Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 163

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 163
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3— 29,913 (29,913)2026 Notes (5.50%)114,641 114,282 359 2027 Notes (8.125%)449,952 49,944 8 2028 Notes (8.00%)38,900 38,726 174 2029 Notes (8.50%)69,878 69,622 256 2029 Notes (8.625%)72,906 72,662 244 2030 Notes (8.375%)29,319 — 29,319 Total Parent Company Notes375,596 375,149 447 Notes Payable - Securitization Trusts1157,439 186,635 (29,196)Total$657,327 $708,041 $(50,714)

1     Net of deferred financing costs.

2     At June 30, 2025 and December 31, 2024, the carrying amount of Newtek Bank’s FHLB borrowings includes a $0.02 million and $0.04 million purchase accounting adjustment, respectively.

3    On March 31, 2025, the 2025 5.00% Notes matured.

4    Effective December 11, 2024, the Company entered into the Amendment and Exchange Agreements with each of the holders of the 2025 8.125% Notes, pursuant to which the Company and the holders of the 2025 8.125% Notes agreed to exchange the 2025 8.125% Notes for the 2027 Notes.

Borrowings were $657.3 million at June 30, 2025, compared to $708.0 million at December 31, 2024. This decrease was primarily due to the maturity of $29.9 million of the 2025 5.00% Notes, $29.2 million reduction in the notes payable on securitization trusts, a $13.7 million and $16.3 million repayments of borrowings on the SPV I and SPV II facilities, respectively, and $7.0 million in maturities of FHLB advances. These decreases were partially offset by a $29.3 million issuance of the 2030 Notes and $8.0 million of additional borrowings under the NMS Webster Note, as well as additional borrowings of $7.0