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of Contents](#i8e7a842495b44c1ba3f0f4578f20a3fe_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, D.C. 20549\n\n__________________________________________________\n\nFORM 10-Q\n\n__________________________________________________\n\n(Mark One)\n\nxQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ________to ______.\n\nCommission File Number: 001-40721\n\n__________________________________________________\n\nFINWISE BANCORP\n\n(Exact Name of Registrant as Specified in its Charter)\n\n__________________________________________________\n\nUtah83-0356689\n\n(State or other jurisdiction of\nincorporation or organization)(I.R.S. Employer\nIdentification No.)\n\n756 East Winchester, Suite 100\n \n\nMurray, Utah\n84107\n\n(Address of principal executive offices)(Zip Code)\n\nRegistrant’s telephone number, including area code: (801) 501-7200\n\n__________________________________________________\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading\nSymbol(s)Name of each exchange on which registered\n\nCommon Stock, par value $0.001 per shareFINWThe NASDAQ Stock Market LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated fileroAccelerated filero\n\nNon-accelerated filerxSmaller reporting companyx\n\nEmerging growth companyx\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x\n\nAs of May 8, 2026, the registrant had 13,706,039 shares of common stock, $0.001 par value per share, outstanding.\n\n[Table of Contents](#i8e7a842495b44c1ba3f0f4578f20a3fe_7)\n\nFinWise Bancorp\n\nTable of Contents\n\nPage\n\n[Cautionary Note Regarding Forward-Looking Statements](#i8e7a842495b44c1ba3f0f4578f20a3fe_10)\n\n[3](#i8e7a842495b44c1ba3f0f4578f20a3fe_10)\n\n[PART I.](#i8e7a842495b44c1ba3f0f4578f20a3fe_13)\n\n[FINANCIAL INFORMATION](#i8e7a842495b44c1ba3f0f4578f20a3fe_13)\n\n[5](#i8e7a842495b44c1ba3f0f4578f20a3fe_13)\n\n[Item 1.](#i8e7a842495b44c1ba3f0f4578f20a3fe_16)\n\n[Financial Statements (Unaudited)](#i8e7a842495b44c1ba3f0f4578f20a3fe_16)\n\n[5](#i8e7a842495b44c1ba3f0f4578f20a3fe_16)\n\n[Consolidated Balance Sheets](#i8e7a842495b44c1ba3f0f4578f20a3fe_19)\n\n[5](#i8e7a842495b44c1ba3f0f4578f20a3fe_19)\n\n[Consolidated Statements of Income](#i8e7a842495b44c1ba3f0f4578f20a3fe_22)\n\n[6](#i8e7a842495b44c1ba3f0f4578f20a3fe_22)\n\n[Consolidated Statements of Comprehensive Income](#i8e7a842495b44c1ba3f0f4578f20a3fe_25)\n\n[7](#i8e7a842495b44c1ba3f0f4578f20a3fe_25)\n\n[Consolidated Statement of Changes in Shareholders’ Equity](#i8e7a842495b44c1ba3f0f4578f20a3fe_28)\n\n[8](#i8e7a842495b44c1ba3f0f4578f20a3fe_28)\n\n[Consolidated Statements of Cash Flows](#i8e7a842495b44c1ba3f0f4578f20a3fe_34)\n\n[9](#i8e7a842495b44c1ba3f0f4578f20a3fe_34)\n\n[Notes to Consolidated Financial Statements](#i8e7a842495b44c1ba3f0f4578f20a3fe_37)\n\n[10](#i8e7a842495b44c1ba3f0f4578f20a3fe_37)\n\n[Item 2.](#i8e7a842495b44c1ba3f0f4578f20a3fe_91)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i8e7a842495b44c1ba3f0f4578f20a3fe_91)\n\n[40](#i8e7a842495b44c1ba3f0f4578f20a3fe_91)\n\n[Item 3.](#i8e7a842495b44c1ba3f0f4578f20a3fe_121)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i8e7a842495b44c1ba3f0f4578f20a3fe_121)\n\n[63](#i8e7a842495b44c1ba3f0f4578f20a3fe_121)\n\n[Item 4.](#i8e7a842495b44c1ba3f0f4578f20a3fe_124)\n\n[Controls and Procedures](#i8e7a842495b44c1ba3f0f4578f20a3fe_124)\n\n[65](#i8e7a842495b44c1ba3f0f4578f20a3fe_124)\n\n[PART II.](#i8e7a842495b44c1ba3f0f4578f20a3fe_127)\n\n[OTHER INFORMATION](#i8e7a842495b44c1ba3f0f4578f20a3fe_127)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_148)\n\n[Item 1.](#i8e7a842495b44c1ba3f0f4578f20a3fe_130)\n\n[Legal Proceedings](#i8e7a842495b44c1ba3f0f4578f20a3fe_130)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_130)\n\n[Item 1A.](#i8e7a842495b44c1ba3f0f4578f20a3fe_133)\n\n[Risk Factors](#i8e7a842495b44c1ba3f0f4578f20a3fe_133)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_133)\n\n[Item 2.](#i8e7a842495b44c1ba3f0f4578f20a3fe_136)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i8e7a842495b44c1ba3f0f4578f20a3fe_136)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_136)\n\n[Item 3.](#i8e7a842495b44c1ba3f0f4578f20a3fe_142)\n\n[Defaults Upon Senior Securities](#i8e7a842495b44c1ba3f0f4578f20a3fe_142)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_142)\n\n[Item 4.](#i8e7a842495b44c1ba3f0f4578f20a3fe_145)\n\n[Mine Safety Disclosures](#i8e7a842495b44c1ba3f0f4578f20a3fe_145)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_145)\n\n[Item 5.](#i8e7a842495b44c1ba3f0f4578f20a3fe_148)\n\n[Other Information](#i8e7a842495b44c1ba3f0f4578f20a3fe_148)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_148)\n\n[Item 6.](#i8e7a842495b44c1ba3f0f4578f20a3fe_151)\n\n[Exhibits](#i8e7a842495b44c1ba3f0f4578f20a3fe_151)\n\n[66](#i8e7a842495b44c1ba3f0f4578f20a3fe_151)\n\n[SIGNATURES](#i8e7a842495b44c1ba3f0f4578f20a3fe_154)\n\n[68](#i8e7a842495b44c1ba3f0f4578f20a3fe_154)\n\n[Table of Contents](#i8e7a842495b44c1ba3f0f4578f20a3fe_7)\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nIn this Quarterly Report on Form 10-Q (this “Report”), unless we state otherwise or the context otherwise requires, references to “we,” “our,” “us,” “the Company” and “FinWise Bancorp” refer to FinWise Bancorp and its wholly owned subsidiaries, FinWise Bank (which we sometimes refer to as “FinWise Bank,” “FinWise,” “the Bank” or “our Bank,”) and FinWise Investment, LLC.\n\nThis Report contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “might,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “projection,” “forecast,” “budget,” “goal,” “target,” “would,” “aim” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry and management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. The inclusion of these forward-looking statements should not be regarded as a representation by us or any other person that such expectations, estimates and projections will be achieved. