NewtekOne, Inc. Reports 3Q25 and Year-to-Date 2025 Basic and Diluted EPS of $0.68 and $0.67 and $1.57 and $1.54
NewtekOne (Nasdaq: NEWT) reported 3Q25 basic and diluted EPS of $0.68 and $0.67, versus $0.45 a year earlier, and YTD25 basic and diluted EPS of $1.57 and $1.54, reflecting Y/Y EPS increases of ~51%/49% (3Q) and 25%/22% (YTD).
Total revenue was $74.9M in 3Q25 (+19.3% Y/Y) and $211.5M YTD25 (+16.0% Y/Y). PPNR rose to ~$32.8M in 3Q25 (+36.7% Y/Y). 3Q25 ROAA was 3.06% and ROTCE 23.7%. Book value per share was $11.72 and tangible book value $11.22.
Capital moves: raised $30M CET1 via Patriot transaction and issued $50M depositary shares (Series B preferred equivalent), plus a $95M financing for the payments business. ALP expects a fourth securitization in Q4 2025.
NewtekOne (Nasdaq: NEWT) ha riportato un 3Q25 basic ed diluted EPS di $0.68 e $0.67, rispetto a $0.45 dell'anno precedente, e YTD25 basic e diluted EPS di $1.57 e $1.54, con incrementi annui di circa 51%/49% (3Q) e 25%/22% (YTD).
Revenues totali sono stati $74.9M nel 3Q25 (+19.3% a/a) e $211.5M YTD25 (+16.0% a/a). PPNR è salito a circa $32.8M nel 3Q25 (+36.7% a/a). Il ROAA del 3Q25 è stato 3.06% e ROTCE 23.7%. Il book value per azione era $11.72 e il tangible book value $11.22.
Movimenti di capitale: ha aumentato $30M CET1 tramite la transazione Patriot e ha emesso $50M depositary shares (equivalente a una azione preferenziale Serie B), oltre a un finanziamento di $95M per il settore pagamenti. ALP si aspetta una quarta securitization nel quarto trimestre del 2025.
NewtekOne (Nasdaq: NEWT) reportó un BPA básico y diluido de 3T25 de $0.68 y $0.67, frente a $0.45 hace un año, y BPA YTD25 básico y diluido de $1.57 y $1.54, reflejando aumentos interanuales de ~51%/49% (3Q) y 25%/22% (YTD).
Los ingresos totales fueron $74.9M en 3T25 (+19.3% interanual) y $211.5M YTD25 (+16.0% interanual). PPNR subió a ~$32.8M en 3T25 (+36.7% interanual). El ROAA de 3Q25 fue 3.06% y ROTCE 23.7%. El valor contable por acción fue $11.72 y el valor contable tangible $11.22.
Movimientos de capital: se elevó $30M CET1 mediante la transacción Patriot y se emitieron $50M depositary shares (equivalente a preferente Series B), además de un financiamiento de $95M para el negocio de pagos. ALP espera una cuarta titulización en el Q4 2025.
NewtekOne (나스닥: NEWT)은 3Q25 기본 및 희석 EPS를 $0.68 및 $0.67로 보고했고, 1년 전의 $0.45에 비해 증가했으며, YTD25 기본 및 희석 EPS를 $1.57 및 $1.54로 발표했습니다. 이는 3Q 기준 연간 약 51%/49% 증가, YTD 기준 25%/22% 증가를 반영합니다.
총 수익은 3Q25에서 $74.9M(+전년동기 대비 19.3%)이었고 YTD25는 $211.5M(+전년동기 대비 16.0%)였습니다. PPNR은 3Q25에서 약 $32.8M으로 올랐습니다(+전년동기 대비 36.7%). 3Q25 ROAA는 3.06%, ROTCE는 23.7%였습니다. 주당 순자산가치는 $11.72, 유형적 주당가치는 $11.22였습니다.
자본 움직임: Patriot 거래를 통해 CET1을 $30M 증가시켰고, $50M 델리게이트 주(시리즈 B 우선주에 상응) 발행 및 결제 비즈니스에 대한 $95M의 자금 조달이 있었습니다. ALP는 2025년 4분기에 네 번째 증권화 를 기대합니다.
