7Baggers

Newtek Business Services Corp
(NASDAQ:NEWT) 

NEWT stock logo

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investm...

Full Time Employees: 109
Sector: Financial Services
Industry: Asset Management
Financial Services
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At a glance:
Bull Thesis:
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Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 
                     
      interest income
    		           2,415,000 2,153,000 2,231,000 2,125,000 -3,742,000 1,689,000 
      debt securities available-for-sale
    		200,000 214,000 276,000 350,000 334,000 374,000 460,000  436,000 415,000 232,000       
      loans and fees on loans
    		36,376,000 33,354,000 34,483,000 3,655,000 28,588,000 26,773,000 24,985,000  23,232,000 19,607,000 17,502,000       
      other interest earning assets
    		2,518,000 2,950,000 3,131,000 2,677,000 2,349,000 2,206,000 1,622,000  3,068,000 2,531,000 981,000       
      total interest income
    		39,094,000 36,518,000 37,890,000 6,682,000 31,271,000 29,353,000 27,067,000  26,736,000 22,553,000 18,715,000       
      interest expense
    		                 
      deposits
    		10,879,000 9,357,000 9,845,000 -3,906,000 7,314,000 6,865,000 5,576,000  5,212,000 4,051,000 1,475,000       
      notes and securitizations
    		10,710,000 10,908,000 10,974,000 6,790,000 11,482,000 11,118,000 10,827,000  11,005,000 9,083,000 8,718,000       
      bank and fhlb borrowings
    		2,956,000 2,330,000 3,138,000 6,177,000 1,494,000 2,244,000 1,758,000  2,442,000 3,746,000 3,939,000       
      total interest expense
    		24,545,000 22,595,000 23,957,000 9,061,000 20,290,000 20,227,000 18,161,000  18,659,000 16,880,000 14,132,000       
      net interest income
    		14,549,000 13,923,000 13,933,000 -2,379,000 10,981,000 9,126,000 8,906,000  8,077,000 5,673,000 4,583,000       
      provision for credit losses
    		7,712,000 9,117,000 13,505,000 -5,038,000 6,928,000 5,799,000   3,446,000         
      net interest income after provision for credit losses
    		6,837,000 4,806,000 428,000 2,659,000 4,053,000 3,327,000   4,631,000         
      noninterest income
    		                 
      dividend income
    		425,000 600,000 1,686,000 629,000 374,000 368,000 386,000  388,000 505,000 504,000 4,251,000 3,093,000 1,787,000 1,087,000   
      net loss on loan servicing assets
    		-4,493,000 -4,355,000 -3,652,000               
      servicing income
    		6,076,000 6,054,000 5,525,000 3,367,000 4,958,000 4,607,000 5,357,000   4,299,000 4,403,000 1,238,000 1,262,000 1,068,000 1,043,000   
      net gains on sales of loans
    		9,563,000 15,526,000 12,961,000 -17,064,000 25,675,000 22,564,000 20,292,000  12,718,000 13,208,000 6,526,000       
      net gain on residuals in securitizations
    		-1,450,000 31,465,000                
      net gain on loans under the fair value option
    		29,250,000 -11,761,000 18,077,000 22,189,000 -4,085,000 -2,894,000 2,798,000  2,809,000         
      technology and it support income
    		   10,661,000 3,311,000 5,174,000 5,770,000  5,499,000 6,459,000 6,709,000       
      electronic payment processing income
    		11,053,000 11,739,000 10,609,000 7,446,000 11,777,000 12,645,000 10,987,000  11,192,000 10,676,000 10,328,000       
      other noninterest income
    		9,964,000 7,007,000 7,192,000 -4,795,000 11,627,000 11,418,000 5,512,000  7,643,000 6,080,000 5,986,000       
      total noninterest income
    		60,388,000 56,275,000 52,398,000 23,534,000 51,851,000 52,020,000 49,367,000  42,900,000 46,428,000 42,787,000       
      noninterest expense
    		                 
      salaries and employee benefits expense
    		19,973,000 23,135,000 21,316,000 5,263,000 19,149,000 20,790,000 20,506,000  15,300,000 19,418,000 19,119,000       
      technology services expense
    		   5,648,000 1,796,000 3,420,000 3,408,000  2,738,000 3,466,000 3,803,000       
      electronic payment processing expense
    		4,429,000 4,428,000 4,447,000 3,350,000 4,438,000 5,693,000 4,846,000  4,817,000 4,838,000 4,504,000       
      professional services expense
    		3,793,000 4,304,000 3,435,000 1,840,000 3,929,000 2,743,000 4,565,000  3,170,000 3,156,000 3,440,000       
      other loan origination and maintenance expense
    		6,764,000 3,287,000 4,417,000 42,000 4,132,000 3,015,000 2,244,000  3,405,000 3,559,000 2,827,000       
      depreciation and amortization
    		129,000 274,000 146,000 1,314,000 517,000 521,000 532,000  812,000 832,000 873,000 69,000 87,000 85,000 85,000 -2,625,000 917,000 
      loss on extinguishment of debt
    		179,000                 
      other general and administrative costs
    		6,892,000 6,881,000 7,416,000 8,031,000 4,886,000 4,382,000 5,058,000  4,303,000 4,911,000 4,631,000 3,846,000 3,134,000 2,955,000 2,762,000 -13,438,000 5,259,000 
      total noninterest expense
    		42,159,000 42,309,000 41,177,000 25,759,000 38,847,000 40,564,000 41,159,000  34,545,000 40,180,000 39,197,000       
      net income before taxes
    		25,066,000 18,772,000 11,649,000 434,000 17,057,000 14,783,000 13,099,000  12,986,000 9,346,000        
      income tax expense
    		7,165,000 5,069,000 2,282,000 -14,366,000 5,123,000 3,838,000   3,011,000 2,524,000 -4,863,000       
      net income
    		17,901,000 13,703,000 9,367,000 14,800,000 11,934,000 10,945,000 9,650,000  9,975,000 6,822,000 11,718,000     1,333,500 2,589,000 
      yoy
    		50.00% 25.20% -2.93%  19.64% 60.44% -17.65%  NaN% NaN% NaN%  NaN%     
      qoq
    		30.64% 46.29% -36.71% 24.02% 9.04% 13.42%   46.22% -41.78%   NaN% NaN% NaN% -48.49%  
      dividends to preferred shareholders
    		-472,000 -400,000 -400,000 -254,000 -400,000 -400,000 -400,000  -400,000         
      net income available to common shareholders
    		17,429,000 13,303,000 8,967,000 14,546,000 11,534,000 10,545,000 9,250,000  9,575,000  11,469,000       
      earnings per common share:
    		                 
