Company: AX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001299709-25-000184
Chunk: 59

Company: Axos Financial, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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11.        SEGMENT REPORTING AND REVENUE INFORMATION

Segment Reporting. The operating segments reported below are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), in deciding how to allocate resources and in assessing performance. The operating segments and segment results of the Company are determined based upon the management reporting system, which assigns balance sheet and income statement items to each of the business segments and by which segment results are evaluated by the CODM in deciding how to allocate resources and in assessing performance. The Company evaluates performance and allocates resources based on pre-tax profit or loss from operations in conjunction with its corporate strategy. Salaries and related costs represent the significant segment expense that is regularly provided to the CODM.  For more information on the Company’s operating segments, see Note 22—“Segment Reporting” in the 2025 Form 10-K.In order to reconcile the two segments to the consolidated totals, the Company includes corporate activities and intercompany eliminations. The following tables present the operating results, goodwill, and assets of the segments:For the Three Months Ended September 30, 2025(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$287,200 $8,194 $(4,344)$291,050 Provision for credit losses17,255 — — 17,255 Non-interest income112,375 29,457 (9,492)32,340 Salaries and related costs55,340 14,750 6,515 76,605 Other segment items273,153 14,617 (8,129)79,641 Non-interest expense1128,493 29,367 (1,614)156,246 Income before taxes$153,827 $8,284 $(12,222)$149,889 For the Three Months Ended September 30, 2024(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$288,492 $7,267 $(3,711)$292,048 Provision for credit losses14,000 — — 14,000 Non-interest income18,590 29,902 (9,883)28,609 Salaries and related costs51