- Newtek Bank (NASDAQ: NEWT) appoints Peter Downs as President and Frank M. DeMaria as Chief Financial Officer after successful transformation.
- The bank achieved outstanding performance metrics in 2024, with a 42% efficiency ratio and over 40% return on tangible common equity.
- NewtekOne leverages advanced technology platforms like The Newtek Advantage® to deliver 24/7/365 business solutions.
NewtekOne, Inc. (NEWT, Financial) has made significant leadership changes by appointing Peter Downs as the President of Newtek Bank, N.A., and Frank M. DeMaria as the Chief Financial Officer of the company. These appointments follow the bank's impressive transition from a single-branch to a national digital bank after acquiring the National Bank of New York City in January 2023.
The bank has reported notable financial performance in 2024, including a 42% efficiency ratio, a 6% return on assets, and a return on tangible common equity exceeding 40%. These metrics underscore the effectiveness of the management team and the bank's strategic direction.
Additional executive appointments include Thomas Soucy as Chief Credit Officer and Nicholas Leger as CFO for non-bank subsidiaries. Andrew Kaplan, the Chief Strategy Officer, has also joined the bank's board.
NewtekOne continues to enhance its service offerings through its technology platforms, such as The Newtek Advantage®, NewTracker®, and Newtek File Vault™, providing comprehensive business and financial solutions to independent business owners with a 24/7/365 service model.
CEO Barry Sloane emphasized the company's focus on technology and innovation as it prepares for the next chapter of growth. The company is also celebrating another successful Asset-Backed Lending Program (ALP) securitization. NewtekOne remains dedicated to delivering advanced solutions and exceptional service to its clients nationwide.
