NewtekOne, Inc. Reports 4Q25 and Year-to-Date 2025 Basic and Diluted EPS of $0.65 and $0.65 and $2.21 and $2.18

Rhea-AI Summary

NewtekOne (Nasdaq: NEWT) reported 4Q25 basic and diluted EPS of $0.65 and full‑year 2025 basic and diluted EPS of $2.21 and $2.18, respectively. Total 2025 revenue was $284.8M (+10.6% Y/Y); PPNR rose ~25.1% to $118.7M.

Book value per share was $12.19 (+15.9% Y/Y); tangible book value was $11.68 (+24.4% Y/Y). 2026 EPS guidance range: $2.15–$2.55 (midpoint $2.35).

Positive

• Total revenue +10.6% to $284.8M in 2025
• Pre-provision net revenue +25.1% to $118.7M
• Tangible book value +24.4% Y/Y to $11.68
• Deposits +46% Y/Y and commercial deposits +70% Y/Y
• Closed $295M ALP securitization (largest rated deal)

Negative

• SBA 7(a) originations declined ~18.6% to $768M in 2025
• Allowance for credit losses increased ~49% to $45.2M

Key Figures

4Q25 EPS: $0.65 basic / $0.65 diluted 2025 EPS: $2.21 basic / $2.18 diluted 2026 EPS guidance: $2.15–$2.55 per share (midpoint $2.35) +5 more

8 metrics

4Q25 EPS $0.65 basic / $0.65 diluted 4Q25 vs 4Q24 EPS of $0.70 basic / $0.69 diluted

2025 EPS $2.21 basic / $2.18 diluted FY2025 vs FY2024 EPS of $1.97 basic / $1.96 diluted

2026 EPS guidance $2.15–$2.55 per share (midpoint $2.35) Guidance range established in January 2026

Total revenue 2025 $284.8 million Up 10.6% from $257.6 million in 2024

PPNR 2025 $118.7 million Up from $94.9 million in 2024

Efficiency ratio 2025 58.3% Improved from 63.2% in 2024

ROAA 2025 2.78% Full-year 2025 return on average assets

ROTCE 2025 19.0% Return on average tangible common equity for 2025

Market Reality Check

Price: $14.31 Vol: Volume 215,324 vs 20-day ...

low vol

$14.31 Last Close

Volume Volume 215,324 vs 20-day average 325,714 (relative volume 0.66) indicates subdued trading ahead of the release. low

Technical Price $13.67 is trading above the 200-day MA at $11.37, reflecting a pre-existing upward trend into earnings.

Peers on Argus

While NEWT was flat on the day, regional bank peers like PCB (-1.46%), FNLC (-1....

While NEWT was flat on the day, regional bank peers like PCB (-1.46%), FNLC (-1.93%), BCML (-1.65%), CZFS (-0.99%) and CZNC (-1.47%) traded lower, pointing to stock-specific dynamics rather than a sector-wide move.

Previous Earnings Reports

5 past events · Latest: Feb 26 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Full-year 2024 earnings	Positive	+6.5%	Reported strong FY2024 earnings and raised 2025 EPS forecast.
Nov 06	Q3 2024 earnings	Positive	-2.5%	Delivered higher Q3 2024 EPS and growth but shares fell post-release.
Oct 08	Q3 2024 deposit update	Positive	+0.9%	Announced strong Q3 2024 deposit growth and high insured deposit mix.
Oct 03	Record loan closings	Positive	-0.4%	Reported record Q3 2024 loan closings and robust SBA 7(a) pipeline.
Aug 05	Q2 2024 results	Positive	+0.8%	Posted strong Q2 2024 EPS growth and maintained full-year guidance.

Pattern Detected

Earnings and operating updates have generally been positive and often met with modest positive price reactions, though there are instances where strong fundamentals coincided with short-term pullbacks.

