Company: NEWTP
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001587987-25-000050
Chunk: 12

Company: NewtekOne, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 12
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174 3.3 %Other real estate owned3,764 0.2 %1,110 0.1 %  Total Nonperforming Assets$95,409 4.6 %$54,657 3.8 %

CRE exposure

The Company’s loan portfolio consists of loans to independent business owners (SMBs). The Company’s Loans HFI at amortized cost and Loans HFS at LCM include a total of $299.1 million of loans, including unfunded commitments, backed by CRE and considered non-owner occupied as of December 31, 2024. The average loan-to-value for this CRE portfolio was 57.9%. 

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The table below presents detail of the loans considered non-owner occupied CRE that are not carried at fair value:

December 31, 2024December 31, 2023HFI at amortized cost, net of deferred fees and costsHFS at LCMTotalLTV by CRE typeHFI at amortized cost, net of deferred fees and costsHFS at LCMTotalLTV by CRE typeLoans not backed by NOO CRE$429,820 $— $429,820 $172,502 $— $172,502 Loans backed by NOO CRE191,831 58,804 250,635 163,803 56,607 220,410 Total loans$621,651 $58,804 $680,455 $336,305 $56,607 $392,912 Loans backed by NOO CRE by type:Retail$45,594 $— $45,594 51.4 %$40,400 $— $40,400 49.7 %1-4 Family25,139 — 25,139 56.1 %31,700 — 31,700 57.6 %Multifamily35,713 — 35,713 52.6 %29,800 — 29,800 51.3 %Industrial27,866 — 27,866 50.1 %23,400 — 23,400 47.3 %Office21,586 — 21,586 47.7 %6,599 — 6,599 48.9 %Construction and land development122,775 44,