M&A Deal Summary

NewtekOne Acquires National Bank of New York City

On August 2, 2021, NewtekOne acquired financial services company National Bank of New York City for 264M USD

Acquisition Highlights
  • This is NewtekOne’s 2nd transaction in the Financial Services sector.
  • This is NewtekOne’s largest (disclosed) transaction.
  • This is NewtekOne’s 5th transaction in the United States.
  • This is NewtekOne’s 3rd transaction in New York.

M&A Deal Summary
Date 2021-08-02
Target National Bank of New York City
Sector Financial Services
Buyer(s) NewtekOne
Deal Type Add-on Acquisition
Deal Value 264M USD
Advisor(s) Piper Sandler & Co. (Financial)
Silver Freedman Taff & Tiernan (Legal)

Target

National Bank of New York City

New York, New York, United States
National Bank Of New York City is a banking company that provides financial services to clients. National Bank of New York City was formed in 1963 and is based in New York, New York.

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Buyer(S) 1

Buyer

NewtekOne

Boca Raton, Florida, United States
Category Company
Founded 1998
Sector Business Services
Employees559
Revenue 105M USD (2022)
DESCRIPTION

Newtek Business Services is a provider of a wide range of business services and financial products under the Newtek brand to the small- and medium-sized business ("SMB") market. Newtek Business Services was founded in 1998 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 5 of 5
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (New York) 3 of 3
Country (United States) 5 of 5
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 banc-serv Partners

Westfield, Indiana, United States

banc-serv Partners LLC is a provider of lending process, including credit analysis, structuring and eligibility, packaging, closing compliance and servicing over 350 lending institutions with outsourced solutions for the entire U.S. Small Business Administration ("SBA").

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-12 Newtek Technology Solutions

New Hyde Park, New York, United States

Newtek Technology Solutions provides dedicated server hosting, cloud hosting, data storage, managed security, backup and disaster recovery, and other related services including consulting and implementing technology solutions for enterprise and commercial clients. Newtek Technology Solutions is based in New Hyde Park, New York.

Sell $4M
Mergr

Product

Company

Legal