Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services; Accounts Receivable Financing, and The Secure Gateway. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp., formerly known as Newtek Business Services Inc., was incorporated on August 26, 2013 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.
IPO Year:
Exchange: NASDAQ
Website: newtekone.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/4/2024 | $16.00 → $13.00 | Buy → Neutral | B. Riley Securities |
| 5/19/2023 | $15.00 | Buy | B. Riley Securities |
| 2/22/2023 | Neutral | Piper Sandler | |
| 8/8/2022 | Underperform → Mkt Perform | Raymond James | |
| 8/4/2021 | Market Perform → Underperform | Raymond James | |
| 8/3/2021 | Mkt Perform → Underperform | Raymond James |
BOCA RATON, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today that it will report its fourth quarter and full year 2024 financial results after the market closes on Wednesday, February 26, 2025. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and M. Scott Price, Chief Financial Officer, the following day, Thursday, February 27, 2025 at 8:30 am ET. Please note, to receive a dial-in number for the conference call or to listen to the webcast, interested participants are encouraged to pre-register online at NewtekOne Fourth Quarter and Full Year 2024 Financial Results beginning today and up
BOCA RATON, Fla., Jan. 06, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today the following deposit metrics of Newtek Bank, N.A. ("Newtek Bank" or the "Bank"), its technology-enabled banking subsidiary, at December 31, 2024: $1.03 billion in total deposits at December 31, 2024, which represents a 97.0% increase in total deposits over the year ended December 31, 2023, and growth of $884 million in total deposits since its acquisition in January 2023.Insured deposits represent approximately 78% of total deposits at December 31, 2024.Core business deposits were $216 million at December 31, 2024, an increase of $106 million, or 96%, over the same period in
BOCA RATON, Fla., Dec. 30, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) and Paltalk, Inc. ("Paltalk") (NASDAQ:PALT) will host a conference call on January 2, 2025, to discuss the anticipated January 2, 2025 closing of Paltalk's acquisition (the "Acquisition") of Newtek Technology Solutions, Inc. ("NTS"). Earlier today, Paltalk announced that Paltalk's shareholders voted to approve proposals required to close the Acquisition, which closing is presently scheduled for January 2, 2025. As previously disclosed, in connection with NewtekOne's acquisition of Newtek Bank and transition to a financial holding company, NewtekOne made a commitment to the Board of Governors o
BOCA RATON, Fla., Dec. 16, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced that its Board of Directors declared a quarterly cash dividend of $0.19 per share on the outstanding common stock of NewtekOne. The dividend is payable on January 13, 2025, to shareholders of record as of December 31, 2024. Note Regarding Dividend Payments Amount and timing of dividends, if any, remain subject to the discretion of the Company's Board of Directors. 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 r
BOCA RATON, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today that Newtek Bank, N.A., its technology-enabled banking subsidiary, and Apiture, a leading provider of digital banking solutions, have been recognized for Most Effective Bank-FinTech Partnership in the IBSi Global FinTech Innovation Awards 2024. Now in its sixth year, the awards program celebrates banking technologists who drive exceptional advancements in the fintech sector, recognizing efforts that redefine industry standards and enhance global financial services. NewtekOne launched its digital-only federally chartered bank, Newtek Bank, in 2023, following its acquisitio
BOCA RATON, Fla., Dec. 06, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today that it reaffirmed its forecast to originate approximately $1.4 billion in business loans in 2024 across all of its loan products including SBA 7(a) loans, SBA 504 loans, alternative loan program loans, CRE conforming loans, and C&I conforming loans. The Company forecasts originating approximately $1.9 billion in business loans across all its loan products in 2025, which would represent an approximate 36% increase over its expectations for the 2024 total business loan origination. Most of the 2025 loan origination growth is expected from the alternative loan program, CRE confor
BOCA RATON, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today that its national bank subsidiary, Newtek Bank, N.A., member FDIC, has launched Newtek Zero-Fee Business Banking™, which provides its commercial clients with true zero-fee business banking depository accounts without hidden banking fees or costs. Newtek Bank does not charge fees to its business banking clients for ACH, wires, monthly service charges, maintenance or activity, overdrafts, or insufficient funds and no minimum balance requirements, making its business banking account a true, trusting, zero-fee banking account. Barry Sloane, President, Chairman and CEO commented, "We
BOCA RATON, Fla., Nov. 14, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc.'s (NASDAQ:NEWT) CEO, President, and Chairman, Barry Sloane, was recently interviewed by Chris Miglino, founder and CEO, of Sequire, at the LD Micro Main Event XVII Investor Conference. During the interview, Mr. Sloane discussed the history of NewtekOne and its importance in the business marketplace today with its ecosystem of offerings available to the approximate 30 million independent business owners across the United States. During this 13-minute interview, Mr. Sloane explains the importance of what NewtekOne has accomplished during its two decades of operating history and experience serving independent business owners,
