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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 16—SHAREHOLDERS EQUITY:

Preferred Stock

Series A Preferred Stock

On February 3, 2023, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with Patriot Financial Partners IV, L.P., and Patriot Financial Partners Parallel IV, L.P. (collectively, “Patriot”) in respect of 20 thousand shares of the Company’s Series A Convertible Preferred Stock, par value $0.02 per share (the “Series A Preferred Stock”), in a private placement transaction. The aggregate purchase price was $20.0 million. Each share of Series A Preferred Stock was issued at a price of $1.0 thousand per share and was convertible at Patriot’s option into 47.54 shares of the Company’s Common Stock. The Company had not issued preferred stock prior to February 3, 2023.

On September 16, 2025, the Company entered into a Securities Purchase and Exchange Agreement (the “Purchase and Exchange Agreement”) with Patriot, pursuant to which Patriot exchanged (i) the 20 thousand outstanding shares of the Company’s Series A Preferred Stock originally issued to Patriot for an aggregate purchase price of $20.0 million and (ii) $10 million in cash, for 2,307,692 shares of the Company’s Common Stock (the “Shares”). Patriot is subject to restrictions on transferring the Shares for two years following the date of the Purchase and Exchange Agreement without the Company’s consent, subject to certain customary exceptions.

Series B Preferred Stock

On August 20, 2025, the Company closed an offering of 2,000,000 depository shares (the “Depository Shares”), each representing a 1/40th interest in a share of the Company’s 8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), with a liquidation preference of $1,000 per share (equivalent to $25.00 per Depositary Share). The offering generated approximately $48.357 million in net proceeds to the Company. The newly issued Series B Preferred Stock will pay (and the holders of the Depository Shares will correspondingly receive) a non-cumulative 8.500% per annum cash dividend (payable quarterly when, as and if declared by the Company’s Board, on January 1, April 1, July 1 and October 1 of each year, beginning on October 1, 2025) through October 1, 2030, at which time the dividend rate will reset based on the five-year US treasury rate on the relevant determination date plus a fixed spread and thereafter will reset on the fifth anniversary of the preceding reset date, with the dividend rate determined in the same manner. The Depository Shares are listed on the Nasdaq Global Market® under the ticker symbol “NEWTP.” The Company has not subsequently issued any preferred stock.

Warrants for Common Stock

On February 3, 2023, pursuant to the Securities Purchase Agreement, the Company issued warrants to Patriot to purchase, in the aggregate, 47.54 thousand shares of Common Stock for $21.03 per share. The Warrants are exercisable in whole or in part until the ten year anniversary of the entry into the Securities Purchase Agreement and may be exercised for cash or on a “net share” basis, with the number of shares withheld determined based on the closing price of the Common Stock on the date of such exercise. Warrants are included in Accounts payable, accrued expenses and other liabilities on the Consolidated Statements of Financial Condition.
ATM Program

The Company’s shelf registration statement on Form S-3 was declared effective by the SEC on July 27, 2023. On November 17, 2023, the Company entered into an ATM equity distribution agreement (the “Original ATM Equity Distribution Agreement”). The Original ATM Equity Distribution Agreement provided that the Company may offer and sell up to 3.0 million shares of Common Stock from time to time through the placement agents thereunder (the “ATM Program”). The Original ATM Equity Distribution Agreement was amended and restated on June 6, 2025 (the “Amended and Restated Equity Distribution Agreement”). The Amended and Restated Equity Distribution Agreement provides that the Company may offer and sell up to 5.0 million shares of Common Stock from time to time through the placement agents thereunder (inclusive of shares of Common Stock sold under the Original ATM Distribution Agreement) and added certain additional placement agents. The Company may, subject to market conditions, engage in activity under the ATM Program.
The following table summarizes the total shares sold and net proceeds received under the ATM Program:

Year Ended December 31,
2023 ATM Program202520242023
Shares sold425 1,100 — 
Net weighted average price per share$12.22 $12.56 $— 
Net proceeds$5,090 $13,818 $— 
Placement agent fees paid
$104 $282 $— 
We used the net proceeds for funding investments in accordance with our investment objective and strategies and for general corporate purposes including repaying outstanding indebtedness and other general corporate purposes.
Stock and Debt Repurchase Programs

