Newtek Forms Alliance Relationship With Amalgamated Bank

Amalgamated Bank to Offer Newtek's Products and Services Through its 24 U.S. Branches

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Sep 09, 2014, 09:00 ET

NEW YORK, Sept. 9, 2014 /PRNewswire/ -- Newtek Business Services, Inc.NASDAQ: NEWT, The Small Business Authority®, announced today that it has signed an alliance referral agreement with Amalgamated Bank. Amalgamated Bank, an FDIC-insured commercial bank with over $3.5 billion in assets, has chosen to expand its existing menu of small business services and offer Newtek's products and services, including Merchant Processing, eCommerce Solutions, Lending, Payroll, Web Services, Cloud Services and The Newtek Advantage™, through its 24 branch locations in the U.S. The alliance relationship will enable Amalgamated Bank's customers to obtain assistance with choosing the best solutions for their individual business needs through the expertise of Newtek's business service specialists and the support of Newtek's premier 24/7/365 customer-service team.

Barry Sloane, Newtek's President, Chairman and Chief Executive Officer said, "We welcome the opportunity to join with Amalgamated Bank, with its deep-rooted presence in American banking for over 90 years highlighted by its steadfast commitment to labor, the backbone of American prosperity. We believe our integrated product suite uniquely positions us to support Amalgamated's mission to provide impactful, cost-effective products and services to its customers, including its focus on not-for-profit organizations and socially conscious, political-action committee groups, as well as to its large number of local small business owners, particularly in underserved neighborhoods and markets. Newtek's ability as a one-stop-shop to finance a business, increase a businesses' visibility with a strong website and web-presence, provide full eCommerce and payment processing solutions, store customer data securely and help to manage expenses with web-based payroll processing, offers every Amalgamated customer the chance to grow their businesses and gain a competitive edge in their particular market."

"We are excited to join with Newtek to provide an even greater roster of services for our clients," said Keith Mestrich, Chief Executive Officer of Amalgamated Bank. "Newtek's tools and customer service infrastructure will enhance our ability to provide top-notch support for our growing base of small business clients."

About Newtek Business Services, Inc.
Newtek Business Services, Inc., The Small Business Authority®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek's products and services include: The Newtek Advantage^™, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing, Payroll.

About Amalgamated Bank
Since its founding in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has been committed to affordable and accessible banking for all. The bank is proud to continue to advance the rights of workers through shareholder activism, products and services designed to protect workers and advocacy. The Bank's corporate divisions include Community Banking, Investment Management and Commercial Lending. Amalgamated has 24 retail branches including 20 in New York City as well as branches in: Las Vegas, Nevada; Lyndhurst, New Jersey; Pasadena, California, and Washington, D.C. Visit www.amalgamatedbank.com.

The Small Business Authority® is a registered trade mark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.

For more information, please visit the following websites:
www.thesba.com
www.amalgamatedbank.com

Contacts:
Newtek Business Services, Inc.
Barry Sloane
Chairman and CEO
212-356-9500
[email protected]

Amalgamated Bank
Connor Osetek
646-200-5282
[email protected]

Newtek Business Services, Inc.
http://www.thesba.com
Public Relations
Contact: Simrita Singh
Telephone: (212) 356-9566 / [email protected]
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
Contact: Brett Maas
Telephone: (646) 536-7331 / [email protected]