---
schema_version: "secwatch.filing_event.v1"
accession: "0001587987-25-000069"
form_type: "8-K"
ticker: "NEWT"
cik: "0001587987"
company_name: "NewtekOne, Inc."
filed_at: "2025-04-23T23:59:59+00:00"
generated_at: "2026-05-23T08:07:12.154567+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001587987-25-000069
- form_type: 8-K
- ticker: NEWT
- cik: 0001587987
- company_name: NewtekOne, Inc.
- filed_at: 2025-04-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/0001587987-25-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/newt-20250423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001587987-25-000069
- JSON: https://secwatch.observer/filing/0001587987-25-000069.json
- Plain text: https://secwatch.observer/filing/0001587987-25-000069.txt

## Key facts
- Executive change
  Peter Downs was appointed as President of Newtek Bank, N.A. at NewtekOne, Inc..
  - Action: appointed
  - Role: President of Newtek Bank, N.A.
  source text: 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;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/0001587987-25-000069-index.htm
- Executive change
  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.
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/0001587987-25-000069-index.htm
- Executive change
  Frank DeMaria was named as Chief Financial Officer of the Company at NewtekOne, Inc..
  - Action: named
  - Role: Chief Financial Officer of the Company
  source text: Also, effective April 22, 2025, the Company has named Frank DeMaria (36) as Chief Financial Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000069/0001587987-25-000069-index.htm

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