NewtekOne, Inc. reported significant financial performance for the second quarter of 2026, with net income reaching $14.6 million, or $0.47 per diluted share, compared to $13.7 million, or $0.52 per diluted share, in the same period last year. The company’s total revenue for the six months ended June 30, 2026, was $92.5 million, a 24.3% increase from $74.4 million in the prior year. This growth was primarily driven by a rise in net interest income, which increased to $32.2 million from $27.9 million, alongside a decrease in the provision for credit losses to $21.7 million from $22.6 million.
In terms of operational changes, NewtekOne has transitioned its lending activities to Newtek Bank, which has been granted Preferred Lender Program (PLP) status by the SBA. This shift has allowed the bank to expedite the origination of SBA 7(a) loans without prior SBA review. The company also completed two significant securitizations in 2025 and 2026, which contributed to a substantial increase in loans held for investment, at fair value, rising to $721.6 million from $281.2 million at the end of 2025. Total assets increased by 16% to $3.2 billion, while total liabilities rose by 18.1% to $2.8 billion, largely due to a $731.1 million increase in deposits.
NewtekOne's customer base has expanded, with total deposits reaching $2.2 billion, reflecting a strong demand for its deposit products, which include high-yield savings accounts and business checking accounts. The company reported a total of $2.3 billion in loans, with a notable increase in loans held for investment at amortized cost, which rose to $1.1 billion from $896.7 million. The allowance for credit losses also increased to $52.7 million, indicating a proactive approach to managing potential loan defaults.
Looking ahead, NewtekOne aims to continue leveraging its integrated business and financial solutions platform to enhance customer relationships and drive revenue growth. The company plans to focus on increasing interest income by holding more guaranteed portions of SBA 7(a) loans on its balance sheet, reducing reliance on sales in the secondary market. However, management acknowledges the potential risks posed by economic conditions, including rising interest rates and market volatility, which could impact future performance.
About NewtekOne, Inc.
NewtekOne, Inc. is a financial holding company providing business and financial solutions to U.S. small and medium-sized businesses. Its core activities include SBA 7(a) and 504 loan origination, commercial lending, payment processing, insurance, payroll, and depository services through its digital bank. Leveraging proprietary technology like NewTracker and Newtek Advantage, it offers cost-effective, integrated solutions, targeting underserved SMB markets with a focus on innovation, diversification, and efficient client acquisition.
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