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) will announce its fourth quarter 2020 financial results on March 22, 2021, after market close. A conference call featuring CEO Barry Sloane and CAO Nicholas Leger will be held on March 23, 2021, at 8:30 am ET to discuss the results. Interested parties can join the call by dialing (877) 303-6993 or (760) 666-3611. A live webcast will also be available on Newtek’s Investor Relations website. Newtek is a business development company offering financial and business solutions to small- and medium-sized businesses.
Newtek Business Services Corp. (NASDAQ: NEWT) announced a significant milestone, achieving a market capitalization of $500 million, based on a closing stock price of $22.98 on February 26, 2021. CEO Barry Sloane expressed pride in this achievement, attributing it to the company's robust business model and adaptability in a dynamic environment. This milestone may enhance the company's appeal to small-cap investors, as they often seek firms with a minimum market cap threshold. Newtek aims to reach $1 billion in total assets in the future.
Newtek Business Services Corp (NASDAQ: NEWT) announced a cash dividend of $0.50 per share for Q1 2021, payable on March 31, 2021, to shareholders of record by March 22, 2021. This marks a 13.6% increase from Q1 2020 and a 25% increase compared to Q1 2019. CEO Barry Sloane expressed confidence in the company's business model and outlook for 2021. The board intends to continue a dividend policy around 90-100% of annual taxable income, but future dividends remain at the board's discretion.
Newtek Business Services Corp (NASDAQ: NEWT) declared a $0.50 cash dividend for Q1 2021, payable on March 31, 2021. This represents a 13.6% increase from the $0.44 dividend in Q1 2020 and a 25% increase from the $0.40 in Q1 2019. The company aims to distribute 90-100% of its annual taxable income through quarterly dividends. This dividend policy demonstrates Newtek's commitment to returning value to shareholders while supporting its growth in the small- and medium-sized business sector.
Newtek Business Services Corp (Nasdaq: NEWT) announced the addition of two senior executives to its portfolio company, Newtek Merchant Solutions. Andrew Jadatz joins as Senior Vice President of Product Development, bringing over 30 years of experience in merchant services, previously at Bank of America. Shawn Ecksel has been appointed as Senior Vice President of Business Development, boasting 15 years in sales and product development, most recently at USPAY Group LLC. CEO Barry Sloane emphasized the importance of leadership in enhancing NMS's market position amidst a competitive landscape.
Newtek Business Services Corp (Nasdaq: NEWT) has announced that its subsidiary, Newtek Small Business Finance, received early access to the Paycheck Protection Program (PPP) loan portal. Starting January 15, 2021, the Small Business Administration (SBA) reopened the portal for lenders with $1 billion or less in assets to submit first- and second-draw PPP loan applications. Newtek emphasizes its enhanced lending platform and technology improvements, positioning itself to provide priority service for independent businesses seeking PPP loans.
Newtek Business Services Corp. (NASDAQ: NEWT) has announced the pricing of its $100 million public offering of 5.50% Notes due 2026, a record for publicly traded baby bonds. The offering was rated BBB+ and received strong institutional demand. The net proceeds will be used to fund investments in debt and equity securities and to repay certain outstanding debts, including 6.25% Notes due 2023. Newtek is optimistic about growth in 2021, focusing on various lending programs and experiencing strong interest in PPP loans.
Newtek Business Services Corp. (NASDAQ: NEWT) has announced the pricing of a public offering of $100 million in 5.50% Notes due 2026. The Notes, maturing on February 1, 2026, can be redeemed at Newtek's discretion starting February 1, 2022. The company intends to use proceeds for investments in debt and equity securities, and to reduce outstanding 6.25% Notes due March 2023. An additional $15 million may be purchased by underwriters to cover overallotments. The offering is subject to customary closing conditions, and notes are expected to be listed on Nasdaq under symbol 'NEWTZ.'
Newtek Business Services Corp. (Nasdaq: NEWT) announced that its subsidiary, Newtek Small Business Finance, is ready to offer the second draw of the Paycheck Protection Program (PPP), starting January 11, 2021. This initiative, part of the $284 billion program authorized by Congress, allows businesses to apply for loans of up to $2 million, contingent on demonstrating a revenue decline of 25% or more in 2020 compared to 2019. In the previous year, Newtek funded $1.19 billion in PPP loans.
Newtek Business Services Corp (Nasdaq: NEWT) has launched its website for Newtek Payment Systems (NPS), a cloud-based point-of-sale solution designed for small to medium-sized businesses. NPS, which Newtek acquired a 51% interest in, integrates payment processing, inventory, customer management, payroll services, and more. CEO Barry Sloane will host a webinar on December 21, 2020, to demonstrate NPS's functionalities. The service aims to compete with existing solutions like Square and Toast while offering unique branding opportunities for partners. More details can be found on the NPS website.