From GlobeNewswire: 2025-02-26 17:27:00

NewtekOne, Inc. reports financial results for the three months ended December 31, 2024. Net income was $18.3 million with earnings per share of $0.70. Total assets were $2.1 billion, with loans held for investment at $991.4 million. The company’s financial performance showed improvements across various key metrics.

For the twelve months ended December 31, 2024, NewtekOne reported net income of $50.9 million and earnings per share of $1.97. Total deposits were $1.04 billion, with an increase of 39.5% from the previous year. The company’s efficiency ratio improved to 43.6%, showing progress in operational efficiency.

Newtek Bank, N.A. also saw growth in its financial metrics, with total deposits reaching $1.04 billion. Net interest margin was 4.84% for the twelve months ended December 31, 2024, showing an increase in profitability. The bank’s return on assets was 6.3%, indicating strong performance in utilizing its assets effectively.

CEO Barry Sloane expressed satisfaction with the company’s financial achievements and highlighted the successful transition to a financial holding company owning a nationally chartered bank. He emphasized the growth in deposits and loan portfolio, showcasing Newtek’s ability to generate profits and provide innovative financial solutions for independent business owners.

NewtekOne raised its 2025 annual EPS forecast range to $2.10 to $2.50 per basic and diluted common share, reflecting confidence in future growth. The company’s unique business model, focused on technology and efficiency, aims to provide high-quality asset originations and attractive returns for stakeholders.



Read more at GlobeNewswire:: NewtekOne, Inc. Reports Full Year 2024 Earnings of $1.97