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 that it will release its third quarter 2021 financial results on November 8, 2021, after market close. A conference call to discuss these results will occur on November 9, 2021, at 8:30 am ET, featuring CEO Barry Sloane and Chief Accounting Officer Nicholas Leger. Interested parties can join the call by dialing (877) 303-6993 or (760) 666-3611. The conference will also be available via a live webcast on Newtek’s Investor Relations website and subsequently as a replay for 90 days.
Newtek Business Services Corp (NASDAQ: NEWT) announced a $1.05 cash dividend for Q4 2021, payable on December 30, 2021. This represents a 123.4% increase from the prior year's dividend of $0.47. In total, Newtek expects to distribute $3.15 per share in dividends for 2021, marking a 53.7% increase from 2020. The company aims to maintain a policy of quarterly distributions approximating 90-100% of annual taxable income, subject to board discretion.
Newtek Business Services Corp (NASDAQ: NEWT) has expanded its Board of Directors by electing two new members, Fernando Perez-Hickman and Halli Razon-Feingold, bringing the total to seven directors. The board now includes four independent directors and three interested directors. Perez-Hickman brings extensive experience in management and corporate strategy, while Razon-Feingold has over ten years with the company, currently serving as Chief Administrative Officer. This move is expected to enhance the company's governance and support its growth strategy.
Newtek Business Services Corp (Nasdaq: NEWT) forecasted a Q1 2022 dividend of $0.65 per share and reaffirmed the annual 2021 dividend forecast at $3.15 per share, indicating a robust recovery and growth trajectory. The projected net investment income (NII) for 2021 is $0.80 per share, with an adjusted net investment income (ANII) forecast of $3.40 per share, showcasing significant increases from previous years. CEO Barry Sloane expressed confidence in the company’s strategic growth and returning to core business solutions in the post-pandemic landscape.
Newtek Business Services Corp. (NEWT) declared a $0.90 dividend for Q3 2021, representing a 55.2% increase from Q3 2020. In the first three quarters of 2021, total dividends reached $2.10, a 32.9% rise from the previous year. For Q2 2021, total investment income was $36.6 million, down 21.6% year-over-year. Net investment income decreased to $15.5 million from $29.7 million in Q2 2020. The company’s total investment portfolio grew by 7.4% to $696.1 million by June 30, 2021, while NAV increased to $369.0 million, or $16.38 per share.
Newtek Business Services Corp (NASDAQ: NEWT) announced a third quarter 2021 cash dividend of $0.90 per share, payable on September 30, 2021 to shareholders of record as of September 20, 2021. This represents a 55.2% increase compared to the $0.58 dividend paid in the third quarter of 2020. For the first three quarters of 2021, total dividends paid amount to $2.10 per share, a 32.9% rise from the same period in 2020. The company aims for future dividends to approximate 90-100% of its annual taxable income.
Newtek Business Services Corp (Nasdaq: NEWT) announced an addendum to its August 3, 2021 presentation, updating financial information related to its acquisition of National Bank of New York City (NBNYC). This addendum should be reviewed alongside the original presentation and includes information not prepared according to GAAP. The company has filed a Current Report on Form 8-K regarding this matter with the SEC. Newtek emphasizes that the addendum contains forward-looking statements subject to various risks and uncertainties.
Newtek Business Services Corp (Nasdaq: NEWT) appointed Nicolas Young as Chief Risk Officer, bringing over 20 years of credit risk management experience. Young previously served as Executive Vice President and Chief Credit Officer at IBERIABANK and held key positions at Banco Sabadell Group. His expertise will support Newtek's transition to a bank holding company following the acquisition of National Bank of New York City, pending regulatory approvals. Young aims to enhance credit risk management within Newtek's lending portfolio.
Newtek Business Services Corp (Nasdaq: NEWT) announced an agreement to acquire the National Bank of New York City (NBNYC) for $20 million in cash. The acquisition aims to reposition Newtek as a bank holding company, pending regulatory and shareholder approvals. As of June 30, 2021, NBNYC holds approximately $204 million in assets and $36.5 million in Tier 1 capital. Newtek expects the acquisition to enhance shareholder value and enable better service to clients. The company reaffirms its 2021 annual dividend forecast of $3.00 to $3.30 per share, with a conference call scheduled for August 3, 2021.
Newtek Business Services Corp. (Nasdaq: NEWT) announced it will release its second quarter 2021 financial results after market close on August 10, 2021. A subsequent conference call, hosted by CEO Barry Sloane and CAO Nicholas Leger, will take place on August 11, 2021, at 8:30 am ET. Investors can access the call via phone or through a live webcast on Newtek’s website, with a replay available for 90 days. Newtek offers various business and financial solutions to small and medium-sized businesses nationwide.