FinWise Bancorp (FINW)
Market Price (11/6/2026): $13.67 | Market Cap: $187.9 MilSector: Financials | Industry: Regional Banks
FinWise Bancorp (FINW)
Market Price (11/6/2026): $13.67Market Cap: $187.9 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 100% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -23% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x Key risksFINW key risks include [1] significant credit exposure from a high level of bad loans and rising non-performing assets, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 100% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -23% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 32x |
| Key risksFINW key risks include [1] significant credit exposure from a high level of bad loans and rising non-performing assets, Show more. |
Qualitative Assessment
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Updated on 11/1/2026
FinWise Bancorp (FINW) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Analyst downgrades and price target reductions reflected a more cautious outlook. Between July 31, 2026, and early November 2026, several analysts adjusted their ratings and price targets for FinWise Bancorp. Stephens downgraded FINW from an "overweight" to an "equal weight" rating and set a $16.00 target price on August 6, 2026. Additionally, Raymond James lowered its price target to $15.00 from $16.00 on October 29, 2026, while maintaining an "Outperform" rating. Zacks Research also cut its rating from "hold" to "strong sell" on August 3, 2026. The average analyst rating for FINW subsequently shifted to "Hold" with an average price target of $15.50.
2. The significant fiscal Q3 2026 earnings beat was heavily influenced by a non-recurring acquisition gain. While FinWise Bancorp reported a strong diluted earnings per share (EPS) of $0.73 for fiscal Q3 2026, significantly beating the consensus estimate of $0.19, this performance was bolstered by a non-recurring, pre-tax bargain purchase gain of $6.5 million from the Tallied Technologies acquisition, completed on July 20, 2026. This one-time gain raised questions about the sustainability of future earnings growth from core operations, as some Q3 strengths were noted by management as potentially non-sustainable.
Show more
FinWise Bancorp (FINW) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Analyst downgrades and price target reductions reflected a more cautious outlook. Between July 31, 2026, and early November 2026, several analysts adjusted their ratings and price targets for FinWise Bancorp. Stephens downgraded FINW from an "overweight" to an "equal weight" rating and set a $16.00 target price on August 6, 2026. Additionally, Raymond James lowered its price target to $15.00 from $16.00 on October 29, 2026, while maintaining an "Outperform" rating. Zacks Research also cut its rating from "hold" to "strong sell" on August 3, 2026. The average analyst rating for FINW subsequently shifted to "Hold" with an average price target of $15.50.
2. The significant fiscal Q3 2026 earnings beat was heavily influenced by a non-recurring acquisition gain. While FinWise Bancorp reported a strong diluted earnings per share (EPS) of $0.73 for fiscal Q3 2026, significantly beating the consensus estimate of $0.19, this performance was bolstered by a non-recurring, pre-tax bargain purchase gain of $6.5 million from the Tallied Technologies acquisition, completed on July 20, 2026. This one-time gain raised questions about the sustainability of future earnings growth from core operations, as some Q3 strengths were noted by management as potentially non-sustainable.
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Updated on 11/1/2026
FinWise Bancorp (FINW) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Analyst downgrades and price target reductions reflected a more cautious outlook. Between July 31, 2026, and early November 2026, several analysts adjusted their ratings and price targets for FinWise Bancorp. Stephens downgraded FINW from an "overweight" to an "equal weight" rating and set a $16.00 target price on August 6, 2026. Additionally, Raymond James lowered its price target to $15.00 from $16.00 on October 29, 2026, while maintaining an "Outperform" rating. Zacks Research also cut its rating from "hold" to "strong sell" on August 3, 2026. The average analyst rating for FINW subsequently shifted to "Hold" with an average price target of $15.50.
2. The significant fiscal Q3 2026 earnings beat was heavily influenced by a non-recurring acquisition gain. While FinWise Bancorp reported a strong diluted earnings per share (EPS) of $0.73 for fiscal Q3 2026, significantly beating the consensus estimate of $0.19, this performance was bolstered by a non-recurring, pre-tax bargain purchase gain of $6.5 million from the Tallied Technologies acquisition, completed on July 20, 2026. This one-time gain raised questions about the sustainability of future earnings growth from core operations, as some Q3 strengths were noted by management as potentially non-sustainable.
