Newtek Bank Boosts Loan Portfolio Optimization with Vik Mahajan as Chief Investment Officer

Newtek Bank, N.A., a subsidiary of newtekone, Inc. (NASDAQ: NEWT), has bolstered its leadership team with the appointment of Vik Mahajan as Chief Investment Officer. With over 25 years of experience in investment banking, financial services, and consulting, Mahajan brings a wealth of knowledge and contacts to the position, poised to significantly impact the bank's loan portfolio optimization and risk management strategies.

Mahajan's extensive background in capital markets and Depository and Specialty Finance investment banking will be instrumental in maximizing outcomes in the execution of loan sales, particularly in SBA 504 loans and the government-guaranteed portions of SBA 7(a) loans. His experience at iCreditWorks, where he led strategic initiatives across business expansion, commercial partnerships, and capital markets, demonstrates his ability to manage risks effectively and drive business growth.

In his new role, Mahajan will play a crucial part in sourcing loan purchase and sale opportunities, optimizing Newtek Bank's loan portfolio, and enhancing its competitive position in the market. His expertise in loan sales and sourcing opportunities will help the bank expand its loan portfolio, increase its market share, and improve its risk management and asset quality.

Mahajan's appointment comes at a time when Newtek Bank is focused on optimizing its loan portfolio and maximizing shareholder value. His leadership in sourcing loan purchase and sale opportunities, coupled with his extensive capital markets contacts and experience in Depository and Specialty Finance investment banking, will be invaluable in achieving these goals.



Barry Sloane, President, Chairman, and CEO of NewtekOne, Inc., expressed his enthusiasm about Mahajan's appointment, stating, "We are fortunate to have attracted an individual with the experience and skillset of Mr. Mahajan. As part of Newtek Bank's strategy to originate and sell SBA 504 and the government-guaranteed portions of SBA 7(a) loans, Vik will play an instrumental role in maximizing outcomes in the execution of loan sales. He will also lead efforts to source other loan purchase and sale opportunities as we optimize the Bank’s loan portfolio. Mr. Mahajan’s contacts across capital markets and his experience as a Depository and Specialty Finance investment banker should prove invaluable as we continue our journey as a financial holding company."

Mahajan, in turn, shared his excitement about joining the NewtekOne team, remarking, "I am thrilled to join the exceptional team at NewtekOne. Having known Barry and the NewtekOne platform for over 12 years from my time in investment banking, I have always admired the Company’s innovative business model. I believe that NewtekOne is uniquely positioned to deliver top-tier financial solutions to independent business owners, and I am excited to be given the opportunity to contribute to the Company’s next chapter of growth and success."

In conclusion, Vik Mahajan's appointment as Chief Investment Officer at Newtek Bank, N.A., is set to significantly enhance the bank's loan portfolio optimization and risk management strategies. His extensive capital markets contacts and experience in Depository and Specialty Finance investment banking will be invaluable in maximizing loan sales outcomes, sourcing loan purchase and sale opportunities, and strengthening Newtek Bank's competitive position in the market.