FinWise Bancorp(US:FINW)2025-10-29 20:00Company Overview - FinWise is a banking and payments solutions provider to fintechs, emphasizing compliance and risk management[11] - The company has a resilient and profitable business model with compelling growth opportunities[11] - A significant portion of FinWise's workforce, 36% or 69 out of 194 FTEs, is dedicated to IT, Compliance, Risk Management, and BSA functions as of 3Q25[13] Strategic Program Lending (SPL) - Strategic Program Lending (SPL) contributed 48.1% of 3Q25 gross revenue[15] - As of September 30, 2025, Strategic Platform Loans on the balance sheet totaled $219.7 million, with 71.3% held-for-sale (HFS) and 28.7% held-for-investment (HFI)[15] - Strategic Program Fees generated $6.4 million, representing 35.7% of non-interest income in 3Q25[15] Loan Portfolio - As of 3Q25, 40% of the loan portfolio is SBA Guaranteed and Strategic Program HFS[11] - SBA Loans on the balance sheet amounted to $240.1 million as of September 30, 2025, with 55.1% guaranteed and 44.9% unguaranteed[15] - Combined SBA Guaranteed and Strategic Program Loans Held-for-Sale (HFS) increased to 39.9% of the portfolio as of 3Q25[50] Financial Performance - Total deposits reached $682.3 million as of September 30, 2025[51] - The company's efficiency ratio was 47.6% in 3Q25, or 59.7% on a core basis when adjusted for credit enhancement related accounting[79] - Tangible book value per share was $13.84 as of September 30, 2025[87]