Recent Company History

Over the past year, NewtekOne has repeatedly highlighted strong growth in assets, loans, and deposits, alongside rising EPS. In FY2024, EPS reached $1.97, with 2025 guidance raised soon after. Subsequent quarters emphasized loan closing records, deposit growth at Newtek Bank, and steady EPS progression. The current 2025 EPS of $2.21 and 2026 guidance build directly on this trajectory of expanding balance sheet scale, securitization activity, and technology-enabled banking operations.

Historical Comparison

earnings

+2.2 %

Average Historical Move

Historical Analysis

In the past year, NEWT issued 5 earnings or operating updates, with an average one-day move of 2.21%. This release continues the theme of growing EPS, assets and deposits.

Typical Pattern

Earnings updates show EPS rising from <b>$1.97</b> in 2024 to <b>$2.21</b> in 2025, alongside rapid asset, loan and deposit growth. Management has repeatedly raised or reaffirmed forward EPS ranges, now guiding <b>$2.15–$2.55</b> for 2026, consistent with the strategy of scaling Newtek Bank and securitization activities.

Market Pulse Summary

This announcement reports 2025 EPS of $2.21 basic and $2.18 diluted, up from $1.97 and $1.96 in 2024...

Analysis

This announcement reports 2025 EPS of $2.21 basic and $2.18 diluted, up from $1.97 and $1.96 in 2024, alongside revenue of $284.8M and a better efficiency ratio of 58.3%. Management also set 2026 EPS guidance at $2.15–$2.55 and highlighted strong loan and deposit growth. In light of past earnings releases, investors may track credit quality metrics, securitization performance, and whether returns like 2.78% ROAA and 19.0% ROTCE remain durable.

Key Terms

pre-provision net revenue, SBA 7(a) loans, SBA 504 loans, CRE, +1 more

5 terms

pre-provision net revenue financial

"Pre-provision net revenue ("PPNR")1,2 for 2025 was approximately $118.7 million"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

SBA 7(a) loans financial

"Originated $162 million and $768 million of SBA 7(a) loans in 4Q25 and 2025"

SBA 7(a) loans are U.S. government‑backed small business loans where a private lender provides funds and the Small Business Administration guarantees a portion of the loan like a co‑signer or safety net. They matter to investors because the guarantee lowers lender risk and makes it easier for small companies to get funding, which can boost business growth, affect bank loan portfolios, and influence credit risk and returns in securities tied to small‑business lending.

SBA 504 loans financial

"Originated $52 million and $123 million of SBA 504 loans in 4Q25 and 2025"

SBA 504 loans are a U.S. government‑backed financing program that helps small businesses buy long‑term assets like commercial property or heavy equipment with lower down payments and fixed interest rates. Think of it as a mortgage split between a regular bank and a nonprofit lender, designed to keep more cash in the business for growth. Investors watch these loans because they influence small business expansion, commercial real estate demand, and the credit risk exposure of banks and lenders.

CRE financial

"Originated $25 million and $17 million of CRE and C&I loans HFI in 4Q25"

Commercial real estate (CRE) means buildings and land used to generate income—like offices, shopping centers, warehouses and apartment complexes. Investors care because CRE produces rent, affects a company’s costs and value, and is sensitive to interest rates and the economy; think of it as a business’s rental property whose income and price can swing with market demand and borrowing costs, influencing returns and risk.

asset-backed securitization financial

"represents the Company’s fourth asset-backed securitization secured by ALP loans"

Asset-backed securitization is a process where a financial institution pools together a group of assets—such as loans or receivables—and converts them into a security that can be sold to investors. This allows the original lender to raise funds quickly, while investors gain access to a stream of payments derived from the underlying assets. It’s similar to bundling multiple small income sources into a single investment, providing both liquidity for lenders and investment opportunities for others.

AI-generated analysis. Not financial advice.

Midpoint of 2026 Guidance Range is $2.35/Share

BOCA RATON, Fla., Jan. 29, 2026 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (Nasdaq: NEWT) reports its financial and operating results for the three and twelve month periods ended December 31, 2025.

