Good morning, everyone, and welcome to our first quarter 2022 financial results conference call.
Today on the call, thank you, Jayne Cavuoto, Director of Investor Relations, I am also here today with Nick Leger, our Chief Accounting Officer, and we will be making the presentation.
We are very, very excited about reporting our first quarter results.
We are proud to announce that we beat analyst estimates of $0.62 adjusted NII a share for the Q1 consensus coming in at $0.72 of adjusted NII.
I'd like to move everyone forward -- move everyone to the forward-looking statement slide on number one.
with statement time convenience. at your take that slide forward-looking your Please
important absorb It's that. you
two. number Slide
Historically, proven company record the has of great with successful track a growth. shareholder value creation
Obviously, most markets have all three-year, pretty [returns Russell March of] a We you QX. and market stellar, been the all XX-year look XXXX. are financial XX, one-year, at difficult projecting our XXXX. indices, the particularly well-aware we When [Ph] against take in particularly are five-year, returns,
is regulated sent Company market, speak. under to the it's yourself XXXX company's On the mailed, out of Important a over return little proxy, definitive was it we're Newtek quarter. be and and business, first August is acquire topical position record capitalization NEWT XXX%, City Xnd, the million with delivering to down electronically as all earnings election investors' in of decline be respect I quarter regulatory important And better Board with National SEC please the in now back market to Our proxy statement will of proxy you the its track date. company to number today's of $XXX its recently first mailed May down in objectives. approval. we the as the vote for Directors would investors familiarize which very the approval Russell our withdraw the New its to subject of very and and and allow has and three. with announced growth with confidence Obviously successful the about like total excited and plan that its in authorize X.X% York indicative its as to than Bank to results intent Slide filed to shareholder of seeking report for Act. to the to being was in investment
the risk looked could that what's the And forward. it's everybody and CEOs able in being York and it's National once clear one statement read I opportunity company, total It going we've increases when New rate factors. Newtek of of company again, its a both aspects important grow the the that able at But returns, at we statement, to risk ourselves to encourage City. both for earnings, of the to been our be tell able read been importantly, to finance factors all its able is grow to to ability very sheet, it a grow of Some proxy only acquire grow historically, versus the of people BDC bank looking sides. is it's its return, Bank to our it's been growth against to its on holding balance the dividend. including been
the acquire Bank one New the to of So, of commercial cost of on reliance reasons primary York National for financing. potential higher reduce opportunity is to its City
to fund at financing have couple more over ability raising growth the forward BDC core stock of months I see its apparent it's retail particularly and deposits interest holding you would commercial think done that of when using the selling in be what going company debt by last of lieu rates shares the readily attractive.
be its about on will and demand as BDCs as can future a able and be talking way. And base. XXX% about off wouldn't a a as addition, it approximately holding able this although chatting owning it banking service a go we bank client use that being X:X bank, banking holding of to to bank In in a slides company offer leverage, and debt, have start or coverage high more asset limitation XX:X, to would company
opportunity management of mission, the the value. Once company really that employees the team, will and believe same financial shareholder years, we talk technologies it's same same shareholders just additional we also developed creating important over our the different to Newtek, properly, all again, and we stakeholders structure that will just but value very XX passion, course the beneficial the same to in and the a Dashboard with we unlock same that of have NewTracker, including it's the evaluated not of about be Importantly, clients. to NewtekOne built that and note
homegrown real to the slide metrics business particularly Moving deliver things able competitors, one and model have to upon our important is four; developed that's the I our based we've to that number of technology. think been superior are
[Ph] a system leverage our in we to the technology more homegrown Newtek. technologies will structure. And within NewTracker file-vault, [wild] is be able new
our of clients those familiar with acquire a which us really company, much you that easier to are enables manner. in NewTracker,
talk we which in will referrals typically about slides terrific. We quarter a the future get that are in
be we clients basically And business very, branches, that will for We or acquire without brokers, tool will that very their successful believe developing a great about are talking a our clients that will dashboard our clients upon. and and able to is depending we development make valuable. The clients. tool it officers, bankers; more windup
