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Investor section presentation of the and to be able our website go follow you'll along can You Relations our to morning. this
slide is read to presentation make the it. and forward-looking On you to you that with one it statement. love I would sure want are traditional and suggest familiar our
Going to slide number two.
historical years. the year, last its fact exceptionally despite year for over Newtek that to equities. we've would done year-over-year, can to stock Clearly, last was almost see, XX% all always five particularly XXX%, which a a the tough fourth we well, quarter relate review the you return performance annual likes recall,
Our was beat by major indices X,XXX X.X%, to year one a return most XXX basis which points. year last
community. looking April nicely, was the year-to-date about stock We're that. has always dividends to total XX.X%. and stock want through investment appreciated, base current performance However, talk return our be stock And including our and higher than and very rebounded to even has at would XX it quite the proud
the financial number from three, to Moving first slide data the quarter.
NII. income, for is from important our gain which Company, net excluded those an you with familiar our of on investment of Our loss, that and are component sale, is
put into it’s adjusted However, NII.
gain over a about the debt-to-equity, the came XX% to a a March a performance the basis. after improvement growth of which $X.XX $X.X pro equity It's illustrating we’ll And the NII significantly. $XX Our what net presentation, narrowed investment very sequentially to governments income, million to an to December NAV at or earnings. X.X% our we million, Adjusted in per-share year forma a ended always million look out increased basically is on XXX.X% number slide share. would at $X.XX, talk approximately XXXX, we quarter in important the as is XX.X%, loss the fact, We increase per share, Debt-to-equity five. dividend pay $XX.X our leverage XX, Total of million. the of of XXXX moved the approximately XX; bids March investment demonstrate nice so $X.X last dividend business. flat always, liquidated. industry that of on which like of get XX, sold
on our believe the of to would at does got business, an To million of of debt. do So, X insist other you as can we that to see, worth that instruments, million it’s million debt number at end also that’s of to to times that. ratio $XX a going be clears If want done to debt difficult X at business, X typically were million on a Many other debt-to-equity invest particular debt at compare days on $XX leverage and instruments you we looking debt about actually payments our I about to leverage. versus XX%, our that you X BDCs, with the the within times secured senior EBITDA, looking fairly give we’re the quarter. mezzanine, BDCs. debt buyouts subordinated idea, or significant which cuts by them only leveraged $XX to $XX.X of about note X typically in XX we’ve
at are not to highly all. important compare note the believe think, in statistics -- leverage I other when BDCs, we you that's our versus leveraged it's BDCs we
no SBIC have debt. also We
something and significantly shareholders increasing extremely or the risk prudent. growth our that at look as is to increasing we leverage So, as not
important metric loss, first and on with improved was us an regular four, five or Company number of one-time in been basis as we grow grow or a quarter, been grow, our defined and slide net investment for occurred four of have income net portfolio Moving business and course tighter, It to to in as a which to a XX.X%. as spread XXXX, investment I extinguishment adjusted the think by adding NII able about the XXXX, continues But, to want million. dividend event on to of performance. going take taking by income focus charge the actually out one-time on been our the on overall out our continue will that XX% our that and grow obviously per-share exits get believe in the continue and basis. deferred streams portfolio the investment debt; we’ve business make watched a and $X over additional forward, to well many we would that perform unamortized even years, streams financing net was net contribution fees follow it subsequent improvement have Investors loss to was income size the very significant revenue securitizations
We're to to And Moving was May dividend dividends Board of $X.XX dividend the you of performs over income, on have were a as what slide On $X.XX dividend. on We're in historically increase dividend repeat of over history to the that we X.X% if paid per forecasts. that out that forecasting at what very year's $X.XX be, paid slide our second is of plus annual We the cash a the on number maintaining sitting anticipates that’s and XXXX Company of today, our guess, point X% and a look X.X% XXXX dividends. $X.XX increase XXXX; $X.XX; XXX% dividends, a take We declared historically. a over would our to the proud a We share $X.XX Xst, think in on our like still forecast be BDC, it’s share, and been will quarter dividend six, X% quarter number of initial and cash at would approximately $X.XX to a XX a $X.XX second cash the forecast dividend that. taxable was XXXX to at a that dividend conservatively nine. focusing of XXXX, per year adjusted XXXX I $X.XX. increase share. in NII. cash prior