Financial Highlights for the three and twelve months ended December 31, 2025:

• For the three months ended December 31, 2025 ("4Q25"), basic and diluted earnings per share ("EPS") were $0.65 and $0.65, respectively, vs. $0.70 and $0.69, respectively, for the three months ended December 31, 2024 ("4Q24").
• For the twelve months ended December 31, 2025, basic and diluted EPS were $2.21 and $2.18, respectively, vs. $1.97 and $1.96, respectively, for the twelve months ended December 31, 2024.
• Book value per common share ended 2025 at $12.19, up Y/Y and Q/Q by 15.9% and 4.0%, respectively.
• Tangible book value per common share¹ ended 2025 at $11.68, up Y/Y and Q/Q by 24.4% and 4.1%, respectively.
• Total revenue, defined as the sum of net interest income and noninterest income, was $284.8 million for 2025, up 10.6% over $257.6 million for 2024.
• Net income before taxes for 2025 was approximately $80.0 million, up 16.4% from $68.7 million for 2024.
• Pre-provision net revenue ("PPNR")^1,2 for 2025 was approximately $118.7 million, an increase of 25.1% from $94.9 million for 2024.
• The efficiency ratio¹ was 55.2% for 4Q25 compared to 55.9% for 4Q24; the efficiency ratio was 58.3% for 2025, an improvement from 63.2% for 2024.
• Return on average assets (“ROAA”)¹ was 3.20% for 4Q25 and 2.78% for 2025.
• Return on average equity ("ROAE")¹ was 18.7% for 4Q25 and 16.6% for 2025.
• Return on average tangible common equity (“ROTCE”)¹ was 22.3% for 4Q25 and 19.0% for 2025.
• Pre-provision return on average assets ("PPROA")¹ was 5.39% for 4Q25 and 5.45% for 2025.

____________________
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 4Q25 and 2025

• Originated $113 million and $363 million of Alternative Loan Program (“ALP”) loans in 4Q25 and 2025, respectively, compared to $91 million and $270 million for 4Q24 and 2024.
• Originated $162 million and $768 million of SBA 7(a) loans in 4Q25 and 2025, respectively, compared to 4Q24 and 2024 originations of $262 million and $943 million. In addition, the Company sold $79 million of guaranteed portions of SBA 7(a) loans in 4Q25.
• Originated $52 million and $123 million of SBA 504 loans in 4Q25 and 2025, respectively. In addition, the Company sold $8 million of SBA 504 loans in 4Q25 and $65 million in 2025.
• Originated $25 million and $17 million of CRE and C&I loans HFI in 4Q25 and $104 million and $65 million in 2025.
• Commercial deposits at Newtek Bank increased $34.0 million, or 9% Q/Q, and $164.0 million. or 70% Y/Y, while core consumer deposits grew $167.0 million, or 19% Q/Q, and $293.0 million, or 40%.
• Newtek Bank opened more than 9,000 deposit accounts in 4Q25, surpassing its previous quarterly record for deposit account openings (set in 4Q24) by roughly 50%.
• Since the acquisition of Newtek Bank in early 2023, roughly 50% of Newtek Bank's business lending clients have opened a business deposit account. In addition, since February 2024 when we initiated offering of life insurance to Newtek Bank business lending clients, 25% of those clients have purchased life insurance policies through Newtek Insurance Agency.
• Insured deposits comprised 74% of deposits.
• In 4Q25, repurchased 126,595 common shares at a weighted average cost of $10.43/share.
  

Post 4Q25 Highlights

• On January 1, 2026, the Company paid a dividend on the Company’s outstanding Series B Preferred in the amount of $21.25 per Preferred Share, or $0.53125 per depositary share, which is equivalent to 1/40th of the dividend on the Preferred Shares.
• On January 2, 2026, the Company paid a quarterly cash dividend of $0.19 per share on its outstanding common shares.
• In connection with its Investor Day on January 8th, the Company established an EPS guidance range for 2026 of $2.15-$2.55.
• On January 21, 2026, the Company closed a $295 million securitization backed by $342 million of ALP loans. The securitization, NALP Business Loan Trust 2026-1 (“2026-1”), represents the Company’s fourth asset-backed securitization secured by ALP loans and is the Company’s 17th and largest rated securitization. All of the Company’s prior securitizations have maintained their initial investment-grade ratings or been upgraded and have never been on credit watch. The securitization was roughly ten times oversubscribed with 32 institutions purchasing notes of the securitization.
  

