Company: NEWTP
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001587987-25-000050
Chunk: 14

Company: NewtekOne, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 14
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 goodwill and intangible assets for the Payments segment and NBNYC acquisition relates to amortization of intangible assets during the year ended December 31, 2024. 

77

Settlement Receivable

Settlement receivables were $52.5 million as of December 31, 2024, a decrease of $9.8 million compared to December 31, 2023. The settlement receivable arises from the guaranteed portions of SBA 7(a) loans that were traded in the period but did not settle during the current period end and the cash was not received from the purchasing broker during the current period; the amount varies depending on loan origination volume and timing of sales at quarter end. 

LIABILITIES

Total liabilities at December 31, 2024, were $1.8 billion, an increase of $583.2 million, or 49.4%, compared to total liabilities of $1.2 billion at December 31, 2023. 

Deposits

Total deposits were $973.1 million at December 31, 2024, consisting of $11.1 million in non-interest bearing deposits and $961.9 million in interest bearing deposits, a $508.6 million increase from the balance as of December 31, 2023. As of December 31, 2024 and 2023, insured deposits represent 80.3% and 76.3%, respectively. Increases in deposits were primarily driven by deposit gathering efforts in Consumer High Yield Savings accounts and six-month Certificates of Deposit to fund future balance sheet growth and increase liquidity levels at Newtek Bank.

Borrowings

Borrowings OutstandingDecember 31, 2024December 31, 2023ChangeBank Borrowings1:NMS Webster Note$32,688 $36,628 $(3,940)SPV I Capital One Facility21,192 16,080 5,112 SPV II Deutsche Bank Facility54,036 6,799 47,237 SPV III One Florida Bank Facility23,011 257 22,754 FHLB Advances215,330 23,184 (7,854)Total Lines of Credit146,257 82,948 63,309 Parent Company Notes1:2024 Notes3 (5.75%)— 38,124 (38,124)2025 Notes (5.00%)29,913 29,563 350 2025