On November 1, 2024, the Company’s Board of Directors approved a new stock repurchase program granting the Company authority to repurchase up to 1.0 million shares of Company common stock during the following twelve months. On November 7, 2025, the Company’s Board of Directors approved a twelve month extension of the stock repurchase program. The actual timing and amount of any repurchases under the plan will be determined by the Company in its discretion, and will depend on a number of factors, including market conditions, applicable legal requirements, the Company's capital needs and whether there is a better alternative use of capital. The Company has no obligation to repurchase any amount of its common stock under its new stock repurchase program.
The following tables summarizes the Company’s repurchase activity under the stock repurchase program:

PeriodShares
Amount1
Authorizations remaining as of December 31, 2024970 
Repurchases:
June 1, 2025 - June 30, 202516 167 
November 1, 2025 - November 30, 2025101 1,025 
December 1, 2025 - December 31, 202526 295 
Authorizations remaining as of December 31, 2025827 
1    Amount excludes commissions paid associated with share repurchases.

PeriodShares
Amount1
Authorizations remaining as of November 1, 20241,000 
Repurchases:
December 1, 2024 - December 31, 202430 402 
Authorizations remaining as of December 31, 2024970 
1    Amount excludes commissions paid associated with share repurchases.

In addition, on September 11, 2025, the Board approved a debt repurchase program granting the Company authority to repurchase up to $5.0 million aggregate principal amount of the Company’s 2029 Notes during the following six months. The actual timing and amount of any repurchases under the plan will be determined by the Company in its discretion, and will depend on a number of factors, including market conditions, applicable legal requirements, the Company's capital needs and whether there is a better alternative use of capital. The Company has no obligation to repurchase any amount of its debt securities under this debt repurchase program. Pursuant to the debt repurchase program, the Company repurchased 2,700 shares of its 2029 8.50% Notes on September 22, 2025.
Dividends and Distributions

Preferred Stock

The Company’s dividends and distributions on its Preferred Stock are recorded on the declaration date. The following table summarizes dividend declarations and distributions on the Series A and Series B Preferred Stock during the years ended December 31, 2025 and 2024:

Date Declared
Series1
Record DatePayment DateAmount Per ShareCash Distribution
Year ended December 31, 2025
March 31, 2025
A
March 30, 2025April 1, 2025$20.00 $400 
June 30, 2025
A
June 30, 2025July 1, 2025$20.00 $400 
September 29, 2025
B
September 29, 2025October 1, 2025$9.44 
2
$472 
2
December 10, 2025BDecember 22, 2025January 1, 2026$21.25 $1,063 
Year ended December 31, 2024
March 18, 2024
A
March 28, 2024April 1, 2024$20.00 $400 
June 26, 2024
A
June 28, 2024July 1, 2024$20.00 $400 
September 16, 2024
A
September 30, 2024October 1, 2024$20.00 $400 
December 31, 2024AJanuary 1, 2025January 2, 2025$20.00 $400 
1    Series A Preferred Stock exchanged for Common Stock and cash on September 16, 2025.    
2    Prorated for the initial dividend period from the date of the issuance of the Series B preferred stock on August 20, 2025.
The Company’s dividends and distributions on the Common Stock are recorded on the declaration date. The following table summarizes the Company’s dividend declarations and distributions, including dividend shares issued on vested restricted stock awards, during the years ended December 31, 2025 and 2024:
Record DatePayment DateAmount Per ShareCash Distribution
Dividend Shares Issued on Unvested RSAs
Date Declared#$
Year ended December 31, 2025
March 31, 2025April 15, 2025April 30, 2025$0.19 $4,835 35 $367 
June 25, 2025July 9, 2025July 21, 2025$0.19 $4,836 — $— 
September 30, 2025October 14, 2025October 24, 2025$0.19 $5,387 3 $54 
December 10, 2025December 22, 2025January 2, 2026$0.19 $5,419 5 $52 
Year ended December 31, 2024
March 19, 2024April 1, 2024April 15, 2024$0.19 $4,617 6 $71 
June 27, 2024July 9, 2024July 19, 2024$0.19 $4,827 5 $78 
September 16, 2024October 10, 2024October 21, 2024$0.19 $4,837 8 $114 
December 13, 2024December 31, 2024January 13, 2025$0.19 $4,833 13 $155