Commenting on the results, Barry Sloane, CEO, President, and Chairman, said, "We are pleased to report basic and diluted EPS of $2.21 and $2.18 for 2025, which compare favorably to basic and diluted EPS of $1.97 and $1.96 for 2024. Our operating model, designed to produce healthy balance sheet growth and profitability and to capture operating leverage, is working as planned. Growth in loans, deposits, and assets for 2025 approximated 53%, 46%, and 33%, respectively. We generated a 2025 return on average assets of 2.78%, which we believe to be among the top 2% of comparably-sized bank holding companies, and a 2025 return on average common tangible equity of 19.0%. Total revenue of $285 million in 2025 was up 10.6% over 2024, while operating expenses increased just 2.1%, leading to an improvement in the operating efficiency ratio from 63.2% for 2024 to 58.3% for 2025. On top of those favorable fundamental trends, we ended the year with a robust capital position after successful common and preferred equity offerings in 2025 and with stabilizing credit quality metrics at Newtek Bank and the Company."

Mr. Sloane continued, "We have entered 2026 with tremendous momentum. Last week, we closed a $295 million ALP securitization that was our fourth securitization backed by ALP loans, our 17th overall, and largest yet. Investor receptivity for the $295 million of rated notes issued in the transaction was incredibly strong. The securitization was ten times oversubscribed and distributed across 32 buyers, including ten first-time buyers of our securitization notes. The ALP loan program is a good example of NewtekOne making good on its mission to provide business and financial solutions to independent business owner clients and to help our clients be more successful. We are deliberately establishing the NewtekOne® brand to reflect our value-creating, patient approach that gives our clients longer-term, reasonably-priced consistent funding, a more effective and cost-efficient way to send and receive money, and readily accessible data and analytics."

Mr. Sloane added, "In January, we celebrated our three-year anniversary of converting to a technology-enabled financial holding company, which improved our ability to deliver our value proposition to our independent business owner clients while allowing us to diversify our funding sources, reduce our funding costs, and generate value for our investors. NewtekOne is more than just an SBA lender; Newtek Bank intends to continue diversifying its loan portfolio in 2026 and beyond. With our technology-enabled platform, we believe that NewtekOne looks different than the vast majority of our competitors. 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. We believe that NewtekOne has demonstrated, in a relatively short period of time, the ability to raise deposits and 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."

Fourth Quarter 2025 Conference Call and Webcast

A conference call to discuss the fourth quarter and full year 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, Thursday, January 29, 2026, at 4:30 p.m. ET.

