Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 150

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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(Dollars in thousands)December 31, 2024June 30, 2024FDIC insured deposit program balances at banks$1,359,139 $1,289,105 Margin balances$274,486 $219,848 Cash reserves for the benefit of customers$126,821 $113,676 Securities lending:Interest-earning assets – securities borrowed$114,672 $67,212 Interest-bearing liabilities – securities loaned$135,258 $74,177 

FINANCIAL CONDITION

Balance Sheet Analysis

Our total assets increased $0.9 billion, or 3.7%, to $23.7 billion at December 31, 2024, from $22.9 billion at June 30, 2024, primarily attributable to an increase in cash and cash equivalents and loans. Our total liabilities increased $0.6 billion, or 3.0%, to $21.2 billion at December 31, 2024 from $20.6 billion at June 30, 2024, primarily attributable to higher deposit balances.

Loans and Allowance for Credit Losses - Loans

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

December 31, 2024June 30, 2024(Dollars in thousands)AmountPercentAmountPercentSingle Family - Mortgage & Warehouse$4,149,778 20.7 %$4,178,832 21.1 %Multifamily and Commercial Mortgage13,430,948 17.1 %3,861,931 19.5 %Commercial Real Estate16,214,834 31.1 %6,088,622 30.7 %Commercial & Industrial - Non-RE5,809,877 29.0 %5,241,766 26.5 %Auto & Consumer420,937 2.1 %431,660 2.2 %Total gross loans20,026,374 100.0 %19,802,811 100.0 %Allowance for credit losses - loans(270,605)(260,542)Unaccreted discounts and loan fees(269,042)(310,884)Total net loans$19,486,727 $19,231,385 

1 Includes PCD loans of $281.3 million and $284.0 million in Multifamily and Commercial