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

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 to investments in VIEs is generally limited to the investment balance. Refer to NOTE 4—INVESTMENTS.

Reclassifications

Certain prior period amounts, which are normal and reoccurring in nature, to the extent comparable, have been reclassified to conform to the current period presentation. 

F-17

NOTE 2—SIGNIFICANT ACCOUNTING POLICIES:

A more detailed description of our accounting policies is included in the Company’s 2024 Form 10-K, which accounting policies remain significantly unchanged. There have been no other significant changes to our accounting policies, or the estimates made pursuant to those policies as described in our 2024 Form 10-K. 

Cash and due from banksThe Company considers all highly liquid instruments with maturities of three months or less when purchased to be cash equivalents. Invested cash is held exclusively at financial institutions of high credit quality. As of June 30, 2025, cash deposits in excess of insured amounts totaled $26.9 million. The Company has not experienced any losses with respect to cash balances in excess of insured amounts and management does not believe there was a significant concentration of risk with respect to cash balances as of June 30, 2025.

Restricted cashRestricted cash includes amounts due on SBA loan-related remittances to third parties, cash reserves established as part of agreements with the SBA, cash reserves associated with consolidated securitization transactions, and cash margin as collateral for derivative instruments. 

Interest bearing deposits in banksThe Company’s interest bearing deposits in banks reflects cash held at other financial institutions that earn interest. 

The following table provides a reconciliation of cash, restricted cash, and interest bearing deposits in banks as of June 30, 2025 and 2024 and December 31, 2024:June 30, 2025December 31, 2024June 30, 2024Cash and due from banks$10,124 $6,941 $36,909 Restricted cash23,152 28,226 36,832 Interest bearing deposits in banks180,013 346,207 132,597 Cash and restricted cash$213,289 $381,374 $206,338 June 30, 2025December 31, 2024June 30, 2024Cash held at Federal Reserve Bank1$179,670 $345,680 $132,328 Cash held at other financial institutions33