Welcome to our dedicated page for NewtekOne news (Ticker: NEWT), a resource for investors and traders seeking the latest updates and insights on NewtekOne stock.
NewtekOne, Inc. reports developments as a financial holding company serving independent business owners through Newtek Bank, N.A. and non-bank subsidiaries. Its updates cover banking, business lending, SBA lending solutions, Alternative Loan Program and C&I longer-amortizing loans, deposit products, payment processing, payroll and benefits, insurance solutions, and technology services offered under the Newtek brand.
Company news also includes the Newtek Advantage business portal, FedNow® and RTP® instant-payment capabilities, the AI-powered NewTracker® loan processing system, and the Newtek Seven Day Business Loan™. Financial releases address loan origination activity, deposit trends, securitizations, credit facilities, common dividends, and Series B preferred share dividends.
Newtek Business Services Corp (NASDAQ: NEWT) announced a conference call on March 2, 2022, at 8:30 am ET. CEO Barry Sloane will discuss the pending acquisition of the National Bank of New York City, providing revised illustrations on the matter. The call will be accessible via telephone and a live webcast will be available on the company’s website. Newtek aims to deliver cost-efficient solutions to the SMB market and has been operational since 1999, focusing on business lending, technology solutions, and various financial services.
Newtek Business Services Corp. (NASDAQ: NEWT) reported its financial results for the year ending December 31, 2021, highlighting total investment income of $108.5 million, up 17.7% year-over-year. Net investment income decreased to $25.7 million, or $1.13 per share, a 25.8% drop from the previous year. However, adjusted net investment income surged 69.3% to $79.1 million, or $3.47 per share. The company achieved record SBA 7(a) loans of $560.6 million for the full year, forecasting $750 million for 2022. Newtek also declared a cash dividend of $0.652 per share for Q1 2022, representing a 30% increase.
Newtek Business Services Corp. (NASDAQ: NEWT) announced a forecasted cash dividend of $0.65 per share for the second quarter of 2022, matching the previously declared first quarter dividend. This brings the total to $1.30 per share for the first six months of the year. CEO Barry Sloane expressed satisfaction with the momentum from core businesses, leading to this dividend forecast. The dividend is subject to Board approval, aiming to distribute approximately 90-100% of annual taxable income to shareholders.
Newtek Business Services Corp (Nasdaq: NEWT) will release its full year 2021 financial results on February 23, 2022, after market closure. A conference call, led by CEO Barry Sloane and Chief Accounting Officer Nicholas Leger, is scheduled for February 24, 2022, at 8:30 am ET. Investors can access the call via phone or a live webcast on the company’s Investor Relations website. Newtek, offering extensive business solutions to small and medium-sized businesses since 1999, emphasizes growth, cost-efficiency, and risk reduction in its service portfolio.
Newtek Business Services Corp. (NASDAQ: NEWT) announced the successful closing of its $56.3 million commercial loan securitization via Newtek Conventional Lending LLC. The transaction, rated 'A' (sf) by DBRS Morningstar, is secured by a pool of conventional business loans, with a 65.0% advance rate and a yield of 3.209%. CEO Barry Sloane highlighted this as a significant milestone, expanding their lending capabilities beyond traditional SBA programs to accommodate diverse borrower needs. The company also plans to acquire National Bank of New York City, enhancing its service offerings.
Newtek Business Services Corp (NASDAQ: NEWT) declared a Q1 2022 cash dividend of $0.65 per share, a 30% increase from Q1 2021 and 47.7% from Q1 2020. CEO Barry Sloane noted the absence of Paycheck Protection Program (PPP) income in 2022 but highlighted strong operational performance and a forecast for record loan origination volumes. For 2021, Newtek anticipates closing loans exceeding $1.4 billion, with expected funding in Q4 2021 of over $200 million in SBA 7(a) loans. The Board aims for quarterly distributions approximating 90-100% of annual taxable income.
Newtek Business Services Corp (NASDAQ: NEWT) has declared a first-quarter 2022 cash dividend of $0.65 per share, set for payment on March 31, 2022 to shareholders of record as of March 21, 2022. This dividend represents a 30% increase over the $0.50 dividend from Q1 2021 and a 47.7% increase over the $0.44 from Q1 2020. The Board aims to distribute between 90% to 100% of the company’s annual taxable income, ensuring sustainability of dividend payments.
Newtek Business Services Corp (NASDAQ: NEWT) announced the redemption of $40 million of its 5.75% Notes due 2024 on December 29, 2021. This redemption will be at 100% of the principal amount, plus accrued interest. The company aims to replace higher-cost debt with lower-cost capital, enhancing liquidity and supporting future growth. This move is part of Newtek's strategy to grow earnings per share, reduce risk, and increase cash flow. The company emphasizes its ability to execute its financial plans effectively.
Newtek Business Services Corp (NASDAQ: NEWT) has successfully closed its eleventh small business loan securitization, generating $103.43 million from Unguaranteed SBA 7(a) Loan-Backed Notes. The Class A and B Notes were rated ‘A’ and ‘BBB-’ respectively, with an average initial yield of 2.02%. Newtek remains the largest non-bank SBA lender and will pay a $1.05 dividend on December 30, 2021, reflecting a 53.7% increase over last year. The company expects its 2021 SBA 7(a) loan funding forecast to be between $560 million and $600 million, a notable increase from 2019.
Newtek Business Services Corp. (NASDAQ: NEWT) reported mixed financial results for Q3 2021. Total investment income decreased by 16.7% to $12.4 million, while net investment loss reached $(6.7) million, or $(0.30) per share. Conversely, adjusted net investment income (ANII) surged 1300% to $12.6 million or $0.56 per share. The company’s total investment portfolio grew by 11.7% to $712.5 million. Moreover, Newtek announced a cash dividend of $1.05 per share for Q4 2021, reflecting a 123.4% increase year-over-year. The company reaffirmed its full-year guidance for net investment income per share at $0.80.