Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 295

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 295
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$15,403 SBA 504 Second Lien29,344 26,678 2,666 SBA 7(a)184,480 4,855 179,625 SBA 7(a) Partials119,106 — 19,106 Total SBA loans376,588 159,788 216,800 ALP138,021 212,498 (74,477)Loans HFS, at fair value$514,609 $372,286 $142,323 

1    Reclassified from Loans HFS, at LCM

Loans HFS, at LCM decreased $26.5 million during the same period. The overall decrease was primarily the result of new loan originations during 2025, net of sales.

June 30, 2025December 31, 2024ChangeSBA 504 First Lien$26,044 $36,783 $(10,739)SBA 504 Second Lien6,247 8,203 (1,956)SBA 7(a) Partials1— 13,817 (13,817)Loans HFS, at LCM$32,291 $58,803 $(26,512)

1    Reclassified to Loans HFS, at fair value

68

Loans held for investment

At Fair value: Loans HFI, at fair value were $326.1 million at June 30, 2025 compared to $369.7 million at December 31, 2024. The balance consists primarily of SBA 7(a) loans as well as $6.2 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, 2024 to June 30, 2025, primarily due to the principal payments of existing loans held by NSBF.

At Amortized Cost: Loans HFI, at amortized cost consist of loans originated at or purchased by Newtek Bank. The $146.2 million increase in loans HFI, at amortized cost is the result of an increase in originations for the six months ended June 30, 2025 over 2024.

Credit Quality: The following table