FinWise Bancorp (FINW) Q4 2025 earnings summary

Executive summary

• Net income for 2025 was $16.1 million, up 26% year-over-year, with Q4 net income of $3.9 million and diluted EPS of $1.13 for the year and $0.27 for Q4.

• Loan originations reached $6.1 billion for 2025, up 22% year-over-year, with $1.6 billion in Q4, exceeding guidance.

• Tangible book value per share rose to $14.15 at year-end, up from $13.84 in Q3 and $13.15 in Q4 2024.

• Strategic partnerships, new product launches like DreamFi and MoneyRails, and the full launch of Credit Enhanced Lending in mid-2025 contributed to business expansion and innovation.

• Total assets reached $977 million at year-end, a 31% increase year-over-year.

Financial highlights

• Net interest income for Q4 was $24.6 million, up from $18.6 million in Q3 and $15.5 million in Q4 2024.

• Non-interest income for Q4 was $22.3 million, up from $18 million in Q3 and $5.6 million in Q4 2024.

• Efficiency ratio improved to 50.5% in Q4 from 64.2% in Q4 2024.

• Net interest margin for Q4 was 11.42%, up from 9.01% in Q3.

• Return on average assets for 2025 was 1.7%; return on average equity was 8.1%.

Outlook and guidance

• Q1 2026 loan originations are tracking at a $1.4 billion quarterly run rate; full-year 2026 originations expected to grow 5% year-over-year.

• Credit-enhanced balances projected to grow $8–$10 million per month in 2026.

• Net charge-offs for non-credit enhanced loans expected at $3.5 million per quarter.

• Management expects continued growth in loan portfolios, especially in SBA and commercial lease segments, and further improvement in efficiency ratio as revenues from credit enhanced loans increase.

• Focus remains on positive operating leverage, with expense growth tied to revenue production.