Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 91

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 thousands)20242023Operating Activities$233,298 $152,734 Investing Activities$(314,758)$(1,741,869)Financing Activities$569,115 $970,772 

During the six months ended December 31, 2024, we had net cash inflows from operating activities of $233.3 million compared to inflows of $152.7 million for the six months ended December 31, 2023. Net operating cash inflows and outflows fluctuate primarily due to the timing of the following: originations of loans held for sale, proceeds from loan sales, securities borrowed and loaned, and customer, broker-dealer and clearing receivables and payables and changes in other assets and payables.

Net cash outflows from investing activities totaled $314.8 million for the six months ended December 31, 2024, while outflows totaled $1,741.9 million for the six months ended December 31, 2023. The decrease in outflows was primarily due to absence of the FDIC Loan Purchase and a lower net change in loans held for investment in the six months ended December 31, 2024 as compared to the six months ended December 31, 2023.

Net cash inflows from financing activities totaled $569.1 million for the six months ended December 31, 2024, compared to net cash inflows from financing activities of $970.8 million for the six months ended December 31, 2023. The decrease in net cash inflows from financing was primarily driven by lower net increase in deposits during the six months ended December 31, 2024.

As of December 31, 2024, the Bank could borrow up to 35% of its total assets from the FHLB. Borrowings are collateralized by pledging certain mortgage loans and available-for-sale securities to the FHLB. At December 31, 2024, the Company had $2,839.1 million available immediately and $4,812.6 million available with additional collateral and the Company had $4,326.2 million of loans and $0.1 million of securities pledged to the FHLB. At December 31, 2024, we had $250.0 million in unsecured federal funds lines of credit with five major banks under which there were no borrowings outstanding.

The Bank has the ability to borrow short-term from the FRBSF Discount Window