---
schema_version: "secwatch.filing_event.v1"
accession: "0001856365-24-000003"
form_type: "8-K"
ticker: "FINW"
cik: "0001856365"
company_name: "Finwise Bancorp"
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T16:06:14.870074+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# FinWise Q4 net income $4.2M, EPS $0.32; NPLs surge to $27.1M; acquires additional 10% of BFG

## Summary
- Q4 2023 net income $4.2M, diluted EPS $0.32 vs $0.37 Q3 and $0.49 a year ago.
- Non-performing loans rose to $27.1M (7.3% of loans) from $10.7M; $15M SBA-guaranteed.
- Net charge-offs $3.4M in Q4 vs $2.2M prior quarter; provision for credit losses $3.3M.
- Acquiring additional 10% nonvoting interest in BFG for 339,176 shares; total ownership to 20%.
- Efficiency ratio worsened to 55.8% from 51.3% prior quarter; ROAE 10.8% vs 12.8%.

## SEC filing metadata
- accession: 0001856365-24-000003
- form_type: 8-K
- ticker: FINW
- cik: 0001856365
- company_name: Finwise Bancorp
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/0001856365-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/finw-20240126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001856365-24-000003
- JSON: https://secwatch.observer/filing/0001856365-24-000003.json
- Plain text: https://secwatch.observer/filing/0001856365-24-000003.txt

## Key facts
- Earnings Releases
  Finwise Bancorp reported the quarter ended December 31, 2023 results: net income $4.2 million, EPS $0.32.
  - Period: the quarter ended December 31, 2023
  - Net income: $4.2 million
  - EPS: $0.32
  - Result: reported results
  source text: FinWise Bancorp (the “Company”), dated January 29, 2024, reporting the Company’s financial results for the fiscal quarter ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/0001856365-24-000003-index.htm
- Material Agreements
  Finwise Bancorp amended Amendment to the Purchase Agreement with Business Funding Group, LLC and four members of BFG (effective 2024-01-26).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Business Funding Group, LLC and four members of BFG
  - Effective: 2024-01-26
  source text: On January 26, 2024, the Company and the Sellers entered into an Amendment to the Purchase Agreement (the “Amendment”) pursuant to which: a. The Company will acquire an additional 10% nonvoting ownership interest in BFG (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856365/000185636524000003/0001856365-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.