Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 113

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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):Agency1$29,835 $83 $(2,659)$27,259 Non-agency2110,658 838 (568)110,928 Total mortgage-backed securities140,493 921 (3,227)138,187 Municipal3,788 — (364)3,424 Total available-for-sale securities$144,281 $921 $(3,591)$141,611 1 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.2 Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by prime, Alt-A or pay-option adjustable rate mortgages.

14

The Company evaluates available-for-sale securities in an unrealized loss position based on an analysis of a number of factors, including, but not limited to: (1) the credit characteristics of the securities, such as the forecasted cash flows, credit ratings, credit enhancement, and government agency or government-sponsored enterprise backing, as applicable, and (2) whether the Company intends to sell or will be required to sell any of the securities before recovering the amortized cost basis. Based on its analysis, the Company determined the unrealized losses on available-for-sale securities are primarily driven by the increase in interest rates since the securities were purchased and, accordingly, no credit losses were recognized on available-for-sale securities in the three and nine months ended March 31, 2025 and March 31, 2024. There was no amount in the allowance for credit losses for available-for-sale securities at March 31, 2025 and June 30, 2024.The face amounts of available-for-sale securities pledged to secure borrowings were $0.7 million and $0.8 million as of March 31, 2025 and June 30, 2024. There were no sales of available-for-sale securities during the three months and nine months ended March 31, 2025. There were no available-for-sale security sales for the three months ended March 31, 2024. The Company sold a $4.8 million available-for-sale security for the nine months ended March 31, 2024.Securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were:March