Finwise Bancorp

Finwise Bancorp reported a significant decrease in net income and diluted EPS for the second quarter of 2026, primarily driven by a substantial increase in the provision for credit losses. Despite higher total interest income, increased non-interest expenses also impacted profitability. The company also announced a stock repurchase program and completed the acquisition of Tallied Technologies, Inc. as a subsequent event.

FinWise Bancorp reported mixed financial results for the second quarter of 2026, with net income decreasing to $2.1 million and diluted EPS falling to $0.15, primarily due to higher provision expense on loans. Despite the decline in profitability, the company saw an increase in net interest income to $28.7 million and an improved efficiency ratio of 53.1%. Additionally, FinWise Bancorp announced the acquisition of Tallied Technologies, Inc.'s platform and repurchased $0.4 million in shares.

Finwise Bancorp reported second-quarter 2026 net income of $2.1 million and diluted EPS of $0.15, falling short of expectations due to higher provision expenses. Despite this, loan originations reached $1.6 billion, and the company successfully reduced nonperforming loan balances by $12.1 million. Finwise also announced the acquisition of Tallied Technologies platform and continued its share repurchase program.

FinWise Bancorp announced the acquisition of Tallied Technologies, Inc.'s platform, bringing its credit card issuing and processing capabilities in-house. This strategic move is expected to expand revenue capture by retaining fees and interest economics previously shared with a third-party. The transaction was funded with cash on hand, with an estimated $4.0 million in integration and transition costs over the next year. As a result, approximately $50 million in credit card balances will convert to the Bank's balance sheet, and the company's prior guidance for credit-enhanced balances no longer applies.

FinWise Bancorp has acquired the technology platform and related assets of Tallied Technologies, Inc., which powered the Bank's co-branded credit card programs. This strategic acquisition allows FinWise to own its card technology stack end-to-end, enabling it to retain fees, interchange, and interest economics previously shared with a third-party. The company anticipates approximately $4.0 million in integration and transition costs over the next year. Additionally, about $50 million in credit card balances will convert to standard balances on the Bank's balance sheet, and prior guidance for credit-enhanced balances is no longer applicable.

FinWise Bancorp announced it will report its second quarter 2026 financial results and host a conference call and webcast on Wednesday, July 29, 2026, after the market closes. The conference call is scheduled for 5:00 p.m. ET to discuss the results. Investors can access the live webcast on the company's website and submit questions via email prior to the call.

FinWise Bancorp held its 2026 Annual Meeting of Shareholders, where key proposals were approved. Shareholders voted to increase the number of shares available for awards under the 2019 Stock Plan by 750,000, bringing the total to 2,530,000 shares. Additionally, two director nominees were elected, and the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for fiscal year 2026 was ratified.

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.