Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 1

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 3
Chunk 1
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949,8231,872,2524,199,807123,04222,144,924Non-interest-earning assets————774,893Total assets$15,949,823$1,872,252$4,199,807$123,042$22,919,817Interest-bearing liabilities:Interest-bearing deposits3$16,800,453$45,214$221,489$—$17,067,156Advances from the FHLB——60,000—60,000Total interest-bearing liabilities16,800,45345,214281,489—17,127,156Other non-interest-bearing liabilities————3,369,753Stockholders’ equity————2,422,908Total liabilities and equity$16,800,453$45,214$281,489$—$22,919,817Net interest rate sensitivity gap$(850,630)$1,827,038$3,918,318$123,042$5,017,768Cumulative gap$(850,630)$976,408$4,894,726$5,017,768$5,017,768Net interest rate sensitivity gap—as a % of total interest earning assets(3.84)%8.25 %17.69 %0.56 %22.66 %Cumulative gap—as % of total cumulative interest earning assets(3.84)%4.41 %22.10 %22.66 %22.66 %

1 Comprised of U.S. government securities, mortgage-backed securities and other securities. The table reflects contractual repricing dates.

2 Loans includes loan premiums, discounts and unearned fees. The table reflects either contractual repricing dates or expected maturities.

3 The table assumes that the principal balances for demand deposits and savings accounts will reprice in the first year.

The above table provides an approximation of the projected re-pricing of assets and liabilities at December 31, 2024 on the basis of contractual maturities, adjusted for anticipated prepayments of principal and scheduled rate adjustments. The loan and securities prepayment rates reflected herein are primarily based on modeled cash flows. For the non-maturity deposit liabilities, we use decay rates and rate adjustments based upon our historical experience and the implied forward rate curve, respectively. Actual repayments of these instruments could vary substantially if future experience differs from our historical experience.

Although “gap” analysis is a useful measurement device available to management in determining the existence of interest rate exposure,