Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 12

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 purchases and redemptions of Federal Home Loan Bank stock and Federal Reserve Bank stock, contributions and return of capital on joint venture investments, as well as purchases, sales and maturities of available-for-sale securities for all comparative periods. These reclassifications did not result in any changes to previously reported net income, shareholder’s equity or net cash used in investing or financing activities.

F-18

NOTE 2—SIGNIFICANT ACCOUNTING POLICIES:

A more detailed description of our accounting policies is included in the Company’s 2024 Form 10-K, which accounting policies remain significantly unchanged. There have been no other significant changes to our accounting policies, or the estimates made pursuant to those policies as described in our 2024 Form 10-K. 

Cash and due from banksThe Company considers all highly liquid instruments with maturities of three months or less when purchased to be cash equivalents. Invested cash is held exclusively at financial institutions of high credit quality. As of September 30, 2025, cash deposits in excess of insured amounts totaled $29.0 million. The Company has not experienced any losses with respect to cash balances in excess of insured amounts and management does not believe there was a significant concentration of risk with respect to cash balances as of September 30, 2025.

Restricted cashRestricted cash includes amounts due on SBA loan-related remittances to third parties, cash reserves established as part of agreements with the SBA, cash reserves associated with consolidated securitization transactions, and cash margin as collateral for derivative instruments. 

Interest bearing deposits in banksThe Company’s interest bearing deposits in banks reflects cash held at other financial institutions that earn interest. 

The following table provides a reconciliation of cash, restricted cash, and interest bearing deposits in banks as of September 30, 2025 and 2024 and December 31, 2024:September 30, 2025December 31, 2024September 30, 2024Cash and due from banks$3,980 $6,941 $9,688 Restricted cash24,737 28,226 27,929 Interest bearing deposits in banks188,214 346,207 152,805 Cash and restricted cash$216,931 $381,374 $190,422 September 30, 2025December 31, 2024September 30, 2024Cash held at Federal Reserve Bank1$187,731 $345