IPO - Profile

FinWise Bancorp

Finance > Banks

FINW

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$10.50 3,500,000 Positive High 44.61%

Offering Team

  • Legal counsel
  • Kramer Levin Naftalis & Frankel LLP
  • Auditors
  • Moss Adams LLP

Deal Highlights

We are FinWise Bancorp, a Utah bank holding company headquartered in Murray, Utah. We operate through our wholly-owned subsidiary, FinWise Bank, a Utah state-chartered non-member bank. We currently operate one full-service banking location in Sandy, Utah and a loan production office in Rockville Centre, New York. We are a nationwide lender to consumers and small businesses. We believe that traditional barriers to servicing banking customers have been substantially lowered due to technological advances in the distribution and management of banking products and services. We seek to capitalize on these advances by leveraging strategic relationships, as well as proprietary loan origination systems and data analytics technology, to expand our reach in marketing channels utilized and credit products offered. We believe four of our distinguishing characteristics are: • our strategic relationships with third party loan origination platforms, many of whom use technology to facilitate loan origination, that allow us to capture a high volume of diverse loan origination and loan performance data from the billions of dollars of loans that we have originated, sold or held in four main lending areas; • our FinView™ Analytics Platform, including our enterprise data warehouse, which is a proprietary technology developed by us to enhance our ability to gather and interpret performance data for the loans originated by us and to help us identify attractive risk-adjusted market sectors; • our core deposits which, as of March 31, 2021 and December 31, 2020, constitute 91.1% and 91.5% of our funding sources (excluding the PPPLF), respectively and have been highly reliable and relatively low cost (our core deposits comprise the sum of demand deposits, NOW accounts, MMDA accounts, savings accounts, and time deposits under $250,000 that are not brokered deposits); and • our seasoned management team, which has considerable banking experience, particularly in our core lines of business.

Deal Tracker

IPO Dates

Filing 18 Nov, 2021

Offer 19 Nov, 2021

Look Ahead

Lock Up Expiry May 19, 2022

IPO Terms

Offer Price $10.50
Offer Size 3M

Market Sentiments

Stock Price