Finwise Bancorp SEC 10-Q Report

Finwise Bancorp, a financial institution providing a full range of banking services to individual and commercial customers, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant improvements in financial performance and key operational developments, reflecting the company's strategic initiatives and robust market positioning. Financial Highlights Finwise Bancorp reported strong financial results for the three months ended September 30, 2025, showcasing substantial growth across key metrics:Total Interest Income: $23.966 million, up from $18.924 million in the same period of 2024, driven by higher interest and fees on loans.Net Interest Income: $18.607 million, an increase from $14.763 million in the same period of 2024, indicating improved interest income performance.Net Income: $4.891 million, compared to $3.454 million in the same period of 2024, showcasing a significant increase in profitability.Earnings per Share, Basic: $0.36, up from $0.26 in the same period of 2024, reflecting improved earnings performance.Earnings per Share, Diluted: $0.34, compared to $0.25 in the same period of 2024, indicating enhanced earnings per share. Business Highlights In addition to its financial achievements, Finwise Bancorp has made significant strides in its business operations:Segment Reporting: During the third quarter of 2025, Finwise Bancorp implemented segment reporting, establishing three reportable segments: traditional banking, banking as a service (BaaS), and treasury and administration. This change followed the completion of a technology initiative aimed at capturing segment-specific financial data to better allocate resources and review financial performance.Strategic Program Loans: The company originates loans through various third-party platforms, which streamline the origination of unsecured and secured consumer and business loans. These loans are classified as held-for-sale and held-for-investment, with the company earning fees from these strategic programs.Geographical Performance: The company operates primarily through its wholly-owned subsidiaries in Utah, providing a full range of banking services to individual and commercial customers, as well as banking and payment solutions to fintech brands.Future Outlook: The company is evaluating the impact of recently issued accounting standards, such as ASU 2025-06, which will affect the accounting for internal-use software. This guidance will be effective on January 1, 2028, and the company is currently assessing its impact on future financial statements.SEC Filing: Finwise Bancorp [ FINW ] - 10-Q - Nov. 10, 2025