NewtekOne, Inc. Reports Basic and Diluted EPS of $0.36 and $0.35 for the Three Months Ended March 31, 2025
- EPS of $0.35 exceeded guidance range of $0.28-$0.32
- Book value per share increased 13.2% Y/Y to $10.73
- Tangible book value per share grew 23% Y/Y to $10.17
- Pre-provision net revenue increased 47% Y/Y to $25.2M
- Efficiency ratio improved to 62.1% from 70.6% in 1Q24
- Commercial deposits increased 12% Q/Q while wholesale deposits declined 33%
- Net income before taxes decreased 11.1% Y/Y to $11.6M
- Basic and diluted EPS declined from $0.38 in 1Q24 to $0.36/$0.35 in 1Q25
- NSBF subsidiary reported a $5.0M loss in Q1 2025
- Loan loss provisions increased significantly
Insights
NewtekOne exceeded Q1 EPS guidance despite higher loan provisions, projecting 17% EPS growth for 2025 with improving efficiency metrics.
NewtekOne delivered diluted EPS of $0.35 in Q1 2025, exceeding their guidance range of $0.28-$0.32 despite operating in what management described as a challenging economic environment. While this represents a modest year-over-year decline from $0.38 in Q1 2024, the company showed impressive improvements in several key metrics. Most notably, pre-provision net revenue surged 47% year-over-year to $25.2 million, demonstrating strong fundamental operating performance.
The company's efficiency ratio improved significantly to 62.1% from 70.6% in Q1 2024, indicating better cost control and operational leverage. Book value per share grew 13.2% year-over-year to $10.73, but the more impressive figure is tangible book value per share, which jumped 23% to $10.17. This substantial growth in tangible equity provides enhanced financial flexibility and protection against potential credit losses.
Looking forward, NewtekOne projects 2025 EPS in the range of $2.10-$2.50, with the midpoint implying 17% growth despite expecting nearly doubled loan loss provisions. This suggests management anticipates strong core earnings power will more than offset increased credit costs. The company's diversified revenue streams from both bank and non-bank subsidiaries - particularly its merchant services and alternative loan program - appear to be providing resilience against potential banking sector headwinds.
NewtekOne's hybrid financial model shows strength with above-average profitability metrics and improving funding mix despite legacy portfolio drag.
NewtekOne's Q1 results demonstrate the advantages of their hybrid financial holding company structure that combines a national bank charter with specialized non-bank subsidiaries. The company achieved a return on average assets of 1.81% and return on average tangible common equity of 13.9% - metrics that substantially outperform typical regional bank averages.
Their funding strategy shows encouraging progress with commercial deposits increasing 12% quarter-over-quarter while simultaneously reducing higher-cost wholesale funding by 33%. This deposit mix optimization should support net interest margin preservation in an uncertain rate environment. The successful completion of their third alternative loan program securitization ($184 million of rated notes backed by $216 million of loans) demonstrates continued access to capital markets and funding diversification.
A critical turning point appears to be occurring with their legacy Newtek Small Business Finance subsidiary, which has been a significant earnings drag. NSBF losses decreased more than 50% quarter-over-quarter from $10.7 million to $5.0 million, and the subsidiary's portfolio now represents just 21% of total loans, down from 41% a year ago. With this portfolio fully seasoned beyond 24 months and non-accrual inflows decelerating for the third consecutive quarter, management expects this historical headwind to diminish substantially in 2025.
The company's loan origination remains solid with SBA 7(a) fundings of $213.4 million, slightly higher than Q1 2024, while alternative lending channels and traditional banking products continue to expand. Their projection of $1 billion in SBA 7(a) fundings for 2025 appears achievable based on current momentum.
EPS Exceeded NewtekOne's Projected
BOCA RATON, Fla., May 06, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (Nasdaq: NEWT) reports its financial and operating results for the three months ended March 31, 2025 ("1Q25").
