Finwise Bancorp · NASDAQ:FINW
Finwise Bancorp — Q4 2025 Earnings Presentation
32 slides from Finwise Bancorp's earnings presentation, Jan 29, 2026
Slide 1: Fintech Banking and Payments Solutions Investor Presentation
\7 FINWISE BANCORP Fintech Banking and Payments Solutions Investor Presentation January 2026
Slide 2: Disclaimers
Disclaimers "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect
Slide 3: Fourth Quarter 2025 Highlights
Fourth Quarter 2025 Highlights 3
Slide 4: Fourth Quarter and Full Year 2025 Results
Fourth Quarter and Full Year 2025 Results As of and for the Three Months Ended As of and for the Years Ended 12/31/2025 9/30/2025 12/31/2024 12/31/2025 12/31/2024 Income Statement Data ($ in thousands) Net interest income $ 24,568 $ 18,607 $ 15,529 $ 72,183 $ 58,912 Total non-interest income 22,282
Slide 5: FinWise Overview
FinWise Overview Differentiated Business Model Key Products • Resilient and profitable model with compelling • Banking and Payments Solutions for Fintechs: growth opportunities • Strategic Program Lending. Through our scalable • Compliance oversight and risk management culture API-driven infrastruct
Slide 6: Our Culture - Strong Compliance and Risk Management
Our Culture - Strong Compliance and Risk Management Consistent Investment in Personnel & Infrastructure Provides Regulatory Oversight Support to Fintechs 73 (or 37%) of our 198 FTEs at the end of 4Q25 are in IT, Compliance, Risk Mgmt., and BSA functions NOTE: Although the number of FTEs declined in
Slide 7: Revenue Contribution by Product (ex-Payments & BIN)
Revenue Contribution by Product (ex-Payments & BIN) Differentiated and Proven Strategy Offers Solid Foundation for Future Growth TRADITIONAL LENDING PRODUCTS Fintech Banking & Payments Solutions Residential & Owner Equipment Leasing SBA 7(a) Programs (includes Strategic Program and Occupied CRE Cred
Slide 8: Review of Strategic Program Lending: Roles of the Bank and Fintech
Review of Strategic Program Lending: Roles of the Bank and Fintech Loan Applications and Approvals Adhere to Credit Models Established by FinWise 8
Slide 9: Strategic Program Lending - Program Diversification Has Improved
Strategic Program Lending - Program Diversification Has Improved 9 Note: Strategic Program Lending concentration shown since 1Q22 to highlight longer-term pattern in recent years
Slide 10: Select Fintech Brands We Currently Support
Select Fintech Brands We Currently Support Growth Opportunity With Existing Fintechs And As New Programs Are Onboarded 10 Note: Upstart, Elevate, Reach and FUTR Payments (formerly Hank Payments) are not on MoneyRailsTM, but FinWise does handle Payment Processing for them.
Slide 11: Growth Strategy: A Broader Fintech Solutions Offering
Growth Strategy: A Broader Fintech Solutions Offering Strategic Program Strategic Program Lending (SPL) + Credit Lending (SPL) Enhancement Equipment Financing Equipment Financing Payments (MoneyRails™) SBA 7(a)1 BIN Sponsorship SBA 7(a)1 1 11 SBA 7(a) includes Guaranteed and Unguaranteed loans; Guar
Slide 12: Growth Strategy: Potential Long-term Benefits from Broader Fintech Solutions Offering
Growth Strategy: Potential Long-term Benefits from Broader Fintech Solutions Offering Revenue Deposits Credit Quality Profitability Expand and diversify Diversify deposit Increase Prime loan Enhance profitability sources of revenue composition and exposure and oper. leverage via reduce cost of funds
Slide 13: Credit Enhanced Lending - A Lower Risk Product
Credit Enhanced Lending - A Lower Risk Product 1 13 The fintech partner refers the borrower through joint marketing efforts, and FinWise originates the loan.
