NewtekOne Files Proxy Materials Supplement

TL;DR

NTK proxy update filed - shareholders get more info for annual meeting.

AI Summary

NewtekOne, Inc. filed a Definitive Additional Materials proxy statement on April 30, 2024, related to its annual meeting. The filing is a supplement to previously filed proxy materials and concerns information required under Section 14(a) of the Securities Exchange Act of 1934. The company, formerly known as Newtek Business Services Corp., is incorporated in Maryland and operates in the National Commercial Banks sector.

Why It Matters

This filing provides additional information to shareholders regarding matters to be voted on at the company's annual meeting, ensuring transparency and informed decision-making.

Risk Assessment

Risk Level: low — This is a routine proxy filing providing additional information to shareholders, not indicating any immediate financial distress or significant corporate action.

Key Players & Entities

• NewtekOne, Inc. (company) — Registrant and filer of the proxy statement
• Newtek Business Services Corp. (company) — Former name of NewtekOne, Inc.
• Securities Exchange Act of 1934 (legal_document) — Governing legislation for the proxy statement filing
• 4800 T REX AVENUE, SUITE 120, BOCA RATON, FL 33431 (address) — Business and mailing address for NewtekOne, Inc.

FAQ

Key Financial Figures

• $1.80 — asting full year 2024 EPS in a range of $1.80 to $2.00 per basic and diluted common s
• $2.00 — ll year 2024 EPS in a range of $1.80 to $2.00 per basic and diluted common share. Not
• $1.90 — otably, at the midpoint of the range at $1.90 per share, and NewtekOne's closing stoc
• $11.36 — and NewtekOne's closing stock price of $11.36 on April 12, 2024, the forward price-to
• $0.72 — row our retained earnings. W e declared $0.72 per share in dividends in 2023, which e
• $0.18 — in dividends in 2023, which equated to $0.18 per share per quarter. On April 15, 202
• $0.19 — 4, we paid a quarterly cash dividend of $0.19 per share on the outstanding common sto

Filing Documents

• annualmeetingshareholderle.htm (DEFA14A) — 44KB
• newtekonelogov2a.jpg (GRAPHIC) — 11KB
• 0001587987-24-000077.txt ( ) — 55KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 __________________________ SCHEDULE 14A (RULE 14a-101) Information Required in Proxy Statement __________________________ SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 __________________________ Filed by the Registrant x Filed by the Party other than the Registrant Check the appropriate box Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement x Definitive Additional Materials Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 NEWTEKONE, INC. (Exact Name of Company as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box) S No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 4800 T-Rex Avenue Suite 120 Boca Raton, FL 33431 (855) 284-3722 www.newtekone.com May 3, 2024 To My Fellow Shareholders of NewtekOne, Inc. Throughout its longstanding history, NewtekOne has always strived to be the One Company for all of your Business Needs positioning itself as one of the leading business and financial solutions providers for independent business owners operating in each of the 50 states across the United States. Our Company has always focused primarily on building a great business and a great company that offers its clients the tools to become more successful. This focus has always been underscored by our robust menu of business and financial services and solutions. NewtekOne's decision to transform itself from a Business Development Corporation ("BDC") into a 1933 Act financial holding company comes with some transformative resistance, which we anticipated. The current business structure is better positioned to absorb the growth of its operations, and management believes that this investment will pay off with future growth in earnings and dividends that will flow through the current structure better than the former BDC structure. Clearly, NewtekOne has embraced this transformative change during the course of 2023, when we began our journey of becoming a financial holding company that owns a nationally chartered bank. Established in 1998, our perseverance through many different economic and operating markets leaves us well positioned and prepared to excel in our new structure going forward. Recently, we have been asked multiple times why we wanted to purchase a bank. The simple answer that most people expect is that we wanted to obtain access to low-cost deposits and garner additional leverage to grow our business. Although deposit gathering and additional leverage is clearly an asset, we believe the banking function will drive our clients to NewtekOne regularly, and give us free and multiple impressions with our clients on a regular basis. In today's marketplace, companies that are able to drive their clients to their website andor portal have a clear advantage to grow their brand. Therefore, we can offer multiple solutions and truly provide value to our customer base and shareholders. We believe that financial institutions and depositories provide great warehouses for data mining and assisting customers with sorting through their various needs. Simply stated, we are striving to be a growth-oriented technology-enabled business solutions company that also provides depository services. At the cornerstone of this distinct financial-holding-company business model is our in-house developed, proprietary portal, aptly named the Newtek Advantage. We believe the Newtek Advantage provides NewtekOne's clients with a tremendous advantage via analytics, relationships, and transactional capabilities that other banks do not provide. Our independent business owner clients most likely visit our portal approximately two-to-five times per week, averaging 12 to 20 times per month, which allows us to make multiple consistent and regular impressions to our clientele. Our objective will be to mutually utilize the Newtek Advantage and enhance communication with our customers by creating a destination point through which our clients can learn about the many ways in which we can assist them with growing their revenues, enabling them to become more efficient, and reduce their costs and risks. Additionally, we will also aim to become a central base of knowledge and resources, bringing our clients regular white papers, podcasts, and webinars to provide value-added information, having them further recognize that we are their authority for all their business needs. Going forward, we expect to be able to partner with other financial institutions and white label our technologies. We plan to partner with other credit unions and financial institutions to monetize the e

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View this DEFA14A filing on SEC EDGAR