v3.26.1
INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investment holdings, schedule of investments
Investments consisted of the following at:
June 30, 2026December 31, 2025
CostFair ValueCostFair Value
Residuals in securitizations, at fair value (NOTE 3)$79,657 $204,001 $32,481 $76,701 
Joint ventures and other investments36,294 43,766 36,692 47,719 
Debt securities available-for-sale, at fair value15,147 15,139 16,836 16,829 
Federal Home Loan Bank and Federal Reserve Bank stock4,548 4,548 4,234 4,234 
Total investments$135,646 $267,454 $90,243 $145,483 
The following table shows the Company’s loan portfolio by collateral type for loans HFI, at fair value:
Loans HFI, at Fair Value
June 30, 2026December 31, 2025
CostFair ValueCostFair Value
CRE$276,121 $281,084 $131,015 $138,110 
Residential Real Estate160,024 159,011 52,229 50,539 
Machinery and Equipment100,537 96,223 46,552 43,266 
Accounts Receivable and Inventory95,716 88,249 43,944 38,670 
Unsecured75,966 76,064 4,295 4,259 
Other22,457 20,937 8,619 6,354 
Total$730,821 $721,568 $286,654 $281,198 
Investments in and advances to affiliates
Investments related to our joint ventures and other investments as of June 30, 2026 and December 31, 2025 were as follows:
June 30, 2026December 31, 2025
CompanyCostFair ValueCostFair Value
Joint Ventures
TSO JV
25,520 36,500 25,520 37,250 
Other Investments
EMCAP Loan Holdings, LLC$306 $306 $306 $306 
Biller Genie Software, LLC— — 398 1,983 
Intelligent Protection Management Corp.
IPM Earnout— — — 1,300 
IPM Stock1
10,468 6,960 10,468 6,880 
Total Other Investments$10,774 $7,266 $11,172 $10,469 
Total
$36,294 $43,766 $36,692 $47,719 
1    Four million shares of IPM Preferred Stock with net gains/(losses) calculated based on a closing price of $1.74 and $1.72 on June 30, 2026 and December 31, 2025, respectively.
The following table summarizes the amounts due to and due from affiliated companies as of June 30, 2026 and December 31, 2025:

June 30, 2026December 31, 2025
Due from affiliated companies1
80 100 
Due to affiliated companies2
— — 
Total due to/due from affiliated companies, net$80 $100 
1    Included within Other assets
2    Included within Accounts payable, accrued expenses, and other liabilities
The following table summarizes the income earned from our joint ventures and other investments for the three and six months ended June 30, 2026 and 2025:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Servicing income$250 $441 $546 $935 
Dividend income450 600 900 2,286 
Total income$700 $1,041 $1,446 $3,221 
Expenses— 2,563 — 3,892 
Net income/(expense)$700 $(1,522)$1,446 $(671)
In the normal course of business, Newtek Bank holds FDIC insured deposits from certain of the Company’s officers, directors and their associated companies. The following table summarizes the amounts due of deposits from related parties and their affiliated companies as of June 30, 2026 and December 31, 2025:

June 30, 2026December 31, 2025
FDIC insured deposits$3,720 $4,054 
Non-FDIC insured deposits338 322 
Total deposits from related parties and their affiliated companies$4,058 $4,376 
Schedule of available-for-sale securities
The following tables summarize the amortized cost and fair value of debt securities available-for-sale by major type as of June 30, 2026 and December 31, 2025:

June 30, 2026December 31, 2025
AmortizedUnrealizedUnrealizedFairAmortizedUnrealizedUnrealizedFair
Cost GainsLossesValueCostGainsLossesValue
U.S. Treasury notes$15,147 $— $8 $15,139 $16,836 $— $7 $16,829 
Debt securities, unrealized losses
The following tables summarize the gross unrealized losses and fair value of debt securities available-for-sale by length of time each major security type has been in a continuous unrealized loss position:

June 30, 2026
Less Than 12 Months12 Months or MoreTotal
Fair ValueUnrealized LossesFair ValueUnrealized Losses Fair ValueUnrealized Losses
U.S. Treasury notes$15,139 $8 $— $— $15,139 $8 

December 31, 2025
Less Than 12 Months12 Months or MoreTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesNumber of HoldingsFair ValueUnrealized Losses
U.S. Treasury notes$16,829 $7 $— $— 3 $16,829 $7 
Available-for-sale maturity and other information
The following table summarizes the amortized cost and fair value of debt securities available-for-sale by contractual maturity:

June 30, 2026At December 31, 2025
Amortized CostFair ValueAmortized CostFair Value
Maturing within 1 year$15,147 $15,139 $16,836 $16,829 
After 1 year through 5 years— — — — 
After 5 through 10 years— — — — 
After 10 years— — — — 
Total$15,147 $15,139 $16,836 $16,829 
The following table summarizes Newtek Bank’s debt securities available-for-sale pledged for deposits, borrowings, and other purposes:
June 30, 2026December 31, 2025
Pledged for deposits$— $— 
Pledged for borrowings and other:
FRB borrowings7,377 7,383 
FHLB borrowings7,762 9,446 
Total pledged$15,139 $16,829