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NEWT

NewtekOne, Inc.
7 filings tracked
financialsasset managementSMALL ($300M-2B)

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Filing history, signal momentum, and bull/bear evolution

Chronological Filing Evolution (Click to filter / toggle)

Thesis (Bull Case Evolution)

NewtekOne has reached a pivotal operational inflection point by successfully migrating its Alternative Lending Program (ALP) into its federally chartered bank.…

Bullish Outlook

Antithesis (Bear Case / Structural Risks)

Despite the headline profit growth, the underlying fundamentals reveal significant volatility and credit risk.…

Risk Factors

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Synthesis (Verdict & Resolution)

The Q1 2026 filing presents a company in the midst of a high-stakes transition from a non-bank lender to a diversified financial holding company. While the migration of lending activities to Newtek Bank has successfully driven a surge in deposits and improved the headline bottom line, the quality of these earnings remains a point of contention. The tension between the bull case of structural efficiency and the bear case of accounting volatility is centered on the sustainability of non-interest income and the stability of the loan portfolio. Ultimately, the filing highlights a successful execution of the bank-led strategy in terms of scale and liquidity, but it leaves open questions regarding the long-term net interest margin and the true state of credit losses. Investors are now weighing the benefits of a well-capitalized bank against the risks of a deteriorating loan book and a high-coupon debt stack.

Selected Quarter

Core Takeaway

The transition to bank-led lending has unlocked massive deposit growth and headline profitability, but earnings remain sensitive to fair-value accounting flips.

Investor Lens

The trade-off between rapid balance sheet growth and the stability of the underlying credit quality.

Watch Next

Net interest margin trends and the performance of the 2026-1 ALP securitization trust.

View Full SEC Report

Signal Momentum Chart

Quarterly net bull/bear signal ratio. Click nodes to select a quarter.

BULLISH (+1.0)NEUTRAL (0.0)BEARISH (-1.0)+0.03Q2 '26 (10-Q)

Signal Timeline

Active Filters:Quarter: Q2 '26 (10-Q)
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%
bullishMay 8

Net income grew 43% year-over-year to $13.4 million.

earnings beat
70%
bearishMay 8

Net interest margin fell from 3.04% to 2.70%.

margin compression
60%
neutralMay 8

Launched a $50 million debt ATM program to optimize capital structure.

capital raise
40%

Filing History

10-QMay 8, 2026
Expand Sequence

The Q1 2026 filing presents a company in the midst of a high-stakes transition from a non-bank lender to a diversified financial holding company. While the migration of lending activities to Newtek Bank has successfully driven a surge in deposits and improved the headline bottom line, the quality of these earnings remains a point of contention. The tension between the bull case of structural efficiency and the bear case of accounting volatility is centered on the sustainability of non-interest income and the stability of the loan portfolio. Ultimately, the filing highlights a successful execution of the bank-led strategy in terms of scale and liquidity, but it leaves open questions regarding the long-term net interest margin and the true state of credit losses. Investors are now weighing the benefits of a well-capitalized bank against the risks of a deteriorating loan book and a high-coupon debt stack.

Disclaimer: The synthesis provided is generated by AI models and should not be construed as investment advice. Analysis is based solely on regulatory data present at the time of publication. Consult a financial advisor for specific investment strategies.