BOCA RATON, Fla., Nov. 06, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT), reports its financial and operating results for the three and nine months ended September 30, 2024. NewtekOne Financial Highlights for the Three Months Ended September 30, 2024 Net income was $11.9 million, and earnings per share ("EPS") was $0.45 per basic and diluted common share, for the three months ended September 30, 2024; a 4.7% increase, on a per share basis, compared to $10.9 million and $0.43 per basic and diluted common share for the three months ended June 30, 2024, and a 4.7% increase, on a per share basis, compared to $10.9 million and $0.43 per basic and dilut
BOCA RATON, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (NASDAQ:NEWT) announced today that it has hired Mr. Ron Lay as Chief Technology Officer at NewtekOne, Inc. and Newtek Bank, N.A. Mr. Lay comes to the Company with 20 years of experience with focus on technology, digital strategy, and risk and compliance within the banking and financial services sectors. Most recently, Mr. Lay was a Managing Director at Investia Software Solutions where he provided technical and consulting services to top-tier consultancies and financial services groups. Prior to this position, Mr. Lay was Managing Director, Global Head of Wholesale IT Digital at HSBC, London, where he led
5 - NewtekOne, Inc. (0001587987) (Issuer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
5/A - NewtekOne, Inc. (0001587987) (Issuer)
5 - NewtekOne, Inc. (0001587987) (Issuer)
BOCA RATON, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today the appointment of Craig "CJ" Brunet as a member of the boards of directors of NewtekOne, Inc. and Newtek Bank N.A. Mr. Brunet's career spans over 50 years with his experience rooted in the information technology and financial services sectors with specific focus in strategic planning, mergers and acquisitions, Software as a Service (SaaS), patent commercialization, cyber security, compliance, and risk management. He is currently the President and Chief Operating Officer at Advanced Cyber Security Corp, a strategic cyber security corporation focused on preventative, patented encryption techno
BOCA RATON, Fla., Sept. 03, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) has hired Mr. Andrew Kaplan as Chief Strategy Officer, effective today. Mr. Kaplan comes to NewtekOne with over 35 years of experience in banking and financial services, with the focus on creating and managing diverse business lines such as payments, digital banking, retail banking, premier banking, and marketing. Most recently, Mr. Kaplan was the Chief Digital Officer at Flagstar Bank, N.A., where he helped transform a dormant digital brand to a leading digital bank and developed a new vertical for the bank, resulting in multi-billion-dollar deposit growth and a 17x increase in accounts in 24 months, w
PASADENA, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Near Intelligence, Inc. (NASDAQ:NIR), a global data intelligence platform that curates one of the world's largest sources of intelligence on people and places, today announced the appointment of two new members to its Board of Directors, effective September 19, 2023: Richard J. Salute, former Director of Capital Markets and SEC Practice at J.H. Cohn and CohnReznick LLP, and served in various leadership roles over 29 years at Arthur Andersen.Sherman Edmiston III, former managing director of Zolfo Cooper LLC (now Alix Partners), and currently a Managing Member of HI CapM Advisors, Ltd. "We're thrilled to bring these talented and
B. Riley Securities downgraded Newtek from Buy to Neutral and set a new price target of $13.00 from $16.00 previously
B. Riley Securities initiated coverage of Newtek with a rating of Buy and set a new price target of $15.00
Piper Sandler initiated coverage of Newtek with a rating of Neutral
Raymond James upgraded Newtek from Underperform to Mkt Perform
Raymond James downgraded Newtek Business Services from Market Perform to Underperform
Raymond James downgraded Newtek from Mkt Perform to Underperform
Compass Point downgraded Newtek from Buy to Neutral and set a new price target of $38.00 from $33.00 previously
Compass Point upgraded Newtek from Neutral to Buy and set a new price target of $30.00
Keefe Bruyette resumed coverage of Newtek with a rating of Mkt Perform and set a new price target of $21.00
144 - NewtekOne, Inc. (0001587987) (Subject)
8-K - NewtekOne, Inc. (0001587987) (Filer)
144 - NewtekOne, Inc. (0001587987) (Subject)
8-K - NewtekOne, Inc. (0001587987) (Filer)
8-K - NewtekOne, Inc. (0001587987) (Filer)
144 - NewtekOne, Inc. (0001587987) (Subject)
424B5 - NewtekOne, Inc. (0001587987) (Filer)
8-K/A - NewtekOne, Inc. (0001587987) (Filer)
10-Q - NewtekOne, Inc. (0001587987) (Filer)
8-K - NewtekOne, Inc. (0001587987) (Filer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
4 - NewtekOne, Inc. (0001587987) (Issuer)
BOCA RATON, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today that it will report its fourth quarter and full year 2024 financial results after the market closes on Wednesday, February 26, 2025. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and M. Scott Price, Chief Financial Officer, the following day, Thursday, February 27, 2025 at 8:30 am ET. Please note, to receive a dial-in number for the conference call or to listen to the webcast, interested participants are encouraged to pre-register online at NewtekOne Fourth Quarter and Full Year 2024 Financial Results beginning today and up
