Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 162

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 162
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243,971$1,785,646$4,252,235$125,927$23,206,934Interest-bearing liabilities:Interest-bearing deposits3$16,835,184$245,010$220,001$—$17,300,195Advances from the FHLB——60,000—60,000Total interest-bearing liabilities16,835,184245,010280,001—17,360,195Other non-interest-bearing liabilities————3,372,600Stockholders’ equity————2,474,139Total liabilities and equity$16,835,184$245,010$280,001$—$23,206,934Net interest rate sensitivity gap$(591,213)$1,540,636$3,972,234$125,927$5,047,584Cumulative gap$(591,213)$949,423$4,921,657$5,047,584$5,047,584Net interest rate sensitivity gap—as a % of total interest earning assets(2.64)%6.88 %17.73 %0.56 %22.53 %Cumulative gap—as % of total cumulative interest earning assets(2.64)%4.24 %21.96 %22.53 %22.53 %

1 Comprised of U.S. government securities, mortgage-backed securities and other securities. The table reflects contractual repricing dates.

2 Loans includes loan premiums, discounts and unearned fees. The table reflects either contractual repricing dates or expected maturities.

3 The table assumes that the principal balances for demand deposits and savings accounts will reprice in the first year.

The above table provides an approximation of the projected re-pricing of assets and liabilities at March 31, 2025 on the basis of contractual maturities, adjusted for anticipated prepayments of principal and scheduled rate adjustments. The loan and securities prepayment rates reflected herein are primarily based on modeled cash flows. For the non-maturity deposit liabilities, we use decay rates and rate adjustments based upon our historical experience and the implied forward rate curve, respectively. Actual repayments of these instruments could vary substantially if future experience differs from our historical experience.

Although “gap” analysis is a useful measurement device available to management in determining the existence of interest rate exposure, its static focus as of a particular date makes it necessary to utilize other techniques in measuring exposure to changes in interest rates. For example, gap analysis is limited in its ability to