similar to done road the that into has to JV to Livo spinout a unlocking the value nCino. With license the subject with Newtek with what it and Bank to vote useful for to to approval, respect be with NewTracker down may dashboard potential be able technology
has matter a stakes sale million. a equity fact, over gained their nice It the job. announced Livo Bank of one Finxact, $XXX done As of very to recently
really have a technology. they So, terrific created
of benefits use it. technology the of they One is creating a them
place. acquiring we've payment clients, value licensed relate Lending a business a at When to So, file-vault, businesses of of XX we've data a it. Newtek in insurance all dashboard What have in technology, the but one a have [Ph] that you agent, we used our And thing we've way dashboard going should we all not to positioned deliver able as as to originations remote to be Dashboard, been and business technology our the is we've the ranches, will value bankers, Officer, use filed Number technology, deposit you. the be, silos software seeing, a lot trademarked And owner, come specialist, is clients, we see results, lower able business transfer all this to first to Dashboard connectivity, system, from a we've connect, required again; workforce, demonstrate the BDOs, QX core we and business-oriented the able SBA and Slide silos give shareholders. it. the a for some create the manner, on that's you dashboard of in already brokers, well, me tech with our particularly you're of relationship preliminary transferring to once necessarily we we're screen and companies to because just a to to actually is expense specialist, patent ratios pandemic, client run the as are five] is these able a is our tech technology-enabled and believe been use data. believe, a be that people specialist, NewtekOne they to the bank. able NewTracker because look today The through our of in here We years. in technologies, don't cases and enable they'll the we acquisition use numbers on got to deliver X, our be [all a to value that will NewtekOne owner to application, that that through business your needs. This strategy what they the to over talking be in
matter So, shipped technology When on this will for And being to it's and nobody as just a enabled than chat overseas and loans. think to, it's somebody of to demand. really just not be more version the with of over that deposits of about bank, I software, of our think course banking, banking. I to talk banking time,
of it definition and last However, integrate debit payment this Master business providing securing being this you could credit, entails documents, on to able that money for day, ledger solution data general aspects day, base. move for payroll, these a And it's last client our be our business this dashboard quarter security And Visa around to informational. deposits, ultimate see real year, banking year, versus a this be processing, year, traffic, all and versus will that be and this website this will important to quarter, tool. into will goal going owner, a be terrific year, for our transactional,
Next slide, please.
us So, all because in to we've use we unique, talked to in tool enhance but the again about the business the today. it's once been dashboard, And unique the technology not we businesses. these marketplace, unique, extremely maybe
the in driving not but owners just And once perspective, it one we're just on. single repository, one sign business depository, dashboard, into relationship from relate multiple. to to a one again, to one person allows up Now it institution,
a be without, to Our create as that and Slide are please. to recognized number market use we we tool, will and tremendous can vision clients have the seven, is the that clients believe want value the for shareholder ultimately of unlock road. dashboard not this down technologies types that the these
plowed of not through that But through going months our yet, nine what this. we're go. transformation, As have we more little about we a excited we call we're there we're although still bit to
We have shareholder activity. observed
to number to point I at a of I lot a shareholders important your that trying over of don't eight. performance Lending the various the bank had stock out in stock. of a a conclusions the the shareholders. are Newtek XX% who and see prefer trajectory our people million company, Someone we funding which make million shares BDC is important sold most believe indicative We XX. the it. January from transition is Newtek? went draw beneficial track believe to And I July almost X.X analyze that X, audience non-objecting investors through that company, that shares, to of as Slide remarkable. time, transparency highlights, a they're first $XXX previous own the said decision. fact that to shareholder their was of of why read the that what you is $XXX or tracked pretty record believe X(a) speak structure the that data all, of have on for grasp just to that pointed not quarter, to see important. And and this I outstanding may on be that owner of and to own people reports the the announcement first total of to are we holding loans this conversion own look type and fully could And people potential you to we've million And bank you had we've think selling of may versus relative discussing XX, Well, ask the looking also ultimately We bullet, some of position, list. out I prior we transaction. the on, periods
