The bank's capital adequacy is under pressure as the equity-to-assets ratio declined from 0.26 in 2023Q4 to 0.22 in 2026Q1, reflecting the capital intensity of its rapid asset expansion strategy.
| Cash & Short Term Investments | 393.05M | 163.4M | 106.06M | 116.97M | 100.57M | 85.75M | 47.38M | 34.78M |
| Cash & Due from Banks | 6.29M | 163.4M | 106.06M | 116.97M | 100.57M | 85.75M | 47.38M | 34.78M |
| Short Term Investments | 27.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 27.63M | 618.28M | 476.95M | 387.55M | 257.65M | 276.25M | 258.6M | 134.75M |
| Investments Growth % | -8.2% | 29.63% | 23.07% | 50.42% | -6.74% | 6.83% | 91.92% | - |
| Long-Term Investments | 1.8B | 618.28M | 476.95M | 387.55M | 257.65M | 276.25M | 258.6M | 134.75M |
| Accounts Receivables | 0 | 3.71M | 3.57M | 3.57M | 1.82M | 1.55M | 1.63M | 943K |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 18.08M | 19.89M | 18.92M | 14.52M | 3.29M | 1.26M | 926K |
| Other Assets | 0 | 171.32M | 60.49M | 18.69M | 15.81M | 11.55M | 8.19M | 5.53M |
| Total Current Assets | 33.92M | 167.11M | 188.65M | 161.06M | 111.64M | 87.3M | 49.01M | 35.72M |
| Total Non-Current Assets | 0 | 810.03M | 557.33M | 425.16M | 289.14M | 292.91M | 268.5M | 141.34M |
| Total Assets | 899.44M | 977.13M | 745.98M | 586.22M | 400.78M | 380.21M | 317.51M | 177.06M |
| Asset Growth % | 110.96% | 30.99% | 27.25% | 46.27% | 5.41% | 19.75% | 79.32% | - |
| Return on Assets (ROA) | 1.73% | 1.87% | 1.91% | 3.54% | 6.43% | 9.05% | 4.53% | 5.46% |
| Accounts Payable | 0 | 2.63M | 1.49M | 619K | 54K | 48K | 195K | 64K |
| Total Debt | 0 | 4.41M | 5.37M | 6.49M | 7.33M | 1.05M | 101.01M | 0 |
| Net Debt | -6.29M | -158.99M | -100.7M | -110.49M | -93.23M | -84.7M | 53.62M | -34.78M |
| Long-Term Debt | 0 | 0 | 64K | 190K | 314K | 1.05M | 101.01M | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 702.83M | 21.5M | 19.55M | 16.61M | 9.94M | 11.55M | 5.26M | 1.71M |
| Total Current Liabilities | 0 | 758.03M | 546.45M | 407.32M | 243.05M | 252.17M | 165.38M | 142.25M |
| Total Non-Current Liabilities | 702.83M | 25.91M | 25.81M | 23.84M | 17.27M | 12.6M | 106.26M | 1.71M |
| Total Liabilities | 702.83M | 783.94M | 572.26M | 431.17M | 260.32M | 264.77M | 271.64M | 143.97M |
| Total Equity | 196.61M | 193.19M | 173.72M | 155.06M | 140.46M | 115.44M | 45.87M | 33.09M |
| Equity Growth % | 42.02% | 11.21% | 12.04% | 10.39% | 21.67% | 151.66% | 38.61% | - |
| Equity / Assets (Capital Ratio) | 21.86% | 19.77% | 23.29% | 26.45% | 35.05% | 30.36% | 14.45% | 18.69% |
| Return on Equity (ROE) | 8.24% | 8.77% | 7.75% | 11.82% | 19.63% | 39.16% | 28.36% | 29.19% |
| Book Value per Share | 14.41 | 14.24 | 13.13 | 12.01 | 10.52 | 12.67 | 3.85 | 2.70 |
| Tangible BV per Share | 14.41 | 14.24 | 13.13 | 12.01 | 10.52 | 12.67 | 3.85 | 2.70 |
| Common Stock | 14K | 14K | 13K | 12K | 13K | 13K | 9K | 9K |
| Additional Paid-in Capital | 0 | 60.96M | 56.93M | 51.2M | 54.61M | 54.84M | 16.85M | 15.27M |
| Retained Earnings | 134.85M | 132.2M | 116.59M | 103.84M | 85.83M | 60.59M | 29.01M | 17.81M |
| Accumulated OCI | 44K | 26K | 187K | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Fintech partner credit concentration
As reported in recent financial statements, FinWise Bancorp grew total assets from $586.2 million in 2023Q4 to $899.4 million by 2026Q1, reflecting an aggressive expansion strategy that prioritizes rapid scaling of fintech-originated loan volumes over the accumulation of traditional, long-term interest-earning investment securities.
The trajectory of the balance sheet suggests a deliberate pivot toward a high-velocity, fee-based model rather than a traditional hold-to-maturity banking strategy. Investors should monitor whether this rapid asset growth is sustainable without compromising the underlying credit quality of the fintech-originated portfolios.
Based on quarterly data, the equity-to-assets ratio declined from 0.26 in 2023Q4 to 0.22 in 2026Q1, indicating that while the bank is maintaining a solid capital base, the pace of asset expansion is naturally consuming the capital buffer built through retained earnings.
The current capital position appears adequate to support ongoing operations, yet the downward trend in the equity-to-assets ratio warrants close observation. If the bank continues to scale at this rate, management may eventually face a trade-off between maintaining regulatory capital ratios and pursuing further growth opportunities.
According to recent filings, cash and equivalents fluctuated significantly, peaking at $163.4 million in 2025Q4 before dropping to $6.3 million in 2026Q1, which highlights the bank's reliance on liquidity to facilitate high-volume loan originations and secondary market sales rather than maintaining a static cash reserve.
This volatility in cash balances suggests that the bank's liquidity is highly sensitive to the timing of loan sales and partnership activity. The lack of a substantial, stable investment securities portfolio implies that the bank lacks a secondary liquidity cushion, making it potentially vulnerable to sudden market disruptions.
As indicated by the 2026Q1 data, the complete transition to non-interest income as the sole revenue source represents a significant departure from historical norms, suggesting that the bank's balance sheet is now almost entirely exposed to the operational and regulatory risks of its fintech partners.
This shift implies that the bank's financial health is no longer tied to traditional interest rate spreads but rather to the transactional volume and credit performance of third-party originators. Investors should consider that this model may be highly pro-cyclical and susceptible to sudden revenue evaporation if partner programs face regulatory or credit-related headwinds.
Quick answers to the most common questions about buying FINW stock.
As of 2025, FinWise Bancorp (FINW) had total assets of $977.1M including $167.1M in current assets.
FinWise Bancorp (FINW) carries total debt of $4.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
FinWise Bancorp (FINW) has total shareholders' equity (book value) of $193.2M ($14.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
FinWise Bancorp (FINW) reported a current ratio of 0.22x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.