans; (r) the Company's levels of nonperforming assets; (s) losses from loan defaults; (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 Company's ability to implement its growth strategy; (v) the Company's ability to continue to launch new products or services successfully; (w) the concentration of the Company's lending and depositor relationships through Strategic Programs in the financial technology industry generally; (x) interest rate, volatility and liquidity risks; (y) 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; (z) dependence on the Company's management team and changes in management composition; (aa) the sufficiency of the Company's capital; (bb) compliance with laws and regulations, supervisory actions, the Dodd-Frank Act, capital requirements, the Bank Secrecy Act and other anti-money laundering laws, predatory lending laws, and other statutes and regulations; (cc) the Company's ability to maintain a strong core deposit base or other low-cost funding sources; (dd) results of examinations of the Company by its regulators; (ee) the Company's involvement from time to time in legal proceedings; (ff) 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; (gg) future equity and debt issuances; (hh) that the anticipated benefits of new lines of business that the Company may enter or investments or acquisitions the Company may make are not realized within the expected time frame or at all as a result of such things as the strength or weakness of the economy and competitive factors in the areas where the Company and such other businesses operate; (ii) further negative ratings outlooks or downgrades of the U.S.'s long-term credit rating, (jj) changes in legislative, regulatory or tax priorities, (kk) reductions in staffing at U.S. governmental agencies, (ll) potential government shutdowns or political impasses, including with respect to the U.S. debt ceiling and federal budget; and (mm) 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, 2024 and subsequent reports on Form 10-Q and Form 8-K. Any forward-looking statement speaks only as of the date of this release, and the Company does not undertake any obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence. In addition, the Company cannot assess the impact of each risk and uncertainty on its business or the extent to which any risk or uncertainty, or combination of risks and uncertainties, may cause actual results to differ materially from those contained in any forward-looking statements. Market and industry data This presentation includes estimates regarding market and industry data. Certain information is based on management estimates, which have been derived from third-party sources, as well as data from our internal research. While we believe the estimated market and industry data included in this presentation 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." 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. 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 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 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.

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FinWise Overview Differentiated Business Model • Banking and payments solutions provider to fintechs • Resilient and profitable model with compelling growth opportunities • Compliance oversight and risk management-first culture • Lower risk loan portfolio with disciplined underwriting and collateral management: • 43% of portfolio at 2Q25 is SBA Guaranteed and Strategic Program HFS1 (HFS loans are typically cash-collateralized and held for less than one week) • Credit Enhanced Balance Sheet2 product incorporates a fintech financed loss reserve account structured to absorb credit losses • Well capitalized significantly above regulatory requirement • Highly experienced team with proven track record 1SBA Guaranteed loans are guaranteed by U.S Small Business Administration and Strategic Program Loans (HFS) are supported by reserve deposit accounts. 2See Glossary slide at end of presentation for definition of Credit Enhanced. 3 • Fintech Banking & Payments Solutions: • Strategic Program Lending (SPL). Through our scalable API-driven infrastructure • SPL - Credit Enhanced Balance Sheet2. Provides opportunity to generate lower risk asset growth and interest income • Payments (MoneyRailsTM) and BIN Sponsorship. Provides opportunity to diversify business model, generate lower-cost deposits and add fee income • Traditional Lending. Provides flexibility for disciplined balance sheet growth: • SBA 7(a), including SBA guaranteed loans • Residential and owner occupied CRE • Equipment leasing programs Key Products

