NewtekOne Business Summary

NewtekOne, Inc. (NEWT) operates as a technology-enabled financial holding company providing a comprehensive suite of business and financial solutions to small and medium-sized enterprises (SMEs). The company generates revenue through a diversified mix of net interest income from its loan portfolios and non-interest income derived from transaction fees, servicing fees, and merchant processing. Its primary business segments include Banking (via Newtek Bank, N.A.), Alternative Lending (ALP), Electronic Payment Processing, and Technology Solutions (cloud computing and IT services). NewtekOne distinguishes itself through a digital-first customer acquisition model and a robust securitization strategy that optimizes capital efficiency for its SBA 7(a) and alternative loan programs. Direct competitors include QCR Holdings (QCRH), Byline Bancorp (BY), Pagaya Technologies (PGY), and ConnectOne Bancorp (CNOB), with NewtekOne positioning itself as a high-yield, tech-integrated alternative to traditional regional banks by focusing exclusively on the independent business owner market. The leadership team is anchored by founder Barry Sloane, who serves as Chairman, President, and CEO, bringing a pedigree in mortgage-backed securities and securitization from senior roles at Smith Barney and Bear Stearns. Supporting the executive suite is EVP and CFO Frank M. DeMaria, a CPA with extensive financial leadership experience at Flagstar Bank and Amalgamated Financial Corp. The company’s technological infrastructure is overseen by CTO Ron Lay, who previously served as Global Head of Wholesale IT Digital at HSBC and held senior digital technology roles at JP Morgan Chase. Peter Downs, President of Newtek Bank, N.A., provides deep institutional knowledge with over two decades at the firm and a background in small business lending at European American Bank. Notable institutional backing includes a significant $10 million investment from Patriot Financial Manager, L.P. in late 2025, while the board is further strengthened by independent directors like Craig “CJ” Brunet, a former CIO/CTO of the company.