NewtekOne, Inc. - NEWT STOCK NEWS

NewtekOne (NASDAQ: NEWT) announced the integration of Newtek Advantage® with Intuit QuickBooks®, enhancing its financial management platform for independent business owners. The integration works with both QuickBooks Online and Desktop versions, providing real-time access to essential financial data including revenue, profits, account balances, and invoices.

The enhanced Newtek Advantage platform now offers a comprehensive single-pane-of-glass dashboard that combines QuickBooks data with existing features such as credit card payment tracking, Newtek Bank access, payroll services, document storage, and website analytics. Users can view and filter financial data by day, month, or year, enabling more informed decision-making through consolidated access to banking, payment processing, and accounting information.

NewtekOne (NASDAQ: NEWT) has scheduled its fourth quarter and full year 2024 financial results announcement for Wednesday, February 26, 2025, after market close. The company will host a conference call on Thursday, February 27, 2025, at 8:30 am ET, led by CEO Barry Sloane and CFO M. Scott Price.

Interested participants must pre-register online to receive dial-in information or access the webcast. The earnings presentation will be available for review on February 26, 2025, in the 'Events & Presentations' section of NewtekOne's Investor Relations website. A replay of the call and presentation will be accessible on the company's website for one year following the live presentation.

NewtekOne's subsidiary, Newtek Bank, reported significant growth reaching $1.03 billion in total deposits as of December 31, 2024, marking a 97% increase year-over-year. The bank has grown its deposits by $884 million since its acquisition in January 2023.

Key metrics include: 78% insured deposits, core business deposits of $216 million (96% increase), and 950 new business checking accounts added in Q4 2024. The bank expanded from 1,400 to approximately 15,000 bank accounts over two years.

The deposit composition consists of 28% commercial deposits (including 3% brokered CDs) and 72% consumer deposits. The bank maintains an efficiency ratio below 40% and operates through a digital account opening process with 24/7/365 U.S.-based video representative support.

NewtekOne (NASDAQ: NEWT) and Paltalk (NASDAQ: PALT) have scheduled a conference call on January 2, 2025, to discuss Paltalk's acquisition of Newtek Technology Solutions (NTS). The deal, set to close on January 2, 2025, involves Paltalk paying $4 million in cash and issuing 4 million shares of newly created non-voting preferred stock to NewtekOne.

The agreement includes a potential earn-out of up to $5 million based on 2025-2026 Adjusted EBITDA performance. NTS currently manages IT services for approximately 17,000 customers. Post-acquisition, all 47 NTS team members will be retained by Paltalk, which plans to rename itself to Intelligent Protection Management Corp with a new ticker 'IPM'. NewtekOne will maintain its IT services through NTS and continue referring technology solutions opportunities to Paltalk.

NewtekOne (NASDAQ: NEWT) has announced a quarterly cash dividend of $0.19 per share on its outstanding common stock. The dividend will be paid on January 13, 2025, to shareholders who are on record as of December 31, 2024. The company notes that future dividend amounts and timing remain subject to the Board of Directors' discretion.

NewtekOne (NASDAQ: NEWT) and Apiture have been awarded Most Effective Bank-FinTech Partnership at the IBSi Global FinTech Innovation Awards 2024. Newtek Bank, launched in 2023 as a digital-only federally chartered bank, has achieved significant growth using Apiture's digital banking platform. The bank's deposits grew from $140 million to $928 million through November 30, 2024, representing a 563% increase. The bank has opened and manages over 14,000 distinct accounts.

The partnership integrated digital banking capabilities into The Newtek Advantage™ platform, offering business customers access to payroll, payment processing, insurance, business lending, and other solutions in a single online portal. This integration was achieved without using brokers, branches, or business development officers.

NewtekOne (NASDAQ: NEWT) has reaffirmed its forecast to originate approximately $1.4 billion in business loans in 2024 across various loan products. The company projects $1.9 billion in business loans for 2025, representing a 36% increase.

The loan portfolio includes SBA 7(a), SBA 504, alternative loan program, CRE conforming, and C&I conforming loans. Most growth in 2025 is expected from alternative loans, CRE conforming loans, C&I conforming loans, and SBA 504 loans. The company maintains its EPS forecast of $1.85-$2.05 for 2024 and $2.00-$2.25 for 2025.

NewtekOne's subsidiary, Newtek Bank, has launched Zero-Fee Business Banking™, offering commercial clients depository accounts without any hidden fees or costs. The program eliminates charges for ACH, wires, monthly service, maintenance, overdrafts, and insufficient funds, with no minimum balance requirements. The bank aims to provide higher interest rates compared to national averages on commercial checking and savings accounts. Customers can verify potential savings using the newly launched Newtek Zero-Fee Calculator™ on their website.

NewtekOne (NASDAQ: NEWT) CEO Barry Sloane was interviewed at the LD Micro Main Event XVII Investor Conference by Sequire CEO Chris Miglino. The 13-minute interview covered NewtekOne's history and its current role in serving approximately 30 million independent business owners across the United States. Sloane discussed the company's two decades of operating experience and its strategic position as a bank holding company with a national charter, highlighting potential for continued growth and market share expansion.