BOCA RATON, Fla., Jan. 06, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today the following deposit metrics of Newtek Bank, N.A. ("Newtek Bank" or the "Bank"), its technology-enabled banking subsidiary, at December 31, 2024: $1.03 billion in total deposits at December 31, 2024, which represents a 97.0% increase in total deposits over the year ended December 31, 2023, and growth of $884 million in total deposits since its acquisition in January 2023.Insured deposits represent approximately 78% of total deposits at December 31, 2024.Core business deposits were $216 million at December 31, 2024, an increase of $106 million, or 96%, over the same period in
BOCA RATON, Fla., Dec. 30, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) and Paltalk, Inc. ("Paltalk") (NASDAQ:PALT) will host a conference call on January 2, 2025, to discuss the anticipated January 2, 2025 closing of Paltalk's acquisition (the "Acquisition") of Newtek Technology Solutions, Inc. ("NTS"). Earlier today, Paltalk announced that Paltalk's shareholders voted to approve proposals required to close the Acquisition, which closing is presently scheduled for January 2, 2025. As previously disclosed, in connection with NewtekOne's acquisition of Newtek Bank and transition to a financial holding company, NewtekOne made a commitment to the Board of Governors o
BOCA RATON, Fla., Dec. 16, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced that its Board of Directors declared a quarterly cash dividend of $0.19 per share on the outstanding common stock of NewtekOne. The dividend is payable on January 13, 2025, to shareholders of record as of December 31, 2024. Note Regarding Dividend Payments Amount and timing of dividends, if any, remain subject to the discretion of the Company's Board of Directors. 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 r
BOCA RATON, Fla., Dec. 06, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. ("the Company") (NASDAQ:NEWT) announced today that it reaffirmed its forecast to originate approximately $1.4 billion in business loans in 2024 across all of its loan products including SBA 7(a) loans, SBA 504 loans, alternative loan program loans, CRE conforming loans, and C&I conforming loans. The Company forecasts originating approximately $1.9 billion in business loans across all its loan products in 2025, which would represent an approximate 36% increase over its expectations for the 2024 total business loan origination. Most of the 2025 loan origination growth is expected from the alternative loan program, CRE confor
BOCA RATON, Fla., Oct. 03, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today that NewtekOne closed a record $371.8 million of loans across all loan products for the three months ended September 30, 2024, which represents an 17.3% increase over $316.7 million of loans closed for the three months ended June 30, 2024. In addition, the Company achieved SBA 7(a) closings of $245.3 million in the third quarter 2024, a 6.6% increase over the second quarter of 2024, and a 12.5% increase over the same period last year. The Company forecasts $935.0 million in total SBA 7(a) loan closings for 2024, which would represent a 14.7% increase over 2023. Barry Sloane, President, Chairm
BOCA RATON, Fla., Oct. 02, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today that it will report its third quarter 2024 financial results after the market closes on Wednesday, November 6, 2024. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer and M. Scott Price, Chief Financial Officer, the following day, Thursday, November 7, 2024 at 8:30 am ET. Please note, to receive a dial-in number for the conference call or to listen to the webcast, interested participants are encouraged to pre-register online at NewtekOne Third Quarter 2024 Financial Results beginning today and up until 15 minutes prior to the start of the N
BOCA RATON, Fla., Sept. 16, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today that its Board of Directors declared a quarterly cash dividend of $0.19 per share on the outstanding common stock of NewtekOne. The dividend is payable on October 21, 2024 to shareholders of record as of October 10, 2024. Note Regarding Dividend PaymentsAmount and timing of dividends, if any, remain subject to the discretion of the Company's Board of Directors. 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
BOCA RATON, Fla., Sept. 05, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ:NEWT) announced today that it is reconfirming its 2024 annual earnings per share ("EPS") forecast in a range of $1.85 to $2.05 per basic and diluted common share. Barry Sloane, Chairman, President and Chief Executive Officer said, "Despite a challenging, volatile equity market for financially related businesses, we continue to be proud of our management team for executing on our goals and metrics, satisfying the needs of our business clients and fostering the continued growth of our business model. As a company that provides best-in-class financial and business solutions to make its clients more successful, we
BOCA RATON, Fla., July 01, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the "Company") (NASDAQ:NEWT), today announced that it will report its second quarter 2024 financial results after the market closes on Monday, August 5, 2024. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer and M. Scott Price, Chief Financial Officer, the following day, Tuesday, August 6, 2024 at 8:30 am ET. Please note, to receive a dial-in number for the conference call or to listen to the webcast, interested participants are encouraged to pre-register online at NewtekOne Second Quarter 2024 Financial Results beginning today and up until 15 minutes prior to the sta
SC 13G - NewtekOne, Inc. (0001587987) (Subject)
SC 13D - NewtekOne, Inc. (0001587987) (Subject)
SC 13G - NewtekOne, Inc. (0001587987) (Subject)
SC 13G - NewtekOne, Inc. (0001587987) (Subject)
SC 13D - NewtekOne, Inc. (0001587987) (Subject)
SC 13D - Newtek Business Services Corp. (0001587987) (Subject)