Positive Outlook

• The Company is raising its 2024 annual earnings forecast to a range of $1.85 to $2.05 per basic and diluted common share from its previous forecast range of $1.80 to $2.00 per basic and diluted common share.
• Newtek Bank's SBA 7(a) loan fundings of $207.1 million, a 35.9% increase over $152.5 million SBA 7(a) fundings for the same period last year.
• Alternative loan program, through NewtekOne's non-bank subsidiary, generated record closings of $53.8 million during the first quarter 2024, compared to $12.2 million closed in the first quarter 2023.
• Newtek Bank continued to raise deposits, growing deposits by approximately 8.9% from the $519.1 million at December 31, 2023 to $565.3 million at March 31, 2024.
• Newtek Bank's net interest margin expanded from 4.43% during the fourth quarter 2023 to 4.80% during the first quarter 2024; and net interest income increased by 16.7% sequentially to $7.7 million during the first quarter 2024 from $6.6 million during the fourth quarter 2023.