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

Company: NewtekOne, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 17
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 expense162,709 146,329 16,380 Net income before taxes68,692 45,373 23,319 Income tax expense/(benefit)17,839 (1,956)19,795 Net income$50,853 $47,329 $3,524 

79

Net Interest Income and Margin

Average Balances and Yields. The following table presents information regarding average balances for assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amount of interest expense on average interest-bearing liabilities, and the resulting average yields and costs. The yields and costs for the periods indicated are derived by dividing the income or expense by the average balances for assets or liabilities, respectively, for the periods presented and annualizing that result. Loan fees are included in interest income on loans.

Year Ended December 31,20242023Average BalanceInterestAverage Yield / RateAverage BalanceInterestAverage Yield / RateInterest-earning assets:Interest-earning balances in other banks$180,753 $9,044 5.00 %$186,566 $8,854 4.75 %Investment securities31,847 1,482 4.65 31,958 1,518 4.75 Loans held for sale237,903 26,692 11.22 120,598 17,085 14.17 Loans held for investment951,988 84,200 8.84783,808 66,916 8.54Total interest-earning assets1,402,491 121,418 8.661,122,930 94,373 8.40Less: Allowance for credit losses on loans(19,033)(3,619)Noninterest earning assets204,655 197,612 Total assets$1,588,113 $1,316,923 Interest-bearing liabilitiesDemand$51,759 $461 0.89 %$23,973 $31 0.13 %Savings and NOW273,640 13,803 5.04 143,589 7,187 5.01 Money Market27,471 1,141 4.15 22,083 1,052 4.76 Time261,174 13,285 5.09 168,912 7,579 4.49 Total