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NewtekOne, Inc. (NASDAQ: NEWT) delivers innovative financial solutions through its integrated banking, lending, and technology platforms. This news hub provides investors and business professionals with direct access to official announcements, strategic developments, and regulatory updates from the financial services innovator.
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NewtekOne announced it will webcast its Analyst and Investor Day on Thursday, June 13, 2024, starting at 9:00 AM EDT on its corporate website. To join, participants must register online at least 15 minutes before the event. A replay and presentation will be available on the website for 90 days after the live event. Interested in-person attendees can email Jayne Cavuoto for details.
NewtekOne announced the completion of a public offering of $71.875 million in 8.50% Fixed Rate Senior Notes due 2029. The company received $69,718,750 in proceeds before expenses. The Notes mature on June 1, 2029, and can be redeemed starting June 1, 2027, at 100% of the principal plus accrued interest. The interest rate is 8.50% annually, payable quarterly. The Notes trade on Nasdaq under 'NEWTG'. Proceeds will fund investments, repay debt, and support general corporate purposes.
Joint book-running managers included Keefe, Bruyette & Woods, Raymond James & Associates, and B. Riley Securities. Barry Sloane, President and CEO, highlighted the strong demand and increased capital raise. He noted the company's solid financial performance with a ROAA of 2.8% and ROTCE of 20.6% in Q1 2024.
NewtekOne, Inc. (Nasdaq: NEWT) will hold an Analyst and Investor Day on June 13, 2024, at its headquarters in Boca Raton, Florida, and virtually via Microsoft Teams. Interested individuals can register to attend the event.
NewtekOne, Inc. reported Q1 2024 financial results with net income of $9.7 million, EPS of $0.38 per basic and diluted share, a 7.2% increase in net interest income, and total assets of $1.5 billion. The company raised its 2024 annual earnings forecast to $1.85-$2.05 per share. Newtek Bank saw a sequential deposit increase of 8.9% and strong financial metrics like net interest margin of 4.80% and ROTCE of 37.9%. The company remains confident in its business model and growth prospects.
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