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Newtek Business Services Corp. to Provide Update on its Acquisition of National Bank of New York City on Wednesday, March 2, 2022 at 8:30 am ET

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Newtek Business Services Corp (NASDAQ: NEWT) announced a conference call on March 2, 2022, at 8:30 am ET. CEO Barry Sloane will discuss the pending acquisition of the National Bank of New York City, providing revised illustrations on the matter. The call will be accessible via telephone and a live webcast will be available on the company’s website. Newtek aims to deliver cost-efficient solutions to the SMB market and has been operational since 1999, focusing on business lending, technology solutions, and various financial services.

Positive
  • Pending acquisition of National Bank of New York City may enhance market presence.
  • Conference call indicates transparency and investor engagement.
Negative
  • Pending acquisition may face regulatory scrutiny and integration challenges.

BOCA RATON, Fla., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Barry Sloane, Chief Executive Officer will host a conference call with a corresponding presentation on Wednesday, March 2, 2022, at 8:30 am ET to provide an update on the pending acquisition of the National Bank of New York City, with revised illustrations. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

A live webcast of the call and the corresponding presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s website at http://investor.newtekbusinessservices.com/events-and-presentations. The presentation will be available on Newtek’s website beginning at 8:00 am ET the day of the call. A replay of the webcast with the corresponding presentation will be available on Newtek’s website shortly following the live presentation and will be available for a period of 90 days.

About Newtek Business Services Corp.

Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.

Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Newtek® and Your Business Solutions Company®, are registered trademarks of Newtek Business Services Corp.

Note Regarding Forward Looking Statements

This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov/.   Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.

SOURCE: Newtek Business Services Corp.

Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@newtekone.com


FAQ

What is the purpose of Newtek's acquisition of the National Bank of New York City?

The acquisition aims to enhance Newtek's market presence and service offerings in the SMB sector.

When will Newtek discuss the acquisition details?

Newtek will discuss the acquisition details during a conference call on March 2, 2022, at 8:30 am ET.

How can I listen to the conference call about Newtek's acquisition?

The conference call can be accessed by calling (877) 303-6993 or (760) 666-3611, and a live webcast will be available on Newtek’s website.

What services does Newtek provide to businesses?

Newtek offers a wide range of services including business lending, technology solutions, eCommerce, and financial services tailored for small and medium-sized businesses.

What are the potential risks associated with Newtek's acquisition?

Potential risks include regulatory scrutiny and challenges related to the integration of the National Bank of New York City.

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