Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 274

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 274
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2,050)10,984 8,934 Loans held for investment(2,673)3,237 564 Total interest income(5,304)16,124 10,820 Interest expense:Demand215 159 374 Savings and NOW(782)1,897 1,115 Money Market(37)232 195 Time(232)2,817 2,585 Borrowings24 1,503 1,527 Total interest expense(812)6,608 5,796 Net interest income$(4,492)$9,516 $5,024 

 Noninterest Income

Three months ended March 31,2025/2024 Increase/(Decrease)20252024AmountPercentDividend income$1,686 $386 $1,300 336.8 %Net loss on loan servicing assets(3,652)(1,735)(1,917)110.5 Servicing income5,525 5,357 168 3.1 Net gains on sales of loans12,961 20,292 (7,331)(36.1)Net gain on loans under the fair value option18,077 2,798 15,279 546.1 Technology and IT support income— 5,770 (5,770)(100.0)Electronic payment processing income10,609 10,987 (378)(3.4)Other noninterest income7,192 5,512 1,680 30.5   Total noninterest income$52,398 $49,367 $3,031 6.1 %

Dividend Income

For the three months ended March 31, 2025 and 2024, dividend income was dependent on the earnings of our joint ventures.

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Net Loss on Loan Servicing Assets

The Company accounts for servicing assets in accordance with ASC Topic 860-50 - Transfers and Servicing - Servicing Assets and Liabilities. The Company earns servicing fees from the guaranteed portions of SBA 7(a) loans it originates and sells, from the SBA 7(a) loan securitizations sponsored by NSBF, and from servicing the ALP portfolios in securitizations sponsored by NCL JV and TSO JV. Servicing assets for loans originated by the Company’s nonbank subsidiaries are measured at FV at each reporting date and the