FinWise Bancorp reported significant financial performance improvements in its latest 10-Q filing for the quarter ending September 30, 2025. The company achieved a net income of $4.9 million, a 41.6% increase from $3.5 million in the same quarter of the previous year. For the nine months ending September 30, 2025, net income rose to $12.2 million, up 22.4% from $9.9 million in the prior year. Total interest income for the third quarter increased by 26.6% to $24.0 million, driven by higher loan volumes, while interest expense also rose by 28.8% to $5.4 million, reflecting increased deposit costs.
The company’s total assets grew by 20.6% to $899.9 million as of September 30, 2025, compared to $745.9 million at the end of 2024. This growth was primarily attributed to a $85.7 million increase in loans held-for-investment and a $65.1 million rise in loans held-for-sale. Deposits also saw a substantial increase, rising by 25.2% to $682.3 million, largely due to an influx of brokered time deposits. The allowance for credit losses increased significantly to $25.8 million, reflecting the growth in the credit-enhanced loan portfolio and higher net charge-offs.
Strategically, FinWise Bancorp has implemented segment reporting, dividing its operations into three segments: traditional banking, banking as a service (BaaS), and treasury and administration. This change aims to enhance financial performance analysis and resource allocation. The BaaS segment, in particular, has shown strong growth, contributing significantly to the overall increase in loan originations, which reached $1.8 billion for the quarter, up from $1.4 billion year-over-year.
Operationally, the company reported a total of 13,571,090 shares outstanding as of September 30, 2025, with a slight increase in employee headcount reflecting its growth strategy. The company continues to focus on expanding its market presence, particularly in the fintech sector, while managing credit risk through careful underwriting practices. Looking ahead, FinWise Bancorp anticipates continued growth in its BaaS segment and is committed to maintaining strong capital levels to support its expansion plans.
About Finwise Bancorp
FinWise Bancorp is a bank holding company that operates through its wholly-owned subsidiary, FinWise Bank, offering consumer and small business banking services nationwide. It specializes in digital lending, SBA loans, real estate, and equipment financing, leveraging technology and strategic partnerships to streamline loan origination and delivery. The company focuses on diversified loan portfolios, innovative funding sources, and competitive deposit products to serve its markets.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.