      basic
    		680 530 360 630 450 430 380  380         
      diluted
    		670 520 350 620 450 430 380  380         
      loan servicing asset revaluation
    		   -1,345,750 -1,786,000 -1,862,000 -1,735,000  -1,951,000 -534,000 919,000       
      benefit from credit losses
    		      4,015,000           
      net interest income after benefit from credit losses
    		      4,891,000           
      income tax benefit
    		      3,449,000           
      interest from affiliates
    		                 
      notes payable related party
    		                 
      servicing income, net of amortization
    		        4,602,000         
      provision for loan credit losses
    		         2,575,000 1,318,000       
      net interest income after provision for loan credit losses
    		         3,098,000 3,265,000       
      net gain on derivative transactions
    		         674,000 -495,000       
      net gain on loans accounted for under the fair value option
    		         4,363,000 5,905,000       
      net unrealized appreciation (depreciation) on joint ventures
    		         698,000 2,002,000       
      net unrealized appreciation on controlled investments
    		           2,572,250 770,000 2,019,000    
      less: net loss attributable to noncontrolling interests
    		         -31,000        
      income before taxes
    		          6,855,000       
      less dividends to preferred shareholders
    		          -249,000       
      investment income:
    		                 
      from non-affiliate investments:
    		                 
      other income
    		           598,000 472,000 464,000 395,000 -2,836,000 1,052,000 
      total investment income from non-affiliate investments
    		           4,251,000 3,887,000 3,763,000    
      from controlled investments:
    		                 
      total investment income from controlled investments
    		           4,425,000 3,151,000 1,843,000    
      total investment income
    		           8,676,000 7,038,000 5,606,000 4,750,000   
      operating revenues:
    		                 
      electronic payment processing
    		               16,866,750 22,777,000 
      web hosting and design
    		               2,960,000 3,739,000 
      premium income
    		               3,982,500 5,801,000 
      servicing fee income – nsbf portfolio
    		               665,250 915,000 
      servicing fee income – external portfolios
    		               1,312,000 1,711,000 
      income from tax credits
    		               9,750 11,000 
      insurance commissions
    		               318,000 471,000 
      total operating revenues
    		               28,095,250 38,166,000 
      net change in fair value of:
    		                 
      sba loans
    		               -410,000 -493,000 
      credits in lieu of cash and notes payable in credits in lieu of cash
    		               -500 -2,000 
      total net change in fair value
    		               -410,500 -495,000 
      expenses:
    		                 
      electronic payment processing costs
    		               14,271,000 19,147,000 
      salaries and benefits
    		           3,153,000 3,444,000 3,133,000 3,023,000 -18,324,000 6,481,000 
      interest
    		           1,531,000 1,864,000 1,728,000 1,356,000 -5,987,000 1,330,000 
      benefit from loan losses
    		                 
      total expenses
    		           8,599,000 8,529,000 7,901,000 7,226,000   
      net investment loss
    		           -1,565,500 -1,491,000 -2,295,000 -2,476,000   
      net realized and unrealized gains
    		           6,472,500 6,240,000 7,171,000 12,479,000   
      net realized gain on non-affiliate investments
    		           5,414,750 6,620,000 7,340,000 7,699,000   
      net unrealized depreciation on sba guaranteed non-affiliate investments
    		           -802,500 -48,000 -1,464,000 -1,698,000   
      net unrealized depreciation on sba unguaranteed non-affiliate investments
    		           -416,750 -531,000 -470,000 -666,000   
      net unrealized depreciation on servicing assets
    		           -294,250 -565,000 -256,000 -356,000   
      net unrealized depreciation on credits in lieu of cash and notes payable in credits in lieu of cash
    		           -1,000 -6,000     
      income before income taxes
    		               2,257,000 4,523,000 
      net increase in net assets
    		           4,907,000 4,749,000 4,876,000 10,003,000   
      benefit from income taxes
    		                 
      net income attributable to non-controlling interests
    		               23,750 55,000 
      net income attributable to newtek business services corp.
    		                 