3. Fiscal Q3 2026 revenue missed analyst estimates, coupled with a cautious forward outlook from management. Despite the EPS beat, FinWise Bancorp's fiscal Q3 2026 revenue of $33.02 million fell short of the $41.63 million consensus estimate. Furthermore, management provided a tempered outlook, anticipating that loan originations for fiscal Q4 2026 would normalize to approximately $1.5 billion-$1.6 billion, a decrease from the $2.1 billion recorded in fiscal Q3 2026. They also projected lower Small Business Administration (SBA) loan-sale activity in fiscal year 2027.
4. The termination of the Upstart partnership introduced uncertainty regarding future fintech collaborations. Effective September 30, 2026, FinWise Bancorp and Upstart mutually agreed to end their sponsorship relationship. While management stated that Upstart contributed an "immaterial" amount of origination volume and revenue in fiscal Q3 2026 and that the termination was not expected to have a material impact on financial condition or operations, the loss of a fintech partner could still be a point of concern for investors evaluating the company's long-term growth strategy and diversification within its banking-as-a-service model.
Show less
FinWise Bancorp (FINW) stock has remained largely at the same level since 7/31/2026 because of the following key factors:
1. Analyst downgrades and price target reductions reflected a more cautious outlook. Between July 31, 2026, and early November 2026, several analysts adjusted their ratings and price targets for FinWise Bancorp. Stephens downgraded FINW from an "overweight" to an "equal weight" rating and set a $16.00 target price on August 6, 2026. Additionally, Raymond James lowered its price target to $15.00 from $16.00 on October 29, 2026, while maintaining an "Outperform" rating. Zacks Research also cut its rating from "hold" to "strong sell" on August 3, 2026. The average analyst rating for FINW subsequently shifted to "Hold" with an average price target of $15.50.
2. The significant fiscal Q3 2026 earnings beat was heavily influenced by a non-recurring acquisition gain. While FinWise Bancorp reported a strong diluted earnings per share (EPS) of $0.73 for fiscal Q3 2026, significantly beating the consensus estimate of $0.19, this performance was bolstered by a non-recurring, pre-tax bargain purchase gain of $6.5 million from the Tallied Technologies acquisition, completed on July 20, 2026. This one-time gain raised questions about the sustainability of future earnings growth from core operations, as some Q3 strengths were noted by management as potentially non-sustainable.
3. Fiscal Q3 2026 revenue missed analyst estimates, coupled with a cautious forward outlook from management. Despite the EPS beat, FinWise Bancorp's fiscal Q3 2026 revenue of $33.02 million fell short of the $41.63 million consensus estimate. Furthermore, management provided a tempered outlook, anticipating that loan originations for fiscal Q4 2026 would normalize to approximately $1.5 billion-$1.6 billion, a decrease from the $2.1 billion recorded in fiscal Q3 2026. They also projected lower Small Business Administration (SBA) loan-sale activity in fiscal year 2027.