look So, when SBAs September ends at XX. year that with SBAs data the you calendar the on a
largest blow their year portfolio So, for their the quarter the blow second in their to months important States, in borrowers first a the lenders end first Typically out annual the United with will six pipeline, light year, quarter the financing lender make why? major the a of they SBA and X(a) most of earnings the to out is is lending, fourth of at note, for seasonal tend component. their do to there quarter, the
to we is ability our why books? to we we're are credit? my than going no, just increase loans nothing that cutting to no. trying Are opinion is less now, to easier, are I and answer that? is remarkable The just mean numbers than on So, the we no into get put being those
$X.XX year $XX $XXX for loan ended a this course loans the businesses quarter straight the the prior. here, million in we Switching million year the increase which to operational for quarter of Program, of our management to XX% are example million wholly apart That's Once you growth. we being over of to QX approximately the take the closings XXXX, same once be to about the be increase Protection recently just Paycheck into line. XXX categories, calendar XXX forecasting owned the technological, alone. the a how a that'll which companies, the Business portfolio once relates to year-prior. one $XXX able XX.X% be that Newtek increase. the the share know company of in do We're a to which to pandemic, will made from an note, is shift a affect income XX% talk this going of origination conservative, had over at $XXX we've important. our in closed forecasting great to be that Lending, can't we're And type nimble the full-year, us to fee in of So, going again, and XX portfolio outperformance we Important years. the changes $XXX company into again, $XX about again, Important controlled of million million try in over real never of revenue received million in we
still So, the is now staff. expense using there, were because the same we
and last of paid year. component, the a when changed in to So, a intend equaling always you the we're the good to pay for QX that $X.XX revenue we QX in months dividends, out because the adjusted $X.XX $X.XX you on ability quarter, pretty earnings, XX% that year, first you dividend of would a out earnings, expense out forecasted the course first of six through a dividend the is which of NII NII think think our adjusted generate from take hasn't dividend
that are deliver which we full-year because ask community well. endeavor earnings of to with, fact company. QX, And is impressed be the will really $X.XX holding into the those have of company the an do forecast outstanding earnings analyst tracking important first as shareholder normally it's BDC we the potential So, is this a we a of But note the not real quarter, base for conversion think real, well. projected our to aware bank to and we we we
at when that the million XXXX So, fee PPP of included quarter you $XX.X look results, financial first income.
difficult, Slide comparisons seamless more nine. in that the changes enabled our did see again, lending to friction quickly, brokers, in. frictionless borrowers And referrals data numbers, Performance that's but to get no BDOS, Once pre-qualify the we've the of number point very out drivers, release. really some bankers, a pipeline our our borrower made us that and valuable, press data eligible certain are little the platform NewTracker to the this reduction manner. and the of made to coming has you'll So, a large transfer we numbers in no process no to in been and get this the are ability inquest. with exchanged borrower that very from
technology, using different very going we're that payroll, ability the be lending, seeing across our So, use solutions, to cetera, payments, in powerful very, to technology insurance, we're units, et which tech all tool.
it like utilizing, get using hope technology for institution, the best the say, the that overnight it and it takes years for hear We error disruptive them really years. player as innovator and organizations to of what to of are we're integrate to find success, been it. at same We've this. example technology-oriented lot software, an time There's a good and at staff that's took to and in give it's and XX we seem many it. I just a an trial their
about are When very excited NewTracker very, the how we across we're are course the look positioned. year system, We referral we about at XXX,XXX. of averaging
came and average, in we've seen We first quarter numbers PPP, year April of the are May. a before, averaging at in because higher better referrals primarily and last and year lower
has right mix says slide objectives world the all. be capability Gavin, Well, in brought of we that We've number quarter forward. to staff plus upward at that job during got want Finance with We all pick year the stuff. done or them its to Newtek's as or level record and We in Newtek a Casey under provide really of under a real the Swabby, metrics has with, the staff, it think XXX,XXX that given it's really people, Peter Lending XX. we've right Virginia Wiley credit are Go the an got Pablo, we pipeline quickly, us referrals through and with senior great enables President continue great our and really to of got Officer resignation, a Business pandemic-oriented Downs. and Chief Virginia growth place So, and to of on to, success. a made we this Justin we've the changes direction to go our dealing technology the us who going the we've their Peter out Chief XXX,XXX good have feel Downs, major Anna team the and improving borrowers Officer. management Small tremendous track also right of Operating
