BuybackMay 21, 2026, 07:17 AM
FinWise Bancorp Authorizes Share Buyback of Up to 685,000 Shares
AI Summary
FinWise Bancorp's Board of Directors authorized a common stock repurchase program to buy back up to 685,000 shares, representing approximately 5% of its issued and outstanding shares. The program is discretionary, expires on May 31, 2028, and will be funded by available cash balances. CEO Jim Noone stated that the buyback reflects the company's strong capital position, including a Bank Leverage Ratio of 16.8% and tangible book value of $14.34 per share, and confidence in its long-term business trajectory.
Key Highlights
- Board authorized common stock repurchase program.
- Up to 685,000 shares to be repurchased.
- Represents approximately 5% of issued and outstanding shares.
- Program expires on May 31, 2028.
- Bank Leverage Ratio was 16.8% at Q1 end.
- Tangible book value was $14.34 per share.
- Repurchases to be funded with available cash balances.
Price Impact
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