Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 158

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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, at fair value were $326.1 million at June 30, 2025 compared to $369.7 million at December 31, 2024. The balance consists primarily of SBA 7(a) loans as well as $6.2 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 June 30, 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 $146.2 million increase in loans HFI, at amortized cost is the result of an increase in originations for the six months ended June 30, 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 RatiosJune 30, 2025December 31, 2024At Amortized CostCurrent$699,196 91.3 %$575,444 92.8 %Past Due 30-89 Days and accruing20,507 2.7 %20,585 3.3 %Nonaccrual loans45,949 6.0 %24,341 3.9 %Total, at amortized cost$765,652 100.0 %$620,370 100.0 %Deferred fees and costs2,175 1,281 Total, at amortized cost, net of deferred fees and costs$767,827 $621,651 Allowance for credit losses$(42,625)5.6 %$(30,233)4.9 %At Fair ValueCurrent$230,743 70.8 %$251,616 68.1 %Past Due 30-89 Days and accruing24,616 7.5 %41,558 11.2 %Past Due 90 and more Days and accruing— — %9,268 2.5 %Nonaccrual loans70,754 21.7 %67,304 18.2 %