Company: AX
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001299709-25-000125
Chunk: 131

Company: Axos Financial, Inc.
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 131
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 %14.84 %13.82 %Axos Bank:Tier 1 leverage (to adjusted average assets)10.23 %9.74 %9.68 %Common equity tier 1 capital (to risk-weighted assets)12.42 %12.74 %11.63 %Tier 1 capital (to risk-weighted assets)12.42 %12.74 %11.63 %Total capital (to risk-weighted assets)13.70 %13.81 %12.50 %Axos Clearing LLC:Net capital$86,996 $101,462 $35,221 Excess capital$81,834 $96,654 $29,905 Net capital as percentage of aggregate debit item33.71 %42.21 %13.25 %Net capital in excess of 5% aggregate debit item$74,091 $89,442 $21,930 Asset Quality Ratios:Net charge-offs to average loans outstanding0.13 %0.05 %0.04 %Nonaccrual loans and leases to total loans0.79 %0.57 %0.52 %Non-performing assets to total assets0.71 %0.51 %0.47 %Allowance for credit losses - loans to total loans held for investment1.36 %1.34 %1.00 %Allowance for credit losses - loans to nonaccrual loans5170.23 %229.84 %191.23 %

1 See “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Use of Non-GAAP Financial Measures.”

2 Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate paid on interest-bearing liabilities.

3 Net interest margin represents net interest income as a percentage of average interest-earning assets.

4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income.

5 The decrease in the allowance for credit losses - loans to nonaccrual loans as of June 30, 2025 is primarily attributable to the change in nonaccrual loans. 

RESULTS OF OPERATIONS

Our results of operations depend on our net interest income, which is the difference between interest income on interest-earning assets and interest expense on interest-bearing liabilities. Our net interest income