NewtekOne (Nasdaq: NEWT) a publié un BPA de base et dilué 3Q25 de $0.68 et $0.67, contre $0.45 il y a un an, et un BPAYTD25 de base et dilué de $1.57 et $1.54, reflétant des hausses annuelles d'environ ~51%/49% (3Q) et 25%/22% (YTD).
Revenu total s'élevait à $74.9M au 3Q25 (+19.3% annualisé) et $211.5M YTD25 (+16.0% annualisé). PPNR a augmenté à environ $32.8M au 3Q25 (+36.7% annuel). Le ROAA du 3Q25 était 3.06% et le ROTCE 23.7%. La valeur comptable par action était $11.72 et la valeur comptable tangible $11.22.
Mouvements de capitaux: augmentation du CET1 de $30M via la transaction Patriot et émission de $50M de Depositary Shares (équivalentes à des actions privilégiées de série B), ainsi qu'un financement de $95M pour l'activité de paiements. ALP prévoit une quatrième titrisation au Q4 2025.
NewtekOne (Nasdaq: NEWT) meldete für das 3Q25 eine Basis- und verwässerte EPS von $0.68 bzw. $0.67, verglichen mit $0.45 vor einem Jahr, und YTD25 Basis- und verwässerte EPS von $1.57 bzw. $1.54, was YoY-EPS-Steigerungen von ca. 51%/49% (3Q) und 25%/22% (YTD) widerspiegelt.
Gesamtumsatz betrug im 3Q25 $74.9M (+19.3% YoY) und $211.5M YTD25 (+16.0% YoY). PPNR stieg im 3Q25 auf ca. $32.8M (+36.7% YoY). Die ROAA im 3Q25 betrug 3.06% und ROTCE 23.7%. Der Buchwert pro Aktie betrug $11.72 und der tangible book value $11.22.
Kapitalbewegungen: Erhöhung von $30M CET1 durch die Patriot-Transaktion und Ausgabe von $50M Depositary Shares (entsprechend einer Series-B-Pref) sowie eine Finanzierung von $95M für das Zahlungsverkehrsgeschäft. ALP erwartet im Q4 2025 eine vierte Verbriefung.
NewtekOne (ناسداك: NEWT) أبلغت عن ربحية السهم الأساسية والمخففة لـ 3Q25 بقيمة $0.68 و $0.67، مقارنة بـ $0.45 قبل عام واحد، وعلى أساس YTD25 للربح الأساسي والمخفف للسهم بقيمة $1.57 و $1.54، مع زيادة ربحية السهم التالية سنويًا بنحو ~51%/49% (3Q) و 25%/22% (YTD).
إجمالي الإيرادات كان $74.9M في 3Q25 (+19.3% على أساس سنوي) و $211.5M YTD25 (+16.0% على أساس سنوي). ارتفع PPNR إلى نحو $32.8M في 3Q25 (+36.7% سنويًا). كان ROAA في 3Q25 3.06% و ROTCE 23.7%. قيمة الدفتر للسهم كانت $11.72 وقيمة دفترية فعالة $11.22.
حركات رأس المال: رفع $30M CET1 عبر صفقة Patriot وصدر $50M أسهم وِفَاقية (معادلة لأسهم الممتازة من النوع B)، بالإضافة إلى تمويل قدره $95M لأنشطة المدفوعات. ALP تتوقع رهنًا رنْدَةً رابعة في الربع الرابع 2025.
NewtekOne (纳斯达克：NEWT) 报告 3Q25 基本和摊薄每股收益分别为 $0.68 和 $0.67，相比一年前的 $0.45，以及 YTD25 基本和摊薄每股收益分别为 $1.57 和 $1.54，反映出同比 EPS 增长约为 51%/49%（3Q）和 25%/22%（YTD）。
总收入 在 3Q25 为 $74.9M（同比 +19.3%），YTD25 为 $211.5M（同比 +16.0%）。PPNR 在 3Q25 上升至约 $32.8M（同比 +36.7%）。3Q25 的 ROAA 为 3.06%，ROTCE 为 23.7%。每股账面价值为 $11.72，有形账面价值为 $11.22。
资本动向：通过 Patriot 交易将 CET1 提升了 $30M，并发行了 $50M 托管证券（相当于 Series B 优先股），以及用于支付业务的 $95M 融资。ALP 预计在 2025 年第四季度进行第四次证券化。
- 3Q25 diluted EPS +49% Y/Y to $0.67
- YTD25 diluted EPS +22% Y/Y to $1.54
- 3Q25 total revenue +19.3% Y/Y to $74.9M
- PPNR 3Q25 +36.7% Y/Y to $32.8M
- Loans and deposits increased ~58% and 81% Y/Y
- Raised $30M CET1 and layered $80M Tier 1 capital
- SBA 7(a) originations down ~23% Y/Y (from $243M to $187M)
- Issued Series B depositary shares that carry ongoing dividend obligations (initial dividend paid Oct 1, 2025)
Insights
Strong quarter: EPS, revenue, liquidity, and capital all rose; operating efficiency and returns improved materially.
