Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 110

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 110
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Other loan origination and maintenance expenses during the nine months ended September 30, 2025, was $14.5 million compared to $9.4 million for the nine months ended September 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 the prior year.

Loss on Extinguishment of Debt

The increase in loss on extinguishment of debt period over period is attributable to the repayment in full of the NMS Webster Note on September 26, 2025. 

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Other General and Administrative Costs

The increase in other general and administrative costs of $6.9 million is primarily driven by higher technology-related costs following the sale of NTS in 2025. These costs were previously eliminated in consolidation but are now recognized as standalone expenses post-divestiture.

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Results of Segment Operations

The Company has four reportable segments Banking, Alternative Lending, NSBF, and Payments. A description of each segment and the methodologies used to measure financial performance is described in NOTE 18—SEGMENTS in the accompanying Notes to the Consolidated Financial Statements. Net income (loss) by operating segment is presented below:

Nine Months Ended2025/2024 Increase/(Decrease)September 30, 2025September 30, 2024AmountPercentBanking$30,866 $35,339 $(4,473)(13)%Alternative Lending60,445 34,147 26,298 77 %Technology1— (52)52 (100)%NSBF(13,612)(17,960)4,348 (24)%Payments12,556 14,173 (1,617)(11)%Corporate & Other20,732 6,048 14,684 243 %Eliminations(70,016)(39,166)(30,850)79 %Consolidated net income$40,971 $32,529 $8,442 26 %

1     As a result of commitments made to the Federal Reserve, the Company divested of NTS on January 2, 2025, and is no longer a reportable segment. See NOTE