4. The termination of the Upstart partnership introduced uncertainty regarding future fintech collaborations. Effective September 30, 2026, FinWise Bancorp and Upstart mutually agreed to end their sponsorship relationship. While management stated that Upstart contributed an "immaterial" amount of origination volume and revenue in fiscal Q3 2026 and that the termination was not expected to have a material impact on financial condition or operations, the loss of a fintech partner could still be a point of concern for investors evaluating the company's long-term growth strategy and diversification within its banking-as-a-service model.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -0.7% change in FINW stock from 7/31/2026 to 11/5/2026 was primarily driven by a -26.8% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.76 | 13.67 | -0.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 150 | 179 | 19.5% |
| Net Income Margin (%) | 10.4% | 7.6% | -26.8% |
| P/E Multiple | 11.5 | 13.1 | 14.4% |
| Shares Outstanding (Mil) | 13 | 13 | -0.7% |
| Cumulative Contribution | -0.7% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| FINW | -0.7% | |
| Market (SPY) | -1.9% | -0.5% |
| Sector (XLF) | 1.0% | 29.5% |
Fundamental Drivers
The -12.1% change in FINW stock from 4/30/2026 to 11/5/2026 was primarily driven by a -38.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.55 | 13.67 | -12.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 129 | 179 | 38.6% |
| Net Income Margin (%) | 12.4% | 7.6% | -38.7% |
| P/E Multiple | 12.5 | 13.1 | 4.7% |
| Shares Outstanding (Mil) | 13 | 13 | -1.2% |
| Cumulative Contribution | -12.1% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| FINW | -12.1% | |
| Market (SPY) | 2.3% | -8.3% |
| Sector (XLF) | 10.7% | 27.0% |
Fundamental Drivers
The -28.8% change in FINW stock from 10/31/2025 to 11/5/2026 was primarily driven by a -49.4% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.19 | 13.67 | -28.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 90 | 179 | 99.8% |
| Net Income Margin (%) | 15.1% | 7.6% | -49.4% |
| P/E Multiple | 18.1 | 13.1 | -27.7% |
| Shares Outstanding (Mil) | 13 | 13 | -2.5% |
| Cumulative Contribution | -28.8% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| FINW | -28.8% | |
| Market (SPY) | 8.4% | 7.0% |
| Sector (XLF) | 11.1% | 30.7% |
Fundamental Drivers
The 60.8% change in FINW stock from 10/31/2023 to 11/5/2026 was primarily driven by a 128.8% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.50 | 13.67 | 60.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 79 | 179 | 127.4% |
| Net Income Margin (%) | 23.7% | 7.6% | -67.8% |
| P/E Multiple | 5.7 | 13.1 | 128.8% |
| Shares Outstanding (Mil) | 13 | 13 | -3.9% |
| Cumulative Contribution | 60.8% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| FINW | 60.8% | |
| Market (SPY) | 81.3% | 25.0% |
| Sector (XLF) | 85.5% | 33.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FINW Return | 8% | -33% | 55% | 12% | 12% | -24% | 7% |
| Peers Return | 27% | -35% | 14% | 10% | 12% | 5% | 21% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| FINW Win Rate | 100% | 50% | 42% | 58% | 50% | 36% | |
| Peers Win Rate | 51% | 35% | 57% | 50% | 55% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| FINW Max Drawdown | - | -60% | -21% | -41% | -34% | -45% | |
| Peers Max Drawdown | -26% | -52% | -42% | -28% | -32% | -22% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CASH, LOB, ESQ, GDOT, MQ.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | FINW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.6% | 23.1% |
| Time to Breakeven | 160 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.9% | -6.7% |
| % Gain to Breakeven | 21.8% | 7.1% |
| Time to Breakeven | 67 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.9% | -24.5% |
| % Gain to Breakeven | 63.5% | 32.4% |
| Time to Breakeven | 429 days | 427 days |
In The Past
FinWise Bancorp's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.6% gain to breakeven.
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Asset Allocation
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| Event | FINW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.6% | 23.1% |
| Time to Breakeven | 160 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.9% | -24.5% |
| % Gain to Breakeven | 63.5% | 32.4% |
| Time to Breakeven | 429 days | 427 days |
In The Past
FinWise Bancorp's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About FinWise Bancorp (FINW)
FinWise Bancorp (FINW) operates as the bank holding company for FinWise Bank, providing a comprehensive range of banking products and services. The company's core mission is to serve the financial needs of both individual consumers and corporate clients. It functions as a traditional bank, focusing on facilitating financial transactions and providing essential banking tools.
The bank's primary offerings are categorized into deposit and loan products. For deposits, customers can access various accounts, including demand, NOW, money market, checking, and savings accounts, along with time deposits and certificates of deposit (CDs). On the lending side, FinWise Bank specializes in Small Business Administration (SBA) loans, residential and commercial real estate loans, consumer loans, and commercial non-real estate loans, catering to diverse borrowing requirements.
In addition to its core deposit and lending services, FinWise Bancorp offers modern banking conveniences such as debit cards, remote deposit capture, online banking, mobile banking, and direct deposit services. It also provides specialized cash management and treasury services for its corporate clientele. The company operates one full-service banking location in Sandy, Utah, and a loan production office in Rockville Centre, New York, serving customers within these geographic areas.
