Business Model & Strategy - FinWise operates a differentiated business model as a banking and payments solutions provider to fintechs, emphasizing compliance and risk management[9, 10] - The company's growth strategy focuses on a broader banking and payments offering, incorporating credit enhancement, payments (MoneyRails™), and BIN sponsorship to enhance revenue diversification[21, 22] - Strategic Program Lending (SPL) diversification has improved since 1Q22, highlighting a longer-term pattern in recent years[18, 20] Financial Performance & Portfolio - As of 1Q25, 44% of FinWise's loan portfolio consists of SBA Guaranteed and Strategic Program HFS loans, which carry lower credit risk[10, 43] - Strategic Platform Loans on the balance sheet amounted to $1387 million as of March 31, 2025, with 856% held for sale (HFS) and 144% held for investment (HFI)[16] - In 1Q25, gain on sale (net) and strategic program fees accounted for $51 million, representing 657% of non-interest income[16] Risk Management & Compliance - FinWise has a strong compliance and risk management culture, with 37% (72 out of 196) of its FTEs dedicated to IT, Compliance, Risk Management, and BSA functions as of 1Q25[11, 13] - The company maintains a well-reserved position with an ACL/Total Gross Loans HFI of 29% as of the end of 1Q25, reflecting a lower-risk portfolio[40] Capital & Efficiency - FinWise remains well-capitalized, significantly above the regulatory requirement of 9% under the Community Bank Leverage Ratio framework[10, 83] - The efficiency ratio for 1Q25 was 648%, compared to 610% in 1Q24 and 642% in 4Q24[50, 86]