For 3Q25 NewtekOne reported basic EPS of
The firm strengthened capital and funding in the quarter. It raised
Year-over-Year Quarterly and Year-to-Date Diluted EPS Growth Approximate
BOCA RATON, Fla., Oct. 29, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (Nasdaq: NEWT) reports its financial and operating results for the three and nine month periods ended September 30, 2025.
Financial Highlights for the three and nine months ended September 30, 2025:
- For the three months ended September 30, 2025 ("3Q25"), basic and diluted earnings per share ("EPS") were
$0.68 and$0.67 , respectively, vs.$0.45 and$0.45 , respectively, for the three months ended September 30, 2024 ("3Q24"), reflecting Y/Y increases of51% and49% , respectively. - For the nine months ended September 30, 2025 ("YTD25"), basic and diluted EPS were
$1.57 and$1.54 , respectively, vs.$1.26 and$1.26 , respectively, for the nine months ended September 30, 2024 ("YTD24"), reflecting Y/Y increases of25% and22% , respectively. - Book value per common share ended 3Q25 at
$11.72 , up Y/Y and Q/Q by16.4% and5.5% , respectively. - Tangible book value per common share1 ended 3Q25 at
$11.22 , up Y/Y and Q/Q by25.6% and6.4% , respectively. - Total revenue, defined as the sum of net interest income and noninterest income, was
$74.9 million for 3Q25, up19.3% over$62.8 million for 3Q24. Total revenue was$211.5 million for YTD25, up16.0% over$182.3 million for YTD24. - Net income before taxes for 3Q25 was approximately
$25.1 million , up47.0% Y/Y from$17.1 million for 3Q24. Net income before taxes for YTD25 was approximately$55.5 million , up23.5% from$44.9 million for YTD24. - Pre-provision net revenue ("PPNR")1,2 for 3Q25 was approximately
$32.8 million , an increase of36.7% from$24.0 million for 3Q24. PPNR for YTD25 was approximately$85.8 million , an increase of39.1% from$61.7 million for YTD24. - The efficiency ratio1 was
56.3% for 3Q25, an improvement from61.8% for 3Q24. - Return on average assets (“ROAA”)1 was
3.06% for 3Q25. - Return on average equity ("ROAE")1 was
20.4% for 3Q25. - Return on average tangible common equity (“ROTCE”)1 was
23.7% for 3Q25. - Pre-provision return on average assets ("PPROA")1 was
5.75% for 3Q25.
_______________
1 Non-GAAP financial measure; see "Reconciliation of GAAP to Non-GAAP Financial Measures" below for a reconciliation and additional information on non-GAAP measures.
2 PPNR is a non-GAAP metric calculated based on total net revenue less non-interest expense before adjusting for the provision for credit losses for the period. Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses.
Selected Balance Sheet and Other Highlights for 3Q25
- Raised
$30 million of Common Equity Tier 1 (CET1) capital in a transaction with Patriot Financial Partners, L.P. ("Patriot") pursuant to which Patriot exchanged$20 million of our Series A Convertible Preferred Stock for our common shares and purchased an additional$10 million of our common shares for cash. - Increased Tier 1 capital by issuing
$50 million of depositary shares, each representing a 1/40th interest in a share of the Company's8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred"), with a liquidation preference of$1,000 per share (equivalent to$25.00 per Depositary Share). - Refinanced and upsized Newtek Merchant Solutions' borrowing facility with a new
$95 million financing solution through Goldman Sachs Alternatives. - Originated
$104 million of Alternative Loan Program (“ALP”) loans compared to$66 million for 3Q24. - Originated
$187 million of SBA 7(a) loans compared to 3Q24 originations of$243 million . In addition, the Company sold$69 million of guaranteed portions of SBA 7(a) loans in 3Q25. - Originated
$28 million of SBA 504 loans. In addition, the Company sold$19 million of SBA 504 loans in 3Q25. - Originated
$17.8 million and$19.3 million of CRE and C&I loans HFI. - Commercial deposits at Newtek Bank increased
$52.0 million , or17% Q/Q, while core consumer deposits grew$95.0 million , or12% Q/Q; and wholesale deposits decreased$8 million Q/Q. - Insured deposits comprised
78% of deposits.
