Core Viewpoint - NewtekOne, Inc. reported strong financial results for the second quarter of 2025, showcasing significant year-over-year growth in earnings, revenue, and key financial metrics, while also emphasizing its digital banking strategy and focus on independent business owners [1][7][9]. Financial Highlights for 2Q25 - Basic and diluted earnings per share (EPS) were $0.53 and $0.52, respectively, reflecting year-over-year increases of 23% and 21% [7]. - Total revenue for 2Q25 was $70.2 million, up 15% from $61.1 million in 2Q24 [7]. - Net income before taxes was approximately $18.8 million, a 27% increase from $14.8 million in 2Q24 [7]. - Pre-provision net revenue (PPNR) for 2Q25 was approximately $27.9 million, an increase of 35.5% from $20.6 million in 2Q24 [7]. - The efficiency ratio improved to 60.3%, down from 66.3% in 2Q24 [7]. - Return on average assets (ROAA) was 2.50%, while return on average equity (ROAE) was 17.4% [7]. Lending and Other Selected Highlights for 2Q25 - SBA 7(a) loan originations were approximately $205.6 million, compared to $226.5 million in 2Q24 [8]. - Alternative Loan Program (ALP) loan originations totaled $78.3 million for 2Q25 [8]. - The company completed a $184 million securitization backed by $216 million of ALP loans in April 2025 [8]. - Commercial deposits at Newtek Bank increased by $50 million, or 19% quarter-over-quarter [8]. - Insured deposits comprised 78% of total deposits [8]. Post 2Q25 Highlights - On July 21, 2025, the company paid a quarterly cash dividend of $0.19 per share on its outstanding common shares [6]. - The company expects to execute another ALP securitization in the fourth quarter of 2025 [9]. Strategic Focus and Future Outlook - The company aims to operate its bank without traditional banking structures, focusing on digital solutions for independent business owners [9]. - The growth in business deposits and the digital strategy contributed to a decline in the cost of deposits and an expansion in net interest margin [9]. - The company anticipates continued growth beyond 2025, supported by tax incentives for independent business owners [9].

Core Viewpoint - NewtekOne, Inc. has announced significant management changes, including the appointment of Peter Downs as President of Newtek Bank and Frank M. DeMaria as Chief Financial Officer, to support the company's growth strategy and enhance its technology-enabled banking services [1][2]. Management Changes - Peter Downs has been appointed as President of Newtek Bank, N.A. [1] - Frank M. DeMaria has been named Chief Financial Officer of NewtekOne, while Scott Price continues as CFO of Newtek Bank [1] - Thomas Soucy has been promoted to Chief Credit Officer of the Bank, and Nicholas Leger has been appointed CFO of several non-bank subsidiaries [2] Company Performance - NewtekOne acquired National Bank of New York City on January 6, 2023, and has successfully transformed it into a technology-enabled digital bank with a national presence [2] - The Bank reported a 42% efficiency ratio, 6% return on assets, and over 40% return on tangible common equity for 2024 [2] Strategic Focus - The company emphasizes the importance of technology in providing financial solutions to independent business owners, utilizing in-house developed applications such as The Newtek Advantage and NewTracker [2] - NewtekOne aims to continue its growth trajectory by embracing technology and enhancing its service offerings [2] Business Solutions 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]