Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 107

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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 in interest income on the Company’s loan portfolio was attributable to an increase in the average outstanding accrual portfolio of loans held for investment increasing to $1.4 billion from $1.1 billion for the three months ended June 30, 2025 and 2024, respectively. The increase in the average outstanding accrual loan portfolio resulted from the origination of new SBA 7(a) loans period over period.

Other interest earning assets: The $0.7 million increase in interest income from other interest earnings assets was attributable to a decrease in the average quarterly outstanding balance of interest-earning balances in other banks.

82

Interest Expense

The following is a summary of interest expense by facility for the three months ended June 30, 2025 and 2024: 

Three Months EndedJune 30, 2025June 30, 2024ChangeDeposits$9,357 $6,865 $2,492 Notes and securitizations:Notes payable - Securitization Trusts3,181 5,688 (2,507)2024 Notes1— 604 (604)2025 5.00% Notes2— 462 (462)2025 8.125% Notes3— 1,147 (1,147)2026 Notes1,761 1,761 — 2027 Notes31,023 — 1,023 2028 Notes4887 887 — 2029 8.50% Notes51,655 569 1,086 2029 8.625% Notes61,738 — 1,738 2030 Notes7663 — 663 Total notes and securitizations10,908 11,118 (210)Bank and FHLB Borrowings:Bank notes payable2,247 2,110 137 FHLB Advances83 134 (51)Total bank and FHLB borrowings2,330 2,244 86 Total interest expense$22,595 $20,227 $2,368 

1    On August 1, 2024, the 2024 Notes matured.

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

3    Effective December 11, 2024, the Company entered into the Amendment and Exchange Agreements with each of the holders