Post 3Q25 Highlights
- On October 1, 2025, the Company paid a dividend on the Company’s outstanding Series B Preferred in the amount of
$9.44 per Preferred Share, or$0.23 61 per depositary share, which is equivalent to 1/40th of the dividend on the Preferred Shares. This initial dividend payment on the Series B Preferred was pro-rated for the initial dividend period from the date of the issuance of the Series B Preferred on August 20, 2025. - On October 24, 2025, the Company paid a quarterly cash dividend of
$0.19 per share on its outstanding common shares.
Commenting on quarterly results, Barry Sloane, CEO, President, and Chairman said, "We are pleased to report basic and diluted EPS of
Mr. Sloane continued, "On the capital front, we were tremendously successful in the third quarter, raising
Mr. Sloane then went on to discuss NewtekOne's evolution, "NewtekOne’s purpose and mission, which is to provide business and financial solutions to independent business owners in the United States, has not changed since the Company’s inception in 1998. We enhanced our ability to deliver on that mission when we acquired what is now known as Newtek Bank roughly ten quarters ago in January of 2023, converting from a business development company to a financial holding company owning and operating a nationally chartered bank. With our technology enabled platform, we believe that NewtekOne looks different than the vast majority of our competitors. We are proud of having expanded our business by offering our business and financial solutions to our customers. What is most important to us is improving our customers’ business prospects, enhancing their business opportunities, and helping them achieve their business goals."
Mr. Sloane added, "We believe we have created meaningful franchise value in transforming a single-branch sixty year old bank in Flushing, New York, with an antiquated operating model into a branchless, bankerless digital bank. Financial institutions of the future that make loans and provide depository solutions and money movement capabilities to independent business owners will need to do so with state-of-the-art technologies and artificial intelligence and without the use of costly bankers and branches. We believe that NewtekOne is well on its way and ahead of the industry in looking like a financial institution of the future. We have opened up more than 21,000 bank accounts digitally and serve our customers on demand and on camera with payroll, real-time payment, insurance brokerage, and lending solutions to help them grow their businesses. We have consistently ranked as one of the top three SBA lenders in the United States and currently service over 10,000 borrowers."
Mr. Sloane further added, "As we approach the end of 2025, I would like to highlight that our Alternative Lending Program, or ALP, that has completed three securitizations since the ALP was launched in 2019, is preparing a fourth securitization for the fourth quarter of 2025, which we expect to be our largest securitization to date. Investors have heard us discuss how ALP loans are extremely attractive to our client base, very profitable for our shareholders, and additive to our business strategy."
Mr. Sloane concluded, "For investors with a long-term view to owning a company with a winning strategy to help its client base, we believe that NewtekOne has demonstrated, in a relatively short period of time, the ability to raise deposits, make loans digitally, and to provide value-added payroll, insurance, and real-time payment solutions to its clients. We have spent the past two-plus decades developing our strategy and product offerings and believe financial institutions should be providing the helpful and necessary technologies like we offer to the independent business owner universe in the United States. According to the Small Business Administration, this market segment represents
Third Quarter 2025 Conference Call and Webcast
A conference call to discuss the third quarter 2025 financial and operating results will be hosted by Barry Sloane, Chief Executive Officer, President and Chairman, and Frank M. DeMaria, Chief Financial Officer, today, Wednesday, October 29, 2025, at 4:30 p.m. ET.
Please note, to attend the conference call or webcast, participants should register online at NewtekOne, Inc. Third Quarter 2025 Financial Results Conference Call. To receive a dial-in number, participants are requested to register at a minimum 15 minutes before the start of the call. The corresponding presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of NewtekOne's website at NewtekOne, Inc. Third Quarter 2025 Financial Results Conference Call. A replay of the call with the corresponding presentation will be available on NewtekOne's website shortly following the live presentation and will be available for a period of one year.
