Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 177

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 177
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 noninterest income for the six months ended June 30, 2025 resulting from marketing credit and debit card processing services, check approval services, processing equipment, and software, compared to $26.4 million during the six months ended June 30, 2024. The net income also included $15.5 million and $17.1 million of noninterest expense for the six months ended June 30, 2025 and 2024, respectively. 

Corporate and Other 

Corporate and Other represents operations not considered to be reportable segments and/or general operating expenses of the Company, and includes the parent company, other non-bank subsidiaries including NIA, PMT, and elimination adjustments to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP.

81

Results of Operations

Set forth below is a comparison of the results of operations for the three months ended June 30, 2025 and 2024.

Summary

For the three months ended June 30, 2025, the Company reported net income of $13.7 million, or $0.53 per basic and $0.52 per diluted share, compared to net income of $10.9 million, or $0.43 per basic and diluted share, for the three months ended June 30, 2024.

The net increase in net income was attributable to the following items:

Three Months Ended June 30,20252024ChangeNet interest income after provision for credit losses$4,806 $3,327 $1,479 Noninterest income56,275 52,020 4,255 Noninterest expense42,309 40,564 1,745 Net income before taxes18,772 14,783 3,989 Income tax expense5,069 3,838 1,231 Net income$13,703 $10,945 $2,758 

Net Interest Income

Three Months Ended June 30,20252024ChangeInterest incomeDebt securities available-for-sale$214 $374 $(160)Loans and fees on loans33,354 26,773 6,581 Other interest earning assets2,950 2,206 744 Total interest income36,518 29,353 7,165 Interest expenseDeposits9,357 6,865 2,492 Notes and securitizations10,908 11,118 (