Core Insights - NewtekOne, Inc. expects to report deposits at Newtek Bank of $742 million as of September 30, 2024, reflecting an 11.7% sequential increase from $664 million at June 30, 2024, and a 43% increase from $519 million at December 31, 2023 [1] - Insured deposits are projected to represent approximately 75% of total deposits at the end of Q3 2024 [1] - Business core deposits are expected to reach $119 million, an increase of $37 million or 45% from the previous quarter [1][2] - Deposits from lending clients are anticipated to finish Q3 2024 at $78 million, a sequential increase of $30 million [1] Company Strategy and Operations - The company has shown consistent deposit growth from Q2 2024 to Q3 2024, attributed to strategic initiatives implemented since the appointment of the new COO of Digital Banking in November 2023 [2] - Newtek Bank has expanded its staff from 21 to 358 employees to enhance service delivery and operational efficiency [2] - The integration of new business processes and the development of software solutions are key components of the company's strategy to leverage existing customer relationships [2] - The launch of Newtek Zero-Fee Banking™ is expected to attract new clients by highlighting the advantages of banking with Newtek Bank compared to competitors [2] Business Solutions Offered - NewtekOne provides a comprehensive range of business and financial solutions, including banking, business lending, SBA lending solutions, electronic payment processing, technology solutions, eCommerce, accounts receivable financing, insurance solutions, web services, and payroll and benefits solutions [3][4]

Core Insights - NewtekOne, Inc. reported a record $371.8 million in loans closed for Q3 2024, marking a 17.3% increase from $316.7 million in Q2 2024 [1] - The company achieved SBA 7(a) loan closings of $245.3 million in Q3 2024, a 6.6% increase from Q2 2024 and a 12.5% increase year-over-year [1] - NewtekOne forecasts total SBA 7(a) loan closings of $935.0 million for 2024, representing a 14.7% increase over 2023 [1] Company Performance - The company has originated over $1 billion in business loans year-to-date through September 30, 2024, with a sequential loan growth of 17.3% in Q3 2024 [2] - NewtekOne's proprietary NewTracker® system has a funding acceptance rate of less than 2%, indicating a focus on high-quality credit opportunities [2] - The company anticipates selling between $650 to $700 million of government-guaranteed portions of SBA 7(a) loans in 2024, which will be removed from its balance sheet [2] Business Strategy - NewtekOne integrates its loan acquisition and processing methods into a regulated bank holding company, enhancing its operational capabilities [2] - The company has maintained a charge-off rate of zero for its $500 million 504 loan portfolio since 2019, demonstrating strong credit quality [2] - NewtekOne's alternative loan program has funded approximately $380 million since 2019, with only $3.0 million written off, showcasing effective risk management [2] Services Offered - NewtekOne provides a wide range of business and financial solutions, including banking, business lending, SBA lending solutions, electronic payment processing, and technology solutions [3][4] - The company aims to support independent business owners across all 50 states with cost-efficient products and services [3]

Core Viewpoint - NewtekOne, Inc. is set to report its third quarter 2024 financial results on November 6, 2024, with a conference call scheduled for November 7, 2024, where the company will also provide 2025 business projections [1][3]. Company Overview - NewtekOne, Inc. is a financial holding company that offers a variety of business and financial solutions to independent business owners across all 50 states since 1999 [4]. - The company operates under the Newtek brand and provides cost-efficient products and services aimed at helping businesses grow sales, control expenses, and reduce risk [4]. Business Solutions - NewtekOne's offerings include banking services through Newtek Bank, business lending, SBA lending solutions, electronic payment processing, technology solutions (such as cloud computing and IT consulting), eCommerce, accounts receivable and inventory financing, insurance solutions, web services, and payroll and benefits solutions [5]. Management Commentary - Barry Sloane, CEO, expressed confidence in the company's performance despite a challenging equity market, highlighting a strong demand from small- and medium-sized businesses for NewtekOne's solutions [3]. - The company remains comfortable with its previously issued 2024 annual EPS guidance and plans to discuss its growth trajectory during the upcoming earnings call [3].