Note Regarding Dividend Payments
Amount and timing of dividends, if any, remain subject to the discretion of the Company's Board of Directors.
About NewtekOne, Inc.
NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek® brand to independent business owners. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to independent business owners across all 50 states to help them grow their sales, control their expenses, and reduce their risk.
NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Accounts Receivable Financing & Inventory Financing, Insurance Solutions and Payroll and Benefits Solutions. In addition, NewtekOne offers its clients the Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting and Web Services) provided by Intelligent Protection Management Corp. (IPM.com).
Newtek®, NewtekOne®, Newtek Bank®, National Association, Your Business Solutions Company®, One Solution for All Your Business Needs® and Newtek Advantage® are registered trademarks of NewtekOne, Inc.
Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995. Information regarding the Company’s assets under supervision, capital ratios, risk-weighted assets, supplementary leverage ratio and balance sheet data consists of preliminary estimates and are subject to change with our filings with regulatory agencies and the filing of the Company's Form 10-Q for the period ended September 30, 2025. These statements and other forward-looking statements herein are based on the current beliefs and expectations of NewtekOne's management and are subject to significant risks and uncertainties, including the duration of the current government shutdown. Actual results may differ materially from those set forth in the forward-looking statements. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in our filings with the Securities and Exchange Commission which are available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
SOURCE: NewtekOne, Inc.
Investor Relations & Public Relations
Contact: Bryce Rowe
Telephone: (212) 273-8292 / browe@newtekone.com
| NEWTEKONE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In Thousands, except for Per Share Data) | |||||||
| September 30, 2025 | December 31, 2024 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Cash and due from banks | $ | 3,980 | $ | 6,941 | |||
| Restricted cash (amounts related to VIEs of | 24,737 | 28,226 | |||||
| Interest bearing deposits in banks | 188,214 | 346,207 | |||||
| Total cash and cash equivalents | 216,931 | 381,374 | |||||
| Debt securities available-for-sale, at fair value | 18,009 | 23,916 | |||||
| Loans held for sale, at fair value | 757,001 | 372,286 | |||||
| Loans held for sale, at LCM | 28,678 | 58,803 | |||||
| Loans held for investment, at fair value (amounts related to VIEs of | 305,720 | 369,746 | |||||
| Loans held for investment, at amortized cost, net of deferred fees and costs | 834,087 | 621,651 | |||||
| Allowance for credit losses | (45,166 | ) | (30,233 | ) | |||
| Loans held for investment, at amortized cost, net | 788,921 | 591,418 | |||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 4,064 | 3,585 | |||||
| Settlement receivable | 469 | 52,465 | |||||
| Residuals in securitizations, at fair value | 76,701 | — | |||||
| Joint ventures and other non-control investments, at fair value (cost of | 51,390 | 57,678 | |||||
| Goodwill and intangibles | 14,633 | 14,752 | |||||
| Right of use assets | 2,292 | 5,688 | |||||
| Servicing assets, at fair value | 17,023 | 22,062 | |||||
| Servicing assets, at LCM | 30,540 | 24,195 | |||||