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Here are 1-3 brief analogies for FinWise Bancorp (FINW):
- FinWise Bancorp is like a smaller, community-focused version of a traditional regional bank such as U.S. Bank, providing a full range of deposit and loan products.
- Think of FinWise Bancorp as a local, full-service bank, similar to what a single branch of Chase Bank or Bank of America offers, but operating independently and with a more localized presence.
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- Deposit Accounts: Offers various types of checking, savings, money market, and NOW accounts to individuals and corporations.
- Certificates of Deposit (CDs): Provides time-bound deposit accounts with fixed interest rates for a specified term.
- Small Business Administration (SBA) Loans: Offers government-backed loans designed to support the growth and operations of small businesses.
- Real Estate Loans: Provides financing for both residential and commercial property purchases, construction, and development.
- Consumer Loans: Extends loans to individuals for personal use, such as auto financing or other personal needs.
- Commercial Non-Real Estate Loans: Funds businesses for their operational needs, working capital, and expansion, distinct from real estate financing.
- Digital Banking Services: Includes online banking and mobile banking platforms for convenient account management and transactions.
- Cash Management and Payment Services: Offers services such as debit cards, remote deposit capture, direct deposit, and treasury services to manage finances efficiently.
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FinWise Bancorp (FINW) provides a range of banking products and services to a diverse customer base, including both individuals and businesses. Rather than having a few "major customers" in the traditional sense of a supplier-buyer relationship, banks typically serve broad categories of clients. Based on the description, its major customer categories include:
- Individual Consumers: These customers utilize services such as interest and noninterest bearing demand, NOW, money market, checking and savings accounts, time deposits, certificates of deposits, residential real estate loans, consumer loans, debit cards, online banking, mobile banking, and direct deposit services.
- Small and Medium-sized Businesses (SMBs): This category encompasses corporate customers seeking various deposit products, Small Business Administration (SBA) loans, commercial non-real estate loans, remote deposit capture, online banking, mobile banking, and cash management and treasury services.
- Commercial Real Estate Investors and Developers: This customer segment specifically targets commercial real estate loans for the acquisition, development, or refinancing of commercial properties.
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- Jack Henry & Associates (JKHY)
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Kent Landvatter, Chairman of the Board and CEO of FinWise Bancorp
Mr. Landvatter has over 40 years of financial services and banking experience, having joined FinWise Bank in 2010. He previously presided over two de novo industrial banks, World Financial Capital Bank (now Comenity Capital Bank) and Goldman Sachs Bank USA.
Robert Wahlman, Chief Financial Officer
Mr. Wahlman joined FinWise Bank in March 2024 and brings over 35 years of experience in the banking industry, with nearly 20 years as Chief Financial Officer for both private and publicly listed bank holding companies. He previously served as CFO for Axiom Bancshares, Inc., Customers Bancorp, Inc., Doral Financial Corp, and Merrill Lynch US Banks. Mr. Wahlman played a key role in restoring Axiom Bank to profitable operations and has served on three bank boards of directors.
Jim Noone, CEO and President of FinWise Bank, President of FinWise Bancorp
Mr. Noone joined FinWise Bank in February 2018. He has over 20 years of financial services experience, including commercial banking, investment banking, and private equity. Before joining FinWise, he served as Executive Vice President of Prudent Lenders, an SBA service provider, from 2012 to 2018.
Michael O'Brien, EVP, Chief Corporate Counsel and Corporate Secretary
Mr. O'Brien joined FinWise in September 2021. He founded his own boutique law firm, O'Brien Corporate and Finance Law, and possesses over 20 years of legal, compliance, and risk management experience in financial services. His prior roles include Chief Compliance Officer at EnerBank USA and Chief Compliance Officer and Corporate Counsel at Snap Finance.
Natasha “Tasha” Clayton, EVP, Chief Operating Officer
Ms. Clayton assumed the role of Senior Vice President and Interim Chief Operating Officer at FinWise Bank in January 2024.
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FinWise Bancorp (FINW) faces several key risks to its business, primarily stemming from its strategic program lending model and reliance on fintech partnerships.
