What is the market's earnings forecast for NewtekOne next quarter?

What is NewtekOne's latest dividend and current dividend yield?

What factors drove the changes in NewtekOne's revenue and profit?

What were the key takeaways from NewtekOne's earnings call?

What were the key takeaways from NewtekOne’s earnings call?

Did NewtekOne beat or miss consensus estimates last quarter?

What guidance did NewtekOne's management provide for the next earnings period?

What does NewtekOne do and what are its main business segments?

- **Record Growth**: 19% YoY revenue growth, 17% sequential deposit growth, and $11.22 tangible book value per share.
- **ALP Dominance**: Largest ever $325M-$350M securitization with 468-496bps spread, part of 17th transaction in company history.
- **Credit Resilience**: 8.1% NPL ratio (3.8% ex-NSBF), 5.42% allowance for credit losses, and 54% loans with CRE liens.
- **Capital Strength**: 12.5% leverage ratio, $80M capital boost from Series B issuance, and $95M Goldman Sachs refinancing.
- **Strategic Initiatives**: Newtek Triple Play offering, 3-year anniversary balance sheet diversification, and ALP originations targeting $500M+ in 2026.

**【CEO Summary Section】**
- Q3 2025 revenue grew 19% year-over-year, driven by 17% sequential growth in business deposits and 12% in consumer deposits, all acquired without branches or traditional bankers.
- Launched the largest Alternative Loan Program (ALP) securitization in company history ($325M-$350M), marking the 17th such transaction and 4th in this category.
- Tangible book value per share increased to $11.22 from $6.92 in Q1 2023, despite paying $0.76 annual dividend.
- NSBF (nonbank lender) loss narrowed to $14M for the first 9 months of 2025 vs. $28.7M full year 2024, with NPL inflows declining for 5 consecutive months.
- Introduced NewtekOne Triple Play offering: unsecured $10K line of credit + merchant account + payroll account for credit-approved customers.

**【CFO Financial Commentary】**
- Q3 GAAP net income: $42.3M; Non-GAAP EPS: $0.68 (basic) / $0.67 (diluted), up 47% vs. prior year.
- Efficiency ratio improved to 56.3% at holding company (vs. 61.8% prior year), with ROAA of 3.15% vs. industry average ~1.5%.
- Capital structure strengthened with $50M Series B preferred stock issuance and $95M Goldman Sachs refinancing, boosting Tier 1 capital by $80M.
- ALP securitization pipeline: Q4 2025 transaction expected to generate 468-496 basis points spread after servicing fees.

**【Q&A Highlights】**
- **Credit Trends**: NPLs at 8.1% (vs. 3.8% excluding NSBF), but stabilizing as portfolio seasons; 54% of loans have commercial real estate liens.
- **Government Shutdown Impact**: SBA 7(a) originations paused, but ALP originations unaffected; bridge loans used to maintain cash flow for ~45 days until shutdown resolution.
- **ALP Growth**: Q3 2025 originations ~$350M, targeting $500M+ in 2026; 13.17% gross coupon vs. 5-year Treasury + 775bps spread.
- **Capital Allocation**: 24-month lockup on $30M Patriot Financial investment; prioritizing balance sheet utilization over dividend increases.
- **Regulatory Environment**: No regulatory push for higher capital ratios, despite unconventional business model; management team maintains ~95% retention rate since bank acquisition.


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