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Equipment Leasing Programs Balance Sheet Strategy: • Originate for Investment • Originations through vendor finance, additional third-party originators, direct channels • Diversify balance sheet Fintech Banking & Payments Solutions (includes Strategic Program Lending) Balance Sheet Strategy: • Mostly originate to sell • Interest Income HFI & HFS • Minimum program & other fees • Programs establish a "reserve" deposit account with FinWise • Credit Enhanced Bal. Sheet SBA 7(a) Balance Sheet Strategy: • Hold or sell guaranteed portion • Retain all servicing rights when guaranteed portion is sold • Leverage relationship with Business Funding Group, LLC for acquiring customers Residential & Owner Occupied CRE Balance Sheet Strategy: • Originate for Investment • Source of core deposits • High-touch, relationship banking • Historically stable and strong profitability Revenue Contribution by Product (ex-Payments & BIN) 2Q25 Gross Revenue Contribution1 1Does not include revenue from POS Lending Program which is an originate to hold strategy, "Other", "Change in Fair Value on investment in BFG", "Credit Enhancement", and revenue generated by non-lending activities. Note: SBA Guaranteed loans are guaranteed by U.S Small Business Administration; Strategic Program Loans (HFS) are supported by reserve deposit accounts. 52.9% 19.9% 5.1% 4 7.0% Differentiated and Proven Strategy Offers Solid Foundation for Future Growth As of 6/30/25: • Strategic Platform Loans on Bal. Sheet: $178.0M (82.8% HFS; 17.2% HFI) • 2Q25 Gain on Sale (net) and Strategic Program Fees: $5.6 million or 54.6% of non- interest income As of 6/30/25: • SBA Loans on Bal. Sheet: $246.9 (58.4% Guaranteed; 41.6% Unguaranteed) Product Overview: • Consumer and commercial lending • Construction lending focus on single-family residential Product Overview: • Equipment secured leases/ loans • Interest bearing (generally 60-month fixed rates) • "Aurora" loan origination system provides scalability and automation Target Customer: • Consumers and small to medium-sized businesses (SMBs) via Fintech Platforms Target Customer: • SMBs Target Customer: • Single family residential and SMBs Target Customer: • SMBs via Equipment point of sale TRADITIONAL LENDING PRODUCTS

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Strategic Program Lending (SPL): Role of the Bank and Fintech 5 Loan Applications and Approvals Adhere to Credit Models Established by FinWise

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Strategic Program Lending (SPL) - Program Diversification Has Improved Note: Strategic Program Lending concentration shown since 1Q22 to highlight longer-term pattern in recent years 6

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7 Select Fintech Brands We Currently Support Note: Upstart, Elevate and Reach are not on MoneyRailsTM, but FinWise does handle Payment Processing for them. Growth Opportunity With Existing Fintechs And As New Programs Are Onboarded

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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. 77 (or 39%) of our 200 FTEs at the end of 2Q25 are in IT, Compliance, Risk Mgmt., and BSA functions

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Go Forward Growth Strategy: A Broader Banking & Payments Offering 1SBA 7(a) includes Guaranteed and Unguaranteed loans; Guaranteed loans are guaranteed by U.S Small Business Administration. Note: "Fintech Banking & Payments Solutions" is used to describe our target market within the banking as a service ecosystem. 9 Strategic Program Lending (SPL) SBA 7(a)1 Resi. & Owner Occupied CRE Equipment Financing BIN Sponsorship Strategic Program Lending (SPL) + Credit Enhancement SBA 7(a)1 Equipment Financing Resi. & Owner Occupied CRE Incorporating Credit Enhanced, Payments and BIN Products Enhances Revenue Diversification Payments (MoneyRails™) NOTE: Credit Enhanced product expected to begin contributing to growth in 2H25; Payments and BIN products poised to deliver growth later in 2026

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Key New Products Under One Platform 1 Credit approval by FinWise is required 10 A Differentiator of Our Fintech Banking & Payments Solutions Offering

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11 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 (SPL) 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 1MoneyRailsTM enhances fee revenue opportunity in SPL and Cards. Note: SBA 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 (SPL) Payments (MoneyRails™)¹ Credit Cards Traditional Lending (SBA 7(a), Residential & Owner Occupied CRE, Equipment Financing) Strategic Program Lending (SPL): Credit Enhanced Bal. Sheet Prepaid & Debit Cards Type of Revenue Generated by Product BIN Sponsorships: Net Interest Income (NII)Fee Income

