Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 261

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 261
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 were salaries and benefits, interest expense including interest on deposits, electronic payment processing expense, loan origination and servicing expenses, and other general and administrative costs, such as professional fees, marketing, referral fees, servicing costs and rent.

57

Discussion and Analysis of Financial Condition

March 31, 2025 vs. December 31, 2024

ASSETS

Total assets at March 31, 2025 were $2.1 billion, an increase of $76.8 million, or 3.7%, compared to total assets of $2.1 billion at December 31, 2024. As of December 31, 2024, the Company held the assets and liabilities of NTS for sale. Refer to NOTE 1—DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION: Sale of NTS.

Loans

March 31, 2025December 31, 2024ChangeLoans held for sale, at fair value$547,958 $372,286 $175,672 Loans held for sale, at LCM35,849 58,803 (22,954)Loans held for investment, at fair value346,794 369,746 (22,952)Loans held for investment, at amortized cost, net of deferred fees and costs711,166 621,651 89,515 Allowance for credit losses(38,649)(30,233)(8,416)Loans held for investment, at amortized cost, net672,517 591,418 81,099 Total Loans$1,603,118 $1,392,253 $210,865 

Loans held for sale

Loans HFS, at fair value increased $175.7 million during the three months ended March 31, 2025. The overall increase was primarily the result of holding guaranteed portions of SBA 7(a) loans for longer periods of time as well as new loan originations during the first quarter of 2025, in the amount of $82.0 million for ALP loans and $93.7 million in SBA loans.

March 31, 2025December 31, 2024ChangeSBA 504 First Lien$148,929 $128,255 $20,674 SBA 504 Second Lien21,274 26,678 (5,404)SBA 7(a)64,976