Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 267

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 267
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107 146,257 81,850 Parent Company Notes1:2025 Notes (5.00%)3— 29,913 (29,913)2026 Notes (5.50%)114,461 114,282 179 2027 Notes (8.125%)449,951 49,944 7 2028 Notes (8.00%)38,812 38,726 86 2029 Notes (8.50%)69,750 69,622 128 2029 Notes (8.625%)72,784 72,662 122 2030 Notes (8.375%)29,299 — 29,299 Total Parent Company Notes375,057 375,149 (92)Notes Payable - Securitization Trusts1170,827 186,635 (15,808)Total$773,991 $708,041 $65,950 

1     Net of deferred financing costs.

2     At March 31, 2025 and December 31, 2024, the carrying amount of Newtek Bank’s FHLB borrowings includes a $0.03 million and $0.04 million purchase accounting adjustment, respectively.

3    On March 31, 2025, the 2025 5.00% Notes matured.

4    Effective December 11, 2024, the Company entered into the Agreements with each of the holders of the 2025 8.125% Notes, pursuant to which the Company and the holders of the 2025 8.125% Notes agreed to exchange the 2025 8.125% Notes for the 2027 Notes.

Borrowings were $774.0 million at March 31, 2025, compared to $708.0 million at December 31, 2024. This increase was primarily due to a $29.3 million issuance of the 2030 Notes and $9.0 million of additional borrowings under the NMS Webster Note, as well as additional borrowings of $73.5 million, and $6.6 million on the SPV II and III facilities, respectively. These increases were partially offset by the maturity of $29.9 million of the 2025 5.00% Notes, $15.8 million reduction in the notes payable on securitization trusts, a $3.7 million repayment