Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 262

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 262
---
 4,855 60,121 SBA 7(a) Partials118,311 — 18,311 Total SBA loans253,490 159,788 93,702 ALP294,468 212,498 81,970 Loans held for sale, at fair value$547,958 $372,286 $175,672 

1    Reclassified from Loans held for sale, at LCM.

Loans HFS, at LCM decreased $23.0 million during the same period. The overall decrease was primarily the result of new loan originations during 2025, net of sales.

March 31, 2025December 31, 2024ChangeSBA 504 First Lien$29,602 $36,783 $(7,181)SBA 504 Second Lien6,247 8,203 (1,956)SBA 7(a) Partials1— 13,817 (13,817)Loans HFS, at LCM$35,849 $58,803 $(22,954)

1    Reclassified to Loans held for sale, at fair value.

58

Loans held for investment

At Fair value: Loans HFI, at fair value were $346.8 million at March 31, 2025 compared to $369.7 million at December 31, 2024. The balance consists primarily of SBA 7(a) loans as well as $6.7 million of loans that the Company owns 100% as a result of originating the loan and subsequently repurchasing the guaranteed portion from the SBA. As previously discussed, NSBF ceased originating loans during 2023, resulting in the decrease in the balance of loans held for investment from December 31, 2024 to March 31, 2025, primarily due to the principal payments of existing loans held by NSBF.

At Amortized Cost: Loans HFI, at amortized cost consist of loans originated at or purchased by Newtek Bank. The $89.5 million increase in loans HFI, at amortized cost is the result of an increase in originations for the three months ended March 31, 2025 over 2024.

Credit Quality: The following table presents an analysis of loans HFI with credit metrics, including a breakdown by days aged:

Credit Quality RatiosMarch 31, 2025December