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MoneyRailsTM Overview and Map of Services 12 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 NOTE: Currently Live: Ledgering, ACH, RTP, FedNow, Wires, RPPS, File-based support, KYC/KYB Connector, API enabled, Fraud Monitoring

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Potential Long-term Benefits from Our Fintech Banking and Payments Solutions Offering Revenue Expands and diversifies potential sources of revenue Deposits Helps diversify deposit composition and reduce cost of funds through relationship-banking Credit Quality Increases percentage of Prime loans Profitability Use of outsourced solutions enhances operating leverage versus traditional models Note: "Potential Long-term Benefits" describe the Company's expectations of potential benefits to the overall FinWise business model 13

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Intensive Due-Diligence Process and Compliance Assessment Representative Fintech Onboarding - a Thorough Selection Process 14

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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 API 15 1) Strategic Program Lending Credit Engine

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Disciplined Underwriting Process Mitigates Risk... • Credit risk is managed through combination of policy, data and pricing • Disciplined underwriting process and well collateralized portfolio has helped mitigate net charge-offs, even as credit quality normalized due to an elevated interest rate environment • Remain well-reserved: ACL/Total Gross Loans HFI of 3.1% at end of 2Q25, reflecting a lower-risk portfolio vs. prior year period, including: • Significant SBA guaranteed balances as % of Total Gross Loans HFI; these balances have declined as we sell limited amounts of the guaranteed portion of SBA loans due to favorable market conditions • Strategic Programs (SP) HFI balances as % of Total Gross Loans HFI, have increased partly driven by higher Credit Enhanced balances 16 \*ACL = Allowance for Credit Losses; SP = Strategic Programs; HFI = Held for Investment

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...and Leads to a Diversified and Lower Risk Loan Portfolio Key Quarterly Trends: • Combined SBA Guaranteed and Strategic Program Loans Held-for-Sale (HFS) increased to a total of 43.0% of the portfolio as of 2Q25 vs 42.7% as of 2Q24. Both of these products carry lower credit risk Note: SBA Guaranteed loans are guaranteed by the U.S Small Business Administration and Strategic Program Loans (HFS) are supported by reserve deposit accounts • SBA Unguaranteed loans declined from 23.8% of the portfolio as of 2Q24 to 15.2% as of 2Q25 • SBA Guaranteed balances have declined as we continue to sell limited amounts of the guaranteed portion of SBA loans 171Total Loans includes Held for Investment (HFI) and Held for Sale (HFS) NOTE: Commercial (Non RE) is mostly Equipment Leasing. Portfolio Characteristics: • SBA: Average FICO is 740+. Average time in business is 12+ years. Top 3 industries by Unguaranteed balances: eCommerce, Law Firms and Health Care. Note: Our SBA loss rate is approximately 73% lower than the SBA 7(a) industry for all originations since 2014. • CRE Non-SBA (11.7% as of 2Q25) is 98.2% Owner Occupied

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Deposit Composition 18 As of June 30, 2025, Total Period End Deposits: $635.2 Million Significant opportunity to enhance profitability by gradually diversifying deposit composition away from higher-cost CDs and reducing cost of funds

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Disciplined Expense Management While Investing for Growth Longer-term increase in Total Non-interest Expense has been driven largely by business infrastructure spend, including headcount, to support organic growth and key strategic initiatives. 2025 Commentary: Remain focused on positive operating leverage; Expense growth to be correlated to revenue production. NOTE: reported efficiency ratio was 59.5% in 2Q25. Adjusting for credit enhancement related accounting gross ups to net interest income, non-interest income and non- interest expense, the core efficiency ratio was 65.1% for 2Q252 19 2Q25 1Q25 2Q25 Full Time Employees (FTEs) 175 196 200 Efficiency Ratio (Non-GAAP)2 66.8% 64.8% 59.5% 1All Other Non-interest Expense refers to all other expense components within Total Non-interest Expense, excluding Salaries & Employee Benefits. 2See Appendix at the end of the presentation for Non-GAAP reconciliation