- Increased Regulatory Scrutiny and Compliance Risks for Fintech Partnerships: FinWise Bancorp's business model, particularly its Strategic Program (Banking-as-a-Service or BaaS) through partnerships with fintech companies, exposes it to significant regulatory and compliance risks. There is increased scrutiny from bodies like the Consumer Financial Protection Bureau (CFPB) on bank-FinTech partnerships, making FinWise responsible for the compliance of its fintech partners. The regulatory environment in 2025 has reportedly tightened, compelling FinWise to allocate more resources to compliance and risk management. There are also concerns raised by consumer advocacy groups regarding "rent-a-bank" schemes and predatory lending practices by some of FinWise's partners, which could lead to regulatory downgrades or enforcement actions from regulators such as the FDIC.
- Credit Risk and Impact of Economic and Legislative Changes on Lending Programs: As a lender, FinWise Bancorp is inherently exposed to credit risk, which is the risk that borrowers may not repay their loans on time or at all, or that the value of collateral may be insufficient. This risk is amplified by economic downturns and elevated interest rates, which have already led to non-performing loans, particularly in its SBA 7(a) portfolio. Furthermore, there is a concrete legislative threat from potential new federal legislation, such as a national usury cap on consumer loans (e.g., 36% APR), which could significantly impact or eliminate high-margin segments of FinWise Bancorp's lending programs.
- Data Security, Operational Risks, and Competition: FinWise Bancorp, as a technology-focused bank, faces operational risks, including data security threats. The company experienced a data breach affecting nearly 700,000 people, with a delayed disclosure that led to class-action lawsuits seeking significant damages and potential reputational harm. This highlights risks related to employee access controls and regulatory disclosure timelines. Additionally, FinWise operates in a highly competitive financial services industry, competing with commercial banks, savings banks, credit unions, non-bank financial services companies, and other fintech-focused banks, many of which may not be subject to the same extensive regulations, offering them greater flexibility.
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The emergence and rapid growth of digital-only banks and neobanks, which offer banking services primarily through mobile apps and online platforms without the overhead of physical branches, represent a clear threat by providing lower fees, potentially higher interest rates, and a more seamless digital customer experience, directly competing for FinWise Bancorp's deposit base and basic banking services.
Additionally, specialized fintech lending platforms leveraging technology to offer faster, more streamlined processes for various loan types, including small business, consumer, and commercial non-real estate loans, pose a clear emerging threat to FinWise Bancorp's core lending business by offering alternative, often more convenient, financing solutions.
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FinWise Bancorp offers a range of banking products and services, primarily targeting individual and corporate customers. The addressable markets for its main products and services in the U.S. are as follows:
- Deposit Products: The total deposits across all commercial banks in the United States were approximately $18.12 trillion in April 2025. Specifically, the U.S. Certificate of Deposit market was valued at $212.125 billion in 2024 and is projected to reach $257.305 billion by 2030.
- Small Business Administration (SBA) Loans: The U.S. small business loan market, which includes SBA loans, was valued at $245.39 billion in 2023 and is projected to grow to $349.64 billion by 2033. SBA 7(a) loan approvals totaled $31.1 billion in 2024, with projections for SBA lending to reach $55-56 billion in 2025.
- Residential Real Estate Loans (Home Loans): The U.S. home loan market is estimated at $2.42 trillion in 2026 and is projected to grow to $3.17 trillion by 2031.
- Commercial Real Estate Loans: The total value of commercial real estate loans held by all commercial banks in the United States was approximately $3.03 trillion in July 2025.
- Consumer Loans (Personal Loans): The U.S. personal loans market is estimated to reach $148.64 billion in 2026.
- Commercial Non-Real Estate Loans (Unsecured Commercial Lending): The unsecured commercial lending market in the U.S., a component of commercial non-real estate loans, is estimated at $500 billion in 2025.
- Cash Management and Treasury Services: The North America Cash Management System Market is expected to reach $8.83 billion in the U.S. by 2031.
