8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

October 2, 2023

Date of Report (date of Earliest Event Reported)

NEWTEKONE, INC.

(Exact Name of Company as Specified in its Charter)

Maryland	814-01035	46-3755188
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File No.)	(I.R.S. Employer Identification No.)

4800 T Rex Avenue, Suite 120, Boca Raton, Florida 33431

(Address of principal executive offices and zip code)

(212) 356-9500

(Company’s telephone number, including area code)

(Former name or former address, if changed from last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.02 per share	NEWT	Nasdaq Global Market LLC
5.75% Notes due 2024	NEWTL	Nasdaq Global Market LLC
5.50% Notes due 2026	NEWTZ	Nasdaq Global Market LLC
8.00% Notes due 2028	NEWTI	Nasdaq Global Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Forward-Looking Statements

Statements in NewtekOne, Inc.’s (“NewtekOne” or the “Company”) Current Report on Form 8-K (including the exhibit) contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to significant risks and uncertainties. Information regarding the Company, including loan closings, assets under supervision, capital ratios, risk-weighted assets, supplementary leverage ratios and balance sheet data consists of preliminary estimates. These estimates are forward-looking statements and are subject to change, possibly materially, as the Company completes its financial statements. Moreover, factors that could cause NewtekOne’s actual results to differ materially from those described in the forward-looking statements can be found in NewtekOne’s Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent filings filed with the Securities and Exchange Commission which are available on NewtekOne’s website (https://investor.newtekbusinessservices.com/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Item 2.02.     Results of Operations and Financial Condition.

On October 2, 2023, the Company issued a press release announcing loan closings in the third quarter 2023. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this report shall be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended.

Item 9.01.      Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit Number	Description
99.1	Press Release, dated October 2, 2023, entitled “NewtekOne, Inc. Achieves Record SBA 7(a) Loan Closings in the Third Quarter 2023”

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NEWTEKONE, INC.
Date: October 2, 2023	By:	/S/    BARRY SLOANE
		Barry Sloane
		Chief Executive Officer, President and Chairman of the Board

EX-99.1

1 NewtekOne, Inc. Achieves Record SBA 7(a) Loan Closings in the Third Quarter 2023 Boca Raton, FL October 2, 2023 - NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT), announced today that its nationally chartered bank subsidiary, Newtek Bank, N.A., closed a record $218.0 million of SBA 7(a) loans for the three months ended September 30, 2023, which represents a new quarterly record for the Company, beating the previous record quarter of $217.8 million SBA 7(a) loans closed for the three months ended September 30, 2022. In addition, Newtek Bank closed a record 517 SBA 7(a) loan units for the three months ended September 30, 2023, an increase of 45.6% compared to 355 SBA 7(a) loan units closed by the Company for the same period in 2022. Total loan closings across all of the Company’s loan products reached $261.5 million, and 541 units, for the three months ended September 30, 2023, compared to $251.8 million, and 368 units, for the same period one year ago. Both the total loan closings in dollars and units were also quarterly records for the Company. Barry Sloane, Chairman, President and Chief Executive Officer commented, “We are extremely pleased that Newtek Bank closed a Company record $218.0 million of SBA 7(a) loans in the third quarter 2023, outpacing the Company’s previous record from the third quarter 2022. Correspondingly, we also achieved a record in closed SBA 7(a) loan units for the third quarter 2023 of 517 units; 45.6% higher compared to the same period last year. Total loan closings for NewtekOne, which includes closings of SBA 7(a) loans, SBA 504 loans, conforming C&I loans, conforming commercial real estate loans, and non-conforming conventional C&I loans (which are funded at NewtekOne nonbank subsidiaries), reached $261.5 million, compared to $251.8 million for the same period last year. Total closed loan units for all loan products Company-wide produced strong growth as well reaching 541 units in the third quarter 2023, compared to 368 loan units in the third quarter 2022. We could not be more pleased with the performance of our entire organization, in particular during challenging economic conditions, as we believe we have an advantage in the market as we provide technology-based business and financial solutions for independent business owners, which we believe are clearly superior to slower and less-efficient manual processes.” Mr. Sloane continued, “As we enter the fourth quarter 2023, the continued threat of a government shutdown clearly appears to be concerning some market participants, however our experience in operating the SBA 7(a) loan business for over two decades gives us the roadmap to prepare for any