      weighted-average common shares outstanding:
    		                 
      basic
    		                 
      diluted
    		                 
      basic income per share
    		                 
      diluted income per share
    		                 
      net increase in net assets per share
    		           0.48 0.46 0.48 0.98   
      net investment loss per share
    		           -0.153 -0.14 -0.22 -0.24   
      dividends and distributions declared per common share
    		           0.215  0.47 0.39   
      weighted-average shares outstanding
    		            10,318 10,206 10,206 7,620  
      from non-affiliate investments
    		                 
      from controlled investments
    		                 
      provision for loan losses
    		               -13,000 14,000 
      net realized and unrealized gain:
    		                 
      net unrealized appreciation on credits in lieu of cash and notes payable in credits in lieu of cash
    		             2,000    
      provision for income taxes
    		               923,500 1,934,000 
      net loss attributable to non-controlling interests
    		                 
      from non-controlled/non-affiliate investments
    		                 
      total investment income from non-controlled/non-affiliate investments
    		              3,563,000   
      from controlled/affiliate investments
    		                 
      total investment income from controlled/affiliate investments
    		              1,187,000   
      net unrealized appreciation on affiliate investments
    		              7,500,000   
      operating revenues
    		                 
      operating expenses:
    		                 
      total operating expenses
    		               25,427,750 33,148,000 
      net income attributable to newtek business services, inc.
    		               1,357,250 2,644,000 
      weighted-average common shares outstanding – basic
    		                7,463,000 
      weighted-average common shares outstanding – diluted
    		                7,699,000 
      earnings per share – basic
    		               0.188 0.35 
      earnings per share – diluted
    		               0.178 0.34 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2015-06-30 2015-03-31 2014-09-30 
                    
        assets
      		              
        cash and due from banks
      		3,980,000 10,124,000 10,201,000 6,941,000 9,688,000 36,909,000 12,295,000 15,398,000 15,610,000 48,673,000 27,349,000    
        restricted cash
      		24,737,000 23,152,000 24,151,000 28,226,000 27,929,000 36,832,000 35,759,000 30,919,000 70,737,000 66,741,000 72,599,000   15,465,000 
        interest bearing deposits in banks
      		188,214,000 180,013,000 259,782,000 346,207,000 152,805,000 132,597,000 115,152,000 137,689,000 137,346,000 140,920,000 97,196,000    
        total cash and cash equivalents
      		216,931,000 213,289,000 294,134,000 381,374,000 190,422,000 206,338,000 163,206,000 184,006,000 223,693,000 256,334,000 197,144,000    
        debt securities available-for-sale, at fair value
      		18,009,000 14,245,000 14,127,000 23,916,000 23,790,000 28,418,000 28,127,000 32,171,000 33,138,000 32,907,000 32,905,000    
        loans held for sale, at fair value
      		757,001,000 514,609,000 547,958,000 372,286,000 242,225,000 179,739,000 187,104,000 118,867,000 70,467,000 106,231,000 125,639,000    
        loans held for sale, at lcm
      		28,678,000 32,291,000 35,849,000 58,803,000 60,203,000 59,402,000 59,880,000 56,607,000 48,450,000      
        loans held for investment, at fair value
      		305,720,000 326,113,000 346,794,000 369,746,000 394,471,000 415,893,000 442,928,000 469,801,000 492,987,000 512,418,000 532,788,000    
        loans held for investment, at amortized cost, net of deferred fees and costs
      		834,087,000 767,827,000 711,166,000 621,651,000 518,489,000 451,829,000 397,625,000 336,305,000 280,934,000 218,265,000 166,828,000    
        allowance for credit losses
      		-45,166,000 -42,625,000 -38,649,000 -30,233,000 -26,045,000 -21,098,000 -16,126,000 -12,574,000 -8,209,000 -4,764,000 -2,189,000    
        loans held for investment, at amortized cost
      		788,921,000 725,202,000 672,517,000 591,418,000 492,444,000 430,731,000 381,499,000 323,731,000 272,725,000 213,501,000     
        federal home loan bank and federal reserve bank stock
      		4,064,000 3,937,000 3,862,000 3,585,000 3,608,000 3,765,000 3,773,000 3,635,000 3,657,000 3,012,000 1,288,000    
        settlement receivable
      		469,000 19,705,000 6,089,000 52,465,000 62,117,000 79,928,000 56,890,000 62,230,000 63,957,000 119,857,000 41,438,000    
        residuals in securitizations, at fair value
      		76,701,000 77,701,000             
        joint ventures and other non-control investments, at fair value (cost of 36,692 and 44,039), respectively
      		51,390,000              
        goodwill and intangibles
      		14,633,000 14,672,000 14,711,000 14,752,000 14,794,000 29,783,000 29,944,000 30,120,000 27,157,000 27,595,000 28,101,000    
        right of use assets
      		2,292,000 2,384,000 5,268,000 5,688,000 3,992,000 5,110,000 5,193,000 5,701,000 5,991,000 7,002,000 7,492,000    
        servicing assets, at fair value
      		17,023,000 18,384,000 20,215,000 22,062,000           
        servicing assets, at lcm
      		30,540,000 31,831,000 24,410,000 24,195,000           
        other assets
      		86,727,000 63,543,000 81,561,000 60,636,000 62,984,000 60,778,000 58,169,000 56,102,000 50,688,000 48,593,000 50,347,000    
        assets held for sale
      		   21,308,000 20,519,000          
        total assets
      		2,399,099,000 2,126,217,000 2,136,737,000 2,059,912,000 1,674,170,000 1,617,004,000 1,509,577,000 1,429,513,000 1,380,413,000 1,439,111,000 1,249,739,000 26,968 11,294 203,186,000 
        newtekone, inc. and subsidiaries consolidated statements of financial condition
      		              
        liabilities and shareholders’ equity
      		              
        liabilities:
      		              
        deposits:
      		              