you look the X(a) metrics for when XX.X% up take across pipeline, year, the a So, XXX% the important at closings. in three up
closings these to in tend quarter. Typically the Finally are in closings fact and of June, always two up month pile are in March, early very month. and valuable, one a that on that these third closings in occurring
very steady Now, we're a nice exciting. throughout; very, seeing flow
have pipelines, We growth. also nice five very
it obviously coming slowed conventional this the We through pipeline, down. confirming pandemic, are not initiative
to going are it. We talk about
to unit closed in XXXX, XX, XXXX, efficient. important, exaggerated Go XXX in wiser, all extremely degree that, same Growth our the more in much, XXX database we are slide that equally are XXX as this that March, income quarter are period in we the market. are a to are could year customers loan obviously down loan are those are units ended can now, lending do you technology, doing -- line to are be clearly initiative, January But very to earned talk upon improved better in nothing types to with goals of off a great excited process, We had of better great track, staff pipeline this of anything are easy about exit non-conventional we the based and growth We ours, see lending. about we being we getting else paying The referrals, securitization excited, in metrics compared we're we on units. sizes the we XX,XXX units next. the loan much attention. Thank same credit for on number to period you. in aware, from a
you for certainly cross-marketing and in business see cross-selling dashboard the cross-selling and not cross-marketing, years are XXX,XXX X.X picking extensive will as and are do. and and you of showing about the in are database, concept over their up go effortless, technological they the selecting year. of it loan that history opportunities underwriting depositors, front you expertise. makes million referrals you got for have a banking all the dashboard and only When people wares things of an assembly your when not to really you're XX of in banking environment think do, We the client We've
company we've XXXX, in the well was downward We markets are about leader not strongly has down-credit, cycles, are our upward through volatile been that. certainly these rodeo, XXXX, businesses, cycles, public up-credit, very very and first in feel September founded right a been now. of Company done in one company since we navigating and all
this and once emphasize we the looking success staff. improved our Slide growth again, at that we future. keep XX, bullet, operations materially growing have positioned entire are business number can for is So, last not, and our in
I to Our are more staff adding and are business growth while is expenses, which Slide filling. calls anticipation road, follow. talked a clearly as it for pipelines on we seeing was people on now thought XX. yes, we capacity prospect I we but number adding to do so about put more the and better this are to makes this are also to our business our from of we analysts know, it important disclosure, little down the easier slide bit on this paper, an of felt I you
their And a think So, types are and Goldilocks of of of have looking a equating come portfolios it out done. little period and bond equity we've the frankly, of well. Goldilocks that lot we lending I for at as to a bit people
XXXX. CARES ended a in the guarantee, pandemic, created the XX% which During Act
and today as get to guarantee. into all So, of the a SBA you that XX% go on are number guarantee loans
prices. was more see guaranteed get higher fees and two, subordinated which CARES sale about Once was gave piece, bit One, part again, paid, not were relate And a So, XX% the lot. for be interest note, created year, last or note, bit gain servicing this prices, or participation that it's the or waived, It's have invested that uninsured, We've less else that ask to to more important type XXXX versus we calendar that important Act, in coupon, XX we we there price we the be our in anything a issues. previously. will But came might don't bond at it's you sale, basis the prices, but fee, income creates lower capital change gain me in a is important for matter. to QX. please obtuse, XXX.X little on point stated which us. XX% don't to little actually not the higher got on which this of think but And certificate. perspective. under a And dramatic will don't an to two to you pull a but that rates that note from of PPP financings a say pressure, income forecast XXX any
on million point have had forgiven got forgiveness I XX we've we've think units, PPP course think focused last million company loan time. I units year, units, of at XX those this I think the We about XX,XXX we've XX,XXX -- throughout in a -- of gotten by gotten
and So, numbers. and down excited for in Important to we've dividend that strokes the QX, here the the are We're seeing With our business. very core that QX, available numbers that is got earnings we're reported loan you're note, resources on to short getting everything this. about said, forgiveness.
