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NEWTEKONE, INC. - PARENT COMPANY ONLY
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
NEWTEKONE, INC. - PARENT COMPANY ONLY
NOTE 23—NEWTEKONE, INC. - PARENT COMPANY ONLY:

The following statements of financial condition, statements of income and statements of cash flows are for NewtekOne, Inc. and should be read in conjunction with the consolidated financial statements and the notes thereto.

Statements of Financial Condition
As of December 31,
20252024
Assets
Cash and balances due from depository institutions:$20,707 $19,123 
Loans and lease financing receivable4,921 5,715 
Investments in and receivables due from subsidiaries and associated companies 858,874 699,059 
Other assets16,145 9,617 
Total assets900,647 733,514 
Liabilities and shareholders' equity
Borrowings with a remaining maturity of one year or less:95,000 79,856 
Other borrowed money with a remaining maturity of more than one year372,647 325,418 
Other liabilities25,344 22,083 
Balances due to subsidiaries and related institutions10,086 9,876 
Total liabilities
503,077 437,233 
Preferred stock48,181 19,738 
Common stock573 525 
Additional paid in capital253,830 218,266 
Accumulated other comprehensive income(4)(21)
Retained earnings94,990 57,773 
Total shareholders’ equity
397,570 296,281 
Total liabilities and shareholder's equity$900,647 $733,514 
Statements of Income
For the year ended December 31,
202520242023
Interest income$722 $1,851 $2,319 
Interest expense34,438 26,647 18,797 
Net interest loss(33,716)(24,796)(16,478)
Noninterest income:
Dividends54,012 42,107 60,317 
All other operating income (loss)361 2,970 (2,345)
Total noninterest income54,373 45,077 57,972 
Noninterest expense:
Salaries and employee benefits10,984 10,476 9,365 
Other expenses16,795 13,627 10,962 
Total noninterest expense27,779 24,103 20,327 
Net Income (loss) before equity in undistributed income of subsidiaries(7,122)(3,822)21,167 
Income tax expense (benefit)3,955 2,428 (14,837)
Income (loss) before undistributed income of subsidiaries(11,077)(6,250)36,004 
Equity in undistributed income of subsidiaries and associated companies:71,589 57,103 26,813 
Net income$60,512 $50,853 $62,817 
Statements of Cash Flows

For the year ended December 31,
202520242023
Cash flows from operating activities:
Net income$60,512 $50,853 $62,817 
Provisions for deferred income taxes8,339 13,110 (5,814)
Gain (loss) on sale of assets(179)(1,135)539 
Equity in Undistributed (earnings) losses of subs(71,589)(57,103)(26,813)
Net change in other liabilities364 (35,489)(40,414)
Net change in other asset(2,161)5,215 (10,759)
Other, net4,825 6,634 7,570 
Net cash provided by (used in) operating activities111 (17,915)(12,874)
Cash flow from investing activities
 Purchases of held-to-maturity and available-for-sale securities— (19,899)— 
Sales and maturities of held-to-maturity and available-for-sale securities— 20,000 — 
Payments for investments in and advances to subsidiaries(153,915)(176,333)(96,265)
Sale or repayment of investments in and advances to subsidiaries63,416 95,543 — 
Outlays for business acquisitions— — (21,322)
Other, net— 39 14 
Net cash used in investing activities(90,499)(80,650)(117,573)
Cash flow from financing activities
Proceeds from issuance of long-term debt90,875 154,050 90,000 
Repayment of long-term debt(30,000)(38,250)— 
Proceeds from issuance of common stock5,090 14,036 — 
Proceeds from issuance of preferred stock58,181 — 19,493 
Payment to repurchase common stock(1,557)(711)— 
Dividends paid(28,044)(20,252)(14,147)
Other, net(2,572)(5,056)(2,826)
Net cash provided by financing activities91,973 103,817 92,520 
Net increase (decrease) in cash and restricted cash1,585 5,252 (37,927)
Cash and restricted cash - beginning of period19,123 13,871 51,798 
Cash and restricted cash - end of period$20,708 $19,123 $13,871 
Borrowings and Maturities

Refer to NOTE 13—BORROWINGS for a schedule of borrowings that includes the notes issued by the parent company. Refer to the Liquidity and Capital Resources section of the MD&A under the Contractual Obligations section for a schedule of maturities.
Guarantees
The Company is a guarantor on the SPV I Capital One Facility. Maximum borrowings under the SPV I Facility are $100.0 million. The lender’s commitments terminate in July 2027, with all amounts due under the SPV I Facility maturing in July 2028. At December 31, 2025, total principal owed by SPV I was $16.6 million. At December 31, 2025, the Company determined that it is not probable that payments would be required to be made under the guarantee.
The Company is a guarantor on the SPV II Deutsche Bank Facility. Maximum borrowings under the SPV II Deutsche Bank Facility are $170.0 million. The Deutsche Bank Facility matures in December 2027. At December 31, 2025, total principal owed by SPV II was $169.8 million. At December 31, 2025, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the SPV III One Florida Bank Facility. Maximum borrowings under the SPV III One Florida Bank Facility are $35.0 million. The One Florida Bank Facility matures in August 2028. At December 31, 2025, total principal owed by SPV III was $33.3 million. At December 31, 2025, the Company determined that it is not probable that payments would be required to be made under the guarantee. On August 7, 2025, the SPV III One Florida Bank Facility was amended to increase maximum borrowings under the line to $30.0 million.

The Company is a guarantor on the Goldman Facility, a term loan facility between NMS with Goldman with an aggregate principal amount up to $95.0 million. The Goldman Facility matures in September 2030. At December 31, 2025, total principal outstanding was $89.8 million. At December 31, 2025, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on certain of NSBF’s potential obligations to the SBA pursuant to the Wind-down Agreement. Specifically, pursuant to the Wind-down Agreement, the Company has guaranteed NSBF’s obligations to the SBA for post-purchase repairs or denials on the guaranteed portion of 7(a) Loans sold by NSBF on the secondary market or servicing/liquidation post-purchase repairs or denial, and has funded a $10.0 million restricted cash account to secure these potential obligations.
The Company is a guarantor on NMS’s potential obligations to Synovus Bank (“Synovus”) pursuant to the credit card processing bank sponsorship agreement between NMS and Synovus. Synovus may not seek to enforce the guaranty unless and until NMS has materially defaulted on the guaranteed obligations and failed to cure such default(s) within thirty (30) days of receipt of written notice of such default(s) from Synovus. At December 31, 2025, the Company determined that it is not probable that payments would be required to be made under the guarantee.