“In a challenging and fluid economic environment, we are extremely pleased to post solid quarterly results that include diluted earnings per share ("EPS") of
Financial Highlights for 1Q25
- Basic and diluted EPS were
$0.36 and$0.35 , respectively, vs.$0.38 and$0.38 , respectively, for 1Q24. - Book value per common share ended 1Q25 at
$10.73 , up Y/Y and Q/Q by13.2% and2.0% , respectively. - Tangible book value per common share1 ended 1Q25 at
$10.17 , up Y/Y and Q/Q by23.0% and8.3% , respectively. - Net income before taxes for 1Q25 was approximately
$11.6 million , down11.1% Y/Y from$13.1 million for 1Q24. - PPNR1,2 was approximately
$25.2 million , an increase of47.0% Y/Y from$17.1 million for 1Q24. - The efficiency ratio1 was
62.1% , an improvement from70.6% for 1Q24. - Return on average assets (“ROAA”)1 was
1.81% . EPS guidance implies a range for 2025 ROAA of2.2% -2.7% . - Return on average equity ("ROAE")1 was
12.7% . EPS guidance implies a range for 2025 ROAE of17.2% -20.2% . - Return on average tangible common equity (“ROTCE”)1 was
13.9% . EPS guidance implies a range for 2025 ROTCE of18.7% -22.0% . - Pre-provision return on average assets ("PPROA")1 was
4.86% .
Lending and Other Select Highlights for 1Q25
- SBA 7(a) loan originations approximated
$213.4 million for 1Q25 compared to 1Q24 originations of$211.5 million . - Alternative Loan Program ("ALP") loan originations were
$68.5 million for 1Q25. - SBA 504 loan originations totaled roughly
$16.9 million for 1Q25. In addition, the Company executed$12.9 million of SBA 504 loan sales in 1Q25. - Newtek Bank originated
$41.2 million and$22.7 million of CRE and C&I loans HFI in 1Q25. - Commercial deposits at Newtek Bank increased
$28 million , or12% Q/Q, while core consumer deposits grew$17 million , or2% Q/Q; wholesale deposits declined$24 million , or33% Q/Q.
Post 1Q25 Highlights
- On April 23, 2025, the Company closed an ALP loan securitization with the sale of
$184 million of rated notes backed by$216 million of ALP loans. The transaction represents the Company's third asset-backed securitization secured by ALP loans and its 16th rated securitization. - On April 30, 2025, the Company paid a quarterly cash dividend of
$0.19 per share on its outstanding common shares.
2025 Forecasts
The Company forecasts for 2025:
- Annual EPS in a range of
$2.10 t o$2.50 . The mid-point of the range implies17% EPS growth in 2025 even with a projected, near-doubling of the loan loss provision. $1.0 billion in total SBA 7(a) loan fundings,$250 million in SBA 504 loan closings, and$500 million in ALP loan originations.- Newtek Bank’s combined C&I and CRE loan portfolios to grow by
$225 million . - Newtek Bank’s deposits to grow by
$345 million , including$150 million of commercial deposit growth and$180 million of core consumer deposit growth.
In further commenting on 1Q25 results, Mr. Sloane said, “Keep in mind that our first quarter has historically been our lowest for earnings, loan originations, and profitability. In addition, we highlighted last quarter that we believed the earnings headwind from our Newtek Small Business Finance ("NSBF") subsidiary, which is winding down, was dissipating. We saw evidence of that again this quarter with the NSBF loss decreasing more than
Mr. Sloane added, “We believe the investment community should consider what we believe to be our unique approach to operating as a financial holding company that includes meaningful activity by our non-bank subsidiaries. Our alternative loan program (Newtek ALP Holdings) and our merchant services business (Newtek Merchant Solutions ("NMS")) generate significant earnings for the Company, as detailed in the segment reporting in our regulatory filings. For example, two weeks ago we reported that we closed our third ALP loan-backed securitization (and overall 16th securitization) with healthy demand for the rated notes from some of the largest asset managers in the U.S. The alternative loan program allows us to maximize our referral network and infrastructure while supplementing earnings and profitability. Similarly, NMS, because of its “asset-light” character, is accretive to the Company’s profitability and earnings stream, and more importantly, fits squarely into the menu of financial and business solutions we offer to clients on-demand. ALP and NMS are just two examples of how we believe NewtekOne can sustain above-average EPS growth, tangible book value per share growth, and profitability.”
Mr. Sloane continued, “In our conference call scheduled for tomorrow at 8:30 am, and in the presentation prepared for the conference call, we plan to highlight metrics that demonstrate our unique structure and the progress we are making as we continue to reap the benefits of our transition into a financial holding company with ownership of Newtek Bank - a technology-enabled, nationally chartered commercial bank. Those metrics include robust PPNR, above-average profitability, improving operating efficiency, growing tangible book value per share, significant loan and deposit growth, a variety of funding sources, and diverse and sustainable sources of revenue. And, perhaps, most top of mind, is the ability to weather a seasoning loan portfolio that requires hefty initial provisions for credit losses to build an adequate allowance for credit losses. To that point, we show on page 5 of the conference call presentation an updated 2025 income statement forecast that continues to project an EPS mid-point of
Mr. Sloane concluded, “With a business model designed to provide independent business owner clients with a complete set of financial and business solutions and with our ability to continue to grow business deposits and reduce our cost of funding over the course of time, we believe that the Company is well positioned to deliver value to independent business owners in all 50 states. In addition, our experienced management team has decades of experience working together and a demonstrated ability to weather various operating conditions, whether interest rates are higher or lower or the economy is strengthening or deteriorating. We look forward to addressing you tomorrow.”