| Other assets | 86,727 | 60,636 | |||||
| Assets held for sale | — | 21,308 | |||||
| Total assets | $ | 2,399,099 | $ | 2,059,912 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
| Liabilities: | |||||||
| Deposits: | |||||||
| Noninterest-bearing | $ | 21,771 | $ | 11,142 | |||
| Interest-bearing | 1,156,193 | 961,910 | |||||
| Total deposits | 1,177,964 | 973,052 | |||||
| Borrowings (including borrowings of VIEs of | 748,549 | 708,041 | |||||
| Dividends payable | 5,387 | 5,233 | |||||
| Lease liabilities | 2,322 | 6,498 | |||||
| Deferred tax liabilities, net | 5,343 | 2,244 | |||||
| Due to participants | 35,047 | 21,532 | |||||
| Accounts payable, accrued expenses and other liabilities | 37,780 | 40,806 | |||||
| Liabilities directly associated with assets held for sale | — | 6,224 | |||||
| Total liabilities | 2,012,392 | 1,763,630 | |||||
| Shareholders' Equity: | (Unaudited) | ||||||
| Series A Preferred stock (par value | — | 19,738 | |||||
| Series B Preferred stock (par value | 48,181 | — | |||||
| Common stock (par value | 577 | 526 | |||||
| Retained earnings | 81,981 | 57,773 | |||||
| Additional paid-in capital | 255,963 | 218,266 | |||||
| Accumulated other comprehensive income (loss), net of income taxes | 5 | (21 | ) | ||||
| Total shareholders' equity | 386,707 | 296,282 | |||||
| Total liabilities and shareholders' equity | $ | 2,399,099 | $ | 2,059,912 | |||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||
| (In Thousands, except for Per Share Data) | |||||||||||
| Three Months Ended | |||||||||||
| September 30, 2025 | June 30, 2025 | September 30, 2024 | |||||||||
| (unaudited) | (unaudited) | (unaudited) | |||||||||
| Interest income | |||||||||||
| Debt securities available-for-sale | $ | 200 | $ | 214 | $ | 334 | |||||
| Loans and fees on loans | 36,376 | 33,354 | 28,588 | ||||||||
| Other interest earning assets | 2,518 | 2,950 | 2,349 | ||||||||
| Total interest income | 39,094 | 36,518 | 31,271 | ||||||||
| Interest expense | |||||||||||
| Deposits | 10,879 | 9,357 | 7,314 | ||||||||
| Notes and securitizations | 10,710 | 10,908 | 11,482 | ||||||||
| Bank and FHLB borrowings | 2,956 | 2,330 | 1,494 | ||||||||
| Total interest expense | 24,545 | 22,595 | 20,290 | ||||||||
| Net interest income | 14,549 | 13,923 | 10,981 | ||||||||
| Provision for credit losses | 7,712 | 9,117 | 6,928 | ||||||||
| Net interest income after provision for credit losses | 6,837 | 4,806 | 4,053 | ||||||||
| Noninterest income | |||||||||||
| Dividend income | 425 | 600 | 374 | ||||||||
| Net loss on loan servicing assets | (4,493 | ) | (4,355 | ) | (1,786 | ) | |||||
| Servicing income | 6,076 | 6,054 | 4,958 | ||||||||
| Net gains on sales of loans | 9,563 | 15,526 | 25,675 | ||||||||
| Net (loss) gain on residuals in securitizations | (1,450 | ) | 31,465 | — | |||||||
| Net gain (loss) on loans under the fair value option | 29,250 | (11,761 | ) | (4,085 | ) | ||||||
| Technology and IT support income | — | — | 3,311 | ||||||||
| Electronic payment processing income | 11,053 | 11,739 | 11,777 | ||||||||
| Other noninterest income | 9,964 | 7,007 | 11,627 | ||||||||
| Total noninterest income | 60,388 | 56,275 | 51,851 | ||||||||
| Noninterest expense | |||||||||||
| Salaries and employee benefits expense | 19,973 | 23,135 | 19,149 | ||||||||
| Technology services expense | — | — | 1,796 | ||||||||
| Electronic payment processing expense | 4,429 | 4,428 | 4,438 | ||||||||
| Professional services expense | 3,793 | 4,304 | 3,929 | ||||||||
| Other loan origination and maintenance expense | 6,764 | 3,287 | 4,132 | ||||||||
