Finwise Bancorp

FinWise Bancorp shareholders, at their 2026 Annual Meeting, approved an amendment to the 2019 Stock Plan, increasing the number of shares available for awards by 750,000 to a total of 2,530,000 shares. Additionally, shareholders elected two director nominees, Gerald E. Cunningham and Lisa Ann Nievaard, to the Board. The appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, was also ratified.

Finwise Bancorp announced that its Board of Directors has authorized a common stock repurchase program to acquire up to 685,000 shares, representing approximately 5% of its outstanding shares. The program is set to expire on May 31, 2028, and reflects the company's strong capital position and confidence in its long-term business trajectory. Finwise Bancorp reported a Bank Leverage Ratio of 16.8% and a tangible book value of $14.34 per share at the end of the first quarter.

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.

Finwise Bancorp reported a decrease in net income for the first quarter of 2026, falling 14.2% to $2.7 million, with diluted earnings per share at $0.20. Despite this, the company saw significant growth in net interest income, which nearly doubled to $28.1 million, and total non-interest income, which increased by 87.3% to $14.6 million. However, these gains were offset by a substantial 217.2% rise in the provision for credit losses to $10.6 million and a 97.9% increase in total non-interest expenses to $28.3 million.

FinWise Bancorp reported Q1 2026 results with loan originations reaching $1.7 billion, a 38% increase year-over-year. Net interest income significantly grew to $28.1 million, and net interest margin expanded to 12.90%. However, net income decreased to $2.7 million, resulting in diluted EPS of $0.20, both down compared to the prior quarter and prior year. The company noted elevated net charge-offs from both credit-enhanced and legacy SBA credits, expecting SBA charge-offs to remain high in the near term, while emphasizing a strengthening partner pipeline and strong long-term business trajectory.

FinWise Bancorp announced its 2026 Annual Meeting of Shareholders to be held on June 25, 2026. Key proposals include the election of two Class III directors, an amendment to the 2019 Stock Plan to increase available shares by 750,000, and the ratification of Baker Tilly US, LLP as the independent auditor. The Board unanimously recommends voting "FOR" all proposals. The filing also details recent management changes, with James F. Noone appointed CEO of the Company on April 6, 2026, and Kent Landvatter transitioning to Executive Chairman.

FinWise Bancorp announced a strategic program agreement with Vera, Inc. to launch an unsecured consumer credit card program. FinWise Bank will serve as the BIN Sponsor, while Vera will manage the program, targeting prime and near-prime U.S. consumers. This partnership expands FinWise's BIN sponsorship capabilities and delivers innovative financial products through Vera's mobile app, offering differentiated value with no annual fee and flexible rewards.

Finwise Bancorp announced a leadership transition, appointing Jim Noone as the new Chief Executive Officer of the Company, effective April 6, 2026. Mr. Noone will also continue his roles as President and Chief Executive Officer of FinWise Bank, the company's wholly-owned subsidiary. Kent Landvatter, the outgoing CEO, will remain an employee of the Company and the Bank, transitioning to the role of Executive Chairman with no changes to his existing compensation arrangements. This internal promotion leverages Mr. Noone's extensive experience within the company and the broader financial services sector.