BOCA RATON, Fla. – NewtekOne, Inc. (NASDAQ: NEWT), a financial holding company, today announced the appointment of Andrew Kaplan as Chief Strategy Officer. With over 35 years of banking and financial services experience, Kaplan brings a wealth of knowledge to the NewtekOne team, particularly in digital banking and business line management. Kaplan’s previous role as Chief Digital Officer at Flagstar Bank, N.A. saw him revitalize the digital brand and transform it into a leading digital bank, achieving significant deposit growth and a significant increase in account numbers over a two-year period.
His career has spanned multiple senior positions, where he was responsible for retail product and service development, treasury management, and institutional deposits, among other areas. Barry Sloan, Chairman, President and CEO of NewtekOne, praised Kaplan’s unique capabilities and insight in recognizing the potential for innovation and development in NewtekOne’s banking and commercial services model.
Sloan emphasized that Kaplan’s expertise will be instrumental in enhancing the customer experience and developing the Newtek Advantage®, which aims to deliver value-added business solutions to commercial clients. Kaplan expressed his excitement to join NewtekOne and his commitment to leveraging the company’s comprehensive offerings to drive growth, enhance customer success, and strengthen NewtekOne’s market leadership. NewtekOne has served independent business owners across the United States since 1999, offering a broad range of business and financial solutions under the Newtek® brand. This includes banking, lending, payment processing, technology, insurance, payroll services, and more.
This news comes as part of NewtekOne’s ongoing efforts to expand its financial solutions portfolio and provide cutting-edge services to its clients. This information is based on a press release issued by the company. Meanwhile, NewtekOne reported a strong second quarter for 2024, beating analyst expectations with earnings per share (EPS) of $0.43. The company also reaffirmed its full-year EPS guidance of $1.85 to $2.05.
This strong performance was driven by strong growth in deposits and loans, as well as the successful launch of the Newtek Advantage business portal and the recent securitization. These latest developments highlight NewtekOne’s strategic maneuvers and financial flexibility. While the company has divested a major technology subsidiary, it continues to deliver strong financial performance, beating analyst expectations. These are exciting times for NewtekOne as it navigates a changing landscape while maintaining a focus on growth and performance.
