Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 152

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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766 26,102 33,664 Commercial & Industrial - Non-RE70,859 4,020 66,839 Auto & Consumer2,180 2,472 (292)Total nonaccrual loans$251,532 $113,359 $138,173 Foreclosed real estate75 1,840 (1,765)Repossessed vehicles—Autos581 610 (29)Total non-performing assets$252,188 $115,809 $136,379 Total nonaccrual loans as a percentage of total loans1.26 %0.57 %0.69 %Total non-performing assets as a percentage of total assets1.06 %0.51 %0.55 %

Our non-performing assets increased to $252.2 million at December 31, 2024 from $115.8 million at June 30, 2024, primarily as a result of an increase in non-accrual loans of $138.2 million, partially offset by a decrease in other real estate owned and repossessed vehicles of $1.8 million. Non-performing assets as a percentage of total assets increased to 1.06% at December 31, 2024 from 0.51% at June 30, 2024.

Available-for-Sale Securities

Total available-for-sale securities were $97.8 million as of December 31, 2024, compared with $141.6 million at June 30, 2024. During the six months ended December 31, 2024, we purchased $22.4 million of securities and received principal repayments of $67.0 million. The remainder of the change for the available-for-sale securities portfolio is attributable to changes in the fair value of the securities.

Deposits

Deposits increased by $0.6 billion, or 3.0%, to $19.9 billion at December 31, 2024, from $19.4 billion at June 30, 2024. As of December 31, 2024 compared with June 30, 2024, interest-bearing demand and savings increased $629.2 million and non-interest-bearing deposits increased by $14.1 million, while time deposits decreased $67.6 million.

The following table sets forth the composition of the deposit portfolio:

December 31, 2024June