Company: AX
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001299709-25-000125
Chunk: 136

Company: Axos Financial, Inc.
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 136
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 and savings deposit balances.

Provision for Credit Losses. For fiscal year 2025, provision for credit losses increased $23.2 million compared to the provision for credit losses in fiscal year 2024. See “Asset Quality and Allowance for Credit Losses - Loans” for discussion of our allowance for credit losses and the related provision for credit losses.

Non-interest Income. The following table sets forth information regarding our non-interest income:

For the Fiscal Year Ended June 30,(Dollars in thousands)20252024Inc (Dec)Broker-dealer fee income$45,233 $48,136 $(2,903)Advisory fee income31,794 31,335 459 Banking and service fees38,195 35,723 2,472 Mortgage banking and servicing rights income13,007 10,000 3,007 Prepayment penalty fee income2,837 5,069 (2,232)Gain on acquisition— 92,397 (92,397)Total non-interest income$131,066 $222,660 $(91,594)

For fiscal year 2025, non-interest income decreased $91.6 million, or 41.1% compared to non-interest income in fiscal year 2024. The decrease was primarily the result of the absence of the gain on the FDIC Loan Purchase as compared to fiscal year 2024, as well as a decrease in broker-dealer fee income on lower rates earned on cash sorting balances. These decreases were partially offset by an increase in mortgage banking and servicing rights income, reflecting net gains on loan sales in fiscal year 2025, and higher banking and service fees.

40

Non-interest Expense. The following table sets forth information regarding our non-interest expense for the periods shown:

For the Fiscal Year Ended June 30,(Dollars in thousands)20252024Inc (Dec)Salaries and related costs$297,955 $250,873 $47,082 Data and operational processing80,433 69,370 11,063 Depreciation and amortization29,019 27,086 1,933 Advertising and promotional47,760 42,797 4,963 Professional services37,572 36,532 1,040 Occupancy and equipment17,705 16,704 1,001 FDIC and regulatory fees