secwatch.observer — SEC 8-K summary
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Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K/A
Filed at:   2023-01-27T23:59:59+00:00
Accession:  0001587987-23-000028
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NewtekOne completes $20M acquisition of NBNYC, transforms from BDC to financial holding company
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- Acquired National Bank of New York City for $20M cash; renamed Newtek Bank, N.A.
- Ceased BDC status; now regulated as financial holding company by Federal Reserve and OCC.
- Contributed $31M cash plus subsidiaries NBL and SBL to Newtek Bank at closing.
- Pro forma combined assets $1.09B, net assets $223M as of Sep 30, 2022.
- Pro forma net income for 9mo 2022: $18.74M ($0.77 EPS); full year 2021: $30.52M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000028/0001587987-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000028/newt-20230106.htm
  HTML page:      https://secwatch.observer/filing/0001587987-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer