Company: AX
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001299709-25-000125
Chunk: 135

Company: Axos Financial, Inc.
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 135
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 respect to (i) effects on interest income and interest expense attributable to changes in volume (changes in volume multiplied by prior rate); and (ii) effects on interest income and interest expense attributable to changes in rate (changes in rate multiplied by prior volume). The change in interest due to both volume and rate has been allocated proportionally to each based on the relative changes attributable to volume and changes attributable to rate.

Fiscal Year Ended June 30, 2025 vs 2024Increase (Decrease) Due to(Dollars in thousands)VolumeRateTotalIncrease(Decrease)Increase (decrease) in interest income:Loans$153,412 $1,800 $155,212 Non-purchased loans83,831 5,107 88,938 Purchased loans69,581 (3,307)66,274 Interest-earning deposits in other financial institutions21,319 (14,107)7,212 Mortgage-backed and other securities(5,237)(816)(6,053)Securities borrowed and margin lending1,046 2,039 3,085 Stock of the regulatory agencies737 (335)402 Total increase (decrease) in interest income$171,277 $(11,419)$159,858 Increase (decrease) in interest expense:Interest-bearing demand and savings$75,720 $(69,479)$6,241 Time deposits(8,225)(833)(9,058)Securities loaned(624)240 (384)Advances from the FHLB(827)(608)(1,435)Borrowings, subordinated notes and debentures(1,288)(561)(1,849)Total increase (decrease) in interest expense$64,756 $(71,241)$(6,485)

Interest Income. For fiscal year 2025, interest income increased $159.9 million, or 9.7%, compared to interest income in fiscal year 2024, primarily reflecting higher interest earned on loans, mainly attributable to higher loan balances.

Interest Expense. For fiscal year 2025, interest expense decreased $6.5 million, or 0.9% compared to interest expense in fiscal year 2024, primarily attributable to lower rates on interest bearing demand and savings deposits and lower average time deposits, advances from the FHLB, and other borrowings. These decreases were partially offset by higher interest-bearing demand