First Quarter 2025 Conference Call and Webcast
A conference call to discuss the first quarter 2025 financial and operating results will be hosted by Barry Sloane, Chief Executive Officer, President and Chairman, Frank M. DeMaria, Chief Financial Officer - NewtekOne Inc., and M. Scott Price, Chief Financial Officer - Newtek Bank, N.A., tomorrow, Wednesday, May 7, 2025, 8:30 a.m. ET.
Please note, to attend the conference call or webcast, participants should register online at NewtekOne, Inc. First 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. First 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 March 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. In addition, earnings per share guidance reflects risks, uncertainties and assumptions with respect to facts and circumstances that are beyond our control, in particular concerning interest rates, monetary policy and prevailing economic conditions during the relevant periods, any of which may differ significantly from our assumptions about the applicable period, causing our actual operating results, including our earnings per share, to differ materially from the stated guidance. 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) | |||||||
| March 31, 2025 | December 31, 2024 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Cash and due from banks | $ | 10,984 | $ | 6,941 | |||
| Restricted cash | 23,368 | 28,226 | |||||
| Interest bearing deposits in banks | 259,782 | 346,207 | |||||
| Total cash and cash equivalents | 294,134 | 381,374 | |||||
| Debt securities available-for-sale, at fair value | 14,127 | 23,916 | |||||
| Loans held for sale, at fair value | 547,958 | 372,286 | |||||
| Loans held for sale, at LCM | 35,849 | 58,803 | |||||
| Loans held for investment, at fair value | 346,794 | 369,746 | |||||
| Loans held for investment, at amortized cost, net of deferred fees and costs | 711,166 | 621,651 | |||||
| Allowance for credit losses | (38,649 | ) | (30,233 | ) | |||
| Loans held for investment, at amortized cost, net | 672,517 | 591,418 | |||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 3,862 | 3,585 | |||||
| Settlement receivable | 6,089 | 52,465 | |||||
| Joint ventures and other non-control investments, at fair value (cost of | 69,242 | 57,678 | |||||
| Goodwill and intangibles | 14,711 | 14,752 | |||||
| Right of use assets | 5,268 | 5,688 | |||||
| Servicing assets, at fair value | 20,215 | 22,062 | |||||
| Servicing assets, at LCM | 24,410 | 24,195 | |||||
| Other assets | 81,561 | 60,636 | |||||
| Assets held for sale | — | 21,308 | |||||
| Total assets | $ | 2,136,737 | $ | 2,059,912 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
| Liabilities: | |||||||
| Deposits: | |||||||
| Noninterest-bearing | $ | 11,920 | $ | 11,142 | |||
| Interest-bearing | 954,401 | 961,910 | |||||
| Total deposits | 966,321 | 973,052 | |||||
| Borrowings | 773,991 | 708,041 | |||||
| Dividends payable | 5,235 | 5,233 | |||||
| Lease liabilities | 6,012 | 6,498 | |||||
| Deferred tax liabilities, net | 5,041 | 2,244 | |||||
| Due to participants | 35,580 | 21,532 | |||||
| Accounts payable, accrued expenses and other liabilities | 42,223 | 40,806 | |||||
| Liabilities directly associated with assets held for sale | — | 6,224 | |||||
| Total liabilities | 1,834,403 | 1,763,630 | |||||
| Shareholders' Equity: | |||||||
| Preferred stock (par value | 19,738 | 19,738 | |||||
| Common stock (par value | 527 | 526 | |||||
| Additional paid-in capital | 220,463 | 218,266 | |||||
| Retained earnings | 61,597 | 57,773 | |||||
| Accumulated other comprehensive income (loss), net of income taxes | 9 | (21 | ) | ||||
