FinWise Bancorp Authorizes 685,000-Share Buyback Representing 5% of Outstanding Shares
FinWise Bancorp’s board authorized a stock repurchase program for up to 685,000 shares, approximately 5% of outstanding common stock, expiring May 31, 2028. The bank ended Q1 with a 16.8% leverage ratio—nearly double regulatory threshold—and a $14.34 tangible book value per share, underscoring strong capital flexibility.
1. Authorization of Repurchase Program
FinWise Bancorp’s board has approved a share repurchase plan allowing the company to buy up to 685,000 common shares, representing roughly 5% of its issued and outstanding stock. This authorization grants the company discretion over timing and method of purchases through May 31, 2028.
2. Capital Position and Financial Metrics
At the end of the first quarter, FinWise reported a Bank Leverage Ratio of 16.8%, nearly double the well-capitalized benchmark, and a tangible book value of $14.34 per share. Management highlighted multiple growth engines across lending, payments and sponsorship services as drivers of long-term shareholder value.
3. Repurchase Execution and Conditions
Repurchases may occur in the open market, through privately negotiated transactions or under a Rule 10b5-1 trading plan, subject to regulatory and market conditions. The program is unfunded by specific commitments and will be financed using available cash balances, with the company retaining the right to suspend or terminate purchases at any time.