Welcome to our dedicated page for NewtekOne news (Ticker: NEWT), a resource for investors and traders seeking the latest updates and insights on NewtekOne stock.
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) 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.
NewtekOne's subsidiary, Newtek Bank, reported significant growth reaching $1.03 billion in total deposits as of December 31, 2024, marking a 97% increase year-over-year. The bank has grown its deposits by $884 million since its acquisition in January 2023.
Key metrics include: 78% insured deposits, core business deposits of $216 million (96% increase), and 950 new business checking accounts added in Q4 2024. The bank expanded from 1,400 to approximately 15,000 bank accounts over two years.
The deposit composition consists of 28% commercial deposits (including 3% brokered CDs) and 72% consumer deposits. The bank maintains an efficiency ratio below 40% and operates through a digital account opening process with 24/7/365 U.S.-based video representative support.
NewtekOne (NASDAQ: NEWT) and Paltalk (NASDAQ: PALT) have scheduled a conference call on January 2, 2025, to discuss Paltalk's acquisition of Newtek Technology Solutions (NTS). The deal, set to close on January 2, 2025, involves Paltalk paying $4 million in cash and issuing 4 million shares of newly created non-voting preferred stock to NewtekOne.
The agreement includes a potential earn-out of up to $5 million based on 2025-2026 Adjusted EBITDA performance. NTS currently manages IT services for approximately 17,000 customers. Post-acquisition, all 47 NTS team members will be retained by Paltalk, which plans to rename itself to Intelligent Protection Management Corp with a new ticker 'IPM'. NewtekOne will maintain its IT services through NTS and continue referring technology solutions opportunities to Paltalk.
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 January 13, 2025, to shareholders who are on record as of December 31, 2024. The company notes that future dividend amounts and timing remain subject to the Board of Directors' discretion.
NewtekOne (NASDAQ: NEWT) and Apiture have been awarded Most Effective Bank-FinTech Partnership at the IBSi Global FinTech Innovation Awards 2024. Newtek Bank, launched in 2023 as a digital-only federally chartered bank, has achieved significant growth using Apiture's digital banking platform. The bank's deposits grew from $140 million to $928 million through November 30, 2024, representing a 563% increase. The bank has opened and manages over 14,000 distinct accounts.
The partnership integrated digital banking capabilities into The Newtek Advantage™ platform, offering business customers access to payroll, payment processing, insurance, business lending, and other solutions in a single online portal. This integration was achieved without using brokers, branches, or business development officers.
NewtekOne (NASDAQ: NEWT) has reaffirmed its forecast to originate approximately $1.4 billion in business loans in 2024 across various loan products. The company projects $1.9 billion in business loans for 2025, representing a 36% increase.
The loan portfolio includes SBA 7(a), SBA 504, alternative loan program, CRE conforming, and C&I conforming loans. Most growth in 2025 is expected from alternative loans, CRE conforming loans, C&I conforming loans, and SBA 504 loans. The company maintains its EPS forecast of $1.85-$2.05 for 2024 and $2.00-$2.25 for 2025.
NewtekOne's subsidiary, Newtek Bank, has launched Zero-Fee Business Banking™, offering commercial clients depository accounts without any hidden fees or costs. The program eliminates charges for ACH, wires, monthly service, maintenance, overdrafts, and insufficient funds, with no minimum balance requirements. The bank aims to provide higher interest rates compared to national averages on commercial checking and savings accounts. Customers can verify potential savings using the newly launched Newtek Zero-Fee Calculator™ on their website.
NewtekOne (NASDAQ: NEWT) CEO Barry Sloane was interviewed at the LD Micro Main Event XVII Investor Conference by Sequire CEO Chris Miglino. The 13-minute interview covered NewtekOne's history and its current role in serving approximately 30 million independent business owners across the United States. Sloane discussed the company's two decades of operating experience and its strategic position as a bank holding company with a national charter, highlighting potential for continued growth and market share expansion.
NewtekOne (NEWT) reported Q3 2024 earnings of $0.45 per share, up 4.7% from both Q2 2024 and Q3 2023. Net interest income reached $11.0 million, showing a 20.9% increase from Q2 2024. Total assets grew 21.4% to $1.7 billion, while loans held for investment increased 13.3% to $913.0 million. The company's Payments segment reported pretax income of $5.3 million, up 32.5% year-over-year. Newtek Bank saw deposits grow 43.7% to $745.7 million since December 2023. The company maintains its 2024 EPS guidance of $1.85-$2.05 and forecasts 2025 EPS of $2.00-$2.25.
NewtekOne (NASDAQ: NEWT) has appointed Ron Lay as Chief Technology Officer for both NewtekOne and Newtek Bank. Lay brings 20 years of experience in technology, digital strategy, and risk compliance within banking and financial services. His previous roles include Managing Director at Investia Software Solutions and Global Head of Wholesale IT Digital at HSBC, where he led a team of 3,500 people managing systems processing over $18 trillion in annual payments. Earlier, he held senior positions at JP Morgan Chase, Deutsche Bank, Lloyds Banking Group, and Charles Schwab.
FAQ
What is the current stock price of NewtekOne (NEWT)?
What is the market cap of NewtekOne (NEWT)?
What core services does NewtekOne, Inc. offer?
How does NewtekOne differentiate itself from traditional financial institutions?
What are the primary business segments of NewtekOne?
How does the patented NewTracker system benefit clients?
What regulatory standards does NewtekOne adhere to?
How does NewtekOne provide value to small- and medium-sized businesses?
What is the significance of the Newtek Advantage platform?
How does NewtekOne manage risk within its lending operations?