Group 1 - The article discusses the preferred stock and baby bond market activity, providing both bottom-up insights on individual news and events, and top-down analysis of the broader market [1] - It highlights the availability of Interactive Investor Tools for navigating various markets including BDC, CEF, OEF, preferred, and baby bonds [1] Group 2 - A projected revenue backlog for American Shared is presented, showing a significant increase from $106 million on 12/31/22 to a projected $250 million by 5/10/24 [2] - The chart includes projected revenues for the next ten years for retail centers and lease agreements until their expiration dates [2]

Core Viewpoint - NewtekOne, Inc. has successfully closed a public offering of $75 million in 8.625% Fixed Rate Senior Notes due 2029, with proceeds aimed at funding investments, repaying existing debt, and general corporate purposes [1][2][3] Group 1: Offering Details - The offering consists of $75 million aggregate principal amount of 8.625% Fixed Rate Senior Notes, maturing on October 15, 2029, with a redemption option starting October 15, 2026 [1] - Interest on the Notes will be paid quarterly, beginning January 15, 2025 [1] - The Notes are expected to be listed on the Nasdaq Global Market under the symbol "NEWTH" within thirty days [2] Group 2: Use of Proceeds - Proceeds from the offering will be utilized for general working capital, repayment of existing debt, and funding investments, particularly in the alternative loan program business [3] - The company anticipates retiring approximately $22 million of securitization debt, which will enhance cash flow and liquidity [3] Group 3: Financial Performance and Guidance - The company has confirmed its 2024 annual earnings per share guidance of $1.85 to $2.05 per basic and diluted common share [3] - As of August 31, 2024, the 2018-1 and 2019-1 SBA 7(a) securitizations contain approximately $68 million of accruing loans and $15 million of non-accruing loans at fair value [3] Group 4: Company Overview - NewtekOne, Inc. is a financial holding company providing a range of business and financial solutions to independent business owners across all 50 states [4] - The company's services include banking, business lending, electronic payment processing, technology solutions, eCommerce, and more [5]

Core Viewpoint - NewtekOne, Inc. (NASDAQ: NEWT) is currently rated as a "Hold" by analysts, with concerns about its leverage and performance in potential downturns, despite its low valuation and attractive dividend yield [1][3][15]. Financial Performance - For Q2 2024, NewtekOne reported earnings per share (EPS) of $0.43 and reaffirmed its full-year EPS guidance of $1.85 to $2.05 [7][9]. - The company experienced a 17% growth in business deposits, reaching $136 million, and a 13% increase in total loan growth [9]. - The net interest margin for Q2 2024 was 4.83%, showing a slight increase from the previous quarter and a significant rise of 51.9% compared to the same period last year [9]. Market Comparison - NewtekOne's total return of 2.48% significantly lags behind the SPDR S&P Regional Banking ETF (KRE), which delivered a total return of 13.57% [6][5]. - Despite the overall positive performance of regional banks, NewtekOne has struggled to keep pace, raising questions about its operational efficiency [5]. Investment Considerations - The stock is trading at less than 6 times estimated earnings, with a dividend yield approaching 6.5%, making it appear cheap relative to its earnings [3][15]. - Analysts express skepticism about the company's ability to manage potential losses during a recession, given the lack of historical performance data in such conditions [15][16]. Business Model Insights - NewtekOne's business model emphasizes non-interest income, which provides some insulation from credit and interest rate fluctuations [13]. - The company has a strong track record in lending to middle-market and small- to medium-sized businesses, leveraging 20 years of experience to navigate economic downturns [16]. Bond Market Activity - NewtekOne has several baby bonds trading on exchanges, which are viewed as safer investments compared to common stock, offering higher yields [17][19]. - The market remains cautious about NewtekOne's prospects, as indicated by the higher yields on its bonds compared to its common shares [18][19].

