Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 44

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 as loan growth, increases in specific reserves and certain qualitative adjustments, mainly in the commercial & industrial - non-RE portfolio.Loan products within each portfolio contain varying collateral types which impact the estimate of the loss given default utilized in the calculation of the allowance for credit losses for loans. For further discussion of the model method of estimating expected lifetime credit losses, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2024 Form 10-K. The following tables present a summary of the activity in the allowance for credit losses for off-balance sheet lending commitments:

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Three Months Ended December 31, (Dollars in thousands)20242023Balance at October 1, $12,723 $11,723 Provision for credit losses - unfunded lending commitments500 1,000 Balance at December 31, $13,223 $12,723 Six Months Ended December 31, (Dollars in thousands)20242023Balance at July 1, $10,223 $10,473 Provision for credit losses - unfunded lending commitments3,000 2,250 Balance at December 31, $13,223 $12,723 The increase in the allowance for off-balance sheet lending commitments for the three and six months ended December 31, 2024, was primarily driven by unfunded lending commitment growth, primarily in the commercial & industrial - non-RE portfolio.Credit Quality Disclosures. The following tables provide the composition of loans that are performing and nonaccrual by portfolio segment:December 31, 2024(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotalPerforming$4,080,208 $3,381,791 $6,155,068 $5,739,018 $418,757 $19,774,842 Nonaccrual69,570 49,157 59,766 70,859 2,180 251,532 Total$4,149,778 $3,430,948 $6,214,834 $5,809,877 $420,937 $20,026,374 Nonaccrual loans to total loans1.26 %June 30, 2024(Dollars in thousands)Single Family-Mortgage & WarehouseMultif