NewtekOne appoints new Bank President and Company CFO; President of Bank resigns

NewtekOne, Inc.

Nicolas Young resigns as President/COO of Newtek Bank effective May 16; Peter Downs appointed as President effective April 22.
Downs, previously Chief Lending Officer and board member, gets $750k base salary under employment agreement.
Frank DeMaria named CFO of NewtekOne (was Chief Accounting Officer); base salary $433k; M. Scott Price remains CFO of Bank.
Michael Schwartz's employment as Chief Legal Officer renewed for one year; base compensation $625k unchanged.
All executives have change-in-control agreements providing severance of 1.15x base plus prior year bonus.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Peter Downs

President of Newtek Bank, N.A.

NEWT · NewtekOne, Inc.

Effective: 2025-04-22
Filed: April 23, 2025, 7:59 PM ET

The Bank has appointed Peter Downs (60), the Company’s and Bank’s Chief Lending Officer, as President of the Bank, effective April 22, 2025;

Departed

Nicolas Young

President and Chief Operating Officer of Newtek Bank, N.A.

NEWT · NewtekOne, Inc.

Effective: 2025-05-16
Successor: Peter Downs
Filed: April 23, 2025, 7:59 PM ET

On April 21, 2025, Nicolas Young provided notice of his resignation as President and Chief Operating Officer of the Company’s subsidiary Newtek Bank, N.A. (the “Bank”), effective May 16, 2025.

Role change

Frank DeMaria

Chief Financial Officer of the Company

NEWT · NewtekOne, Inc.

Effective: 2025-04-22
Filed: April 23, 2025, 7:59 PM ET

Also, effective April 22, 2025, the Company has named Frank DeMaria (36) as Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Downs was appointed as President of Newtek Bank, N.A. at NewtekOne, Inc..

Action: appointed
Role: President of Newtek Bank, N.A.

Exact text from the filing

The Bank has appointed Peter Downs (60), the Company’s and Bank’s Chief Lending Officer, as President of the Bank, effective April 22, 2025;

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Nicolas Young resigned as President and Chief Operating Officer of Newtek Bank, N.A. at NewtekOne, Inc..

Action: resigned
Role: President and Chief Operating Officer of Newtek Bank, N.A.

Exact text from the filing

On April 21, 2025, Nicolas Young provided notice of his resignation as President and Chief Operating Officer of the Company’s subsidiary Newtek Bank, N.A. (the “Bank”), effective May 16, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Frank DeMaria was named as Chief Financial Officer of the Company at NewtekOne, Inc..

Action: named
Role: Chief Financial Officer of the Company

Exact text from the filing

Also, effective April 22, 2025, the Company has named Frank DeMaria (36) as Chief Financial Officer of the Company.

View on SEC.gov

NewtekOne, Inc. filing history →

Source: SEC EDGAR

accession 0001587987-25-000069

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