going history, was longest the think on historically it's note important year, a of loan a of first quarter shutdown lighter funding XX or think, days quarter. over we to expected through third which that in that the bit shutdown, this I came government volume, in U.S. I and was based government upon little the
our also quarter We're annually maintaining in fund X(a) was and that range, increase. would to price. which address million SBA $XX.X I to subsequent However, our year of the funding will note in original we XXXX guidance $XXX increase forecasts. a X(a) over represent the X% factors XXX a marketplace. $X.XX not $X.XX $XXX year the guidance to earlier. forecast of I same $X.XX. to we’ve a upon eight, the based were loan, loan for given number increase million increase still XX.X% the Well, $XX.X slide able to million a that was will for $X.XX million On
grow the still and a about when overall have got we are million candidates equity, sufficient the we close a staff credit close As we’ve of we’ve throughout currently experiencing grown us opportunity. said loan maintaining believe your investments that in human footprint, and X%, million underwriting, debt available loan referrals very low between increasing strong, best we’ll to help growth, to producers, just talk our investments we're can of by previously, and real legal through assembly, both nice rate loan coming while $XXX that capital SBA of and that’s what through X.X% limitations demand business the fundings some is asked in, are been $XX been of total senior estate rate cherry the hired add and picking credits. potentially presentation. X(a) that pipeline capital Comfortably, of closing we significant technology in we've to We’ve the we’ve
I SBA number partners nonconforming XXX X(a) to now of do able the XX last and we to schedules, long-term single slide with XX one fixed be rate with five, move marketplace eight. to with a We're be and program think on amortization loan our as to programs. will to much we point up to that's years to think, to and go it’s the benefit able Launching important our out conventional going million, digit alliance interest the loans $XX bigger net note, rates.
in launching also come new out our CDS, a known program will and this So, Newtek business business up that And NBL referrals program, will referrals through program TCP. joint we we service known of loan assemblers, line build receivable all opportunities. our going venture will a or X(a), Credit, and accounts when it we wind of for nonconforming is is XXX model, which funding funnel, think at what's inventory is is BlackRock or be as at specialists best look our internally or our Business with figure the the accretive the credit loan, it the we into it to that it the as be definitely
for to is there So, to. the four different referrals places go
model and relative So, we're built long basically number talked about making going shareholders On the human should business believe over that operating period to time slide using a nine, our of and limitation forward, growth we’ve always capital. of we’ve benefit the we leverage which significantly. use business much greater to our
including million. Brent half. hiring for to in support joined He was senior equity. very the companies he leader well Downs growth Development. Chief Administration. Credit at footprint as consultant SVP, been us Business debt number was Bank. that and functions to years of also the last helping he of Brent Asset risk Frank of both risk. Director as was slide with on at Ciurlino as our recently as businesses experience us slide senior executive all as commercial as and Credit. hired Al Brent of will of more with Newtek the XX Credit, Frank number Business Lending. compliance Capital held U.S. Commercial exceptional as at for manage Treasurer SVP management Newtek underwriting Operating a Company will XX been at over and of Slide assembly, business and BDC. he TD a XX, positions a Brian receivables, is professionals entity in $XXX announce own So, Wall being He significant parties. Santander Street be and Santander outsourced business Transamerica Business our where Small This has and to at and to Credit regulation lines third with Manager the CIT worth that a and served operated Risk business, and us experience different extensive EVP Spada, portfolio lender, Officer conventionally. with at we're comes institutions, services, at XX, commitments OCRM, Head the team our Management Finance Managing and Bertelle to of is business Risk Bank. many, servicing help years the Frank joining us accounts work at provides has of has the position to of Business will grow of our Citizens executive as the Market on Small financing, experience. experience hired and Operations. FDIC to which the loan in Office credit modeling, our and acquisitions was a lending worth $X.X and that Brian focusing a had several for extensive joined treasury managed many BDCs. XX a Corporate billion RTC. an CIT. of forecasting, and Prior Prior industry and the portfolio for Bank, financial proud us Brent ABL SVP and year funding the closely decades. And Based we the Moon GE comes Bank, Brent Brian On for units. of Peter Al’s of has Business also