        noninterest-bearing
      		21,771,000 41,034,000 11,920,000 11,142,000 11,040,000 4,921,000 5,466,000 10,053,000 20,316,000 38,233,000 22,878,000    
        interest-bearing
      		1,156,193,000 1,042,794,000 954,401,000 961,910,000 638,418,000 605,504,000 507,476,000 453,452,000 412,243,000 409,124,000 224,696,000    
        total deposits
      		1,177,964,000 1,083,828,000 966,321,000 973,052,000 649,458,000 610,425,000 512,942,000 463,505,000 432,559,000 447,357,000 247,574,000    
        borrowings
      		748,549,000 657,327,000 773,991,000 708,041,000 655,834,000 651,972,000 662,488,000 644,122,000 648,700,000 697,387,000 697,395,000    
        dividends payable
      		5,387,000 5,236,000 5,235,000 5,233,000 5,237,000 5,247,000 5,038,000 4,792,000 4,769,000 4,766,000     
        lease liabilities
      		2,322,000 2,409,000 6,012,000 6,498,000 4,883,000 6,225,000 6,344,000 6,952,000 7,343,000 8,552,000 9,144,000    
        deferred tax liabilities
      		5,343,000  5,041,000 2,244,000 4,700,000      3,519,000    
        due to participants
      		35,047,000 25,886,000 35,580,000 21,532,000 22,217,000 22,407,000 26,647,000 23,796,000 21,235,000 19,820,000 28,188,000    
        accounts payable, accrued expenses and other liabilities
      		37,780,000 39,351,000 42,277,000 40,806,000 45,092,000 46,726,000 41,986,000 37,300,000 38,784,000 40,501,000 45,257,000   17,670,000 
        liabilities directly associated with assets held for sale
      		   6,224,000 4,964,000          
        total liabilities
      		2,012,392,000 1,814,037,000 1,834,457,000 1,763,630,000 1,392,385,000 1,343,002,000 1,255,445,000 1,180,467,000 1,153,390,000 1,218,383,000 1,031,701,000 22,391 7,139 119,953,000 
        commitment and contingencies
      		              
        shareholders' equity:
      		              
        series a preferred stock
      		              
        series b preferred stock
      		48,181,000              
        common stock
      		577,000 525,000 527,000 526,000 520,000 517,000 493,000 492,000 491,000 491,000 491,000    
        retained earnings
      		81,981,000 69,995,000 61,538,000 57,773,000 44,834,000 38,251,000 32,611,000 28,051,000 14,267,000  7,047,000   19,967,000 
        additional paid-in capital
      		255,963,000 221,914,000 220,468,000 218,266,000 216,662,000 215,633,000 201,431,000 200,913,000 192,711,000  191,316,000   61,988,000 
        accumulated other comprehensive income, net of income taxes
      		5,000 8,000 9,000 -21,000 31,000          
        total shareholders' equity
      		386,707,000 312,180,000 302,280,000 296,282,000 281,785,000 274,002,000 254,132,000        
        total liabilities and shareholders' equity
      		2,399,099,000 2,126,217,000 2,136,737,000 2,059,912,000 1,674,170,000 1,617,004,000 1,509,577,000        
        joint ventures and other non-control investments, at fair value (cost of 54,493 and 44,039), respectively
      		 68,121,000 69,242,000            
        deferred tax asset
      		 190,000    1,943,000 2,717,000 5,230,000 8,656,000 4,622,000 8,225,000   4,487,000 
        preferred stock
      		 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000 19,738,000    
        joint ventures and other non-control investments, at fair value (cost of 44,039 and 38,660), respectively
      		   57,678,000           
        joint ventures, at fair value (cost of 43,321 and 37,864), respectively
      		    55,750,000          
        non-control investments (cost of 680 and 796), respectively
      		    740,000 740,000         
        servicing assets
      		    46,111,000 44,633,000 41,172,000 39,725,000 36,774,000 35,754,000 33,351,000    
        joint ventures, at fair value (cost of 63,506 and 37,864), respectively
      		     69,803,000         
        accumulated other comprehensive loss, net of income taxes
      		     -137,000 -141,000 -148,000 -184,000      
        joint ventures, at fair value (cost of 45,108 and 37,864), respectively
      		      48,247,000        
        non-control investments (cost of 772 and 796), respectively
      		      728,000        
        joint ventures, at fair value (cost of 37,864 and 23,314), respectively
      		       40,859,000       
        controlled investments (cost of 0 and 131,495), respectively
      		              
        non-control investments (cost of 796 and 1,360), respectively
      		       728,000       
        joint ventures, at fair value (cost of 37,865 and 23,314), respectively
      		        40,713,000      
        non-control investments (cost of 1,360 and 1,360), respectively
      		        1,360,000 1,360,000 1,360,000    
        loans held for sale, at amortized cost
      		         41,641,000     
        joint ventures, at fair value (cost of 25,315 and 23,314), respectively
      		         27,722,000     
        derivative instruments
      		         562,000 624,000    
        liabilities and net assets
      		              
        total loans held for investment, at amortized cost
      		          164,639,000    
        joint ventures, at fair value (cost of 23,314 and 23,314), respectively
      		          25,022,000    
        current assets
      		           24,329 8,642  
        noncurrent assets
      		           2,639 2,652  
        current liabilities
      		           5,959 5,951  
        noncurrent liabilities
      		           16,432 1,188  
        total equity
      		           4,577 4,155 83,233,000 
        statements of income - universal processing services of wisconsin, llc
      		              
