NewtekOne, Inc. Announces that its Bank Subsidiary, Newtek Bank, N.A., has Declared a Dividend of $2.0 Million Payable to NewtekOne, Inc.

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Newtek Bank declares $2.0 million dividend to NewtekOne, indicating profitability and commitment to stakeholders.

BOCA RATON, Fla., Aug. 21, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), announced today that the Board of Directors of its bank subsidiary, Newtek Bank, N.A,. has declared a dividend of $2.0 million, payable to NewtekOne.

Barry Sloane, Chairman, President and Chief Executive Officer said, “We are pleased to report that the Board of Directors of Newtek Bank has declared a $2.0 million dividend, payable to NewtekOne, Newtek Bank’s publicly traded financial holding company. Newtek Bank’s swift ascension to profitability for the six months ended June 30, 2023, after being acquired by NewtekOne on January 6, 2023, is a testimony to the dedicated teams of executives and employees at NewtekOne and Newtek Bank. The dividend declaration is indicative of the commitment that we have to all of our stakeholders at both the Bank and financial-holding-company to consistently meet our goals, while simultaneously delivering the highest quality of business and financial solutions to our independent business owner customer base. We look forward to continuing to pay dividends, from both NewtekOne to shareholders, and from Newtek Bank to NewtekOne, based upon our expectations and hopeful performance.”

NewtekOne^®, Your Business Solutions Company^®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek^® brand to the small- and medium-sized business (“SMB”) market. Since 1999, NewtekOne 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.

NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), 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^®, NewtekOne^®, Newtek Bank, National Association™, Your Business Solutions Company^® and One Solution for All Your Business Needs^® are registered trademarks of NewtekOne, Inc.

Note Regarding Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. Factors that could cause NewtekOne, Inc’s actual results to differ materially from those described in the forward-looking statements can be found in NewtekOne, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission and are available on NewtekOne, Inc’s website (https://investor.newtekbusinessservices.com/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne, Inc. speak only as to the date they are made, and NewtekOne, Inc. does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

SOURCE: NewtekOne, Inc.

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