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Expected Drivers of Future Revenue Growth for FinWise Bancorp (FINW)
Over the next 2-3 years, FinWise Bancorp (FINW) is expected to drive revenue growth through several key initiatives and market trends:
- Growth in Strategic Program Lending and Fintech Partnerships: FinWise Bancorp anticipates continued expansion within its Strategic Program Lending business, which involves partnerships with fintech companies. This includes securing new program agreements and broadening product offerings with existing relationships. For instance, the company announced new program agreements in Q1 2024 and is in the process of expanding product offerings with certain existing relationships. Furthermore, FinWise provides banking and payment solutions to fintech brands, powering deposit, lending, and payment programs for these entities.
- Expansion of the Credit-Enhanced Balance Sheet Program: The company's Credit-Enhanced Balance Sheet Program is a significant contributor to revenue growth. This program has led to increased net interest income and improved net interest margin, primarily due to higher contractual interest rates on these credit-enhanced loans. In Q4 2025, credit-enhanced loan balances reached $118 million, exceeding prior guidance, and significantly contributed to a sequential increase in net interest income.
- Increased Loan Originations: FinWise Bancorp has consistently demonstrated robust growth in loan originations, which directly fuels interest income. The company reported nearly $1.1 billion in originations in Q1 2024. Loan originations further grew to $1.4 billion in Q3 2024, a notable increase from previous quarters. For the full year 2025, loan originations totaled $6.1 billion, representing a 22% year-over-year increase. The company anticipates a quarterly baseline of $1.4 billion in loan originations for 2026, with a projected growth of 5%.
- Launch of New Products and Services and Diversification: FinWise Bancorp is focused on launching new products and services and expanding into new verticals to diversify its revenue streams. The company has introduced new product initiatives, including the first meaningful contributions from Earnest and Plannery in Q3 2024. Additionally, FinWise Bancorp has launched new strategic programs specifically targeting underbanked communities. A recent example includes an agreement with Albert Corporation in February 2026 to offer short-term personal loans.
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Share Repurchases
- FinWise Bancorp completed a share repurchase program during the third quarter of 2023, which had authorized the buyback of up to 644,241 shares beginning in August 2022.
- In March 2024, the company announced a new share repurchase program, authorizing the repurchase of up to 641,832 shares, representing approximately 5% of its total outstanding shares as of March 6, 2024. This program is set to expire on March 31, 2026.
- As of December 31, 2025, FinWise Bancorp had repurchased and retired a total of 44,608 shares for $0.5 million under the March 2024 share repurchase program.
Share Issuance
- In November 2021, FinWise Bancorp completed its Initial Public Offering (IPO) of 4,025,000 shares of common stock at $10.50 per share.
- The IPO resulted in gross proceeds to the company of approximately $42.3 million, with net proceeds of approximately $35.6 million after deducting underwriting discounts and estimated offering expenses.
- The net proceeds from the IPO were intended to fund organic growth, continue the buildout of operating infrastructure, and for general corporate purposes, including potential future acquisitions and maintenance of regulatory capital levels.
Capital Expenditures
- FinWise Bancorp consistently highlights its investment in becoming an integrated Fintech banking solutions provider.
- The company uses capital to continue the buildout of its operating infrastructure.
- A key focus of investments is expanding and diversifying its business model by incorporating Payments (MoneyRails™) and BIN Sponsorship offerings.