        revenue
      		            23,087  
        expenses
      		            21,671  
        income from operations
      		            1,416  
        interest income
      		            2  
        net income
      		            1,418  
        cash and cash equivalents
      		             4,402,000 
        broker receivable
      		             10,727,000 
        sba loans held for investment
      		             8,944,000 
        sba loans held for investment, at fair value
      		             102,828,000 
        accounts receivable
      		             10,776,000 
        sba loans held for sale, at fair value
      		             3,426,000 
        prepaid expenses and other assets
      		             14,417,000 
        servicing asset
      		             8,295,000 
        fixed assets
      		             3,437,000 
        intangible assets
      		             1,330,000 
        credits in lieu of cash
      		             2,560,000 
        goodwill
      		             12,092,000 
        liabilities and equity
      		              
        notes payable
      		             45,590,000 
        note payable – securitization trust vie
      		             52,319,000 
        capital lease obligation
      		             467,000 
        deferred revenue
      		             1,347,000 
        notes payable in credits in lieu of cash
      		             2,560,000 
        commitments and contingencies
      		              
        equity:
      		              
        newtek business services, inc. shareholders’ equity:
      		              
        preferred shares
      		              
        common shares
      		             151,000 
        treasury shares, at cost
      		             -410,000 
        total newtek business services, inc. shareholders’ equity
      		             81,696,000 
        non-controlling interests
      		             1,537,000 
        total liabilities and equity
      		             203,186,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2014-09-30 
                        
          cash flows from operating activities:
        		                
          net income
        		17,901,000 13,703,000 9,367,000  11,934,000 10,945,000 9,650,000 18,784,000 9,974,000 6,853,000 11,718,000      
          adjustments to reconcile net income to net cash from operating activities:
        		                
          net unrealized depreciation (appreciation) on joint ventures and non-control investments
        		                
          net loss on loans accounted for under the fair value option
        		-29,250,000 11,761,000 -18,077,000  4,085,000   -5,420,000   -5,905,000      
          net gain on residuals in securitizations
        		1,450,000                
          net loss on loan servicing assets
        		4,493,000                
          net unrealized depreciation (appreciation) on warrants and derivative transactions
        		-1,041,000 -256,000 1,724,000              
          net gain on sales of loans
        		-9,563,000 -15,526,000 -12,961,000  -25,675,000 -22,564,000 -20,292,000          
          net accretion of premium/discount on debt securities available-for-sale and loans
        		-372,000                
          loss on extinguishment of debt, deferred financing costs expensed
        		                
          amortization of deferred financing costs and deferred loan fees and costs
        		1,129,000                
          provision for credit losses
        		7,712,000 9,117,000 13,505,000  6,928,000   4,365,000         
          lower of cost or market adjustment on loans held for sale
        		-38,000    -156,000 -138,000 221,000          
          bad debt expense, net of recoveries
        		198,000 0 85,000              
          stock compensation expense
        		618,000 1,556,000 1,834,000  918,000 662,000 681,000 799,000 593,000        
          deferred income tax expense
        		5,536,000 -5,230,000 2,791,000  8,185,000 774,000 2,513,000 4,134,000         
          depreciation and amortization
        		129,000 274,000 146,000  517,000 521,000 532,000 367,000 812,000 832,000 873,000 40,000    2,668,000 
          proceeds from sale of loans held for sale
        		92,979,000 74,334,000 142,933,000  206,958,000 206,896,000 184,332,000 162,344,000 375,940,000 35,602,000 121,575,000      
          sale of loans held for sale from affiliate
        		    32,559,000            
          funding of loans held for sale
        		-269,560,000 -260,954,000 -247,439,000  -282,996,000 -260,921,000 -255,727,000 -250,042,000 -333,249,000 -43,002,000 -156,742,000      
          principal received on loans held for sale
        		1,667,000 2,811,000 2,797,000  5,379,000 7,490,000 1,638,000 4,031,000 2,045,000 4,812,000 1,347,000      
          other
        		99,000 -1,497,000 253,000      -171,000 -1,049,000 739,000 111,000  993,000 -1,074,000 1,063,000 
          changes in operating assets and liabilities:
        		                
          settlement receivable
        		19,237,000 -13,617,000 46,376,000  17,810,000 -23,038,000 5,340,000 1,727,000 55,900,000 -78,430,000 -41,427,000      
          other assets
        		-14,746,000 17,819,000 -19,170,000  -148,000 -3,515,000 -1,430,000 -29,000 2,485,000 -1,679,000 6,655,000 -52,000     
          due to participants
        		9,162,000 -9,695,000 14,049,000  -190,000 -4,241,000 2,852,000 2,560,000 1,415,000 -8,360,000 -7,447,000      
          accounts payable, accrued expenses and other liabilities
        		-5,854,000 177,000 -1,176,000  -6,083,000 4,277,000 4,955,000 1,530,000 -1,578,000 -1,901,000 -20,603,000      
          net cash from operating activities
        		-167,318,000 -199,814,000 -60,704,000 -91,595,000 -25,668,000 2,923,000 -38,674,000 -52,529,000 88,162,000 -88,493,000 -116,359,000 8,793,000 -16,962,000 -24,422,000 -12,901,000 16,334,000 
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 
          free cash flows
        		-167,318,000 -199,814,000 -60,704,000 -91,595,000 -25,668,000 2,923,000 -38,674,000 -52,529,000 88,162,000 -88,493,000 -116,359,000 8,793,000 -16,962,000 -24,422,000 -12,901,000 16,334,000 
          newtekone, inc. and subsidiaries
        		                
          consolidated statements of cash flows
        		                
          cash flows from investing activities:
        		                
