NewtekOne (NewtekOne) Credit Losses Provision : $11.7 Mil (As of Dec. 2023)

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What is NewtekOne Credit Losses Provision?

NewtekOne's credit losses provision for the three months ended in Dec. 2023 was $4.4 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $11.7 Mil.

NewtekOne's quarterly credit losses provision increased from Jun. 2023 ($2.6 Mil) to Sep. 2023 ($3.4 Mil) and increased from Sep. 2023 ($3.4 Mil) to Dec. 2023 ($4.4 Mil).

NewtekOne's annual credit losses provision stayed the same from Dec. 2021 ($0.0 Mil) to Dec. 2022 ($0.0 Mil) but then increased from Dec. 2022 ($0.0 Mil) to Dec. 2023 ($11.7 Mil).

NewtekOne Credit Losses Provision Historical Data

The historical data trend for NewtekOne's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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NewtekOne Credit Losses Provision Chart

NewtekOne Annual Data

Trend

Dec14

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Dec16

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Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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11.70

NewtekOne Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															-	1.32	2.58	3.45	4.37

NewtekOne Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $11.7 Mil.

NewtekOne (NewtekOne) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » NewtekOne Inc (NAS:NEWT) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

1N31:Germany

Address

4800 T Rex Avenue, Suite 120, Boca Raton, FL, USA, 33431

Website

https://www.newtekone.com

NewtekOne Inc is a financial holding company engaged in providing financial solutions, It has developed a financial and technology-based business model that enables itself to acquire and process its clients in a very cost-effective manner. This capability is supported in large part by NewTracker, its patented prospect management technology software, that will allow NewtekOne clients to easily interact with NewtekOne subject matter experts in the areas of Banking, Lending, Payments, Technology, Payroll, and Insurance. It offers NewtekOne's clients a single online dashboard to access all of NewtekOne's business and financial solutions.

Executives

Salvatore Francis Mulia	director	4 WHITNEY STREET EXTENSION, WESTPORT CT 06880
Barry Sloane	director, officer: CEO and President
Richard J Salute	director	P O BOX 306, WOODBURY NY 11797
Gregory L Zink	director	1981 MARCUS AVENUE, SUITE 130, LAKE SUCCESS NY 11042
Peter Mathison Downs	director	1440 PINEACRES BLVD, BAY SHORE NY 11706
Michael Scott Price	officer: Chief Financial Officer	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Fernando Perez-hickman	director	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Nicholas J Leger	officer: Chief Accounting Officer	348 ALFRED STREET, NORTH BABYLON NY 11703
Michael Adam Schwartz	officer: Chief Legal Officer, Secretary	C/O NEWTEK BUSINESS SERVICES INC, 462 SEVENTH AVENUE, 14TH FLOOR, NEW YORK NY 10018
Halli Razon-feingold	director	4800 T-REX AVENUE, SUITE 120, BOCA RATON FL 33019
Nicolas Young	officer: Chief Risk Officer	200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Christopher Towers	officer: Chief Accounting Officer	1981 MARCUS AVENUE, SUITE 130, LAKE SUCCESS NY 11042
Sam Kirschner	director	60 EAST 8TH STREET, #20K, NEW YORK NY 10003
Nilesh Joshi	officer: Chief Information Officer	5617 W. MOLLY LANE, PHOENIX AZ 85083
John Raven	officer: Chief Info. Security Officer