Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 89

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 $0.6 billion, or 3.0%, to $19.9 billion at December 31, 2024, from $19.4 billion at June 30, 2024. As of December 31, 2024 compared with June 30, 2024, interest-bearing demand and savings increased $629.2 million and non-interest-bearing deposits increased by $14.1 million, while time deposits decreased $67.6 million.

The following table sets forth the composition of the deposit portfolio:

December 31, 2024June 30, 2024(Dollars in thousands)AmountAmountNon-interest-bearing$2,989,759 $2,975,631 Interest-bearing demand and savings$16,074,678 $15,445,490 Time deposits870,467 938,096 Total interest bearing$16,945,145 $16,383,586 Total deposits1$19,934,904 $19,359,217 

1 Total deposits includes brokered deposits of $1,570.8 million and $1,611.6 million as of December 31, 2024 and June 30, 2024, respectively, which include brokered time deposits of $400.0 million and $400.0 million as of December 31, 2024 and June 30, 2024, respectively.

45

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

December 31, 2024June 30, 2024December 31, 2023Non-interest-bearing48,930 55,772 47,846 Interest-bearing checking and savings accounts527,590 495,070461,293 Time deposits3,631 4,6965,682 Total number of deposit accounts580,151 555,538514,821

Total Bank deposits that exceeded the FDIC insurance limit of $250,000 or were not collateralized at December 31, 2024 and June 30, 2024 were $2.2 billion and $2.1 billion, respectively. The maturities of time deposits that exceeded the FDIC insurance limit were as follows:

(Dollars in thousands)December 31, 20243 months or less$148,902 3 months to 6 months183,537 6 months to 12 months6,640 Over 12 months3,479 Total$