          principal received on loans held for investment, at fair value
        		                
          repurchases of loans held for investment, at fair value
        		                
          net increase in loans held for investment, at cost
        		-71,166,000 -60,938,000 -110,671,000 -99,521,000 -62,077,000 -54,818,000 -62,123,000 -53,035,000 -106,506,000 -9,731,000 269,000      
          proceeds from sale of newtek technology solutions, inc.
        		0 0 4,000,000              
          contributions to joint ventures and other non-control investments
        		-15,750,000                
          return of capital from joint ventures and other non-control investments
        		5,630,000 0 14,000              
          purchase of fixed assets
        		-5,000 -54,000 -37,000 -64,000 -247,000 -71,000 -57,000 -165,000 -164,000 36,000 -165,000 -76,000     
          sales of federal home loan bank and federal reserve bank stock
        		                
          purchases of federal home loan bank and federal reserve bank stock
        		                
          purchases of available-for-sale securities
        		       967,000 -231,000 -2,000 -27,901,000      
          maturities of available-for-sale securities
        		4,000,000 2,000,000 12,000,000              
          net cash from investing activities
        		-69,800,000 -44,831,000 -79,245,000 -86,218,000 -25,070,000 -53,958,000 -43,805,000 -49,218,000 -50,471,000 -48,648,000 -23,898,000  395,000 -23,000 25,087,000 -25,157,000 
          cash flows from financing activities:
        		                
          borrowing on bank notes payable
        		                
          repayment on bank notes payable
        		                
          net increase in deposits
        		94,136,000 117,249,000 -7,001,000 323,594,000 38,727,000 97,158,000 49,098,000 29,161,000 -14,798,000 204,409,000 105,933,000      
          repayment of federal home loan bank advances
        		-509,000 -3,504,000 -3,500,000 -522,000 -3,466,000 -487,000 -3,484,000 -559,000 -449,000 -188,000 -3,699,000      
          proceeds from common shares sold, net of offering costs
        		   0 -1,000            
          proceeds from preferred stock, net of offering costs
        		       0 0 0 19,493,000      
          securities purchase and exchange agreement
        		                
          repurchase of common shares under share repurchase plan
        		0                
          redemption of 2024 notes
        		   0             
          maturity of 2025 5.00% notes
        		0 0 -30,000,000              
          proceeds from 2029 8.50% notes
        		   0             
          proceeds from 2029 8.625% notes
        		   0             
          proceeds from 2030 notes
        		0 0 30,000,000              
          purchase of 2029 8.50% notes
        		                
          payments on notes payable - securitization trusts
        		-17,075,000 -13,569,000 -16,027,000 -38,070,000 -19,539,000 -26,429,000 -22,954,000 -21,862,000 -23,020,000 -14,883,000 -31,015,000 -5,891,000     
          proceeds related to residuals in securitizations
        		99,322,000                
          dividends paid, net of dividend reinvestment plan
        		-5,708,000 -5,235,000 -5,233,000 -5,237,000 -5,227,000 -5,017,000 -4,771,000 -4,769,000 -4,766,000        
          payments of deferred financing costs
        		-2,210,000 -14,000 -710,000 -972,000 -2,516,000 -2,527,000 -24,000 -94,000         
          proceeds from common stock issued under espp, net of discount
        		                
          purchase of vested stock for employee payroll tax withholding
        		-1,067,000 -24,000 -46,000 0 -46,000    -73,000        
          net cash from financing activities
        		240,760,000 163,800,000 52,709,000 368,765,000 36,286,000 94,167,000 61,679,000 29,486,000 -70,332,000 198,921,000 186,899,000 -9,411,000  21,451,000 -15,801,000 717,000 
          net increase in cash and restricted cash
        		3,642,000   190,952,000 -14,452,000 43,132,000 -20,800,000 -72,261,000 -32,641,000 61,780,000 46,642,000      
          cash and restricted cash—beginning of period
        		0 0 381,374,000 0 0 0 184,006,000 0 0 0 125,606,000      
          deconsolidation of cash and restricted cash from controlled investments related to business dispositions
        		                
          cash and restricted cash—end of period
        		3,642,000 -80,845,000 294,134,000 190,952,000 -15,916,000 43,132,000 163,206,000 -39,687,000 -32,641,000 59,190,000 197,144,000      
          net unrealized depreciation (appreciation) on joint ventures
        		                
          net decrease in loans held for investment, at fair value
        		 16,290,000 17,702,000 13,580,000 12,027,000   17,090,000         
          net increase in federal home loan bank and federal reserve bank stock
        		 -75,000 -277,000              
          sales (purchases) of available-for-sale securities
        		 -1,969,000 -1,976,000              
          net borrowings (paydowns) on bank notes payable
        		                
          proceeds from common stock issued under espp
        		 109,000 48,000 67,000 32,000            
          non-cash operating, investing and financing activities:
        		                
          foreclosed real estate acquired
        		 3,289,000 705,000  279,000 525,000 1,447,000 783,000 -23,000 1,524,000 694,000 83,000  119,000   
          dividends declared but not paid during the period
        		 11,000 5,235,000  410,000 210,000 4,617,000 0 -3,000 3,000 4,363,000      
          ipm stock acquired
        		 0 8,200,000              
          ipm earn-out
        		 0 2,268,000              
          supplemental disclosure of cash flow information:
        		                