Peer Outperformance in Regional Banks
nullShare of Regional Banks constituents that FINW has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
1%
of 281 industry peers · -28.8% return
3Y
10%
of 273 industry peers · 35.3% return
5Y
—
insufficient peer history
null
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is FINW's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 33.1% | 75.7% | 125.1% | SPNT 168% · RGA 162% · RNR 141% |
| Investment Banking & Brokerage | 13 | -3.9% | 89.1% | 93.1% | IBKR 305% · SNEX 152% · GS 141% |
| Diversified Banks | 12 | 30.0% | 140.4% | 90.3% | CM 144% · RY 129% · JPM 127% |
| Life & Health Insurance | 20 | 14.3% | 52.3% | 75.4% | JXN 514% · UNM 224% · FG 188% |
| Property & Casualty Insurance | 42 | 18.9% | 76.8% | 66.8% | TRV 178% · PGR 172% · ACGL 168% |
| Multi-Sector Holdings | 3 | 10.1% | 53.8% | 59.4% | BRK-B 99% · VOYA 59% · JEF 37% |
| Multi-line Insurance | 9 | 9.5% | 71.4% | 59.4% | AIZ 105% · GNW 104% · L 98% |
| Regional Banks ← | 263 | 30.0% | 87.5% | 46.7% | CBC 268% · FCNCA 176% · NIC 136% |
| Insurance Brokers | 15 | 5.5% | 13.4% | 33.4% | LIFE 287% · ARX 89% · WTW 56% |
| Financial Exchanges & Data | 15 | 20.6% | 37.2% | 27.9% | CBOE 183% · VIRT 131% · CME 71% |
| Asset Management & Custody Banks | 83 | -5.9% | 22.8% | 12.3% | VCTR 210% · AAMI 207% · WT 205% |
| Consumer Finance | 30 | 2.9% | 81.0% | 8.1% | ENVA 330% · FCFS 130% · ECPG 111% |
| Commercial & Residential Mortgage Finance | 14 | -46.5% | 36.8% | 2.5% | FNMA 327% · FMCC 293% · ACT 158% |
| Diversified Financial Services | 4 | -1.6% | 20.1% | -1.1% | FRHC 153% · EQH 71% |
| Specialized Finance | 3 | 15.8% | 31.5% | -19.7% | HASI -20% · CACC -24% |
| Transaction & Payment Processing Services | 17 | 19.3% | 9.1% | -29.4% | V 103% · MA 94% · CPAY 83% |
| Mortgage REITs | 35 | -18.0% | -6.1% | -37.2% | RITM 36% · DX 17% · AGNC 10% |
| Diversified Capital Markets | 20 | -47.1% | -8.5% | -70.1% | LPLA 83% · TW 38% · RIOT -53% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
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|---|---|---|
| DASHBOARDS | ||
| FinWise Bancorp Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 26.09 |
| Mkt Cap | 1.3 |
| Rev LTM | 645 |
| Op Inc LTM | 14 |
| FCF LTM | 95 |
| FCF 3Y Avg | 61 |
| CFO LTM | 148 |
| CFO 3Y Avg | 103 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.1% |
| Rev Chg 3Y Avg | 14.0% |
| Rev Chg Q | 17.9% |
| QoQ Delta Rev Chg LTM | 4.2% |
| Op Inc Chg LTM | 17.4% |
| Op Inc Chg 3Y Avg | 22.6% |
| Op Mgn LTM | 0.8% |
| Op Mgn 3Y Avg | -3.2% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 31.3% |
| CFO/Rev 3Y Avg | 16.4% |
| FCF/Rev LTM | 27.9% |
| FCF/Rev 3Y Avg | 10.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Banking as a service (BaaS) | 95 | ||||
| Traditional Banking | 32 | ||||
| Treasury and Administration | 5 | ||||
| Intersegment Eliminations | 0 | ||||
| Bank | 82 | 77 | 89 | 80 | |
| Total | 132 | 82 | 77 | 89 | 80 |
| $ Mil | 2025 |
|---|---|
| Banking as a service (BaaS) | 11 |
| Traditional Banking | 3 |
| Treasury and Administration | 3 |
| Intersegment Eliminations | 0 |
| Total | 16 |
| $ Mil | 2025 | 2020 |
|---|---|---|
| Traditional Banking | 440 | |
| Banking as a service (BaaS) | 278 | |
| Treasury and Administration | 259 | |
| Intersegment Eliminations | 0 | |
| Bank | 318 | |
| Total | 977 | 318 |
Price Behavior
Price Behavior
| Market Price | $13.67 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 11/19/2021 | |
| Distance from 52W High | -28.9% | |
| 50 Days | 200 Days | |
| DMA Price | $12.07 | $14.46 |
| DMA Trend | down | down |
| Distance from DMA | 13.2% | -5.4% |
| 3M | 1YR | |
| Volatility | 53.0% | 38.1% |
| Downside Capture | -6.76 | 55.16 |
| Upside Capture | -33.67 | 8.07 |
| Correlation (S&P 500) | -2.2% | 9.1% |
