Finwise Bancorp
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
FINW$14.42+5.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(in thousands, except share and par value amounts)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS · (Unaudited) | ||
| Cash and cash equivalents | ||
| Cash and due from banks | $7,705 | $411 |
| Interest-bearing deposits in other banks | 78,063 | 116,564 |
| Total cash and cash equivalents | 85,768 | 116,975 |
| Investment securities available-for-sale, at fair value, net of allowance for credit losses of $0, (amortized cost of $30.0 million) | 30,472 | — |
| Investment securities held-to-maturity, net of allowance for credit losses of $0, (fair value of $12.2 million and $13.8 million, respectively) | 13,270 | 15,388 |
| Investment in Federal Home Loan Bank ("FHLB") stock, at cost | 349 | 238 |
| Strategic Program loans held-for-sale, at lower of cost or fair value | 84,000 | 47,514 |
| Loans held for investment, net of allowance for credit losses of $12.7 million and $12.9 million, respectively | 418,065 | 358,560 |
| Premises and equipment, net | 17,099 | 14,630 |
| Accrued interest receivable | 3,098 | 3,573 |
| Small Business Administration (“SBA”) servicing asset, net | 3,261 | 4,231 |
| Investment in Business Funding Group ("BFG"), at fair value | 7,900 | 4,200 |
| Operating lease right-of-use (“ROU”) assets | 3,735 | 4,293 |
| Income taxes receivable, net | 3,317 | 2,400 |
| Other assets | 12,697 | 14,219 |
| Total assets | $683,031 | $586,221 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Liabilities | ||
| Deposits | ||
| Noninterest-bearing | $142,785 | $95,486 |
| Interest-bearing | 345,874 | 309,347 |
| Total deposits | 488,659 | 404,833 |
| Accrued interest payable | 647 | 619 |
| Income taxes payable, net | — | 1,873 |
| Deferred income taxes, net | 1,036 | 748 |
| Paycheck Protection Program Liquidity Facility | 106 | 190 |
| Operating lease liabilities | 5,542 | 6,296 |
| Other liabilities | 16,671 | 16,606 |
| Total liabilities | 512,661 | 431,165 |
| Commitments and contingencies (Note 6) | ||
| Shareholders’ equity | ||
| Preferred stock, $0.001 par value, 4,000,000 authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 | — | — |
| Common stock, $0.001 par value, 40,000,000 shares authorized; 13,211,160 and 12,493,565 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 13 | 12 |
| Additional paid-in-capital | 56,214 | 51,200 |
| Retained earnings | 113,801 | 103,844 |
| Accumulated other comprehensive income, net of tax | 342 | — |
| Total shareholders’ equity | 170,370 | 155,056 |
| Total liabilities and shareholders’ equity | $683,031 | $586,221 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.