Core Viewpoint - NewtekOne, Inc. reaffirms its 2024 annual earnings per share (EPS) forecast in the range of $1.85 to $2.05 per basic and diluted common share, despite challenges in the equity market for financial businesses [1][2]. Company Overview - NewtekOne, Inc. is a financial holding company that provides a variety of business and financial solutions to independent business owners across all 50 states since 1999 [3]. - The company operates under the Newtek brand and aims to help businesses grow sales, control expenses, and reduce risks through state-of-the-art, cost-efficient products and services [3]. Business Solutions Offered - NewtekOne and its subsidiaries offer a comprehensive range of solutions including: - Banking services through Newtek Bank, N.A. - Business and SBA Lending Solutions - Electronic Payment Processing - Technology Solutions such as Cloud Computing and IT Consulting - eCommerce and Accounts Receivable Financing - Insurance Solutions, Web Services, and Payroll and Benefits Solutions [4]. Management Insights - Barry Sloane, the Chairman and CEO, expressed confidence in the management team's ability to meet business goals and satisfy client needs, highlighting a strong demand from the small- and medium-sized business (SMB) community for their services [2]. - The company plans to provide its 2025 business projections during the third quarter 2024 earnings conference call, indicating a focus on illustrating the growth trajectory of its business model [2].

Core Insights - NewtekOne, Inc. has appointed Andrew Kaplan as Chief Strategy Officer, effective September 3, 2024, bringing over 35 years of experience in banking and financial services [1][2] Company Overview - NewtekOne, Inc. is a financial holding company that provides a wide range of business and financial solutions to independent business owners across all 50 states since 1999 [5] - The company offers services including banking, business lending, electronic payment processing, technology solutions, eCommerce, insurance solutions, and payroll and benefits solutions [6] Leadership and Strategy - Andrew Kaplan previously served as Chief Digital Officer at Flagstar Bank, where he significantly increased deposits and accounts through digital transformation [2] - Kaplan's expertise in digital banking and product development is expected to enhance NewtekOne's growth initiatives and client offerings [4] - The CEO, Barry Sloane, emphasized Kaplan's unique ability to innovate and develop banking services that focus on client experience and value proposition [4] Future Outlook - Kaplan expressed enthusiasm about leveraging NewtekOne's comprehensive offerings to drive growth and enhance client success, aiming to solidify the company's leadership position in the market [4]

BOCA RATON, Fla., Aug. 28, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (NASDAQ: NEWT), announced today that NewtekOne's CEO and President, Barry Sloane, and CFO, M. Scott Price, will attend, and hold one-on-one and group investor meetings at the Raymond James 2024 U.S. Banking and Banking on Tech Conference September 4-5, 2024 at the Marriot Marquis Chicago. To schedule a meeting, please contact your Raymond James representative, or Jayne Cavuoto, Director of Investor Relations at NewtekOne, at ...

Financial Performance Highlights - Newtek Bank's net interest margin was 483% for the three months ended June 30, 2024, an increase of 02% over 482% for the three months ended March 31, 2024, and an increase of 519% over 318% for the three months ended June 30, 2023[3] - Newtek Bank's efficiency ratio declined to 42% for the second quarter 2024[3] - NewtekOne's second quarter 2024 earnings per share was $043 per basic and diluted common share[4] - NewtekOne is reconfirming FY 2024 full year EPS guidance of $185 to $205 per basic and diluted common share[4] - NewtekOne's net income was $109 million for the three months ended June 30, 2024, a 132% increase on a per share basis, compared to $97 million for the three months ended March 31, 2024, and a 593% increase on a per share basis, compared to $70 million for the three months ended June 30, 2023[19] - NewtekOne's net interest income was $91 million for the three months ended June 30, 2024, an increase of 22% over $89 million for the three months ended March 31, 2024, and an increase of 596% over $57 million for the three months ended June 30, 2023[19] - NewtekOne's total assets were $16 billion at June 30, 2024, an increase of 143% from $14 billion at December 31, 2023[19] Loan and Deposit Growth - Newtek Bank's business deposits grew by 17% to $136 million in second quarter 2024 from $116 million in the first quarter 2024[3] - Newtek Bank's second quarter 2024 quarterly deposit growth was approximately 17%[4] - Newtek Bank's second quarter 2024 total loan growth was 13%[4] - NewtekOne forecasts $9350 million in total SBA 7(a) loan fundings for 2024, which would represent a 147% increase over loan fundings in 2023[61] Alternative Loan Program (ALP) - NewtekOne's joint venture closed a $15432 million ALP loan backed securitization on July 23, 2024[13] - The securitization was backed by $19052 million of collateral, consisting of $15977 million of Company originated ALP loans and a $3075 million prefunding account[13]