Please note, to attend the conference call or webcast, participants should register online at NewtekOne, Inc. Fourth 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. Fourth 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-K for the year ended December 31, 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. 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)
	December 31, 2025				December 31, 2024
ASSETS	(Unaudited)
Cash and due from banks	$	4,614			$	6,941
Restricted cash (amounts related to VIEs of $6.3 million and $6.3 million, respectively)		26,059				28,226
Interest bearing deposits in banks		279,618				346,207
Total cash and cash equivalents		310,291				381,374
Debt securities available-for-sale, at fair value		16,829				23,916
Loans held for sale, at fair value		971,837				372,286
Loans held for sale, at LCM		26,532				58,803
Loans held for investment, at fair value (amounts related to VIEs of $213.8 million and $257.2 million, respectively)		281,198				369,746
Loans held for investment, at amortized cost, net of deferred fees and costs		896,689				621,651
Allowance for credit losses		(45,226	)			(30,233	)
Loans held for investment, at amortized cost, net		851,463				591,418
Federal Home Loan Bank and Federal Reserve Bank stock		4,234				3,585
Settlement receivable		438				52,465
Residuals in securitizations, at fair value		76,701				—
Joint ventures and other non-control investments, at fair value (cost of $36,692 and $44,039), respectively		47,719				57,678
Goodwill and intangibles		14,597				14,752
Right of use assets		2,790				5,688
Servicing assets, at fair value		15,358				22,062
Servicing assets, at LCM		29,564				24,195
Other assets		95,268				60,636
Assets held for sale		—				21,308
Total assets	$	2,744,819			$	2,059,912
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Noninterest-bearing	$	53,873			$	11,142
Interest-bearing		1,364,535				961,910
Total deposits		1,418,408				973,052
Borrowings (including borrowings of VIEs of $140.6 million and $186.6 million, respectively)		819,888				708,041
Dividends payable		—				5,233
Lease liabilities		2,874				6,498
Deferred tax liabilities, net		10,728				2,244
Due to participants		52,389				21,532
Accounts payable, accrued expenses and other liabilities		42,962				40,806
Liabilities directly associated with assets held for sale		—				6,224
Total liabilities		2,347,249				1,763,630
Shareholders' Equity:
Series A Preferred stock (par value $0.00 and $0.02 per share; 0 and 20 authorized, 0 and 20 issued and outstanding, respectively)		—				19,738
Series B Preferred stock (par value $0.02 and $0.00 per share; 54 and 0 authorized, 50 and 0 issued and outstanding, respectively)		48,181				—
Common stock (par value $0.02 per share; authorized 199,980 shares, 28,658 and 26,291 issued and outstanding, respectively)		573				526
Retained earnings		94,990				57,773
Additional paid-in capital		253,830				218,266
Accumulated other comprehensive loss, net of income taxes		(4	)			(21	)
Total shareholders' equity		397,570				296,282
Total liabilities and shareholders' equity	$	2,744,819			$	2,059,912

NEWTEKONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands, except for Per Share Data)
	Three Months Ended
	December 31, 2025				September 30, 2025				December 31, 2024
	(unaudited)				(unaudited)				(unaudited)
Interest income
Debt securities available-for-sale	$	234			$	200			$	314
Loans and fees on loans		42,061				36,376				30,546
Other interest earning assets		2,618				2,518				2,867
Total interest income		44,913				39,094				33,727
Interest expense
Deposits		11,813				10,879				8,935
Notes and securitizations		10,254				10,710				12,027
Bank and FHLB borrowings		5,366				2,956				1,473
Total interest expense		27,433				24,545				22,435
Net interest income		17,480				14,549				11,292
Provision for credit losses		8,395				7,712				9,474
Net interest income after provision for credit losses		9,085				6,837				1,818
Noninterest income
Dividend income		500				425				391
Net loss on loan servicing assets		(4,192	)			(4,493	)			(7,282	)
Servicing income		5,195				6,076				5,165
Net gains on sales of loans		9,505				9,563				28,652
Net loss on residuals in securitizations		—				(1,450	)			—
Net gain on loans under the fair value option		25,591				29,250				9,381
Technology and IT support income		—				—				5,388
Electronic payment processing income		10,448				11,053				10,640
Other noninterest income		8,806				9,964				11,739
Total noninterest income		55,853				60,388				64,074
Noninterest expense
Salaries and employee benefits expense		20,346				19,973				17,486
Technology services expense		—				—				3,637
Electronic payment processing expense		4,505				4,429				4,901
Professional services expense		3,929				3,793				4,576
Other loan origination and maintenance expense		4,097				6,764				4,379
Depreciation and amortization		119				129				214
Loss on extinguishment of debt		—				179				—
Other general and administrative costs		7,452				6,892				6,946
Total noninterest expense		40,448				42,159				42,139
Net income before taxes		24,490				25,066				23,753
Income tax expense		4,949				7,165				5,429
Net income		19,541				17,901				18,324
Dividends to preferred shareholders		(1,063	)			(472	)			(400	)
Net income available to common shareholders	$	18,478			$	17,429			$	17,924
Earnings per Common Share:
Basic	$	0.65			$	0.68			$	0.70
Diluted	$	0.65			$	0.67			$	0.69

NEWTEKONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands, except for Per Share Data)
	Year Ended
	December 31, 2025				December 31, 2024
	(unaudited)
Interest income
Debt securities available-for-sale	$	924			$	1,482
Loans and fees on loans		146,274				110,892
Other interest earning assets		11,217				9,044
Total interest income		158,415				121,418
Interest expense
Deposits		41,894				28,690
Notes and securitizations		42,846				45,454
Bank and FHLB borrowings		13,790				6,969
Total interest expense		98,530				81,113
Net interest income		59,885				40,305
Provision for credit losses		38,729				26,216
Net interest income after provision for credit losses		21,156				14,089
Noninterest income
Dividend income		3,211				1,519
Net loss on loan servicing assets		(16,692	)			(12,665	)
Servicing income		22,850				20,087
Net gains on sales of loans		47,555				97,183
Net gain on residuals in securitizations		30,015				—
Net gain on loans under the fair value option		61,157				5,200
Technology and IT support income		—				19,643
Electronic payment processing income		43,849				46,049
Other noninterest income		32,969				40,296
Total noninterest income		224,914				217,312
Noninterest expense
Salaries and employee benefits expense		84,770				77,931
Technology services expense		—				12,261
Electronic payment processing expense		17,809				19,878
Professional services expense		15,461				15,813
Other loan origination and maintenance expense		18,565				13,770
Depreciation and amortization		668				1,784
Loss on extinguishment of debt		179				—
Other general and administrative costs		28,641				21,272
Total noninterest expense		166,093				162,709
Net income before taxes		79,977				68,692
Income tax expense		19,465				17,839
Net income		60,512				50,853
Dividends to preferred shareholders		(2,335	)			(1,600	)
Net income available to common shareholders	$	58,177			$	49,253
Earnings per Common Share:
Basic	$	2.21			$	1.97
Diluted	$	2.18			$	1.96

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)	December 31, 2025		September 30, 2025		December 31, 2024
Return on Average Equity and Average Tangible Common Equity
Numerator: Net Income (GAAP)	$19,541		$17,901		$18,324
Dividend on preferred equity	(1,063)		(472)		(400)
Numerator: Adjusted net income	18,478		17,429		17,924
Average Total Shareholders' Equity1	392,139		339,077		279,853
Return on Average Equity1	18.7%		20.4%		25.5%
Deduct: Preferred Stock (GAAP)	48,181		35,802		19,738
Average Common Shareholders' Equity1	343,958		303,275		260,115
Return on Average Common Equity	19.8%		21.0%		26.1%
Deduct: Average Goodwill and Intangibles1	14,615		14,653		29,603
Denominator: Average Tangible Common Equity1	$329,343		$288,622		$230,512
Return on Average Tangible Common Equity1	22.3%		24.0%		30.9%
Return on Average Assets
Numerator: Net Income (GAAP)	$19,541		$17,901		$18,324
Denominator: Average Assets1	2,423,378		2,262,678		1,787,859
Return on Average Assets1	3.20%		3.14%		4.08%
Pre-Provision Net Revenue (PPNR)
Net Income before Taxes (GAAP)	$24,490		$25,066		$23,753
Add: Provision for Credit Losses (GAAP)	8,395		7,712		9,474
Pre-Provision Net Revenue1,2	$32,885		$32,778		$33,227
Pre-Provision Return on Average Assets (PPROA)
Pre-Provision Net Revenue1,2	$32,885		$32,778		$33,227
Denominator: Average Assets1	2,423,378		2,262,678		1,787,859
Pre-Provision Return on Average Assets1	5.39%		5.75%		7.40%

