Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 65

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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207 The ESPP share activity is as follows:SharesESPP shares authorized under the plan200 ESPP shares purchased during:Year ended December 31, 2023 (4)Year ended December 31, 2024(20)Period ended June 30, 2025(13)Available for future purchases, June 30, 2025163 

The Company’s total stock-based compensation expense included within Salaries and employee benefits expense in the Consolidated Statements of Income for the three and six months ended June 30, 2025 and 2024 is summarized below:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Restricted stock awards$1,533 $650 $3,361 $1,331 ESPP23 6 29 12 Total compensation cost recognized for stock-based compensation plans$1,556 $656 $3,390 $1,343 

F-55

NOTE 17—INCOME TAXES:

Effective Tax Rate The effective tax rate was 24.16% and 26.14% for the six months ended June 30, 2025 and June 30, 2024, respectively. The effective tax rate differs from the federal tax rate of 21% for the six months ended June 30, 2025, due primarily to the recognition of the difference in basis in the Company’s investment in NTS and state taxes. The effective tax rate differs from the federal tax rate of 21% for the six months ended June 30, 2024, due primarily due to state taxes.The effective tax rate was 27.00% and 26.00% for the three months ended June 30, 2025 and June 30, 2024, respectively. The effective tax rate differs from the federal tax rate of 21% for the three months ended June 30, 2025 and June 30, 2024 primarily due to state taxes.

NOTE 18—SEGMENTS:The Company's management reporting process measures the performance of its operating segments based on internal operating structure, which is subject to change from time to time. The Company's segment reporting process begins with the assignment of all loans directly to the segments where these products are originated and/or serviced. All deposit accounts are allocated to the Banking segment as our wholly owned FDIC insured depository is included within the Banking segment. Equity capital is assigned to each segment based