a to we're dealing financial dividends talk I going our models, Slide it. number with got changes. first we've isn't We're back comfortable was revelation. forecast, make get highlights. want We've into one dividends and slide. wait this point So, I with new it. till quarter our this this come very 'XX that just I well got our but these to already is I'll the about I'll to XX, to into
also in probably try thing total $X.XX highlights PPP, from would adjusted investment fee allotment forecast X.XX, more a same consensus to of of beating that for affected consider increased ratio had with changes quality X% by X.X, million widening, headline about Total that $X.XX. was by QX X.X%, in low this NAV and investment $XX.X still well. what up NAV capital income performance the in volatility of And the Slide income spreads at given forward. all going talk was yes and by dramatically we've performed cost we of our year. our to investment of we advantage and we down transitioning. that see has net the last NII, think extraordinarily we came You asset were number portfolio came leverage take performance could Debt-to-equity for relative income XX,
once I lending that will PPP in note, million to $XX think our again non-lending of of repositioning on very I from income, in important Newtek transitioning $XX EBITDA million Newtek portfolio away XXXX. been successful do comment we've core take Solutions itself into achieve Merchant products. companies our path Solutions, also to back
about contributions Leger $X.XX of Nick dividend sort to that that, stockholder approval our million paid will lending we our make Although we report NewtekOne the to on opportunity dividends. QX. forward, XX, going Dashboard. and and customer under lot shareholders and to and point solutions was base. a we expected efforts these first solutions all NMS, incredibly Slide a our are have that to umbrella business business regulatory talk financial Cross dividend, number flagship excess other out of XXXX dividends, of so in NBL and NTS both quarter businesses valuable a as believe I subject $X an across will through vote I selling
to out upon at want We But forecasts QX like be going going those are dividend from look this the you to which holding with point of year, an not if $X.XX. potential $X.XX the and and and a again, those try those forecasted changes figure That's giving out in figure you investors, to bank have in of trying following we're QX. that that QX, forecasting time, analyst you forward. a based are us are company. things for who perspective to what Once the
$X.XX the can for what in follow you, that analysts certainly I that $X.XX, of month your forward. NII. four growth given We're I our NII take look months six six income lost going the looked dividend fee I'll forecast, adjusted let will us, tell the $X.XX, $X.XX, we for for you at averaging forecast first all adjusted year and You $X.XX own as of results proud the draw we particularly the did extremely at conclusion. our that expected a year-over-year this year year. PPP
move number Got okay. XX. Let's forward it, Slide to
means it's of So, increasing want we obviously, environment. of look generally managing a the extremely just business, good this about to folding coming in very and for Chairman we topical, off done rising yesterday. historically particularly markets, comments rate job at what Powell's a the talk right interest rates, rates We've
X(a) quarterly cap. portfolio a no floater over prime, Our is
credit also of floating lines are Our rate.
with Moon and portfolio both the could upon our and loan you has are by floating our of program a the the that we that hedges and for see or brilliant And ago, in rate. some Our JV lucky portion well hedging, appropriately impressed that the months securitizations of X(a) a believe are we're bit matched. non-conforming either We treasury SBA began in our managed function. hedging I'm margins XX our results way Brian very been About are durations or done, based a XXX, loans. the on little XXX this of both. we've
upward. When that. indicative points had we company in good likely, liability adjust think basis of securitization net managing could asset done good of gross a you risk I fixed is a job This point our SBL. We bond The most XXX they X.X%, sold have very coupon securitized XXX we them. match. rate this the to of The adjust coupon a to of they X.X%. venture, basis have securitization that million does goes management. see, X.XX%. of marketplace. asset at basis floors on propensity in servicing the that portfolio get a XXX was the But joint a was is points liability in and called When was The $XX coupon loans
get we slide We growth some that it. taking rate XX. and oriented of lockstep have, of more addition which having which on which question. we're as sell to think able are checking on everybody aspects all a shares pull reliance cost But to still the treasury move We higher that filing. deposits, core stock, and proxy the you a and once to being use amount rates, don't talked number in sense, in recommend tremendous effectively again, make Let's with to being the about able leverage with and finance it per well commercial assets our in to able of would proxy reducing rising funding, to share the environment, of earnings being strongly not read as dilute without
