Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 235

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 235
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1, 2030 and could be redeemed in whole or in part at any time. The 2030 Notes bear interest at a rate of 8.375% per year payable semiannually on April 1 and October 1 each year, beginning October 1, 2025. Total net proceeds received after deducting structuring fees and estimated offering expenses was approximately $29.25 million. 

Total interest expense including unused line fees and amortization of deferred financing costs related to borrowings for the three months ended March 31, 2025 and 2024 were as follows: Three Months Ended March 31,20252024Total interest expense$14,112 $12,585 

F-40

NOTE 11—DERIVATIVE INSTRUMENTS:The Company historically uses derivative instruments primarily to economically manage the fair value variability of certain fixed rate assets caused by interest rate fluctuations and overall portfolio market risk. The following is a breakdown of the derivatives outstanding as of March 31, 2025 and December 31, 2024:March 31, 2025December 31, 2024Fair ValueRemainingFair ValueRemainingContract TypeNotional1Asset2Liability3Maturity (years)Notional1Asset2LiabilityMaturity (years)5-year Treasury Futures$(180,121)$— $1,040 0.25 years$(153,049)$715 $— 0.25 years1    Shown as a negative number when the position is sold short. 2     Shown in Other assets in the accompanying Consolidated Statements of Financial Condition.3    Shown in Accounts payable, accrued expenses, and other liabilities in the accompanying Consolidated Statements of Financial Condition.

The following table indicates the net realized gains (losses) and unrealized appreciation (depreciation) on derivatives as included in Other noninterest income in the Consolidated Statements of Income for the three months ended March 31, 2025 and 2024:

Three Months EndedMarch 31, 2025March 31, 2024Contract TypeUnrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)5-year Treasury Futures$(1,755)$(869)$592 $(268)Collateral posted with our futures counterparty is segregated in the Company’s books and records. Historically, the Company’s counterparty has held cash margin as collateral for