Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 303

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 303
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1 billion for the six months ended June 30, 2025 and 2024, respectively. The increase in the average balance of loans HFS was attributable to originations of SBA 504 and ALP loans, and 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 $2.3 million increase in interest income from other interest earnings assets was attributable to higher interest rates on cash and due from banks, as well as interest bearing deposits in banks, including Newtek Bank earning interest on Federal Reserve Bank cash deposits.

Interest Expense

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

Six Months EndedJune 30, 2025June 30, 2024ChangeDeposits$19,202 $12,441 $6,761 Notes and securitizations:Notes payable - Securitization Trusts6,548 11,654 (5,106)2024 Notes1— 1,208 (1,208)2025 5.00% Notes2461 925 (464)2025 8.125% Notes3— 2,293 (2,293)2026 Notes3,522 3,522 — 2027 Notes32,045 — 2,045 2028 Notes41,774 1,774 — 2029 8.50% Notes53,310 569 2,741 2029 8.625% Notes63,478 — 3,478 2030 Notes7744 — 744 Total notes and securitizations21,882 21,945 (63)Bank and FHLB Borrowings:Bank notes payable5,280 3,723 1,557 FHLB Advances188 279 (91)Total bank and FHLB borrowings5,468 4,002 1,466 Total interest expense$46,552 $38,388 $8,164 

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