Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 151

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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,038 3.2 %67,304 3.2 %Other real estate owned5,852 0.3 %3,764 0.2 %  Total Nonperforming Assets$113,015 5.3 %$95,409 4.6 %

CRE exposure

The Company’s loan portfolio consists of loans to independent business owners (SMBs). The Company’s Loans HFI at amortized cost and Loans HFS at LCM include a total of $315.0 million of loans, including unfunded commitments, backed by CRE and considered non-owner occupied as of March 31, 2025. The average loan-to-value for this CRE portfolio was 57.9%. 

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The table below presents detail of the loans considered non-owner occupied CRE that are not carried at fair value:

March 31, 2025December 31, 2024HFI at amortized cost, net of deferred fees and costsHFS at LCMTotalLTV by CRE typeHFI at amortized cost, net of deferred fees and costsHFS at LCMTotalLTV by CRE typeLoans not backed by NOO CRE$480,540 $— $480,540 $429,820 $— $429,820 Loans backed by NOO CRE230,626 35,849 266,475 191,831 58,803 250,634 Total loans$711,166 $35,849 $747,015 $621,651 $58,803 $680,454 Loans backed by NOO CRE by type:Retail$65,314 $— $65,314 51.4 %$45,594 $— $45,594 51.4 %1-4 Family23,395 — 23,395 56.1 %25,139 — 25,139 56.1 %Multifamily48,780 — 48,780 52.6 %35,713 — 35,713 52.6 %Industrial27,802 — 27,802 50.1 %27,866 — 27,866 50.1 %Office28,524 — 28,524 47.7 %21,586 — 21,586 47.7 %