Finwise Bancorp
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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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, 2025 · Filed Nov 10, 2025
FINW$14.71+2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income | $12,176 | $9,949 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation and amortization | 3,652 | 4,154 |
| Provision for credit losses | 20,861 | 7,696 |
| Noncash operating lease cost | 402 | 558 |
| Net (accretion) amortization of securities (discounts) and premiums | (20) | (17) |
| Other | (1,221) | — |
| Gain on sale of loans, net | (4,183) | (1,164) |
| Originations of Strategic Program loans held-for-sale | (4,275,141) | (3,594,347) |
| Proceeds from sale of Strategic Program loans held-for-sale | 4,210,677 | 3,557,861 |
| Change in fair value of BFG | (900) | 425 |
| Impairment (recovery) of SBA servicing asset | 722 | (822) |
| Stock-based compensation expense | 2,492 | 1,335 |
| Noncash change in credit enhancement asset | (11,103) | (86) |
| Deferred income taxes | (2,329) | 179 |
| Net changes in: | ||
| Accrued interest receivable | 1,607 | 475 |
| Other assets | 2,563 | 691 |
| Accrued interest payable | 3,025 | 28 |
| Operating lease liabilities | (620) | (754) |
| Other liabilities | 839 | (1,809) |
| Net cash used in operating activities | (36,501) | (15,648) |
| Cash flows from investing activities: | ||
| Net increase in loans receivable | (142,766) | (51,070) |
| Purchase of lease pools | (27,698) | (14,967) |
| Purchase of bank premises and equipment, net | (213) | (4,830) |
| Purchase of assets subject to operating leases | (5,548) | — |
| Purchase of investment securities available-for-sale | — | (30,018) |
| Proceeds from sales of loans held-for-investment | 67,482 | — |
| Proceeds from sales of assets subject to operating leases | 468 | — |
| Proceeds from maturities of securities available-for-sale | 2,500 | — |
| Proceeds from maturities and paydowns of securities held-to-maturity | 1,960 | 2,132 |
| Purchase of FHLB stock | (90) | (111) |
| Net cash used in investing activities | (103,905) | (98,864) |
| Cash flows from financing activities: | ||
| Net increase in deposits | 137,358 | 83,826 |
| Common stock repurchased | — | (461) |
| Proceeds from exercise of stock options | 29 | 24 |
| Payment of taxes related to net share settlement of equity awards | (516) | — |
| Repayment of PPP Liquidity Facility | — | (84) |
| Net cash provided by financing activities | 136,871 | 83,305 |
| Net change in cash and cash equivalents and restricted cash | (3,535) | (31,207) |
| Cash, cash equivalents and restricted cash, beginning of the period | 109,162 | 116,975 |
| Cash, cash equivalents and restricted cash, end of the period | $105,627 | $85,768 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for income taxes, net of refunds | $3,927 | $4,400 |
| Cash paid for interest | $11,605 | $11,579 |
| Supplemental disclosures of noncash investing and financing activities: | ||
| Increase in BFG investment in exchange for shares of the Company’s common stock | $— | $4,125 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.