NewtekOne (NEWT) investor relations material

Executive summary

• Achieved Q1 2026 EPS of $0.43, up 19% basic and 23% diluted year-over-year, exceeding consensus and within guidance; net income before taxes rose 46.7% to $17.1 million.

• Book value per share reached $12.36 and tangible book value $11.85, up over 15% year-over-year and 71% since Jan. 2023 conversion.

• Deposits nearly doubled year-over-year to almost $1.9 billion, with over 10,000 new accounts opened in Q1 2026 and total accounts exceeding 37,000.

• Technology-driven banking for SMBs, including real-time payments and AI-enabled loan processing, fueled efficiency and record origination volumes.

• Continued wind-down of legacy non-bank lender portfolio, with accruing NSBF SBA 7(a) loans down 30% year-over-year.

Financial highlights

• Total revenue for Q1 2026 was $71.0 million, up 7% from Q1 2025; net interest income rose 23.6% to $17.2 million.

• Return on average assets was 1.96% for Q1 2026, up from 1.81% in Q1 2025.

• Return on average tangible common equity was 14.8% for Q1 2026.

• Efficiency ratio was 62% for Q1 2026, with Newtek Bank's efficiency ratio improving to 40%.

• Gain on sale of SBA 7(a) loans was $26.7 million at a premium of $110.5.

Outlook and guidance

• 2026 EPS guidance range reaffirmed at $2.15–$2.55, with midpoint at $2.35; 2027 EPS midpoint set at $2.60 and targeting 10% growth.

• 2026 revenue projected at $315–$345 million; net income guidance $62–$74 million.

• Loan origination goal for 2026 set at $1.8 billion, with specific targets for SBA 7(a), ALP, SBA 504, and C&I/CRE.

• Expect continued double-digit loan growth and further deposit expansion.

• Next C&I LA securitization targeted for Q4 2026, aiming for a $400–$500 million collateral pool.