Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 316

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 316
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 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 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.

4    On August 31, 2023, the Company completed a public offering of $40.0 million aggregate principal amount of 8.00% notes due 2028. The Notes will mature on September 1, 2028. The Notes bear interest