rate this see holding you does security. treasury. to for a a bank a we've going Newtek potentially when about you mean BDC, company rising what backed X%, yield rated AAA X%. as environment, five-year got It's a asset So, That's today, versus
look of you want when selling versus to have time the is be you -- shares is rising. retail benefits a lower prices you want deposits, when to banks core rates bank, when and BDC So, when don't are stock are the when at
welcome in landscape, works a have of post-COVID. all Slide extremely into constituents, Work our big Important competitive at reading you we we all us. number model because constituency taking So, for Home we working hybrid the XX. consideration. We April. environment proxy, began an that workforce, slide is these factors have our and
it is, everybody's key of One of screen. on aspects the
clients. we'll and everybody's down a that important? compliance want methods We that, on for our Why with further further road. is that of have tracking and we and But screen. relationship watching So, to have pushing be and the
them the have and well. category. have PPP well SBA Obviously, out And flexibility are work we're of is new well don't just the excited of workers as delivered how how the on able adding to office that's but units. thrilled and of loans, their time, number in collaboration that silos accepting, be well the $XXX do. number of been of we've But particularly in in to their the think a the office other to flexibility we've million perform indicative that clients home, to work an screen. setting. as loans, interested X(a) give about and in the we mix. our them camaraderie, with portion we've a record from on report staff four home, we've as gives record We The metrics XXXX, the a training model, in a also slide. that been and into to first to funding, that, going XX,XXX pandemic, which number the from the is quarter our Our X(a) common right million $XXX to Slide And XX do we as during the as doing clearly got
net the trending loan pleased down. prices. You've We're to with we number coming $XX seen always that. is note Important $XX $XXX,XXX. just We Slide update talks very million, almost average diversification. on That like this XX, the about with size portions it, dollars guaranteed important our by income, of X(a) of is its grew sale. a million available of on interest million year-over-year. number trend. per This Slide balance interest quarter very XX, less as it X/XX sheet for expense; income
that's to now business. in obviously reoccurring, So, origination be back continuing we're to that we'll add the portfolio the
have area $X excess a SBL as $X.X the in that how could programs jinx the very we have should little on we Slide this out, to our type So, XX see ourselves, with the we're rated the that as try we has unit think very, add very of nice for curve. seasoning that is portfolio our mean business portfolio I season We loans our I'm portfolio, and to said, is both XX, to serve servicing of a people current, to ratio regulator come credit that size and the well our we has important program over became can billion that portfolio that With to maybe I we NSPF, an credit very currency major But do. in years QX. about billion, area. servicing excited This I portfolios as because exception most believe the with note, S&P we're very in pleased news, be $X.X of done gets, time about for types number I loans, our employees a billion. which period. loans or this extraordinary. trend of of coming pleased Don't transparent comes are to more for And done of our full we've performed. portions we've new as good are XX, more it we employee that XX. our talk and work great the difficult through think servicing that with be is customers, as XX point in want these of it's union the retention got done for bit the portfolio we a into have be this Slide things FDIC that down, in you our XX gone. number model.
our of them, ended So, June. from borrowers last every say the but of don't one, them getting single have I benefits gotten are that that the most these benefits most
won't had, or news make tools clients, were capitalize, encourage our in good years, to them Slide we've had last we the of lending the really downsize, shown I number an XX them, our so we from side. well. on is the slides sense. time on kept get And active it's classic for that we we've with don't partner rid will too that XX, liquid XX that as the So, spent rate. currency worked We service much things that
for company of the talked the XX.X% we closed the through for go Let's portfolio year. $XX.X million increase a projecting so about quarter Program, and million from XXX $XX.X loans up we're review,
as loan, We have lines Slide XX of the plenty XXX business economics with lending this shows number capacity of of our put on. to XX more well.
