NewtekOne, Inc. Promotes Frank M. DeMaria to Chief Accounting Officer

BOCA RATON, Fla., April 01, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT) has promoted Mr. Frank M. DeMaria to Executive Vice President, Chief Accounting Officer of NewtekOne effective as of March 29, 2024. Mr. DeMaria has been with NewtekOne since May of 2023 as Senior Vice President of Accounting and Finance. Frank brings a career’s worth of experience across many facets of financial holding company accounting and finance to this position. Frank’s prior experience includes being Senior Vice President & Controller at Flagstar Bank, N.A; Senior Vice President & Chief Accounting Officer at Amalgamated Financial Corp.; and Senior Manager at KPMG LLP, Audit Financial Services. Frank will report to M. Scott Price, Chief Financial Officer of NewtekOne. Our former Chief Accounting Officer, Nick Leger, has assumed the role of Senior Vice President and Treasurer of NewtekOne and Newtek Bank.

Barry Sloane, Chairman, President and Chief Executive Officer commented, “We are confident that with his significant financial holding company experience and the dedication he has shown since joining NewtekOne, Frank will be a great addition to our executive management team and will be successful in his new role as our Chief Accounting Officer. Since joining NewtekOne, Frank has demonstrated that he has the knowledge, skills, and technical expertise required to fulfill the obligations of the position. Nicholas Leger, the former Chief Accounting Officer, has transitioned to the role of Senior Vice President and Treasurer of NewtekOne and Newtek Bank, with a focus in the areas of capital markets transactions, working with our new Chief Risk Officer on the corporation’s banking and finance business model, as well as supporting future securitizations and capital markets transactions out of the holding company. In addition to the transition of Mr. Leger to the Treasurer position, we have recently added Jonathan Shanfield and Matthew Sauli to our senior accounting and finance team. These expenses are included in our full year 2024 earnings forecast of $1.80 to $2.00 per basic and diluted common share, which we believe is a conservative forecast. We plan to update this forecast when we release our first quarter 2024 financial results.”

About NewtekOne, Inc.

NewtekOne^®, Your Business Solutions Company^®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek^® brand to the small- and medium-sized business (“SMB”) market. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.

NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Newtek^®, NewtekOne^®, Newtek Bank^®, National Association, Your Business Solutions Company^® and One Solution for All Your Business Needs^® are registered trademarks of NewtekOne, Inc.

Note Regarding Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences and are subject to change, possibly materially. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in the Company's filings with the Securities and Exchange Commission which are available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

SOURCE: NewtekOne, Inc.

Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]