Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 324

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 324
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 and 2024, respectively. Adding to the decrease was $1.2 million of net unrealized losses on joint ventures and other non-control investments for the three months ended June 30, 2025 compared to none in the prior period.

Non-Interest Expense

Three Months Ended June 30,2025/2024 Increase/(Decrease)2025June 30, 2024AmountPercentSalaries and employee benefits expense$23,135 $20,790 $2,345 11.3 %Technology services expense— 3,420 (3,420)(100.0)Electronic payment processing expense4,428 5,693 (1,265)(22.2)Professional services expense4,304 2,743 1,561 56.9 Other loan origination and maintenance expense3,287 3,015 272 9.0 Depreciation and amortization274 521 (247)(47.4)Other general and administrative costs6,881 4,382 2,499 57.0 Total noninterest expense$42,309 $40,564 $1,745 4.3 %

Salaries and Employee Benefits Expense

The increase in salaries and employee benefits was primarily attributable to increased benefits costs, primarily bonus accruals, higher medical and other insurance costs.

Technology Services Expenses

The $3.4 million decrease in technology services expenses for the three months ended June 30, 2025 corresponded with the NTS Sale. Refer to NOTE 4—INVESTMENTS: Intelligent Protection Management Corp.

Professional Services Expense

The increase in professional fees period over period is primarily attributable to costs associated with the NTS disposition that occurred on January 2, 2025. Refer to NOTE 4—INVESTMENTS: Intelligent Protection Management Corp.

Other Loan Origination and Maintenance Expense

Other loan origination and maintenance expenses during the three months ended June 30, 2025, was $3.3 million compared to $3.0 million for the three months ended June 30, 2024. The increase was due to the increase in loans originated during the period.

Depreciation and Amortization

The decrease in depreciation and amortization period over period is primarily attributable to the full amortization of intangible assets during the second half of 2024, which results in less amortization in 2025 as compared to the prior year.

Other General and Administrative