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Overview of NewtekOne, Inc.
NewtekOne, Inc. (symbol: NEWT) is a multi-faceted financial holding company that blends traditional financial services with cutting-edge technology solutions. With a business model that integrates banking, lending, payment processing, and technology-driven service offerings, NewtekOne is engineered to serve independent business owners and small- to medium-sized businesses across the United States. Utilizing industry-specific tools and proprietary systems like its patented NewTracker software, the company delivers efficient, cost-effective processing and an integrated online dashboard that centralizes all financial and business solutions.
Core Business Segments
NewtekOne operates through four key reportable segments that form the backbone of its comprehensive service offering:
- Banking: Through its nationally chartered bank subsidiary, Newtek Bank, N.A., the company offers a spectrum of banking solutions with an emphasis on digital account opening, streamlined deposit processes, and a technology-enabled banking experience.
- Lending: With specialized programs including SBA lending, alternative loan programs, and conventional commercial loans, NewtekOne employs a disciplined yet innovative underwriting system designed to manage risk while optimizing returns.
- Payments: NewtekOne’s integrated electronic payment processing capabilities allow clients to access real-time transaction analytics and data management via the Newtek Advantage platform, enhancing operational visibility and efficiency.
- Technology Solutions: Focused on providing cloud computing, data backup, IT consulting, and web services, the company ensures that its clients are supported by state-of-the-art financial and technological resources.
Integrated Technology and Business Process
At the heart of NewtekOne’s operations is its innovative NewTracker system which epitomizes its commitment to leveraging technology for streamlined business operations. This system facilitates the rapid acquisition and processing of client data, ensuring that business owners can access expert advice in areas including Banking, Lending, Payroll, and Insurance—all through one simple, secure online dashboard. The use of such advanced technology underscores the company's unique value proposition and underpins its competitive differentiation in a crowded financial services market.
Market Position and Operational Excellence
NewtekOne has built a reputation as a reliable partner by offering a consolidated suite of business and financial services. This integration enables a frictionless customer experience where multiple services are interlinked and supported by transparent, regulated financial reporting. The emphasis on compliance with regulatory standards, including Sarbanes-Oxley and other industry-specific requirements, highlights its commitment to risk management and operational integrity. This efficient, technology-enabled model allows NewtekOne to maintain cost efficiency and fosters long-term relationships with its clients through continuous support and quality service delivery.
Expertise, Experience, and Trustworthiness
With decades of experience in financial services, NewtekOne demonstrates deep industry expertise by continuously refining its operational strategies to meet the evolving needs of independent business owners. The company’s ability to merge traditional banking with technological innovation builds a bridge between established financial practices and modern digital solutions, setting it apart from many of its competitors. The company's transparent business practices, robust financial architecture, and ongoing commitment to customer service contribute to its strong reputation and reliability.
Competitive Landscape and Strategic Differentiators
Unlike traditional bank holding companies that rely on branch-based operations and conventional methods for customer acquisition, NewtekOne’s model capitalizes on digital solutions and efficient risk management processes. The strategic integration of technology with financial services, exemplified by its patented NewTracker system and the unified Newtek Advantage dashboard, reinforces its standing in a competitive market by offering independent businesses a streamlined one-stop solution. Such differentiation supports both its operational growth and its ability to respond to the ever-changing dynamics of the financial industry.
Conclusion
Overall, NewtekOne, Inc. presents a comprehensive and adaptive range of financial and business solutions designed to empower independent business owners. By bridging robust, regulated financial services with a forward-thinking technological approach, the company offers a complete package that enhances operational efficiency and financial performance. Whether through its advanced digital banking platform or its diverse lending and payment processing capabilities, NewtekOne continues to solidify its status as a credible, knowledgeable, and innovative partner in the financial services sector.
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.
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.
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