Newtek Business Services

Newtek Business Services Corp. is a non-diversified closed-end management investment company, which engages in the provision of business and financial solutions. Its products and services include business lending, electronic payment processing, managed technology solutions (cloud computing), technology consulting, ecommerce, accounts receivable, inventory financing, personal and commercial lines insurance services, web services, data backup, storage and retrieval, and payroll and benefits solutions to small-and-medium sized businesses (SMB) accounts nationwide across all industries. The company was founded by Barry Sloane in 1998 and is headquartered in New York, NY.

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NewtekOne, Inc. is a financial holding company, which engages in the provision of business and financial solutions. Its brands include Newtek Bank, Newtek Lending, Newtek Payments, Newtek Insurance, Newtek Payroll, and Newtek Technology. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.

NewtekOne's deposit growth is exceeding forecasts - the bank could reach $1 billion in deposits by Q2 2024. However, its growth is currently bottlenecked by the rate of loan issuances. NewtekOne recently hired 3 executives, all of whom are from the former Iberiabank, who I believe form a natural leadership team for NewtekOne's expansion. The securitization business, which I ignored in my previous article, has a significant ~20% ROE and cannot be ignored - NewtekOne will continue to recycle loan capital.

NewtekOne: Q2 2023 Updates, Valuation Redo, Reiterate Buy

NewtekOne, Inc. (NASDAQ:NEWT ) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Barry Sloane - President and CEO Nicholas Leger - CAO Scott Price - CFO, NewtekOne HoldCo and Newtek Bank National Association Conference Call Participants Crispin Love - Piper Sandler Michael Perito - KBW Bryce Roe - B. Riley Scott Sullivan - Raymond James Christopher Nolan - Ladenburg Thalmann & Co. Operator Good day and thank you for standing by.

NewtekOne, Inc. (NEWT) Q2 2023 Earnings Call Transcript

The headline numbers for NewtekOne (NEWT) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, NewtekOne (NEWT) Q2 Earnings: A Look at Key Metrics

NewtekOne (NEWT) came out with quarterly earnings of $0.26 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.75 per share a year ago.

NewtekOne (NEWT) Q2 Earnings Match Estimates

BOCA RATON, Fla., Aug. 02, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today its financial and operating results for the three and six months ended June 30, 2023.

NewtekOne, Inc. Reports Second Quarter 2023 Financial Results; Conference Call Tomorrow 8:30 AM ET

BOCA RATON, Fla., July 24, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), announced that Newtek Bank, N.A. has recruited Mr. Burt Chandler as Director of Operations, effective today.

Newtek Bank, N.A. Hires Mr. Burt Chandler as Director of Operations

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BOCA RATON, Fla., July 05, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that it will report its second quarter 2023 financial results after the market closes on Wednesday, August 2, 2023. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer; M. Scott Price, Chief Financial Officer; and Nicholas Leger, Chief Accounting Officer, the following day, Thursday, August 3, 2023 at 8:30 am ET.

NewtekOne, Inc. to Report Second Quarter 2023 Financial Results on Wednesday, August 2, 2023 After the Market Closes

Company Provides Second Quarter 2023 Updates on Key Performance Metrics Company Provides Second Quarter 2023 Updates on Key Performance Metrics

NewtekOne Reports Record Number of SBA 7(a) Loans Funded For the Second Quarter 2023

BOCA RATON, Fla., June 27, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its Board of Directors declared a quarterly cash dividend of $0.18 per share on the outstanding shares of the Company's common stock, payable on July 21, 2023 to shareholders of record as of July 10, 2023.

NewtekOne, Inc. CEO, Barry Sloane, Comments on the Declaration of the Quarterly Dividend of $0.18 per Share

BOCA RATON, Fla., June 26, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today that it has joined the broad-market Russell 3000 Index and the small-cap Russell 2000® Index following the conclusion of the Russell indexes annual reconstitution for 2023, effective upon today's US market open.

NewtekOne, Inc. Joins the Russell 3000® and Russell 2000® Indexes

BOCA RATON, Fla., June 14, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today that it has closed its twelfth small business loan securitization, with the offering of $103,860,000 of Unguaranteed SBA 7(a) Loan-Backed Notes, Series 2023-1, consisting of $84,270,000 of Class A Notes and $19,590,000 of Class B Notes (collectively, the “Notes”), with preliminary ratings of “A- (sf)” and “BBB- (sf)”, respectively, by S&P Global Ratings (“S&P”). The Notes had a 79.5% advance rate. The Class A Notes were priced at lesser of 30-day Average Compounded SOFR plus 300 basis points or PRIME minus 50 basis points, and the Class B Notes were priced at lesser of 30-day Average Compounded SOFR plus 425 basis points or PRIME plus 75 basis points (Note interest rates are floating rate and adjust monthly).