professional by This number to of credit comes different XX, announce new Newtek On to and not committees. over professional a America Credit have Operations, of four. units financial separate expensive, XX of have and will which GE committee, Commercial, expensive will understand talk important Peter each This that underwriting, Citicorp. Chief business between our slide and management, TCP. the a of is decade Newtek and and product at like -- XX-XX extensive we we background, hire to an be joint of credit Officer. that our operations. happy which venture expensive Newtek years Bank lending This these He will Commercial on end the Director professional particular to subsidiary May. Downs, wholly-owned lines Lending directly with institutions, extensive we’re It’s Finance hope of to one We sit credit Newtek report at other spent know prestigious a about and Lending is finally be will Lending, venture launching Conventional BlackRock that announce and joint portfolio
loan and staff all utilizing using Corp., Business Service leveraging States, Newtek referral Business funding, United the rights post-closing market businesses and over $XXX legal on JV and underwriters, time system anticipated of matters. originate and equity equal the BlackRock million is commit Corp.’s and amount to at be over SMB each middle voting to will the Newtek extensive equal of all The opportunity. Newtek Service intended purpose the about will business loans material to assemblers, pre-closing,
facility be This that a million, that used of April feature Bank line, XXth, two-thirds venture will with million. be one-third be will is create It the credit senior On up could XX-XX time, to that time will that securitizations the potentially the to that growth to of secured on has out our X% between structure We Deutsche we talk X% equity is $XXX and XXXX, the and the with program. estimated Conventional Lending equity, out that schedule $XX.X took an equity venture being lending we of announced venture’s will Service as that non-conforming it owned. $XXX our we’ll could that shortly, show investments. sell Corp. billion leverage, estimate So, is closed will issue about Newtek Newtek from qualify the that Business in in loan which venture enable be referrals loan conventional loans quarter, of this venture. in there accordion and
our in probably referral program to week done that sometime a will be press haven’t formal We announced yet the next release. partners;
included the giving not are dividends dividend in any the earnings to $X.XX contribution, on or We guidance any from have venture $X.XX nor our we forecast. joint
this. towards I are be line on We’ll we try of people of land what think a that might more lot information without for speculation. overstepping to transparent as the looking can as us
that’s the BDCs, to can for it with most to leverage. think both for do it, venture you that be two I equity of dividend. projected ascertain wouldn’t Otherwise, the accretive us joint the partners would and sense and obviously make
the believe look your the start at build could additive and you press in all results our to So, to to on new a item positive begin JV the this as going models, forward. and the to but release, quote to initiative will we grow we this have plans impact use leverage facility business
refer has none this forecast. dividend joint benefit in pedigree point been at However, factored number the time, of this annual XX, the our of venture slide always our On in we non-bank now to X(a) the than largest lender. the government-guaranteed X(a) doing We're X(a) and many largest other in loans business. financial the SBA more lender JPMorgan, fourth of United and America Bank institutions, States into
securitizations; These loans have them uninsured exited sheet. since pieces balance are of the the via nine of out of get XXXX. we and on All
sitting You market Qs, performer, and better could see sub-performers in the all our basis. to a both they’re the The execution these and quarterly the loans better. all on on deals nonperformers has and gotten Ks mark
of matched. proud long-term, And liability are nonrecourse, quite asset We’re securitizations that. the
BDC, calculate in dollar quarter. a to Slide the a I also the increase in We Although referrals to our XXXX. billion I volume, but year-over-year first when March nonrecourse our that versus number $X.X pipeline also they XX note count XX% do good leverage, loan important will as to XX, and quarter shows note you ratio. had up that’s think pipeline, leverage
