Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 23

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 23
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BA 7(a) loans as well as $6.7 million of loans that the Company owns 100% as a result of originating the loan and subsequently repurchasing the guaranteed portion from the SBA. As previously discussed, NSBF ceased originating loans during 2023, resulting in the decrease in the balance of loans held for investment from December 31, 2024 to March 31, 2025, primarily due to the principal payments of existing loans held by NSBF.

At Amortized Cost: Loans HFI, at amortized cost consist of loans originated at or purchased by Newtek Bank. The $89.5 million increase in loans HFI, at amortized cost is the result of an increase in originations for the three months ended March 31, 2025 over 2024.

Credit Quality: The following table presents an analysis of loans HFI with credit metrics, including a breakdown by days aged:

Credit Quality RatiosMarch 31, 2025December 31, 2024$%$%At Amortized CostCurrent$661,739 93.2 %$575,444 92.8 %Past Due 30-89 Days and accruing9,708 1.4 %20,585 3.3 %Nonaccrual loans38,125 5.4 %24,341 3.9 %Total, at amortized cost$709,572 100.0 %$620,370 100.0 %Deferred fees and costs1,594 1,281 Total, at amortized cost, net of deferred fees and costs$711,166 $621,651 Allowance for credit losses$(38,649)5.4 %$(30,233)4.9 %At Fair ValueCurrent$240,490 69.4 %$251,616 68.1 %Past Due 30-89 Days and accruing37,266 10.7 %41,558 11.2 %Past Due 90 and more Days and accruing— — %9,268 2.5 %Nonaccrual loans69,038 19.9 %67,304 18.2 %Total$346,794 100.0 %$369,746 100.0 %Past due and nonaccrual loans as % of Outstanding UPB$