NewtekOne Q1 loan closings up 36% to $308.6M; record approvals; reaffirms EPS guidance

NewtekOne, Inc.

SBA 7(a) loan closings $207.7M in Q1 2024, up 36.2% YoY from $152.5M.
Total loan closings across all products $308.6M, up 35.8% YoY from $227.2M.
Loan approvals reached a quarterly record of $507.7M in Q1 2024.
Deposits increased ~$30M from March 15-31, 2024, driven by digital account openings.
Maintains 2024 EPS guidance $1.80-$2.00 per share, calls it conservative; update due with Q1 earnings in May.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NewtekOne, Inc. updated its the three months ended March 31, 2024 guidance (reaffirmed).

Period: the three months ended March 31, 2024
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

On April 1, 2024 the Company issued a press release entitled, "NewtekOne Announces Loan Closings for the First Quarter 2024."

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NewtekOne, Inc. filing history →

Source: SEC EDGAR

accession 0001587987-24-000059

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