And rate. which non-conforming launch hopeful the So, obviously $XX program, the give $XX are we that of believe and up run to funding beneficial. will us million a be billion will
we're million, For a $XX we to those a get of SBA opportunities. going think good our goes aficionados, business business million. you up non-SBA up million, Being fishing X(a) $X able to to to of at $XX XXX big expand caps lot net
million floating alternative loans rate real of fixed of X(a) venture conventional in borrowers the or within so are XX.XX% that for the will a only state, versus a fit the be that the those looking Some doesn’t size a occupy program X(a) nonconforming program. SBA for it $X
For this on max very $X million already those will their cap useful. X(a), that be used have program
greater in the showing our of ‘XX So, the you the course million over look want will XX, the to is, $XX marketplace. the loans we of $X On loans the at some graph that premiums $X a a people business pool for XX the ‘XX worth referral sometimes X(a) originating million, fit company the can't than billion of this are sale But and under reality is number Slide X(a) time. gains Obviously, different bucket. of growth on data, reason year. originating with about year than loans or cohort that’s number talks the pieces. is one share which of worth on $X do billion a that’s slide government-guaranteed
the we back the up These without government-guaranteed that of up XX.XX%. rates. floaters function prepayment average. We For constant move a one moving netted [Ph] for primarily We’re are cap. believe a quarter, this back is
period So, raises and basically, well, are rates. a there stronger that or rate rates of rates economy Obviously, rates a is And these of we’ve levels no but prepayment interest it’s stronger rationale. of as time. had economy a rising reason for function a
remaining they a I think quickly. at that ones are may can’t the refi their but make point refi better mean borrowers do better in and not have the time That doesn’t payments the some option. loans that
couple high we the months; came work track slowed. data. XX%, On the go portfolio. the from last CPRs look XX% at weighted into analyze we’re in charge-offs CPRs and important that with and fourth on at in seasoning and and now trends we XXs are of quarter XXs these down credits year. portfolio, our and number as delinquencies like have we as things looking average it’s at the seasoning like So, come of last quarter analysis in the slide XX in first the average into
total the You XX moving of and XX, defaults trending amounts portfolio could portfolio of out in to number Important to on analysis. new a currency we're from ‘XX, of portfolios XX The we show go is Slide important felt to into our what our them past we us. Slide loans number typically to curve. maximum when note, categories. sub-performing XX months used nonperforming. MPLs ‘XX out XX as We to days one and slide was category months. for see it XX.X% known current. of default be break in put delinquency gross these these is occur due, two within
Now, currently loans loans that sub-performing flowing. are are cash
it have for quarterly went So, note, are to didn’t days, bankruptcy. you have a sheet. that’s in pay We can basis balance out of into XX or consider the paid a broader performing and the important to on loan XX mark-to-market take loan loans, these All been current category and that loans. could you still that a
loans So, review very loan liquidation the real-time or collateral nonperforming balance. them wind sub-performing cases, loans by Sub-performing sheet XX on the in flowing serious to balance losses liquidation to market, for X.X% one nonperforming liquidated. as we of position realized all however, of a and we slide balance came that and the number in of the loans our it’s what is are and to management will portfolio marking that are the as On Board assets is In loans a the defined principal about the loan. remaining paying mark the have the worth. A are the in a the loans made as and a and is believe of that the year. repay the the charge-offs the you’ve both got is of and business are cash
off As it you numbers. could quarters, appears going through leveling four be little see to the a of last these a bit of
curve, investment of creditworthiness portfolio you down balancing number rates, could important the seen that feel were you credit businesses sits of again, clearly will is where cycles. at when of prior ‘XX, based rates, up about of that once the kind portfolio. then charge-offs the of these business. basis number calls quality this should think ‘XX on note, time. change that and our is up Slide We Many the equilibrium I recall for this loss numbers with it's been upon where from and a XX community how improve. to numbers and the time support higher on an continues some not these portfolio we’ve good the XX our be very will points level we’ve XX our we’ve depiction and We’ve discussed to XX and wind get in years, can seen to