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.\n\nThe following factors, among others, could cause our financial performance to differ materially from that expressed in such forward-looking statements, including, but not limited to, the following:\n\n•the success of the financial technology and banking-as-a-service (“BaaS”) industries, as well as the continued evolution of the regulation of these industries;\n\n•the ability of our Fintech Banking and Payment Solutions service providers to comply with regulatory regimes, and our ability to adequately oversee and monitor our Fintech Banking and Payment Solutions service providers;\n\n•changes in the laws, rules, regulations, interpretations or policies relating to financial institutions, accounting, tax, trade, tariffs, monetary and fiscal matters, including the application of interest rate caps or maximums;\n\n•our ability to keep pace with rapid technological changes in the industry or implement new technology effectively including development of applications utilizing artificial intelligence;\n\n•system failure or cybersecurity breaches of our network security and potential exposure to fraud, negligence, computer theft and cyber-crime and other disruptions in our computer systems relating to our development and use of new technology platforms;\n\n•our ability to maintain and grow relationships with and reliance on our service providers for core systems support, informational website hosting, internet services, online account opening and other processing services;\n\n•increased national or regional competition in the banking and financial services industry including fintech companies acquiring banks or applying for bank charters;\n\n•the adequacy of our risk management framework and our ability to measure and manage our credit risk effectively;\n\n•the adequacy of our allowance for credit losses (“ACL”);\n\n•changes in Small Business Administration (“SBA”) rules, regulations and loan products, including specifically the Section 7(a) program, or changes to the status of the Bank as an SBA Preferred Lender;\n\n•changes in the existing regulatory framework for brokered deposits;\n\n•the performance of our loan portfolio including, the value of collateral securing our loans, our levels of nonperforming assets losses from loan defaults;\n\n•the sufficiency of the cash flows from the credit enhanced loan portfolios to absorb credit losses;\n\n3\n\n[Table of Contents](#i8e7a842495b44c1ba3f0f4578f20a3fe_7)\n\n•our ability to protect our intellectual property and the ability to defend claims and litigation of infringement initiated against us;\n\n•our ability to implement our growth strategy and to continue to launch new products and services successfully;\n\n•the anticipated benefits of any new lines of business that we may enter or investments or acquisitions we may make are not realized within the expected time frame or at all;\n\n•the concentration of our lending and depositor relationships through Strategic Programs (our nationwide strategic relationship programs) in the financial technology industry generally and our ability to develop a strong core deposit base or other low-cost funding sources;\n\n•our ability to manage interest rate, volatility and liquidity risks and the sufficiency of our capital;\n\n•the effectiveness of our internal control over financial reporting and our ability to remediate any significant deficiencies or material weakness that may occur in the future in our internal control over financial reporting;\n\n•dependence on our management team and changes in management composition;\n\n•compliance with laws and regulations, supervisory actions, the Dodd-Frank Act, capital requirements, the Bank Secrecy Act, and other anti-money laundering laws, predatory lending laws, and other statutes and regulations;\n\n•changes in legislative, regulatory or tax priorities;\n\n•our involvement from time to time in legal or regulatory proceedings, including any class action lawsuits;\n\n•natural disasters and adverse weather, acts of terrorism, pandemics, an outbreak of hostilities or other international or domestic calamities, including the ongoing conflicts in Iran and Middle East that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, and increase the volatility of financial markets, and other matters beyond our control;\n\n•the availability of future equity and debt issuances and other capital raising opportunities on favorable terms;\n\n•negative ratings outlooks or downgrades of our credit rating or securities or the U.S.’s long-term credit rating;\n\n•federal government shutdowns and other political impasses, including with respect to the U.S. debt ceiling and federal budget and any reductions in staffing at U.S. governmental agencies; and\n\n•other factors listed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), including in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”).\n\nThe foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this Report. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statements are based on information available to the Company as of the filing date of this Report, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for us to predict their occurrence. In addition, we cannot assess the impact of each risk and uncertainty on our business or the extent to which any risk or uncertainty, or combination of risks and uncertainties, may cause actual results to differ materially from those contained in any forward-looking statements.\n\n4\n\n[Table of Contents](#i8e7a842495b44c1ba3f0f4578f20a3fe_7)\n\nPART I FINANCIAL INFORMATION"}