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.
NewtekOne Inc (NASDAQ: NEWT) has announced the termination of three office space leases totaling 52,000 square feet, expected to generate annual cost savings of $2.0 million starting Q2 2025. This strategic move aligns with the company's shift to a remote workforce model and technology-enabled platform.
The company's digital transformation has shown significant progress since acquiring Newtek Bank in January 2023. Key achievements include:
- Growing loan portfolio from $167 million to $774 million as of December 31, 2024
- Digitally opening 15,000+ deposit accounts
- Expanding consolidated balance sheet to $2.1 billion by December 31, 2024
The company leverages its technology platform for deposit gathering, loan origination, and business solutions delivery through on-camera staff, eliminating the need for traditional branches and bankers.
NewtekOne (NASDAQ: NEWT) reports strong Q1 2025 performance with significant loan origination growth across multiple segments. The company originated 580 SBA 7(a) loans totaling $213 million, up from 489 loans in Q1 2024. Newtek Bank's loan portfolio showed remarkable growth with SBA 7(a) loans held for investment reaching $407 million, a 90% year-over-year increase.
Commercial Real Estate (CRE) and Commercial & Industrial (C&I) loans demonstrated robust growth, with CRE portfolio increasing 20% quarter-over-quarter to $231 million and C&I reaching $51 million. The company originated $68.5 million in Alternative Loan Program loans and projects $500 million in ALP originations for 2025.
Deposits grew to $1.06 billion, showing an 88% year-over-year increase, with business deposits up 8.9% and core consumer deposits growing 2.5% quarter-over-quarter. The company maintains its 2025 EPS guidance of $2.10-$2.50 per share.
NewtekOne (NASDAQ: NEWT) has scheduled its first quarter 2025 financial results announcement for Tuesday, May 6, 2025, after market close. The company will host a conference call on Wednesday, May 7, 2025, at 8:30 am ET to discuss the results.
The conference call will feature CEO Barry Sloane, CFO M. Scott Price, and Chief Accounting Officer Frank DeMaria. Interested participants must pre-register online to receive dial-in information and secure their position on the call. The earnings presentation will be accessible in the 'Event & Presentations' section of NewtekOne's Investor Relations website on May 6, 2025.
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 April 30, 2025, to shareholders of record as of April 15, 2025. The company notes that future dividend amounts and timing remain subject to the discretion of NewtekOne's Board of Directors.
NewtekOne (NASDAQ: NEWT) has successfully completed a private offering of $30.0 million in 8.375% notes due 2030. The offering was made to eleven institutional accredited investors, with net proceeds of approximately $29.250 million after expenses.
The company plans to use the proceeds to refinance existing debt, provide capital to Newtek Bank, and for general corporate purposes. Keefe, Bruyette & Woods and Raymond James acted as placement agents.
Additionally, Egan-Jones has upgraded NewtekOne's credit rating from BBB+ to A-, citing the company's healthy shareholders equity to asset ratio, strong tier 1 capital ratio, and improved efficiency ratio. The upgrade applies to all outstanding senior unsecured notes, including NEWTZ, NEWTI, NEWTG, and NEWTH.
NewtekOne (NASDAQ: NEWT) has appointed John O'Connor as Chief Revenue Officer of its payment processing subsidiary Newtek Merchant Solutions (NMS). O'Connor, formerly chief growth officer at Nationwide TFS and a 30-year Citigroup veteran, will focus on promoting NewtekOne's business solutions to NMS's merchant processing clients.
O'Connor will emphasize NMS's integration with Newtek Bank's zero-fee business banking services and higher interest rates through the Newtek Advantage portal. The platform processes over $5.5 billion in merchant payments volume and offers enhanced features including faster money transfers, transaction transparency, and unified management of refunds, chargebacks, ACH, and Fed wires.
The strategic hire aligns with NewtekOne's mission to serve the estimated 30+ million independent business owners in the United States, aiming to drive growth in business deposit accounts and average account balances.
NewtekOne (NASDAQ: NEWT) has announced the appointment of Vaibhav 'Vik' Mahajan as Chief Investment Officer of Newtek Bank. With 25 years of experience in investment banking and financial services, Mahajan will oversee the bank's loan sales execution, including SBA 504 loans and government-guaranteed portions of SBA 7(a) loans.
Mahajan's previous role was chief strategy officer and head of capital markets at iCreditWorks. He also led Financial Institutions Group investment banking at Deutsche Bank and Credit Suisse. He holds an MBA from the University of Rochester and a B.S. in Mechanical Engineering from the National Institute of Technology Karnataka.
In his new role, Mahajan will be responsible for optimizing the bank's loan portfolio and sourcing loan purchase and sale opportunities, leveraging his extensive capital markets contacts and experience in Depository and Specialty Finance investment banking.
NewtekOne (NASDAQ: NEWT) has appointed Bryce Rowe as Vice President of Investor Relations. Rowe brings 25 years of experience as an equity research analyst specializing in small-cap banks and business development companies (BDCs). He previously served as a senior equity research analyst at B. Riley Securities and holds a CFA designation since 2003.
In his new role, Rowe will manage all investor relations functions, focusing on creating awareness and understanding of NewtekOne among current and potential investors. He will represent the company at upcoming investor conferences, including the B. Riley Securities 25th Annual Institutional Investor Conference and the 37th Annual Roth Conference.
The appointment follows NewtekOne's conversion from a BDC to a financial holding company in early 2023. The company operates with a unique branchless, broker-less, and banker-less approach, achieving above-average profitability.
NewtekOne (NASDAQ: NEWT) reported strong financial results for FY2024, with net income of $50.9 million and EPS of $1.97 per basic share. The company raised its 2025 earnings forecast to $2.10-$2.50 per share.
Key highlights include:
- Total assets increased 50% to $2.1 billion
- Loans held for investment grew 23% to $991.4 million
- Net interest income rose 51.5% to $40.3 million
- Total deposits reached $1.04 billion, up 100.3% YoY
- SBA 7(a) loan closings increased 15.2% to $954.3 million
The company's Newtek Bank demonstrated strong performance with a Return on Tangible Common Equity of 48.8% and Return on Average Assets of 6.3% for 2024. The bank's efficiency ratio improved to 43.6%, showing operational effectiveness.
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.