| Depreciation and amortization | 129 | 274 | 517 | ||||||||
| Loss on extinguishment of debt | 179 | — | — | ||||||||
| Other general and administrative costs | 6,892 | 6,881 | 4,886 | ||||||||
| Total noninterest expense | 42,159 | 42,309 | 38,847 | ||||||||
| Net income before taxes | 25,066 | 18,772 | 17,057 | ||||||||
| Income tax expense | 7,165 | 5,069 | 5,123 | ||||||||
| Net income | 17,901 | 13,703 | 11,934 | ||||||||
| Dividends to preferred shareholders | (472 | ) | (400 | ) | (400 | ) | |||||
| Net income available to common shareholders | $ | 17,429 | $ | 13,303 | $ | 11,534 | |||||
| Earnings per Common Share: | |||||||||||
| Basic | $ | 0.68 | $ | 0.53 | $ | 0.45 | |||||
| Diluted | $ | 0.67 | $ | 0.52 | $ | 0.45 | |||||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||
| (In Thousands, except for Per Share Data) | |||||||
| Nine Months Ended | |||||||
| September 30, 2025 | September 30, 2024 | ||||||
| (unaudited) | (unaudited) | ||||||
| Interest income | |||||||
| Debt securities available-for-sale | $ | 690 | $ | 1,168 | |||
| Loans and fees on loans | 104,213 | 80,346 | |||||
| Other interest earning assets | 8,599 | 6,177 | |||||
| Total interest income | 113,502 | 87,691 | |||||
| Interest expense | |||||||
| Deposits | 30,081 | 19,755 | |||||
| Notes and securitizations | 32,592 | 33,427 | |||||
| Bank and FHLB borrowings | 8,424 | 5,496 | |||||
| Total interest expense | 71,097 | 58,678 | |||||
| Net interest income | 42,405 | 29,013 | |||||
| Provision for credit losses | 30,334 | 16,742 | |||||
| Net interest income after provision for credit losses | 12,071 | 12,271 | |||||
| Noninterest income | |||||||
| Dividend income | 2,711 | 1,128 | |||||
| Net loss on loan servicing assets | (12,500 | ) | (5,383 | ) | |||
| Servicing income | 17,655 | 14,922 | |||||
| Net gains on sales of loans | 38,050 | 68,531 | |||||
| Net (loss) gain on residuals in securitizations | 30,015 | — | |||||
| Net gain (loss) on loans under the fair value option | 35,566 | (4,181 | ) | ||||
| Technology and IT support income | — | 14,255 | |||||
| Electronic payment processing income | 33,401 | 35,409 | |||||
| Other noninterest income | 24,163 | 28,557 | |||||
| Total noninterest income | 169,061 | 153,238 | |||||
| Noninterest expense | |||||||
| Salaries and employee benefits expense | 64,424 | 60,445 | |||||
| Technology services expense | — | 8,624 | |||||
| Electronic payment processing expense | 13,304 | 14,977 | |||||
| Professional services expense | 11,532 | 11,237 | |||||
| Other loan origination and maintenance expense | 14,468 | 9,391 | |||||
| Depreciation and amortization | 549 | 1,570 | |||||
| Loss on extinguishment of debt | 179 | — | |||||
| Other general and administrative costs | 21,189 | 14,326 | |||||
| Total noninterest expense | 125,645 | 120,570 | |||||
| Net income before taxes | 55,487 | 44,939 | |||||
| Income tax expense | 14,516 | 12,410 | |||||
| Net income | 40,971 | 32,529 | |||||
| Dividends to preferred shareholders | (1,272 | ) | (1,200 | ) | |||
| Net income available to common shareholders | $ | 39,699 | $ | 31,329 | |||
| Earnings per Common Share: | |||||||
| Basic | $ | 1.57 | $ | 1.26 | |||
| Diluted | $ | 1.54 | $ | 1.26 | |||
Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited)
The information provided below presents a reconciliation of each of our non-GAAP financial measures to the most directly comparable GAAP financial measure. Ratios for three month periods ended have been annualized based on calendar days.