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Consistent TBV Growth Has Been a Win for Shareholders Tangible Book Value Per Share (Non-GAAP)1 20 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. 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, LendingClub Corporation, Pathward Financial, Inc. Note: Bank level Call Report financial data used where holding company consolidated financials unavailable; 1Q 2025 financial data used where 2Q 2025 holding company consolidated and bank level Call Report financials are unavailable Source: S&P Capital IQ Pro Indexed Change in TBV Since FINW IPO (4Q21) vs Select Bank2 and Fintech Peers3

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Industry Recognition as a Top-Performing Bank 21 FinWise Bancorp ranked in top 3 on American Banker's annual list of Top-Performing Publicly Traded Banks with under $2 billion of assets (based on 3-year average ROAE ending 12/31/23) 2022 2023 2022 2023 20242024 Source: https://www.independentbanker.org/article/2024/05/01/icba%27s-best-performing-banks-of-2024; https://www.americanbanker.com/list/the-20-top-performing-publicly-traded-banks-with-under-2b-of-assets FinWise Bancorp ranked #1 in its respective class (for the 3rd year in a row) for Best Performing Banks (based on 3-year average pre-tax ROA) FinWise Bank was ranked as one of the 50 fastest growing companies in Utah based on revenue growth over five years. 2022 2023 2024

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Selected Financial Information 22

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Solid Originations and Significant Balance Sheet Growth 23 1 HFI = Held for Investment. Note: Total Loan Originations are for the quarterly period. Other amounts are as of the end of each respective period

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Growing TBVps and Sustained Historical Profitability 241See Appendix for more information and Non-GAAP reconciliation. Tangible Book Value per Share (Non-GAAP) as of the end of each respective period. 2ROAE is negatively affected by high capital levels. Profitability partly impacted by infrastructure investments over the past two years to support organic growth and the build-out of key strategic initiatives. ROAE has also been lower due to high capital levels

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Diversified Income Sources 25 1 Other Non-interest Income includes all other non-interest income items, excluding Strategic Program Fees. NOTE: 2Q25's NIM of 7.81% was driven primarily by further additions of higher quality but lower yielding loans, as we continue to diversify the loan portfolio, as well as accrued interest reversals totaling $600,000 on loans migrating to nonaccrual status.

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Well Capitalized Above Regulatory Requirements 26 Note: data as of the end of each respective period. The Bank's capital levels remain significantly above the well-capitalized regulatory requirement of 9%, pursuant to the Community Bank Leverage Ratio framework adopted by the Bank in 2020.

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Appendix 27

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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) June 30, 2025 March 31, 2025 June 30, 2024 Total shareholders' equity $181,959 $177,361 $165,796 Goodwill — — — Other intangibles — — — Less: total intangible assets — — — Tangible shareholders' equity1 $181,959 $177,361 $165,796 Tangible book value per share1 $13.51 $13.42 $12.61 Efficiency Ratio For the Three Month Period Ending ($ in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Non-interest expense $14,912 $14,318 $13,218 Net interest income 14,728 14,280 14,615 Non-interest income 10,337 7,810 5,166 Adjusted operating revenue $25,065 $22,090 $19,781 Efficiency ratio2 59.5 % 64.8 % 66.8 %

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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 expense, 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) June 30, 2025 March 31, 2025 June 30, 2024 Non-interest expense (GAAP) $14,912 $14,318 $13,218 Less: credit enhancement expense 78 11 — Adjusted non-interest expense 14,834 14,307 13,218 Net interest income (GAAP) 14,728 14,280 14,615 Total non-interest income (GAAP) 10,337 7,810 5,166 Less: credit enhancement income 2,275 85 39 Adjusted non-interest income 8,062 7,725 5,127 Adjusted operating revenue $22,790 $22,005 $19,742 Adjusted efficiency ratio3 65.1 % 65.0 % 67.0 %

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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 Balance Sheet. 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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