| Total shareholders' equity | 302,334 | 296,282 | |||||
| Total liabilities and shareholders' equity | $ | 2,136,737 | $ | 2,059,912 | |||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||
| (In Thousands, except for Per Share Data) | |||||||||||
| Three Months Ended | |||||||||||
| March 31, 2025 | December 31, 2024 | March 31, 2024 | |||||||||
| (unaudited) | (unaudited) | (unaudited) | |||||||||
| Interest income | |||||||||||
| Debt securities available-for-sale | $ | 276 | $ | 314 | $ | 460 | |||||
| Loans and fees on loans | 34,483 | 30,546 | 24,985 | ||||||||
| Other interest earning assets | 3,131 | 2,867 | 1,622 | ||||||||
| Total interest income | 37,890 | 33,727 | 27,067 | ||||||||
| Interest expense | |||||||||||
| Deposits | 9,845 | 8,935 | 5,576 | ||||||||
| Notes and securitizations | 10,974 | 12,027 | 10,827 | ||||||||
| Bank and FHLB borrowings | 3,138 | 1,473 | 1,758 | ||||||||
| Total interest expense | 23,957 | 22,435 | 18,161 | ||||||||
| Net interest income | 13,933 | 11,292 | 8,906 | ||||||||
| Provision for credit losses | 13,505 | 9,474 | 4,015 | ||||||||
| Net interest income after provision for credit losses | 428 | 1,818 | 4,891 | ||||||||
| Noninterest income | |||||||||||
| Dividend income | 1,686 | 391 | 386 | ||||||||
| Net loss on loan servicing assets | (3,652 | ) | (7,282 | ) | (1,735 | ) | |||||
| Servicing income | 5,525 | 5,165 | 5,357 | ||||||||
| Net gains on sales of loans | 12,961 | 28,652 | 20,292 | ||||||||
| Net gain on loans under the fair value option | 18,077 | 9,381 | 2,798 | ||||||||
| Technology and IT support income | — | 5,388 | 5,770 | ||||||||
| Electronic payment processing income | 10,609 | 10,640 | 10,987 | ||||||||
| Other noninterest income | 7,192 | 11,739 | 5,512 | ||||||||
| Total noninterest income | 52,398 | 64,074 | 49,367 | ||||||||
| Noninterest expense | |||||||||||
| Salaries and employee benefits expense | 21,316 | 17,486 | 20,506 | ||||||||
| Technology services expense | — | 3,637 | 3,408 | ||||||||
| Electronic payment processing expense | 4,447 | 4,901 | 4,846 | ||||||||
| Professional services expense | 3,435 | 4,576 | 4,565 | ||||||||
| Other loan origination and maintenance expense | 4,417 | 4,379 | 2,244 | ||||||||
| Depreciation and amortization | 146 | 214 | 532 | ||||||||
| Other general and administrative costs | 7,416 | 6,946 | 5,058 | ||||||||
| Total noninterest expense | 41,177 | 42,139 | 41,159 | ||||||||
| Net income before taxes | 11,649 | 23,753 | 13,099 | ||||||||
| Income tax expense (benefit) | 2,282 | 5,429 | 3,449 | ||||||||
| Net income | 9,367 | 18,324 | 9,650 | ||||||||
| Dividends to preferred shareholders | (400 | ) | (400 | ) | (400 | ) | |||||
| Net income available to common shareholders | $ | 8,967 | $ | 17,924 | $ | 9,250 | |||||
| Earnings per Common Share: | |||||||||||
| Basic | $ | 0.36 | $ | 0.70 | $ | 0.38 | |||||
| Diluted | $ | 0.35 | $ | 0.69 | $ | 0.38 | |||||
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) | March 31, 2025 | December 31, 2024 | March 31, 2024 | ||||||||
| Return on Average Tangible Common Equity | |||||||||||
| Numerator: Net Income (GAAP) | $ | 9,367 | $ | 18,324 | $ | 9,650 | |||||
| Tax-adjusted amortization of intangibles | 117 | 55 | 384 | ||||||||
| Dividend on preferred equity | (400 | ) | (400 | ) | (400 | ) | |||||
| Numerator: Adjusted net income | 9,084 | 17,979 | 9,634 | ||||||||
| Average Total Shareholders' Equity1 | 299,308 | 279,853 | 237,831 | ||||||||
| Deduct: Preferred Stock (GAAP) | 19,738 | 19,738 | 19,738 | ||||||||
| Average Common Shareholders' Equity1 | 279,570 | 260,115 | 218,093 | ||||||||
| Return on Average Equity | 12.7 | % | 26.0 | % | 16.3 | % | |||||
