Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 166

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 166
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 Refer to NOTE 3—SECURITIZATIONS AND VARIABLE INTEREST ENTITIES in the accompanying notes to the consolidated financial statements for additional information.

Settlement Receivable

Settlement receivables were $0.5 million as of September 30, 2025, a decrease of $52.0 million compared to December 31, 2024. The settlement receivable arises from the guaranteed portions of SBA 7(a) loans that were traded in the period but did not settle during the current period end and the cash was not received from the purchasing broker during the current period; the amount varies depending on loan origination volume and timing of sales at quarter end. The reduction in the settlement receivable was primarily the result of our holding guaranteed portions of SBA 7(a) loans for longer periods of time.

LIABILITIES

Total liabilities at September 30, 2025, were $2.0 billion, an increase of $248.8 million, or 14.1%, compared to total liabilities of $1.8 billion at December 31, 2024. 

Deposits

Total deposits were $1.2 billion at September 30, 2025, consisting of $21.8 million in non-interest bearing deposits and $1.2 billion in interest bearing deposits, a $0.2 billion increase from the balance as of December 31, 2024. As of September 30, 2025 and December 31, 2024, insured deposits represent 78.3% and 80.3%, respectively, of deposits. 

73

Borrowings

Borrowings OutstandingSeptember 30, 2025December 31, 2024ChangeBank Borrowings1:NMS Webster Note2$— $32,688 $(32,688)NMS Goldman Facility388,617 — 88,617 SPV I Capital One Facility23,155 21,192 1,963 SPV II Deutsche Bank Facility103,970 54,036 49,934 SPV III One Florida Bank Facility8,262 23,011 (14,749)FHLB Advances7,862 15,330 (7,468)Total Lines of Credit231,866 146,257 85,609 Parent Company Notes1:2025 Notes (5.00%)4— 29,913 (29,913)2026 Notes (5.50%)114,