MURRAY, Utah, Nov. 12, 2026 (GLOBE NEWSWIRE) -- FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced that its Board of Directors has authorized an additional 600,000 shares of the Company’s common stock that may be repurchased pursuant to its repurchase program. The program was originally approved by the Board on May 19, 2026, to purchase up to 685,000 shares, or approximately 5% of issued and outstanding shares. As of November 11, 2026, approximately 415,000 shares remained available under the existing authorization. Since the program’s inception, the Company has repurchased 270,000 shares of the Company’s common stock for an aggregate purchase price of $3.7 million. The 600,000 additional shares authorized for the program represent approximately 4.4% of the Company’s outstanding shares of common stock. The repurchases will be made at the Company’s discretion with an expiration of May 31, 2028.
“The Board’s authorization of additional shares for our share repurchase program reflects our strong capital position and confidence in the long-term trajectory of the business,” said Jim Noone, CEO of FinWise Bancorp. “We ended the third quarter with a Bank Leverage Ratio of 18.1%, more than double the well-capitalized threshold, and tangible book value of $15.14 per share.”
Under the repurchase program, the Company may, from time to time and on or before the program's expiration date, repurchase shares of its outstanding common stock in the open market, in privately negotiated transactions, or otherwise, subject to applicable laws and regulations. The extent to which the Company repurchases its shares, and the means and timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements, availability of funds, and other relevant considerations, as determined by the Company. The repurchase program does not obligate the Company to purchase any particular number of shares. The Company may, in its discretion, begin, suspend, limit or terminate repurchases at any time prior to the program's expiration, without any prior notice. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The Company expects to fund repurchases under the program with its available cash balances.
About FinWise
FinWise provides Banking and Payments solutions to fintech brands. Its existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands.
As part of Strategic Program Lending, FinWise also provides a Credit Enhanced Balance Sheet Program, which addresses the challenges that lending and card programs face diversifying their funding sources and managing capital efficiency.
In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. The Company is also expanding and diversifying its business model by incorporating Payments (MoneyRails™) and BIN Sponsorship offerings.
Through its compliance oversight and risk management-first culture, the Company is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance.
Contacts
investors@finwisebank.com
media@finwisebank.com
