NewtekOne subsidiary Newtek Bank appoints Vik Mahajan as CIO

NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT) announced today that Newtek Bank. N.A., the Company’s bank subsidiary, has hired Vaibhav “Vik” Mahajan as Chief Investment Officer. Mr. Mahajan will be responsible for enhancing and optimizing Newtek Bank’s execution of loan sales, including SBA 504 loans and the government-guaranteed portions of SBA 7(a) loans; in addition, he will run point on sourcing loan purchase and sale opportunities for Newtek Bank. With 25 years of experience in investment banking, financial services, and consulting, Vik brings a wealth of knowledge, experience, and contacts to Newtek Bank. Most recently, Mr. Mahajan was chief strategy officer and head of capital markets and data analytics for iCreditWorks where he led strategic initiatives across business expansion, commercial partnerships, and capital markets. Prior to iCreditWorks, Vik led the Financial Institutions Group (FIG) investment banking efforts at Deutsche Bank and Credit Suisse. Mr. Mahajan holds an M.B.A. from the University of Rochester’s William E. Simon Graduate School of Business Administration and a B.S. in Mechanical engineering from the National Institute of Technology Karnataka, a top ten engineering school in India.

Barry Sloane, President, Chairman and CEO said, “We are fortunate to have attracted an individual with the experience and skillset of Mr. Mahajan. As part of Newtek Bank’s strategy to originate and sell SBA 504 and the government-guaranteed portions of SBA 7(a) loans, Vik will play an instrumental role in maximizing outcomes in the execution of loan sales. He will also lead efforts to source other loan purchase and sale opportunities as we optimize the Bank’s loan portfolio. Mr. Mahajan’s contacts across capital markets and his experience as a Depository and Specialty Finance investment banker should prove invaluable as we continue our journey as a financial holding company.”

Mr. Mahajan remarked, “I am thrilled to join the exceptional team at NewtekOne. Having known Barry and the NewtekOne platform for over 12 years from my time in investment banking, I have always admired the Company’s innovative business model. I believe that NewtekOne is uniquely positioned to deliver top-tier financial solutions to independent business owners, and I am excited to be given the opportunity to contribute to the Company’s next chapter of growth and success.”

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