Company: AX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001299709-25-000184
Chunk: 141

Company: Axos Financial, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 141
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 2025 and June 30, 2025, respectively.

The following table sets forth the number of deposit accounts by type:

September 30, 2025June 30, 2025September 30, 2024Non-interest-bearing51,876 50,967 49,086 Interest-bearing checking and savings accounts562,880 546,678527,058 Time deposits2,704 2,9564,379 Total number of deposit accounts617,460 600,601580,523

Total deposits that exceeded the FDIC insurance limit or were not collateralized at September 30, 2025 and June 30, 2025 were $3.0 billion and $2.6 billion, respectively. The maturities of non-collateralized time deposits that exceeded the FDIC insurance limit were as follows:

(Dollars in thousands)September 30, 20253 months or less$1,617 3 months to 6 months5,928 6 months to 12 months5,750 Over 12 months1,708 Total$15,003 

Borrowings and Secured Financings

The following table sets forth the composition of our borrowings and the interest rates:

September 30, 2025June 30, 2025September 30, 2024(Dollars in thousands)BalanceWeighted Average RateBalanceWeighted Average RateBalanceWeighted Average RateFHLB Advances$60,0002.07 %$60,0002.07 %$90,0002.32 %Secured financings736,9685.52 %—— %—— %Borrowings, subordinated notes and debentures510,0645.50 %312,6714.55 %313,5194.56 %Total borrowings$1,307,0325.35 %$372,6714.15 %$403,5194.06 %Weighted average cost of total borrowings during the quarter5.03 %4.66 %4.26 %Total borrowings as a percent of total assets4.76 %1.50 %1.71 %

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 We regularly use advances from the FHLB to manage our interest rate risk and, to a lesser extent, manage our liquidity position. Generally, FHLB advances with terms between three and ten years have been