Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 331

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 331
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 for the three months ended September 30, 2025 compared to none in the prior period.

Non-Interest Expense

Three Months Ended September 30,2025/2024 Increase/(Decrease)2025September 30, 2024AmountPercentSalaries and employee benefits expense$19,973 $19,149 $824 4.3 %Technology services expense— 1,796 (1,796)(100.0)Electronic payment processing expense4,429 4,438 (9)(0.2)Professional services expense3,793 3,929 (136)(3.5)Other loan origination and maintenance expense6,764 4,132 2,632 63.7 Depreciation and amortization129 517 (388)(75.0)Loss on extinguishment of debt179 — 179 100.0 Other general and administrative costs6,892 4,886 2,006 41.1 Total noninterest expense$42,159 $38,847 $3,312 8.5 %

Technology Services Expenses

The $1.8 million decrease in technology services expenses for the three months ended September 30, 2025 corresponded with the NTS Sale. Refer to NOTE 4—INVESTMENTS: Intelligent Protection Management Corp.

Other Loan Origination and Maintenance Expense

Other loan origination and maintenance expenses during the three months ended September 30, 2025, was $6.8 million compared to $4.1 million for the three months ended September 30, 2024. The increase was due to the increase in loans originated during the period.

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 results in less amortization in 2025 as 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. 

Other General and Administrative Costs

The increase in other general and administrative costs of $2.0 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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