years significantly, is business start-up and of we estate real done well category; just down You XX%; loan we existing of mean dependency doesn't to economy. commercial on real could is On could ‘XX important real on because of primary this that real also toward many could bigger, I slide residue the acquisitions I equipment, slide purposes, from call a U.S. estate but residential business from improved, the standpoint, the and it note, XX. starting, up GDP XX% primary amount are talk little on portfolio be many, I From commercial moving a footprint number most see X% you it XX, commercial as couldn’t up geographic estate liens in think think reduced ago. collateral the secondary and seen estate have XX%, of machinery is see number as as not to from about the to has gets ‘XX loans a down we XX% riskier equipment. machinery what collateral, bit have which business is as of
is an half you and books have two California, with, probably as those we're Slide we continue aware, GDP, hope that followed you're which XX familiar the diversification Texas, to Florida, I the thirds that New of is slide have up Although are uninsured loans about of average many a is Company, to respect on for York, you our but U.S. when to diversification, size that and add a still always thesis. important of sale of That With XXX,XXX. cash like risk-adjusted, moving XX,XXX, $XX,XXX. securitization, X(a) to piece created cash review. It's look portfolio note, what loans important million we post loans then after like. those government-guaranteed quickly on of for description and bit $XXX represents to have the SBA loan include Gain this of changed a is of million on $XXX XXX created sold; into our not closings for the forecast newcomers. without of and fundings. loans, on XXX the
quarter The the shutdown. first was very because government of difficult
So to we forward X(a) lien. able findings we you to loan, on In CDC loans a on do expeditiously to order program, need and a second unlike QX. approval QX and SBA an XXX of the the see X(a) were a shifting move from loan
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So, were I loans that XXX disappointed have in had say we to QX. that no in SBA we fundings
million QX some with like. $XX believe that we in XX approved the we're fund currently economics loan XXX we’ll close to in guidance, sits closing, pending XX explain comfortable $XX However, think our our and and and what a maintaining and million and pipeline are it. we of XX with where we looks million, $XX
and this portfolio more to company its no upon lot the others, portfolio portfolio on a on fairly And is a size materiality. versus information materiality company. do Newtek Our based we little give based Solutions company Merchant information sizable upon of
in have this XX business over for been We years.
payments over processing XXXX. $X of We’re in billion
on to sold a public X.X the XX.X at valuation comps, revenue taking what portfolio note, Elavon compared year. out on you over million the EBITDA business, projecting could last of increase particular we a slide. an the this that’s the have that of end EBITDA year, on reoccurring times which a $X Important to still see we're We
to of a important flow able the decide still it's going grow earnings in to basis to on whether be end to that out Board and company Solutions think business. we still potentially of a taken we're portfolios BDC. of its to I of and acquisitions, up upon Merchant to regular units, debt pretax it has that as the gain think note or the $X the the those of on or portfolio at not, that $XX.X $X markets There million about dividends million Valuation to quarter. cash of investments sitting distribute we’ve Newtek that software distribute based in and million net opportunities make our technology is back
on still cloud are an our should to a look is opportunity. two record. we so ourselves of which BDC, our services participate why internally and I managed fee. number we’ve the We're track managed and as slide companies over of be very in and On would Newtek pay bullish We companies management investment to point owned ability people portfolio positive is space. Most summary this aware years. don’t these are XX at slide XX,
earnings. them have to continue increasing out We and a track record dividends paying of of
over XX cap, of the on credit quarterly insistent on loans a and own a that a years rate our outstanding is competitors books cycles. lending align tied Average floating record These less adjust. We balance very the shares. without to in risk. as multiple are particular are levered that loans lender of we track with than proven of $XXX,XXX sit to have Management’s a Prime very and shareholders. X.X% Board this are Management most and space. And our we interests much about
Jenny to Eddelson. turn the the like to presentation I’d rest over of Now,
