Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 41

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Mortgage & Warehouse$4,149,778 $4,178,832 Multifamily and Commercial Mortgage13,430,948 3,861,931 Commercial Real Estate16,214,834 6,088,622 Commercial & Industrial - Non-RE5,809,877 5,241,766 Auto & Consumer420,937 431,660 Total gross loans20,026,374 19,802,811 Allowance for credit losses - loans(270,605)(260,542)Unaccreted premiums (discounts) and loan fees(269,042)(310,884)Total net loans$19,486,727 $19,231,385 1 Includes purchased credit deteriorated (“PCD”) loans of $281.3 million and $284.0 million in Multifamily and Commercial Mortgage and $44.5 million and $44.5 million in Commercial Real Estate as of December 31, 2024 and June 30, 2024, respectively. For further detail on PCD loans, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2024 Form 10-K.Accrued interest receivable on loans held for investments totaled $111.3 million and $119.8 million as of December 31, 2024 and June 30, 2024, respectively.At December 31, 2024 and June 30, 2024, the Company pledged certain loans totaling $4,326.2 million and $4,942.8 million, respectively, to the FHLB and $8,129.0 million and $8,197.2 million, respectively, to the Federal Reserve Bank of San Francisco (“FRBSF”).The following table presents loan-to-value (“LTV”) for the Company’s real estate loans outstanding as of December 31, 2024:Total Real Estate LoansSingle Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateWeighted-Average LTV47.5 %55.7 %51.0 %40.1 %Median LTV52.0 %53.0 %49.0 %43.9 %The following table presents the components of the provision for credit losses:For the Three Months Ended December 31, For the Six Months Ended December 31, (Dollars in thousands)202