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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.
Track NewtekOne's latest earnings reports, partnership announcements, and technology initiatives through verified press releases. Our curated collection ensures timely access to material disclosures including SBA lending updates, payment processing innovations, and compliance-related communications.
Key updates across NewtekOne's core operations: banking service expansions, business loan program developments, payment technology enhancements, and strategic partnership announcements. Stay informed about regulatory filings and corporate governance updates that impact the company's market position.
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NewtekOne, Inc. (NASDAQ: NEWT) has successfully closed a $154,320,000 alternative business loan backed securitization through its joint venture, Newtek-TSO II Conventional Credit Partners, LP. The securitization, backed by $190,520,000 of collateral, includes $137,170,000 of Class A Notes and $17,150,000 of Class B Notes, rated 'A (sf)' and 'BBB (high) (sf)' respectively by Morningstar DBRS.
The Notes achieved an 81.0% advance rate with a combined weighted average yield of 6.724%. This marks NewtekOne's second term asset-backed securitization for alternative loan program (ALP) loans, which are non-conforming to SBA 7(a) loan requirements. The company expects the ALP to be a key driver of future earnings growth and profitability, with potential for 20% to 30% returns on equity.
NewtekOne will announce its second quarter 2024 financial results on August 5, 2024, after the market closes. This release will be followed by a conference call on August 6, 2024, at 8:30 am ET, led by CEO Barry Sloane and CFO M. Scott Price. Participants are advised to pre-register online to secure a spot for the conference call. The earnings presentation will be available on the company's website on the evening of August 5, 2024. A replay of the call will also be accessible on the website for 90 days.
NewtekOne announced a quarterly cash dividend of $0.19 per share, approved by the Board of Directors. The dividend will be paid on July 19, 2024, to shareholders recorded by July 9, 2024. The decision on dividend amounts and timing remains at the discretion of the Board. The announcement demonstrates the company's commitment to returning value to shareholders.
NewtekOne, a Nasdaq-listed company (symbol: NEWT), announced that CEO Barry Sloane and CFO M. Scott Price will attend the 25th Annual KBW Community Bank Investor Conference. The event will be held on July 30-31, 2024, at the Hilton New York Midtown. They will hold group investor meetings. For scheduling, contact KBW representatives or Jayne Cavuoto, Director of Investor Relations at NewtekOne.
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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