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FinWise Bancorp operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah. The company operates in three segments: Traditional Banking; BaaS and Treasury; and Administration. The company provides various deposit products, including interest and noninterest-bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits. It offers loans, including consumer, small business administration, commercial, commercial real estate, and residential real estate loans. In addition, the company offers debit cards, remote deposit capture, online banking, mobile banking, and direct deposit services; and business accounts and cash management services, such as business checking and savings accounts, and treasury services. The company was formerly known as All West Bancorp. FinWise Bancorp was founded in 1999 and is headquartered in Murray, Utah.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $129M | - | $16M | $-34M | 8.3% | 57.7% | 26.3% |
| 2024 | $82M | - | $13M | $-20M | 7.3% | 7.1% | -27.0% |
| 2023 | $77M | - | $17M | $5M | 11.3% | -13.7% | -30.5% |
| 2022 | $89M | - | $25M | $54M | 17.9% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 88.78 | 76.61 | 82.02 | 129.37 |
| Operating Revenue | - | 88.78 | 76.61 | 82.02 | 129.37 |
| Selling General And Administration | - | 24.49 | 25.75 | 35.20 | 42.29 |
| Interest Income | - | 52.33 | 64.53 | 74.35 | 92.48 |
| Interest Expense | - | 1.43 | 9.98 | 15.44 | 20.30 |
| Net Interest Income | - | 50.90 | 54.56 | 58.91 | 72.18 |
| Pretax Income | - | 36.03 | 23.81 | 16.99 | 21.76 |
| Tax Provision | - | 10.92 | 6.35 | 4.25 | 5.67 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.52 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 25.12 | 17.46 | 12.74 | 16.09 |
| Net Income From Continuing And Discontinued Operation | - | 25.12 | 17.46 | 12.74 | 16.09 |
| Net Income From Continuing Operation Net Minority Interest | - | 25.12 | 17.46 | 12.74 | 16.09 |
| Net Income | - | 25.12 | 17.46 | 12.74 | 16.09 |
| Net Income Common Stockholders | - | 24.92 | 17.17 | 12.35 | 15.39 |
| Net Income Including Noncontrolling Interests | - | 25.12 | 17.46 | 12.74 | 16.09 |
| Normalized Income | - | 26.32 | 17.46 | 12.74 | 16.09 |
| Diluted NI Availto Com Stockholders | - | 24.92 | 17.17 | 12.35 | 15.39 |
| Basic Average Shares | - | 12.73 | 12.49 | 12.61 | 12.83 |
| Diluted Average Shares | - | 13.36 | 12.91 | 13.23 | 13.57 |
| Reconciled Depreciation | - | 2.11 | 3.81 | 5.29 | 4.86 |
| Total Unusual Items | -0.80 | -1.73 | 0.38 | - | - |
| Total Unusual Items Excluding Goodwill | -0.80 | -1.73 | 0.38 | - | - |
| Special Income Charges | -0.80 | -1.73 | 0.38 | - | - |
| Write Off | 0.80 | 1.73 | -0.38 | - | - |
| Gain On Sale Of Security | 2.99 | -0.48 | - | - | - |
| General And Administrative Expense | - | 24.49 | 25.75 | 35.20 | 42.29 |
| Salaries And Wages | - | 24.49 | 25.75 | 35.20 | 42.29 |
| Insurance And Claims | - | - | - | 0 | 1.22 |
| Otherunder Preferred Stock Dividend | - | 0.19 | 0.29 | 0.39 | 0.70 |
| Occupancy And Equipment | - | 2.20 | 3.31 | 2.18 | 1.88 |
| Professional Expense And Contract Services Expense | - | 5.45 | 4.96 | 4.74 | 3.63 |
| Other Non Interest Expense | - | 4.88 | 6.54 | 10.72 | 22.54 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FinWise Bancorpthis co. | FINW | $198M | 12.28↑ premium | 1.02 | 8.3% | - |
| First Internet Bancorp | INBK | $211M | -6.01 | 0.59 | -9.8% | - |
| First Capital, Inc. | FCAP | $210M | 12.81 | 1.52 | 11.9% | - |
| OP Bancorp | OPBK | $209M | 8.16 | 0.92 | 11.2% | - |
| CPI Card Group Inc. | PMTS | $203M | 13.59 |
| - |
| - |
| - |
| - |
| -11.73 |
| -86.3% |
| 6.22 |
| Consumer Portfolio Services, Inc. | CPSS | $200M | 10.37 | 0.65 | 6.2% | - |
| Citizens Community Bancorp, Inc. | CZWI | $198M | 13.74 | 1.05 | 7.7% | - |
| BCB Bancorp, Inc. | BCBP | $197M | -15.70 | 0.65 | -4.1% | - |
| CF Bankshares Inc. | CFBK | $187M | 10.68 | 1.02 | 9.5% | - |
| Peer Median | - | 10.53 | 0.78 | 7.0% | 6.22 | |