secwatch.observer — SEC 8-K summary
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Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2025-01-06T23:59:59+00:00
Accession:  0001587987-25-000010
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newtek Bank deposits exceed $1.0B, up 97% YoY and $884M since Jan 2023
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- Total deposits $1.03B at Dec 31, 2024, up 97% YoY; increased $884M since acquisition in Jan 2023.
- Core business deposits $216M, up 96% YoY; 950 new business checking accounts added in Q4 2024.
- Deposit base grew to ~15,000 accounts from 1,400 at acquisition; 78% of deposits are insured.
- CEO highlights bank's low efficiency ratio below 40% in Q3 2024 and digital account opening.
- Bank transformed from single-branch wholesale-funded to fully digital, tech-enabled franchise.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000010/0001587987-25-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000010/newt-20250106.htm
  HTML page:      https://secwatch.observer/filing/0001587987-25-000010

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