Peter Downs Named President of Newtek Bank, N.A.
NewtekOne, Inc. has announced that Peter Downs has been named President of Newtek Bank, N.A., effective immediately. Downs has been with the Company since 2003 and has played a crucial role in the development and execution of the Bank’s financial strategy. His appointment is seen as a significant step towards the Company’s continued growth and success.
- Downs has 22 years of experience in the banking industry, with a strong background in lending and financial services.
- He has been instrumental in helping the Company build its technology-enabled platform and strategy.
Frank DeMaria Named Chief Financial Officer
Frank DeMaria has been appointed as the new Chief Financial Officer (CFO) of NewtekOne, Inc. DeMaria has extensive experience in financial management and has a strong track record of delivering results in his previous roles. His appointment is seen as a significant boost to the Company’s financial capabilities.
- DeMaria has a proven ability to drive growth and profitability in his previous roles.
- He has a strong understanding of the financial markets and regulatory environment.
Scott Price Maintains Role as Chief Financial Officer of Newtek Bank
Scott Price will continue to serve as the Chief Financial Officer of Newtek Bank, N.A., focusing on developing and executing the Bank’s financial strategy. Price’s experience and expertise in financial management will be instrumental in driving the Bank’s growth and success.
New Management Structure
The new management structure, announced by NewtekOne, Inc., is designed to drive the Company’s continued growth and success. The structure includes the appointment of Peter Downs as President of Newtek Bank, N.A., Frank DeMaria as CFO, and Scott Price maintaining his role as CFO of the Bank.
| NewtekOne, Inc. | Financial Holding Company |
| Newtek Bank, N.A. | Banking Services |
Quote from Barry Sloane, CEO
“We acquired National Bank of New York City on January 6, 2023, and couldn’t be more pleased with our progress. We integrated and transformed a single-branch, OCC-chartered, manual-process bank in Flushing, NY, into what we believe to be a state-of-the-art, technology-enabled digital bank with a national presence. The Bank’s 42% efficiency ratio, 6% return on assets, and 40%+ return on tangible common equity for 2024 clearly speaks volumes of the management teams we have in place at the Company and the Bank. We have enacted these management changes to prepare NewtekOne for its next chapter of growth, which will continue to rely on our in-house developed applications – The Newtek Advantage®, NewTracker®, and secure Newtek File Vault™ – to provide our independent business owner clients with superior business and financial solutions on demand and by on-camera staff available 24/7/365.”
Technology Solutions
NewtekOne, Inc. offers a range of technology solutions, including:
- Cloud Computing
- Data Backup and Storage
- IT Consulting
- Web Services
About NewtekOne, Inc.
NewtekOne, Inc. is a financial holding company, established in 1998 and publicly traded since September 2000. The Company provides a wide range of business and financial solutions to independent business owners across all 50 states.
Services Offered
NewtekOne, Inc. offers a range of services, including:
- Banking (Newtek Bank, N.A.)
- Business Lending
- SBA Lending Solutions
- Electronic Payment Processing
- Accounts Receivable Financing & Inventory Financing
- Insurance Solutions
- Payroll and Benefits Solutions
Quote from Barry Sloane, CEO (continued)
“… We will continue to make management changes with a focus on helping to grow and shape the Company in our quest to embrace technology and provide financial and business solutions to our independent business owner clients. We are also thrilled to have, today, reported another successful ALP securitization and look forward to reporting and discussing our quarterly financial results and anticipated progress for the rest of 2025.”
Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995 are based on the current beliefs and expectations of NewtekOne’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. Information regarding loan and deposit metrics consist of preliminary estimates and are subject to change with our filings with regulatory agencies and the filing of the Company’s Form 10-Q for the period ended March 31, 2025. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in our filings with the Securities and Exchange Commission which are available on NewtekOne’s website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
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