NewtekOne Closed its 12th S&P-Rated Loan Securitization of $103.9 Million of SBA 7(a) Unguaranteed Loan-Backed Notes Series 2023-1

NewtekOne Inc.'s unique business model once earned it the highest premium to net asset value of any business development company. It also grew its distribution quicker than any BDC I've covered. But that all changed when the firm announced intentions to convert to a bank.

NewtekOne: Critical Look At The Entity's First Quarter

I take a sum-of-the parts and discounted cash flow approach to valuing NewtekOne's bank and subsidiary companies. Newtek Bank's model is by far the more complex, involving 15 parameters. About half of them are known, the others are estimated or picked for a margin of safety.

NewtekOne: Deep Margin Of Safety Likely Present - Valuation Model

NewtekOne's moat is its preferred lending partner status at the SBA and its NewTracker technology, providing a constant funnel of high yielding SBA loans to issue and sell. The 11.25% interest rate on SBA loans allows Newtek to offer highly competitive interest rates on new checking and savings accounts, up to 5% on online personal savings accounts.

NewtekOne: The Moat And The Plan

NewtekOne, Inc. (NASDAQ:NEWT ) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Barry Sloane - President and Chief Executive Officer Nicholas Leger - Chief Accounting Officer Conference Call Participants Crispin Love - Piper Sandler Christopher Nolan - Ladenburg Thalmann & Co Bryce Rowe - B. Riley Paul Johnson - KBW Scott Sullivan - RJ Sean-Paul Adams - Raymond James Steven Nemo - Private Investor Operator Good day, welcome to the Newtek One, Inc. First Quarter 2023 Earnings Conference Call.

NewtekOne, Inc. (NEWT) Q1 2023 Earnings Call Transcript

Reiterated Previously Issued Earnings Forecast for the Full Year 2023 in a Range of $1.70 to $2.00 of Earnings per Share Reiterated Previously Issued Earnings Forecast for the Full Year 2023 in a Range of $1.70 to $2.00 of Earnings per Share

UPDATE -- NewtekOne, Inc. Reports First Quarter 2023 Net Income of $11.7 million, or $0.46 per Basic Share

NewtekOne, Inc. Reports First Quarter 2023 Net Income of $11.7 million, or $0.46 per Basic Share

NewtekOne (NEWT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

NewtekOne (NEWT) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

BOCA RATON, Fla., April 27, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its wholly owned bank subsidiary, Newtek Bank N.A., was granted Preferred Lenders Program (“PLP”) status by the Small Business Administration's (“SBA”). Under the PLP, the SBA grants the most experienced lenders delegated authority to process, close, service, and liquidate SBA-guaranteed loans. In addition, qualified lenders are granted delegated authority (PLP) to make eligibility determinations.

Newtek Bank N.A., Receives SBA Preferred Lenders Program (PLP) Status

BOCA RATON, Fla., April 20, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that it will report its first quarter 2023 financial results after the market closes on Monday, May 8, 2023. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Nicholas Leger, Chief Accounting Officer, the following day, Tuesday, May 9, 2023 at 8:30 am ET.

NewtekOne, Inc. to Report First Quarter 2023 Financial Results on Monday, May 8, 2023 After the Market Closes

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According to the Insider Cluster Buys Screen, a Premium feature of GuruFocus, five stocks that have high number of unique insider buys over the past three months are Air Transport Services Group Inc. ( ATSG , Financial), Beyond Air Inc. ( XAIR , Financial), Charles Schwab Corp. ( SCHW , Financial), Valley National Bancorp ( VLY , Financial) and NewtekOne Inc. ( NEWT , Financial).

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For many years, NewtekOne was a top-performing BDC. It delivered total returns easily surpassing the S&P 500. NewtekOne acquired a bank and just converted to a financial holding company. This article explains why that seemingly strange move makes a lot of sense.

Something's Gotta Give: A NewtekOne Update You Don't Want To Miss

BOCA RATON, Fla., April 04, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ((NASDAQ: NEWT) (the “Company” or “NewtekOne”) updates the investment community on the Company's key performance indicators for the first quarter of 2023.

NewtekOne, Inc.'s CEO Updates the Market on First Quarter 2023 Key Performance Indicators

Will Hold Conference Call to Discuss with Q&A On Wednesday, March 15, 2023 at 8:30am ET Will Hold Conference Call to Discuss with Q&A On Wednesday, March 15, 2023 at 8:30am ET

News for Newtek Business Services Stock (NEWT)