Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 312

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 312
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 2025 and 2024, respectively. Adding to the decrease was $(0.1) million of net unrealized gains on joint ventures and other non-control investments for the six months ended June 30, 2025 compared to none in the prior period.

Non-Interest Expense

Six months ended June 30,2025/2024 Increase/(Decrease)20252024AmountPercentSalaries and employee benefits expense$44,451 $41,296 $3,155 7.6 %Technology services expense— 6,828 (6,828)(100.0)Electronic payment processing expense8,875 10,539 (1,664)(15.8)Professional services expense7,739 7,308 431 5.9 Other loan origination and maintenance expense7,704 5,259 2,445 46.5 Depreciation and amortization420 1,053 (633)(60.1)Other general and administrative costs14,297 9,440 4,857 51.5 Total noninterest expense$83,486 $81,723 $1,763 2.2 %

Salaries and Employee Benefits Expense

The increase in salaries and employee benefits was primarily attributable to increased benefits costs, primarily bonus accruals, higher medical and other insurance costs.

Technology Services Expense 

The $6.8 million decrease in technology services expenses for the six months ended June 30, 2025 corresponded with the NTS Sale. Refer to NOTE 4—INVESTMENTS: Intelligent Protection Management Corp.

Professional Services Expense

The increase in professional services expense period over period is primarily attributable to costs associated with the NTS disposition that occurred on January 2, 2025. Refer to NOTE 4—INVESTMENTS: Intelligent Protection Management Corp.

Other Loan Origination and Maintenance Expense

Other loan origination and maintenance expenses during the six months ended June 30, 2025, was $7.7 million compared to $5.3 million for the six months ended June 30, 2024 due to a larger dollar volume and count of loan originations in 2025 compared to 2024. 

Depreciation and Amortization

The decrease in depreciation and amortization period over period is primarily attributable to the full amortization of intangible assets during the second half of 2024, which resulted in less amortization in 2025 compared to