| NewtekOne, Inc. | As of and for the three months ended | ||||||||||
| (dollars and number of shares in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | ||||||||
| Return on Average Equity and Average Tangible Common Equity | |||||||||||
| Numerator: Net Income (GAAP) | $ | 17,429 | $ | 13,703 | $ | 11,934 | |||||
| Tax-adjusted amortization of intangibles | 307 | 117 | 384 | ||||||||
| Dividend on preferred equity | (472 | ) | (400 | ) | (400 | ) | |||||
| Numerator: Adjusted net income | 17,264 | 13,420 | 11,918 | ||||||||
| Average Total Shareholders' Equity1 | 339,116 | 299,308 | 258,326 | ||||||||
| Deduct: Preferred Stock (GAAP) | 35,802 | 19,738 | 19,738 | ||||||||
| Average Common Shareholders' Equity1 | 303,314 | 279,570 | 238,588 | ||||||||
| Return on Average Common Equity | 20.4 | % | 18.4 | % | 18.4 | % | |||||
| Deduct: Average Goodwill and Intangibles1 | 14,653 | 15,130 | 29,883 | ||||||||
| Denominator: Average Tangible Common Equity1 | $ | 288,661 | $ | 264,440 | $ | 208,705 | |||||
| Return on Average Tangible Common Equity1 | 23.7 | % | 20.4 | % | 22.7 | % | |||||
| Return on Average Assets | |||||||||||
| Numerator: Net Income (GAAP) | $ | 17,429 | $ | 13,703 | $ | 11,934 | |||||
| Denominator: Average Assets1 | 2,262,658 | 2,098,325 | 1,551,009 | ||||||||
| Return on Average Assets1 | 3.06 | % | 2.62 | % | 3.06 | % | |||||
| Pre-Provision Net Revenue (PPNR) | |||||||||||
| Net Income before Taxes (GAAP) | $ | 25,066 | $ | 18,772 | $ | 17,057 | |||||
| Add: Provision for Credit Losses (GAAP) | 7,712 | 9,117 | 6,928 | ||||||||
| Pre-Provision Net Revenue1,2 | $ | 32,778 | $ | 27,889 | $ | 23,985 | |||||
| Pre-Provision Return on Average Assets (PPROA) | |||||||||||
| Pre-Provision Net Revenue1,2 | $ | 32,778 | $ | 27,889 | $ | 23,985 | |||||
| Denominator: Average Assets1 | 2,262,658 | 2,098,325 | 1,551,009 | ||||||||
| Pre-Provision Return on Average Assets1 | 5.75 | % | 5.33 | % | 6.15 | % | |||||
| NewtekOne, Inc. | As of and for the three months ended | ||||||||||
| (dollars and number of shares in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | ||||||||
| Efficiency Ratio | |||||||||||
| Numerator: Non-Interest Expense (GAAP) | $ | 42,159 | $ | 42,309 | $ | 38,847 | |||||
| Net Interest Income (GAAP) | 14,549 | 13,923 | 10,981 | ||||||||
| Non-Interest Income (GAAP) | 60,388 | 56,275 | 51,851 | ||||||||
| Denominator: Total Income | $ | 74,937 | $ | 70,198 | $ | 62,832 | |||||
| Efficiency Ratio1 | 56.3 | % | 60.3 | % | 61.8 | % | |||||
| Tangible Book Value Per Share | |||||||||||
| Total Shareholders' Equity (GAAP) | $ | 386,707 | $ | 312,180 | $ | 281,785 | |||||
| Deduct: Goodwill and Intangibles (GAAP) | 14,633 | 14,672 | 29,624 | ||||||||
| Numerator: Total Tangible Book Value1 | $ | 372,074 | $ | 297,508 | $ | 252,161 | |||||
| Denominator: Total Number of Shares Outstanding | 28,876 | 26,317 | 26,018 | ||||||||
| Tangible Book Value Per Share1 | $ | 12.89 | $ | 11.30 | $ | 9.69 | |||||
| Tangible Book Value Per Common Share | |||||||||||
| Total Tangible Book Value1 | $ | 372,074 | $ | 297,508 | $ | 252,161 | |||||
| Deduct: Preferred Stock (GAAP) | 48,181 | 19,738 | 19,738 | ||||||||
| Numerator: Tangible Book Value Per Common Share1 | $ | 323,893 | $ | 277,770 | $ | 232,423 | |||||
| Denominator: Total Number of Shares Outstanding | 28,876 | 26,317 | 26,018 | ||||||||
| Tangible Book Value Per Common Share1 | $ | 11.22 | $ | 10.55 | $ | 8.93 | |||||
| 1Non-GAAP financial measure. | |||||||||||
| 2PPNR is a non-GAAP metric calculated based on total net revenue less non-interest expense before adjusting for the provision for credit losses for the period. Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses. | |||||||||||
FAQ
What did NewtekOne (NEWT) report for 3Q25 EPS on October 29, 2025?
How did NewtekOne's revenue and PPNR change in 3Q25 versus 3Q24?
What capital actions did NewtekOne announce in 3Q25 and post-quarter?
Did NewtekOne report deposit and loan growth in 3Q25?
What is NewtekOne's reported profitability metrics for 3Q25 (ROAA/ROTCE)?
Is NewtekOne planning an ALP securitization in Q4 2025 and what is its significance?
Where can investors access NewtekOne's 3Q25 earnings presentation and replay?