Slide 14: MoneyRails Overview and Map of Services
MoneyRails Overview and Map of Services TM 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
Slide 15: A Deeper Dive Into Our Diversified Revenue Model
A Deeper Dive Into Our Diversified Revenue Model Type of Revenue Generated by Product Fee Income Net Interest Interest Income (NII) Income • On loans held for a few days before sold and on Strategic Program Lending to • Monthly fee driven by originated loan volume extended held for sale loans Fintec
Slide 16: Components of Model Enable Scaling and Regulatory Oversight
Components of Model Enable Scaling and Regulatory Oversight Product: Our Technology: 1) Strategic Program Lending Credit Engine Lending programs, including closed • Verify borrower information and open-ended consumer and API • Validate loans to models and commercial underwriting criteria, and origin
Slide 17: Intensive Due-Diligence Process and Compliance Assessment
Intensive Due-Diligence Process and Compliance Assessment Representative Fintech Onboarding - a Thorough Selection Process Including: 17
Slide 18: Disciplined Underwriting Process Mitigates Risk...
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 env
Slide 19: ...and Leads to a Diversified and Lower Risk Loan Portfolio
...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 33.6% of the portfolio as of 4Q25 vs 45.0% as of FY24. ◦ Both products carry lower credit risk: SBA Guaranteed loans are
Slide 20: Deposit Composition
Deposit Composition As of December 31, 2025, Total Period End Deposits: $754.6 Million Opportunity to enhance profitability by gradually diversifying deposit composition away from higher-cost CDs and reducing cost of funds 20
Slide 21: Consistent TBV Growth Has Been a Win for Shareholders
Consistent TBV Growth Has Been a Win for Shareholders Indexed Change in TBV Since FINW IPO (4Q21) vs Tangible Book Value Per Share (Non-GAAP)1 Select Bank2 and Fintech Peers3 1 See Appendix at end of presentation for full description of metric and Non-GAAP reconciliation. Amounts are as of the end o
Slide 22: Industry Recognition as a Top-Performing Bank
Industry Recognition as a Top-Performing Bank FinWise Bancorp ranked #1 in its respective FinWise Bancorp ranked in top 3 on American FinWise Bank was ranked as one of the 50 class (for the 3rd year in a row) for Best Banker's annual list of Top-Performing Publicly fastest growing companies in Utah
Slide 23: Selected Financial Information
Selected Financial Information 23
Slide 24: Solid Originations and Significant Balance Sheet Growth
Solid Originations and Significant Balance Sheet Growth 24 1 Includes seasonality from our largest Student Lending Partner. 2HFI = Held for Investment. Note: Total Loan Originations are for the quarterly period. Other amounts are as of the end of each respective period
Slide 25: Growing TBVps and Sustained Historical Profitability
Growing TBVps and Sustained Historical Profitability 4Q25 Net Income impacted by an increase in net-charge offs, in part stemming from a refinement of our servicing and administration standards. This resulted in a higher provision for credit losses on our traditional banking portfolio, which negativ
Slide 26: Diversified Income Sources
Diversified Income Sources Net Interest Income and Net Interest Margin (NIM) are impacted by lending activities including growth in the Credit Enhanced portfolio 1 26 For accounting purposes, Credit Enhancement Income is fully offset by a corresponding credit loss provision related to credit enhance
Slide 27: Disciplined Expense Management While Investing for Growth
Disciplined Expense Management While Investing for Growth Increase in total non-interest expense in 3Q25 and 4Q25 partly due to increases in credit enhancement servicing and guarantee expenses resulting from growth in credit enhanced loans. In prior years the increase in total non-interest expense h
Slide 28: Well Capitalized Above Regulatory Requirements
Well Capitalized Above Regulatory Requirements Capital levels remain well above the well-capitalized regulatory requirement of 9%, pursuant to the Community Bank Leverage Ratio framework adopted by the Bank in 2020. 28 Note: data as of the end of each respective period.
Slide 29: Appendix
\7 FINWISE BANCORP Appendix
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations Tangible Shareholders' Equity and Tangible Book Value Per Share As of ($ in thousands, except per share amounts) December 31, 2025 September 30, 2025 December 31, 2024 Total shareholders' equity $ 193,195 $ 187,765 $ 173,720 Goodwill — — — Other intangibles — — — Less: total
Slide 31: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) Adjusted Efficiency Ratio For the Three Month Period Ending ($ in thousands) December 31, 2025 September 30, 2025 December 31, 2024 Non-interest expense (GAAP) $ 23,651 $ 17,449 $ 13,564 Less: credit enhancement program expenses 7,685 1,968 6 Adjusted non-interes
Slide 32: Glossary of Terms Used
Glossary of Terms Used 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 ot