Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 68

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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uted earnings per share:Net income, for diluted earnings per share$17,429 $11,534 $39,699 $31,329 Add: Preferred dividends on dilutive Series A convertible preferred stock¹— 400 — — Net income, for diluted earnings per share$17,429 $11,934 $39,699 31,329 Total weighted-average basic shares outstanding25,600 25,425 25,310 24,773 Add effect of dilutive restricted stock awards²443 213 458 151 Add effect of dilutive Series A convertible preferred stock³— 951 — — Total weighted-average diluted shares outstanding426,043 26,589 25,768 24,924 Diluted earnings per share$0.67 $0.45 $1.54 $1.26 Anti-dilutive warrants, restricted stock awards, and Series A convertible preferred stock 48 48 48 998 1    For periods presented other than the three months ended September 30, 2024, the Series A convertible preferred stock was anti-dilutive and, therefore, the preferred dividends have not been added back to the numerator of Net income, for diluted earnings per share.2    Incremental diluted shares from restricted stock awards under the treasury stock method. 3    Incremental diluted shares from Series A convertible preferred stock under the treasury stock method. The dilutive effect on common shares under the if-converted method of the Series A convertible preferred stock have been added back to the denominator in calculating diluted earnings per share for the three months ended September 30, 2024.

4    For the three and nine months ended September 30, 2025 and September 30, 2024, the warrants were not included in the diluted share count because the results would have been anti-dilutive under the if-converted method. 

NOTE 16—BENEFIT PLANS:Defined Contribution PlanThe Company’s employees participate in a defined contribution 401(k) plan (the “Plan”) adopted in 2004 which covers substantially all employees based on eligibility. The Plan is designed to encourage savings on the part of eligible employees and qualifies under Section 401(k) of the Code. Under the Plan, eligible employees may elect to have a portion of their pay, including overtime and bonuses, reduced each pay period, as pre-tax contributions up to the maximum