---
schema_version: "secwatch.filing_event.v1"
accession: "0001587987-23-000007"
form_type: "8-K"
ticker: "NEWT"
cik: "0001587987"
company_name: "NewtekOne, Inc."
filed_at: "2023-01-06T23:59:59+00:00"
generated_at: "2026-06-20T18:48:09.224571+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Newtek completes acquisition of National Bank of New York City for $20M, becomes financial holding company

## Summary
- Acquired all shares of National Bank of New York City for $20M; bank renamed Newtek Bank, N.A.
- Contributed $31M cash and two portfolio companies (Newtek Business Lending, Small Business Lending) to the bank.
- Filed Form N-54C to withdraw election as business development company; ceases to be BDC effective Jan 6, 2023.
- Now a financial holding company regulated by Federal Reserve; will divest Excel WebSolutions and Newtek Technology Solutions within two years.

## SEC filing metadata
- accession: 0001587987-23-000007
- form_type: 8-K
- ticker: NEWT
- cik: 0001587987
- company_name: NewtekOne, Inc.
- filed_at: 2023-01-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1587987/000158798723000007/0001587987-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1587987/000158798723000007/newt-20230106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001587987-23-000007
- JSON: https://secwatch.observer/filing/0001587987-23-000007.json
- Plain text: https://secwatch.observer/filing/0001587987-23-000007.txt

## Key facts
- M&A Transactions
  NewtekOne, Inc. completed an acquisition involving NBNYC shareholders for $20 million (closed 2023-01-06).
  - Action: acquisition
  - Counterparty: NBNYC shareholders
  - Consideration: $20 million
  - Closing: 2023-01-06
  source text: On January 6, 2023, Newtek Business Services Corp. (the “Company”) completed the previously announced acquisition of the National Bank of New York City (“NBNYC” and the “Acquisition,” respectively), a national bank regulated and supervised by the Office of the Comptroller of the Currency, pursuant to which the Company acquired from the NBNYC shareholders all of the issued and outstanding stock of NBNYC for $20 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1587987/000158798723000007/0001587987-23-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.