2024-03-06 12:23:05 ET
NewtekOne, Inc. (NEWT)
Q4 2023 Earnings Conference Call
March 06, 2024, 8:30 AM ET
Company Participants
Barry Sloane - President, Chairman and Chief Executive Officer
Scott Price - Chief Financial Officer
Conference Call Participants
Crispin Love - Piper Sandler
Tim Switzer - KBW
Christopher Nolan - Ladenburg Thalmann
Steve Moss - Raymond James
Presentation
Operator
Good day and thank you for standing by. Welcome to the NewtekOne Inc. Fourth Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speaker's presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Barry Sloane, Chairman, President and CEO of NewtekOne. Please go ahead.
Barry Sloane
Good morning, everyone, and welcome to our fourth quarter and full year 2023 Financial Results Conference Call. We're pleased to report our results to you this morning.
My name is Barry Sloane, CEO and President and Founder of NewtekOne Inc. Joining me today on the call for presentation purposes is Scott Price, our Chief Financial Officer of Newtek Bank, National Association and NewTek, Inc. In addition, we also have Nick Young, President and CEO of Newtek Bank, NA; and Nick Ledger, EVP and Chief Accounting Officer for NewtekOne Inc.
I'd like to draw your attention to slide number one, which is our fourth quarter reporting as a financial only company. Excuse me. Slide number one is the forward-looking statement. Get a chance to absorb that. Now go to slide number two. Slide number two, this is our fourth quarter and third full quarter reporting as a financial holding company.
We acquired National Bank of New York City on January 6th. So it took a while for us to get a lot of the assets employees into Newtek Bank, National Association. So I think it's important when you look at year-over-year comparisons, the Q1 2024 comparison might be a little bit choppy versus the Q1 2023.
And therefore, when we also look at our 2023 performance, it's very difficult to do the comparisons test as a prior BDC. However, I think it's important to focus on the quarter-over-quarter sequential comparisons. And we had a really good year and quarter-over-quarter comparison when you take a look at things like portfolio of loans growing, net interest margins expanding, and deposit growth....
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NewtekOne, Inc. (NEWT) Q4 2023 Earnings Call Transcript