Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 294

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 294
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 impairment, if any, of LCM servicing rights in the consolidated statements of operations.

Expenses

For the quarterly period ended June 30, 2025, our primary operating expenses 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. 

67

Discussion and Analysis of Financial Condition

June 30, 2025 vs. December 31, 2024

ASSETS

Total assets at June 30, 2025 were $2.1 billion, an increase of $66.3 million, or 3.2%, 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 4—INVESTMENTS: Intelligent Protection Management Corp.

Loans

June 30, 2025December 31, 2024ChangeLoans held for sale, at fair value$514,609 $372,286 $142,323 Loans held for sale, at LCM32,291 58,803 (26,512)Loans held for investment, at fair value326,113 369,746 (43,633)Loans held for investment, at amortized cost, net of deferred fees and costs767,827 621,651 146,176 Allowance for credit losses(42,625)(30,233)(12,392)Loans held for investment, at amortized cost, net725,202 591,418 133,784 Total Loans$1,598,215 $1,392,253 $205,962 

Loans held for sale

Loans HFS, at fair value increased $142.3 million during the six months ended June 30, 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 2025, in the amount of $216.8 million in SBA loans, partially offset by a decrease of $74.5 million for ALP loans.

June 30, 2025December 31, 2024ChangeSBA 504 First Lien$143,658 $128,255