FinWise Bancorp Announces Appointment of Simon Darchis as Vice President, Head of Specialty Lending

FinWise Bank

MURRAY, Utah, June 22, 2022 (GLOBE NEWSWIRE) — FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), the parent company of FinWise Bank, today announced the appointment of Simon Darchis as Vice-President, Director of Specialized Lending. Mr. Darchis will replace David Tilis with immediate effect. Mr. Tilis has decided to leave the Company, but has agreed to stay on as a consultant for a period of one year to facilitate a smooth transition.

Mr. Darchis has been with FinWise for over four years and has been instrumental in building and managing the company’s strategic lending program.

“Simon has worked closely with David and is a strong operator and experienced business leader which, combined with our deep specialist finance team in place, positions us for a smooth transition,” said Kent Landvatter, Director general.

“David is an integral part of our team and we thank him for his efforts,” continued Mr. Landvatter. “We have deep appreciation and high regard for his guidance and leadership over the past six years and wish him the best in his future endeavours.”

About FinWise Bancorp

FinWise Bancorp is a Utah bank holding company headquartered in Murray, Utah. FinWise operates through its wholly owned subsidiary, FinWise Bank, a non-member chartered bank in the state of Utah. FinWise currently operates a full-service banking site in Sandy, Utah and a loan origination office in Rockville Center, New York. FinWise is a national lender and accepts consumer and small business deposits. Learn more about www.finwisebank.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views regarding, among other things, future events and its financial performance. These statements are often, but not always, made using words or phrases such as “may”, “could”, “should”, “could”, “predict”, “potential”, “believe”, “probably will”. result”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “project”, “projection”, “expect”, “budget”, “goal”, “target”, “would”, “aim” and “outlook” or the negative version of these words or other comparable words or expressions of a future or forward-looking nature. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the company’s industry and management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the company’s control. . The inclusion of these forward-looking statements should not be taken as a representation by the Company or any other person that such expectations, estimates and projections will be realized. Accordingly, the Company cautions you that these forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date they are made, actual results may differ materially from the results expressed or implied by the forward-looking statements.

There are or will be important factors that could cause the actual results of the Company to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: (a) the dependence of the Company vis-à-vis its management team and changes in the composition of management; (b) the effects of the performance of the Company’s employees and consultants on the Company’s business, prospects, results of operations and condition; (c) the Company’s ability to maintain and develop its relationships with its Strategic Program service providers; (d) the Company’s ability to attract additional merchants and to retain and grow its existing business relationships; and (e) other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the fiscal year ended. December 31, 2021 and subsequent reports on Form 10-Q and Form 8-K.

The foregoing factors should not be construed as exhaustive. Should one or more events related to these or other risks or uncertainties materialize, or should the Company’s underlying assumptions prove incorrect, actual results may differ materially from its forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. . New risks and uncertainties may arise from time to time, and it is not possible for the Company to predict their occurrence. Furthermore, the Company cannot assess the impact of each risk and uncertainty on its business or the extent to which any one risk or uncertainty, or a combination of risks and uncertainties, may cause actual results to differ materially. of those contained in the forward-looking statements. .

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