          interest paid
        		 21,449,000 24,788,000  22,076,000 18,415,000 19,079,000 -39,174,000         
          income taxes paid
        		 923,000 4,000  3,878,000 3,264,000 73,000          
          net appreciation on joint ventures and other non-control investments
        		  -1,110,000              
          loan servicing asset revaluation
        		  3,652,000  1,786,000            
          net accretion of premium/discount
        		  -905,000  -451,000 -52,000 -61,000 1,295,000         
          amortization of deferred financing costs
        		  983,000  1,058,000 1,109,000 987,000 1,024,000 1,101,000 678,000 1,249,000 271,000     
          income tax payable
        		  -519,000              
          due to/from related parties
        		  156,000  -42,000   226,000 -576,000 148,000 37,000 97,000 157,000    
          dividends payable
        		  2,000  -10,000 209,000 246,000 7,000 3,000        
          net borrowings on bank notes payable
        		  85,178,000    43,814,000    47,274,000      
          net decrease in cash and restricted cash
        		  -87,240,000              
          net decrease in federal home loan bank and federal reserve bank stock
        		                
          acquisitions, net of cash acquired
        		       -110,000 0 0 11,252,000      
          net repayments under related party line of credit
        		                
          proceeds from 2025 5.00% notes
        		                
          proceeds from 2025 8.125% notes
        		       0 0 0 50,000,000      
          proceeds from 2028 8.00% notes
        		       0         
          redemption of 2025 6.85% notes
        		                
          issuance of notes payable - securitization trusts
        		       0 2,496,000        
          retirement of common shares
        		                
          consolidation/(deconsolidation) of cash and restricted cash from controlled investments related to business combinations and dispositions, net of cash paid
        		   0             
          net appreciation on joint ventures and non-control investments
        		    -6,132,000 -3,261,000 -169,000          
          net unrealized appreciation on derivative transactions
        		    -356,000    125,000        
          bad debt (recoveries) expense
        		                
          contributions to joint ventures
        		    20,185,000 -18,399,000 -7,243,000 0 -12,550,000        
          return of capital - non-control investments
        		    0 92,000 24,000          
          net decrease in federal home loan and federal reserve bank stock
        		                
          net decrease in available-for-sale securities
        		                
          net paydowns on bank notes payable
        		    -8,428,000            
          issuance of common shares under dividend reinvestment plan
        		       0 73,000 74,000 72,000      
          bad debt expense
        		                
          net increase in federal home loan and federal reserve bank stock
        		     8,000 -138,000 21,000         
          sales (purchases) of available-for-sale securities, net of maturities
        		     -292,000 4,044,000          
          proceeds from 2029 notes
        		                
          capitalized loan costs
        		                
          consolidation of cash and restricted cash from controlled investments and business combinations, net of cash paid
        		                
          net gain on loans accounted for under the fair value option
        		      -2,798,000          
          net unrealized depreciation (appreciation) on servicing assets
        		      1,735,000          
          net unrealized (appreciation) depreciation on derivative transactions
        		      -592,000          
          benefit from credit losses
        		      4,015,000          
          allowance for doubtful accounts
        		      167,000          
          sale (purchase) of loans held for sale from affiliate
        		      22,531,000          
          purchase of loans held for sale
        		          -5,797,000      
          capitalized servicing asset
        		        4,961,000 -2,937,000 -2,164,000     -2,660,000 
          net decrease (increase) in loans held for investment, at fair value
        		      21,688,000          
          net unrealized appreciation on joint ventures and non-control investments
        		                
          net unrealized appreciation on controlled investments
        		           -3,690,000     
          net realized gain on controlled investments
        		                
          net unrealized depreciation on servicing assets
        		       1,983,000    403,000     
          net unrealized depreciation (appreciation) on derivative transactions
        		          495,000      
          loss on extinguishment of debt
        		                
          purchase of loans held for sale from affiliate
        		       0         
          sale of loans to affiliate
        		                
          funding of controlled investments
        		                
          funding of non-control/affiliate investment
        		                
          principal received from controlled investments
        		                
          principal received from non-control investments
        		                
          return of investment from controlled investments
        		                
          income tax receivable
        		                
          dividends receivable
        		                
          net (paydowns) borrowings on bank notes payable
        		       27,037,000 -67,481,000        
          proceeds from 2024 notes
        		                
          proceeds from 2025 6.85% notes
        		                
          proceeds from 2026 notes
        		                
          redemption of 2023 notes
        		                
          net unrealized appreciation on joint ventures
        		                
          net gains on sales of loans
        		                
          consolidation of cash from controlled investments
        		        0 -2,590,000 24,896,000      
          net unrealized (appreciation) depreciation on joint ventures
        		         -698,000 -2,002,000      
          net (gain) loss on loans accounted for under the fair value option
        		                
          net unrealized (appreciation) depreciation on servicing assets
        		         534,000 -919,000      
          net gains on loans held for sale
        		         -13,208,000 -6,526,000      
          allowance for credit losses on loans
        		         5,211,000 -1,318,000      
          deferred income taxes
        		         2,524,000 -4,863,000 1,608,000    -880,000 
          purchase of loans from affiliate
        		         -1,172,000 -5,295,000      
          net increase in loans held for investment, at fair value
        		         -37,220,000 -7,595,000      
          net increase in federal home loan bank stock
        		         -1,731,000 242,000      
          additions to deferred financing costs
        		         0 -1,087,000 -61,000 -135,000 -1,021,000 260,000 -513,000 
          dividends paid
        		           -10,872,000 -6,324,000 -4,802,000   
          net increase in net assets
        		           5,604,000     
          adjustments to reconcile net increase in net assets to net cash from operating activities:
        		                
