Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 52

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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424,555 4,644 996 1,465 431,660 Total$19,555,332 $64,105 $53,901 $129,473 $19,802,811 As a % of total gross loans98.75 %0.33 %0.27 %0.65 %100 %Loans reaching 90 or more days past due are generally placed on nonaccrual. As of March 31, 2025 and June 30, 2024, there were loans of $2.3 million and $20.2 million, respectively, over 90 days past due and still accruing interest as the Company expects to collect the principal and interest amounts due.Single family mortgage loans in process of foreclosure were $34.8 million and $20.1 million as of March 31, 2025 and June 30, 2024, respectively.Loan Modifications to Borrowers Experiencing Financial Difficulty. The Company may grant certain modifications of loans to borrowers experiencing financial difficulty, which effective following the adoption of ASU 2022-02, are reported as financial difficulty modifications (“FDMs”). The Company’s modification programs provide various modifications to borrowers experiencing financial difficulty which may include interest rate reductions, term extensions, payment delays and/or principal forgiveness. For the three and nine months ended March 31, 2025 and 2024, there were no FDMs.

5.    DERIVATIVES

For additional information on the Company’s derivative instruments, see Note 1—“Organizations and Summary of Significant Accounting Policies”, Note 3—“Fair Value” and Note 6—“Derivatives” in the 2024 Form 10-K and Note 2—“Fair Value.”The following table presents the notional amounts and fair values of the Company’s derivative instruments. While the notional amounts give an indication of the volume of the Company’s derivatives activity, the notional amounts significantly exceed, in the Company’s view, the possible losses that could arise from such transactions. For most derivative contracts, the notional amount is not exchanged, rather it is a reference amount used to calculate payments. As of June 30, 2024, there were no derivatives designated in hedge accounting relationships.March 31, 2025June 30, 2024Fair ValueFair Value(Dollars in thousands)Notional AmountDerivative AssetsDerivative Li