| Deduct: Average Goodwill and Intangibles1 | 15,130 | 29,939 | 30,060 | ||||||||
| Denominator: Average Tangible Common Equity1 | $ | 264,440 | $ | 230,176 | $ | 188,033 | |||||
| Return on Average Tangible Common Equity1 | 13.9 | % | 31.1 | % | 20.6 | % | |||||
| Return on Average Assets | |||||||||||
| Numerator: Net Income (GAAP) | $ | 9,367 | $ | 18,324 | $ | 9,650 | |||||
| Denominator: Average Assets1 | 2,098,325 | 1,787,859 | 1,404,554 | ||||||||
| Return on Average Assets1 | 1.81 | % | 4.08 | % | 2.76 | % | |||||
| Pre-Provision Net Revenue (PPNR) | |||||||||||
| Net Income before Taxes (GAAP) | $ | 11,649 | $ | 23,753 | $ | 13,099 | |||||
| Add: Provision for Credit Losses (GAAP) | 13,505 | 9,474 | 4,015 | ||||||||
| Pre-Provision Net Revenue1,2 | $ | 25,154 | $ | 33,227 | $ | 17,114 | |||||
| Pre-Provision Return on Average Assets (PPROA) | |||||||||||
| Pre-Provision Net Revenue1,2 | $ | 25,154 | $ | 33,227 | $ | 17,114 | |||||
| Denominator: Average Assets1 | 2,098,325 | 1,787,859 | 1,404,554 | ||||||||
| Pre-Provision Return on Average Assets1 | 4.86 | % | 7.39 | % | 4.90 | % | |||||
| NewtekOne, Inc. | As of and for the three months ended | ||||||||||
| (dollars and number of shares in thousands) | March 31, 2025 | December 31, 2024 | March 31, 2024 | ||||||||
| Efficiency Ratio | |||||||||||
| Numerator: Non-Interest Expense (GAAP) | $ | 41,177 | $ | 42,139 | $ | 41,159 | |||||
| Net Interest Income (GAAP) | 13,933 | 11,292 | 8,906 | ||||||||
| Non-Interest Income (GAAP) | 52,398 | 64,074 | 49,367 | ||||||||
| Denominator: Total Income | $ | 66,331 | $ | 75,366 | $ | 58,273 | |||||
| Efficiency Ratio1 | 62.1 | % | 55.9 | % | 70.6 | % | |||||
| Net Interest Margin | |||||||||||
| Net interest income | 13,933 | 11,292 | 8,906 | ||||||||
| Average interest-earning assets | 1,860,221 | 1,603,858 | 1,225,609 | ||||||||
| Net Interest Margin1 | 3.04 | % | 2.80 | % | 2.92 | % | |||||
| Tangible Book Value Per Share | |||||||||||
| Total Shareholders' Equity (GAAP) | $ | 302,334 | $ | 296,282 | $ | 254,132 | |||||
| Deduct: Goodwill and Intangibles (GAAP) | 14,711 | 29,581 | 29,944 | ||||||||
| Numerator: Total Tangible Book Value1 | $ | 287,623 | $ | 266,701 | $ | 224,188 | |||||
| Denominator: Total Number of Shares Outstanding | 26,343 | 26,291 | 24,715 | ||||||||
| Tangible Book Value Per Share1 | $ | 10.92 | $ | 10.14 | $ | 9.07 | |||||
| Tangible Book Value Per Common Share | |||||||||||
| Total Tangible Book Value1 | $ | 287,623 | $ | 266,701 | $ | 224,188 | |||||
| Deduct: Preferred Stock (GAAP) | 19,738 | 19,738 | 19,738 | ||||||||
| Numerator: Tangible Book Value Per Common Share1 | $ | 267,885 | $ | 246,963 | $ | 204,450 | |||||
| Denominator: Total Number of Shares Outstanding | 26,343 | 26,291 | 24,715 | ||||||||
| Tangible Book Value Per Common Share1 | $ | 10.17 | $ | 9.39 | $ | 8.27 | |||||
| 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. | |||||||||||
1 Non-GAAP financial measure; reconciliations of non-GAAP financial measures to the most comparable GAAP measures are set forth on the last page of the financial information accompanying this press release.
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. See our "Reconciliation of GAAP to Non-GAAP Financial Measures" below for a reconciliation and additional information on non-GAAP measures.
FAQ
What was NewtekOne's (NEWT) earnings per share for Q1 2025?
How much did NewtekOne's (NEWT) book value per share grow in Q1 2025?
What are NewtekOne's (NEWT) earnings projections for 2025?
How much did NewtekOne (NEWT) originate in SBA 7(a) loans during Q1 2025?
What dividend did NewtekOne (NEWT) pay in Q1 2025?
