Company: NEWTP
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001587987-25-000050
Chunk: 10

Company: NewtekOne, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 10
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305 285,346 Allowance for credit losses(30,233)(12,574)(17,659)Loans held for investment, at amortized cost, net591,418 323,731 267,687 Total Loans$1,392,253 $969,006 $423,247 

Loans held for sale

Loans HFS, at fair value increased $253.4 million during the year ended December 31, 2024. The overall increase was primarily the result of new loan originations during 2024, net of sales, in the amount of $181.1 million for ALP loans and $72.3 million in SBA loans.

December 31, 2024December 31, 2023ChangeSBA, at fair value$159,788 $87,510 $72,278 ALP, at fair value212,498 31,357 181,141 Total$372,286 $118,867 $253,419 

Loans HFS, at LCM increased $2.2 million during the same period. The overall increase was primarily the result of new loan originations during 2024, net of sales.

December 31, 2024December 31, 2023ChangeSBA 504 First Lien$36,783 $39,565 $(2,782)SBA 504 Second Lien8,203 5,741 2,462 SBA 7(a)— 64 (64)SBA 7(a) Partials13,817 11,237 2,580 Loans HFS, at LCM58,803 56,607 2,196 

Loans held for investment

At Fair value: Loans HFI, at fair value was $369.7 million at December 31, 2024 compared to $469.8 million at December 31, 2023. The balance consists primarily of SBA 7(a) loans as well as $6.7 million of loans that the Company owns 100% as a result of originating the loan and subsequently repurchasing the guaranteed portion from the SBA. As previously discussed, NSBF ceased originating loans during 2023, resulting in the decrease in the balance of loans held for investment from December 31, 2023 to December 31, 2024, primarily due to the principal payments of existing