very close the million loans we're excited forecast non-conforming of loan XXXX. Slide happy joint agreement Newtek, for We talked Trust program of venture in $XXX partner go the We're conventional about equity done Loan We've number non-conforming NCL XXXX, conventional area, ventures. number Slide with securitization new with We a institutional to Business $XXX XX, of a of Let's in notes, through a an in about finalizing $XX.X a extremely conventional that capital. the goal investor million talked got to non-conforming loan XX. million execution. joint about it. of
management that required basis develop XX% you it look is did, to of to want it, a the equity point if XXX XX% of at going try spread underneath you that it securitization For to forward. liability those asset an income model we for this,
double-digit could XXX we excess So, in basis of are that get. not see including fee returns point of that you the servicing equity
us. for these So, this loans attractive the growth is this Thinking a about $X program, of typically very average million. program
conforming tremendous will for how all shareholders. lot growth million, we'll units we're and Slide So, category, and a XXX,XXX income, fit big XXX the where once slot in we my bond leverage is. This and could units, year, XXX getting again, future cost see we're loans you in as C&I proxy the origination into, loan for big talked very the category doing funnel, over those a putting XXX exciting goes units worth loans. infrastructure come excited. a we're it get bank. really for Once do conforming and servicing CRE approval. it's the referrals and the to where each quarter, gets NCL of that this we business this for loans existing in XXX,XXX benefits great funnel us, of about dollars year, $X an coming a and regulatory into billion referrals probably into its a XXX of X(a) disclaimer, opportunity And loan favorite them again, using fee, number conventional subject of future, to XX, program, and non-conforming of That's Newtek the XXX platform a
another rebound has potentially future excited out. them, Solutions, programs, puts XX, great NMS of believe on on what and keeps about very, I to spending a slide a be growing. very and year volume million system. Square the with security I a fraction big us Slide growth some of believe increase, Newtek spot. of number whichever our core and number year, us, POS this our we XX, system won't about X.X% Slide the business payment we growth strong. for will excited of thank by our the data competitive, So, to our waning, NMS you, the and users Managed and effects much turns into because EBITDA opportunity, and be last existing it's source XX. other extremely for the very again that processing consumer $XX.X way POS details for by but a to here it valuation business have clearly On about using the cover. get our seems of competitors in $XX.X Tech have the in future Merchant still million. forecast, really risk believe We $X number We're lot XXXX that equally adding combined replace finance pandemic winner about forecasting of we developed pretty million money too rebounded, is We're Clover. business, calendar Solutions these done, assessments, of of system a once We're XX POS deposits for together, excited
Payroll a the XX Directors Melissa months and Walker both to Sloane the Our alliance slide from insurance excited and and we've Vestal and of Razon, base. out nice We're to lift last our solutions offer technology in insurance units. partners number their about give being shout agency positioning alliance client some to and want Shannon partners Operations payroll to are Sam picking able and and gotten Clearly, Kyle up. our On it agency. XX,
we the over both people the me shareholders I forward during shares. numbers for XXXX. best for the number my say, looking important EBITDA what's X.X% We like and the I to and delivering types look indices analyzed at what's of are against agency most payroll interests positive all but seat XX-year like insurance we've all and Management is of Slide of do well, you difficult like pandemic proven thing? than of difficult the XX, can C total shareholders like they in time. proxy shareholders, out the and this why like a And XXXX different returns, to and and getting track we've 'XX. stakeholders. all read dividends. performing of well I align that something to be and benefits for as earnings. got and outstanding I this XXXX aligned making strongly B be record half and are very that has proven them. market we through to suggestions consider. in 'XX in just a that and XXXX times nimble. should Company operate might much they the look to at very XXXX. the And in quickly making that and is The important. conditions, shareholders interests Management's entirely and that market suggestion with really second That's it
our the our So, board The environment, rate efforts endeavors. particularly continue supported management those a we've in to from shareholders We in look recommendations the has recommendations and forward board. and we arising made to us we've good studied to of believe markets very team commercial financing. all support
business have income. providing We of model streams diversified multiple
lot just things not do we a of and a are X(a) lender, here. We
job have as We as of or first lives, in vote XX it's got very of multiple streams very, do technology valuable. good to income, and really clients. were we lot a be forward subject disrupter for a eight seven approval. our years technology-enabled the BDC going a and believe regulatory solutions years as the used of share We a last we a We've potentially to bank, provider the of as a
years transitioning that remind We have call company comment to turn and bank a it's the Nick have construct want everybody by a holding the please also in great statement before positioning are a built to that to today. in hidden shareholders. conference over think BDC the I I this opportunity presentation would and in once the We we I the proxy a is May done, dated going interest technology into best somewhat is XX company. of its Once we've value have like over that unlock again, Q&A, provider X. Nick Leger, to read to to we different
go wanted a you quick up. is to We'll format more bit Instructions] a give different. [Operator this but heads our I little So, time, one over
before that Ledger. that Nick right. I'd that, organization you state presentation like you ask over your to rest With to of I question. we got and name please For ask the turn a everybody, your the
three in We now. company Nicks have the
our So, Chief Nick Ledger, you, Officer. Thank Accounting Nick.