NewtekOne, Inc.	As of and for the three months ended
(dollars and number of shares in thousands)	December 31, 2025		September 30, 2025		December 31, 2024
Efficiency Ratio
Numerator: Non-Interest Expense (GAAP)	$40,448		$42,159		$42,139
Net Interest Income (GAAP)	17,480		14,549		11,292
Non-Interest Income (GAAP)	55,853		60,388		64,074
Denominator: Total Income	$73,333		$74,937		$75,366
Efficiency Ratio1	55.2%		56.3%		55.9%
Tangible Book Value Per Share
Total Shareholders' Equity (GAAP)	$397,570		$386,707		$296,282
Deduct: Goodwill and Intangibles (GAAP)	14,597		14,633		29,582
Numerator: Total Tangible Book Value1	$382,973		$372,074		$266,700
Denominator: Total Number of Shares Outstanding	28,658		28,876		26,291
Tangible Book Value Per Share1	$13.36		$12.89		$10.14
Tangible Book Value Per Common Share
Total Tangible Book Value1	$382,973		$372,074		$266,700
Deduct: Preferred Stock (GAAP)	48,181		48,181		19,738
Numerator: Tangible Common Book Value1	$334,792		$323,893		$246,962
Denominator: Total Number of Shares Outstanding	28,658		28,876		26,291
Tangible Book Value Per Common Share1	$11.68		$11.22		$9.39

NewtekOne, Inc.	As of and for the twelve months ended
(dollars and number of shares in thousands)	December 31, 2025		December 31, 2024
Return on Average Equity and Average Tangible Common Equity
Numerator: Net Income (GAAP)	$60,512		$50,853
Dividend on preferred equity	(2,335)		(1,600)
Numerator: Adjusted net income	58,177		49,253
Average Total Shareholders' Equity1	351,370		262,830
Return on Average Equity1	16.6%		18.7%
Deduct: Preferred Stock (GAAP)	30,775		19,738
Average Common Shareholders' Equity1	320,595		243,092
Return on Average Common Equity	17.2%		19.3%
Deduct: Average Goodwill and Intangibles1	14,773		29,582
Denominator: Average Tangible Common Equity1	$305,822		$213,510
Return on Average Tangible Common Equity1	19.0%		23.1%
Return on Average Assets
Numerator: Net Income (GAAP)	$60,512		$50,853
Denominator: Average Assets1	2,177,755		1,588,113
Return on Average Assets1	2.78%		3.20%
Pre-Provision Net Revenue (PPNR)
Net Income before Taxes (GAAP)	$79,977		$68,692
Add: Provision for Credit Losses (GAAP)	38,729		26,216
Pre-Provision Net Revenue1,2	$118,706		$94,908
Pre-Provision Return on Average Assets (PPROA)
Pre-Provision Net Revenue1,2	$118,706		$94,908
Denominator: Average Assets1	2,177,755		1,588,113
Pre-Provision Return on Average Assets1	5.45%		5.98%
Efficiency Ratio
Numerator: Non-Interest Expense (GAAP)	$166,093		$162,709
Net Interest Income (GAAP)	59,885		40,305
Non-Interest Income (GAAP)	224,914		217,312
Denominator: Total Income	$284,799		$257,617
Efficiency Ratio1	58.3%		63.2%
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 were NewtekOne (NEWT) earnings per share for 2025 and 4Q25?

NewtekOne reported 2025 basic EPS of $2.21 and diluted EPS of $2.18. According to the company, 4Q25 basic and diluted EPS were $0.65, down slightly from 4Q24.

How did NewtekOne's revenue and PPNR perform in 2025 (NEWT)?

Revenue rose to $284.8M in 2025, up 10.6% year-over-year. According to the company, pre-provision net revenue increased to about $118.7M, a 25.1% gain versus 2024.

What is NewtekOne's 2026 EPS guidance and midpoint (NEWT)?

NewtekOne set 2026 EPS guidance at $2.15–$2.55, with a midpoint of $2.35. According to the company, this range was established at its January 8, 2026 Investor Day.

How did NewtekOne's deposit growth and bank activity look in 4Q25 and 2025 (NEWT)?

Deposits grew substantially: commercial deposits up 70% Y/Y and core consumer deposits up 40% Y/Y. According to the company, Newtek Bank opened over 9,000 deposit accounts in 4Q25.

What notable capital markets activity did NewtekOne complete in January 2026 (NEWT)?

On January 21, 2026, NewtekOne closed a $295M securitization backed by $342M of ALP loans. According to the company, the deal was roughly ten times oversubscribed and its largest rated securitization.