NewtekOne (NEWT) investor relations material

Executive summary

• Achieved record 2025 earnings and revenue growth, with basic and diluted EPS of $2.21 and $2.18, up 12% and 11% year-over-year; 4Q25 EPS was $0.65.

• Net income before taxes for 2025 was $80 million, up 16.4% year-over-year; net income was $58.2 million, up 18%.

• Book value per share and tangible book value per share ended 2025 at $12.19 and $11.68, up 16% and 24% year-over-year.

• Opened over 9,000 new depository accounts in Q4, reaching 34,000 active accounts, with business and consumer deposits up 70% and 40% year-over-year.

• Celebrated three-year anniversary of operating as a technology-enabled financial holding company, with significant expansion since the 2023 acquisition of National Bank of New York City.

Financial highlights

• Total revenue for 2025 was $284.8 million, up 11% from 2024.

• Pre-provision net revenue (PPNR) for 2025 was $118.7 million, a 25% increase year-over-year.

• Efficiency ratio improved to 58.3% in 2025 from 63.2% in 2024, with operating expenses up just 2% on 33% asset growth.

• Return on average assets (ROAA) was 2.78% for 2025; return on average equity (ROAE) was 16.6%; ROTCE was 19.0%.

• Tangible book value per share increased 4% sequentially and 24% year-over-year, up 69% since conversion.

Outlook and guidance

• 2026 EPS guidance set at $2.15–$2.55, midpoint $2.35, reflecting continued growth expectations.

• Projected 2026 originations: $1B SBA 7(a), $500M ALP/C&I, $175M SBA 504, $150M net growth in C&I/CRE portfolios.

• Book value per share expected to reach $13.49–$13.89 and tangible book value per share $12.98–$13.38 in 2026.

• Management expects continued diversification of the loan portfolio and further digital banking expansion.

• Expect further decline in NSBF losses, with continued stabilization in credit quality.