Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 100

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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 a focus on its asset liability management policies, as well as closely monitoring, among other things, capital levels, to ensure compliance with regulatory guidelines and the OCC Operating Agreement.

75

Interest Income

Loans and fees on loans: The $23.9 million increase in interest income on the Company’s loan portfolio was attributable to increases in the average balances of loans HFI and HFS, which increased $200.5 million and $175.2 million, respectively, as well as the average outstanding accrual portfolio of loans held for investment increasing to $1.5 billion from $1.1 billion for the nine months ended September 30, 2025 and 2024, respectively. The increase in the average balance of loans HFS was attributable to originations of SBA 504 and ALP loans, and the increase in the average outstanding accrual loan portfolio resulted from the origination of new SBA 7(a) loans period over period.

Other interest earning assets: The $2.4 million increase in interest income from other interest earnings assets was attributable to higher interest rates on cash and due from banks, as well as interest bearing deposits in banks, including Newtek Bank earning interest on Federal Reserve Bank cash deposits.

Interest Expense

The following is a summary of interest expense by facility for the nine months ended September 30, 2025 and 2024: 

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeDeposits$30,081 $19,755 $10,326 Notes and securitizations:Notes payable - Securitization Trusts9,522 16,734 (7,212)2024 Notes1— 1,409 (1,409)2025 5.00% Notes2462 1,387 (925)2025 8.125% Notes3— 3,440 (3,440)2026 Notes5,282 5,282 — 2027 Notes33,068 — 3,068 2028 Notes42,661 2,661 — 2029 8.50% Notes54,965 2,224 2,741 2029 8.625% Notes65,217 290 4,927 2030 Notes71,415 — 1,415 Total notes and securitizations32,592 33,427 (835)Bank and FHLB Borrow