MURRAY, Utah, June 10, 2024 — FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced that in its June 9, 2024 article, American Banker ranked FinWise Bancorp #2 on its list of the 100 top-performing publicly traded banks with under $2 billion of assets.
The ranking is based on the three-year return on average equity (“ROAE”) as of December 31, 2023. The three-year ROAE for Finwise Bancorp totaled 27%, well above the peer median of 10.91%.
“We are honored to be recognized as one of the best performing banks by American Banker,” said Kent Landvatter, CEO of FinWise. “This accomplishment is a testament to the unwavering dedication of the entire FinWise team. I’m proud of the results we have achieved in 2023, while making meaningful progress on our key new initiatives. I want to thank our team members for their continued commitment to FinWise.”
About FinWise Bancorp
FinWise provides comprehensive Banking and Payments solutions to fintech brands. 2024 is a key expansion year for the Company, as it expands and diversifies its business model by launching and incorporating Payments Hub and BIN Sponsorship offerings into its current platforms. Its existing Strategic Program Lending business, done through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied RE, and Leasing, which provide flexibility for disciplined balance sheet growth. Through its compliance oversight and risk management-first culture, the Company is also well positioned to guide fintechs through a rigorous process to ensure regulatory compliance.
For more information on FinWise Bank, visit https://investors.finwisebancorp.com.