FINW Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.74 | -0.45 | -0.27 | -0.42 | 0.19 | 0.66 |
| Up Beta | -4.11 | -2.36 | -0.90 | -1.48 | -0.14 | 0.45 |
| Down Beta | 2.83 | 0.45 | -0.09 | -0.16 | 0.05 | 0.87 |
| Up Capture | -38% | -53% | -18% | -25% | 9% | 38% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 14 | 26 | 55 | 106 | 349 |
| Down Capture | -321% | -12% | 4% | -2% | 71% | 87% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 29 | 37 | 68 | 134 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FINW | |
|---|---|---|---|---|
| FINW | -28.0% | 38.1% | -0.80 | - |
| Sector ETF (XLF) | 11.1% | 15.2% | 0.47 | 31.0% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 6.6% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 0.5% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -24.0% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 34.4% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | -3.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FINW | |
|---|---|---|---|---|
| FINW | 2.2% | 39.4% | 0.15 | - |
| Sector ETF (XLF) | 9.1% | 18.4% | 0.36 | 29.8% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 24.3% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 1.3% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 1.5% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 22.4% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 7.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FINW | |
|---|---|---|---|---|
| FINW | 1.1% | 39.4% | 0.15 | - |
| Sector ETF (XLF) | 13.3% | 22.1% | 0.54 | 29.8% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 24.3% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 1.3% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 1.5% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 22.4% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 7.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2026 | 23.2% | 26.3% | |
| 7/29/2026 | -2.8% | 0.0% | -1.4% |
| 4/30/2026 | -3.8% | -10.0% | -9.5% |
| 1/29/2026 | -5.1% | -5.6% | -8.9% |
| 10/29/2025 | 4.7% | 7.7% | 1.1% |
| 7/24/2025 | 10.4% | 14.1% | 23.2% |
| 4/30/2025 | -3.8% | -8.3% | -5.2% |
| 1/30/2025 | 11.5% | 18.8% | 17.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 10 |
| # Negative | 9 | 9 | 9 |
| Median Positive | 4.7% | 7.7% | 9.6% |
| Median Negative | -3.6% | -5.9% | -8.9% |
| Max Positive | 23.2% | 26.3% | 31.2% |
| Max Negative | -6.3% | -18.2% | -41.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/28/2026 | 23.2% | 26.3% | |
| 7/29/2026 | -2.8% | 0.0% | -1.4% |
| 4/30/2026 | -3.8% | -10.0% | -9.5% |
| 1/29/2026 | -5.1% | -5.6% | -8.9% |
| 10/29/2025 | 4.7% | 7.7% | 1.1% |
| 7/24/2025 | 10.4% | 14.1% | 23.2% |
| 4/30/2025 | -3.8% | -8.3% | -5.2% |
| 1/30/2025 | 11.5% | 18.8% | 17.0% |
| 10/24/2024 | 0.1% | 4.2% | 11.1% |
| 7/25/2024 | 4.7% | 7.1% | 8.8% |
| 4/29/2024 | -1.1% | -1.0% | -6.6% |
| 1/29/2024 | -3.3% | -18.2% | -41.0% |
| 10/26/2023 | 0.0% | 2.1% | 31.2% |
| 7/27/2023 | 7.8% | 19.0% | 9.5% |
| 4/27/2023 | -2.2% | -5.9% | -9.3% |
| 1/25/2023 | 0.0% | -3.2% | 3.7% |
| 10/26/2022 | 5.5% | 5.3% | 9.8% |
| 7/27/2022 | -3.6% | -3.1% | 6.3% |
| 4/28/2022 | -6.3% | -11.1% | -18.1% |
| 2/23/2022 | 0.9% | 13.6% | -1.8% |
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 10 |
| # Negative | 9 | 9 | 9 |
| Median Positive | 4.7% | 7.7% | 9.6% |
| Median Negative | -3.6% | -5.9% | -8.9% |
| Max Positive | 23.2% | 26.3% | 31.2% |
| Max Negative | -6.3% | -18.2% | -41.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/23/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/25/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/23/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/25/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/30/2022 | 10-K |
| 09/30/2021 | 11/19/2021 | 424B4 |
| 03/31/2021 | 08/04/2021 | S-1/A |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 11/5/2026