Company: AX
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001299709-25-000125
Chunk: 144

Company: Axos Financial, Inc.
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 144
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 and 2024, see Note 5—“Loans & Allowance for Credit Losses” in the Consolidated Financial Statements. Non-performing assets include nonaccrual loans plus other real estate owned and repossessed vehicles.

Non-performing assets consisted of the following:

At June 30,(Dollars in thousands)202520242023Non-performing assets:Nonaccrual loans:Single Family - Mortgage & Warehouse$44,196 $45,711 $30,714 Multifamily and Commercial Mortgage33,037 35,054 35,103 Commercial Real Estate29,223 26,102 14,852 Commercial & Industrial - Non-RE61,804 4,020 2,989 Auto & Consumer2,126 2,472 3,502 Total nonaccrual loans170,386 113,359 87,160 Foreclosed real estate4,535 1,840 6,966 Repossessed - Autos505 610 1,133 Total non-performing assets$175,426 $115,809 $95,259 Total nonaccrual loans as a percentage of total loans0.79 %0.57 %0.52 %Total non-performing assets as a percentage of total assets0.71 %0.51 %0.47 %

Our non-performing assets increased to $175.4 million at June 30, 2025 from $115.8 million at June 30, 2024. The increase in non-performing assets during the fiscal year ended June 30, 2025 was primarily the result of an increase in non-accrual loans of $57.0 million, specifically commercial & industrial - Non-RE, and an increase in other real estate owned and repossessed vehicles of $2.6 million. Non-performing assets as a percentage of total assets increased to 0.71% at June 30, 2025 from 0.51% at June 30, 2024.

45

Allowance for Credit Losses - Loans. The following table sets forth the changes in our allowance for credit losses, by portfolio class for the dates indicated: 

(Dollars in thousands)Single Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotalTotal            Allowanceas a % of Total