          net unrealized (appreciation) depreciation on non-affiliate investments
        		                
          realized gains on non-affiliate investments
        		           -6,286,000     
          realized losses on non-affiliate investments
        		                
          loss on lease
        		                
          purchase of loan from sba
        		                
          funding of non-control/non-affiliate investments
        		                
          originations of sba guaranteed non-affiliate investments
        		           -42,700,000     
          principal payments received from controlled investments
        		           1,300,000     
          principal payments received from non-control/non-affiliate investments
        		           361,000     
          proceeds from sale of sba guaranteed non-affiliate investments
        		           48,769,000     
          originations of sba unguaranteed non-affiliate investments
        		           -13,358,000     
          payments received on sba non-affiliate investments
        		           3,836,000     
          net increase in investments in money market funds
        		                
          broker receivable
        		           8,827,000 -9,845,000   2,880,000 
          change in restricted cash
        		           4,016,000 -5,858,000   -5,027,000 
          capitalized servicing assets
        		           -1,005,000  -1,185,000   
          net borrowings (payments) on bank lines of credit
        		                
          net borrowings on related party line of credit
        		                
          repurchase of common stock under share repurchase plan
        		           -866,000     
          proceeds from notes due 2022
        		            124,000    
          net unrealized depreciation on non-affiliate investments
        		           981,000     
          accounts payable, accrued expenses, other liabilities and deferred revenue
        		           -379,000     
          net borrowings on bank lines of credit
        		           3,229,000     
          net borrowings from related party line of credit
        		           5,170,000     
          payments on bank term note payable
        		             0   
          change in restricted cash related to securitization
        		           -118,000 9,711,000 1,408,000 -12,383,000 6,439,000 
          newtek business services corp. and subsidiaries condensed consolidated statements of cash flows
        		                
          net decrease in cash and cash equivalents
        		           -694,000  -2,994,000 -3,615,000 -8,106,000 
          cash and cash equivalents—beginning of period
        		           4,308,000  0   
          cash and cash equivalents—end of period
        		           3,614,000  -2,994,000   
          supplemental disclosure of cash flow activities:
        		                
          reduction of credits in lieu of cash and notes payable in credits in lieu of cash balances due to delivery of tax credits to certified investors
        		           217,000  347,000 -417,000 1,113,000 
          dividends declared but not paid
        		                
          reversal of deferred tax asset
        		             0   
          issuance of common stock under dividend reinvestment plan
        		           143,000     
          proceeds from sale of sba loans held for sale
        		               104,845,000 
          accounts receivable
        		            66,000   549,000 
          prepaid expenses, accrued interest receivable and other assets
        		            -600,000   3,549,000 
          investments in qualified businesses
        		               -177,000 
          returns of investments in qualified businesses
        		                
          purchase of fixed assets and customer accounts
        		            -12,000 -23,000   
          proceeds from sale of intangible asset
        		                
          sba loans originated for investment
        		               -33,301,000 
          payments received on sba loans
        		               9,134,000 
          proceeds from sale of loan held for investment
        		               500,000 
          purchase of non-controlling interest
        		                
          proceeds from term loan
        		               10,000,000 
          net borrowing from related party
        		                
          payments on bank note payable
        		                
          payments on senior notes
        		            -6,207,000 -6,477,000   
          issuance of senior notes
        		                
          special dividend paid
        		                
          exponential of new york, llc distributions to members
        		                
          proceeds from exercise of stock options
        		               15,000 
          net increase in net assets/net income
        		                
          adjustments to reconcile net increase in net assets/net income to net cash from operating activities:
        		                
          income from tax credits
        		               -39,000 
          amortization of deferred financing costs and debt discount related to debt refinancing
        		               1,905,000 
          accretion of interest expense
        		               37,000 
          fair value adjustments on sba loans
        		               1,640,000 
          fair value adjustment of credits in lieu of cash and notes payable in credits in lieu of cash
        		               2,000 
          return of investment from controlled investment
        		                
          loss on sale of other real estate owned
        		                
          accretion of discount
        		               331,000 
          benefit from loan losses
        		                
          net decrease in investments in money market funds
        		                
          originations of sba loans held for sale
        		               -103,658,000 
          net (repayments)/borrowings on bank lines of credit
        		                
          issuance of senior notes, net of issuance costs
        		                
          exponential of new york, llc distribution to members
        		                
          increase in additional paid-in capital attributable to deferred tax adjustment on vested stock
        		                
          issuance of common shares in connection with acquisition of premier payments llc
        		                
          issuance of common shares in connection with legal settlement
        		                
          net borrowings/(repayments) on bank lines of credit
        		                
          proceeds from related party line of credit
        		                
          increase in additional paid in capital attributable to deferred tax adjustment on vested stock
        		               166,000 
          dividends declared
        		                
          condensed consolidated net income
        		               5,334,000 
          adjustments to reconcile condensed consolidated net income to net cash from operating activities:
        		                
          provision for loan losses
        		               -52,000 
          provision for doubtful accounts
        		               277,000 
          accounts payable, accrued expenses and deferred revenue
        		               3,570,000 
          return of investments in qualified businesses
        		                
          purchase of fixed assets and customer merchant accounts
        		               -1,313,000 
          net proceeds from bank lines of credit
        		               4,029,000 
          repayments on notes payable
        		               -11,007,000 
          repayments of senior notes
        		               -8,037,000 
          cash and cash equivalents – beginning of period
        		               12,508,000 
          cash and cash equivalents – end of period
        		               4,402,000 
          loans transferred to other real estate owned
        		               136,000