2 temporary bumps in the road as best as we can. As one can clearly see with our record SBA 7(a) closings, we were able to manage and navigate these challenges in the third quarter 2023, and believe that we will continue full steam ahead for the fourth quarter 2023 for loan production and closings. Since our founding in 2000, our SBA 7(a) non-bank lending platform has navigated many of these temporary shutdowns, some of which have lasted days and some lasting weeks and, as such, we fully understand how to prepare for, manage and navigate through these challenges.” Mr. Sloane further stated, “We look forward to reporting our third quarter 2023 earnings and hosting our earnings conference call in early November. We plan on discussing, in detail, our ongoing success in deposit gathering, which includes a shift away from brokered deposits to a greater focus on growing core retail deposits, as well as our reduction in broker deposits, and the payoff of expensive lines of credit as we shift more of our funding into Newtek Bank. We will also report our progress in customer openings of Newtek Advantage™ accounts, as well as opportunities and further developments in upgrading and enhancing our staff and senior management team.” Mr. Sloane concluded, “The fact that we have been able to continue to demonstrate a successful transition to owning a nationally chartered bank and executing our business plan and business model during challenging times makes us feel extremely positive about our ability to continue to develop our business model of serving and acquiring clients in a manner that we believe is far superior to traditional organizations operating in our business space. In an effort to continue to convey our business strategy and model, which we believe is unique in the market, I will be on the West Coast Monday, October 2, 2023 through Wednesday, October 4, 2023 visiting with multiple investors and attending the LD Micro investment conference and, currently, I have 19 one-on-one investment meetings scheduled.” About NewtekOne, Inc. NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium- sized business (“SMB”) market. Since 1999, NewtekOne has provided state-of-the-art, cost- efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.

3 NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions. Newtek®, NewtekOne®, Newtek Bank®, N.A., Your Business Solutions Company® and One Solution for All Your Business Needs® are registered trademarks of NewtekOne, Inc. Note Regarding Forward-Looking Statements Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995. These statements are based on management’s current expectations and are subject to significant risks and uncertainties. Information regarding the Company, including loan closings, assets under supervision, capital ratios, risk-weighted assets, supplementary leverage ratios and balance sheet data consists of preliminary estimates. These estimates are forward-looking statements and are subject to change, possibly materially, as the Company completes its financial statements. Moreover, factors that could cause NewtekOne’s actual results to differ materially from those described in the forward-looking statements can be found in NewtekOne’s Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent filings filed with the Securities and Exchange Commission which are available on NewtekOne’s website (https://investor.newtekbusinessservices.com/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne, Inc. speak only as to the date they are made, and NewtekOne, Inc. does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. SOURCE: NewtekOne, Inc. Investor Relations & Public Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / jcavuoto@newtekone.com

XML

Cover	Oct. 02, 2023
Document Information [Line Items]
Document Type	8-K
Entity Registrant Name	NEWTEKONE, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-3755188
Entity Address, Address Line One	4800 T Rex Avenue
Entity Address, Address Line Two	Suite 120
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	212
Local Phone Number	356-9500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001587987
Document Period End Date	Oct. 02, 2023
Securities Act File Number	814-01035
Common Stock, par value $0.02 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.02 per share
Trading Symbol	NEWT
Security Exchange Name	NASDAQ
5.75% Notes due 2024
Document Information [Line Items]
Title of 12(b) Security	5.75% Notes due 2024
Trading Symbol	NEWTL
Security Exchange Name	NASDAQ
5.50% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	8.00% Notes due 2028
Trading Symbol	NEWTI
Security Exchange Name	NASDAQ
Five Point Five Zero Percent Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	5.50% Notes due 2026
Trading Symbol	NEWTZ
Security Exchange Name	NASDAQ