Company: NEWTP
Filing Date: 2025-04-24
Form Type: DEFA14A
Source: 0001587987-25-000075
Chunk: 1

Company: NewtekOne, Inc.
Filing Date: 2025-04-24
Form: DEFA14A
Chunk 1
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 two years ago represents an important step in NewtekOne’s evolution, as Newtek Bank acts as a conduit between our clients and the other segments of NewtekOne: lending, payroll, payments and insurance.

Evidence of our execution includes:

• 2024 diluted earnings per share (EPS) of $1.96 vs. 2023 diluted EPS of $1.88 (2023 EPS included a tax benefit approximating $0.58/share). Adjusting for the 2023 tax benefit, diluted EPS increased 50% in 2024.

• Return on average assets (ROAA) of 3.2% in 2024.

• 2024 return on average tangible common equity (ROATCE) of 24.1%.

• 2024 efficiency ratio of 63.2%, an improvement over 71.9% for 2023.

• SBA 7(a) loan closings of $954 million in 2024, up 15% vs. 2023.

• 2024 alternative loan program (ALP) loan closings of $270 million compared to $83 million for 2023.

• $1.5 billion of total loan closings in 2024 vs. $1.1 billion in 2023.

• Deposit balances at Newtek Bank more than doubled in 2024, ending the year a fraction over $1 billion, compared to $519 million at the end of 2023.

• Business deposits ended 2024 at $216 million, which represents 96% growth over 2023.

• The number of deposit accounts has increased from 1,400 accounts when we acquired the bank in January 2023 to over 15,000 accounts.

• In 2024, Newtek Payments generated $16 million of pre-tax income, up 33% over 2023. Our payments business processed $5.3 billion of transactions in 2024.

• Tangible book value per common share grew 16% in 2024 to $9.39/share.

• In 2024, total assets climbed 44% to $2.1 billion from $1.4 billion at the end of 2023.

• Despite the healthy asset growth, the total risk-based capital ratio increased from 19.1% for 2023 to 19.7% for 2024, while the tier 1 capital ratio improved from 16.2% to 17.0%.

Relative to other