Written Offer After Superday?

First time posting and long time lurker. I know there’s a few posts around this topic but wanted to share my current situation as it’s a little different and I’m genuinely confused.

Had a final round interview at a bank (think big 5 Canada / larger boutique in the US) for a lateral Analyst role about a week ago. MD called the morning after superday and we talked comp, available start date etc… they mentioned they’re sorting through the details and will get back to me. Didn’t hear back for a week so I followed up and MD called directly again, saying they’re just getting things processed internally and hope to get back to me sooner rather than later, given the slower back-end process at a large bank.

What I am confused about is that there was no formal verbal offer, but the MD has been quite responsive and calling me directly to keep me in the loop. If I don’t hear back on the two week mark I’ll likely follow up one last time.

It’d be great to get all of your thoughts on this situation? I would think an offer is in the works but don’t want to make any assumptions.

Thanks all!