Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 77

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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,560 1,020 1.93 %185,198 1,459 1.58 %Advances from the FHLB88,534 1,036 2.34 %90,000 1,059 2.35 %Borrowings, subordinated notes and debentures322,239 7,999 4.96 %384,892 10,045 5.22 %Total interest-bearing liabilities17,552,960 368,183 4.20 %15,137,667 318,854 4.21 %Non-interest-bearing demand deposits2,954,332 2,672,180 Other non-interest-bearing liabilities795,059 703,876 Stockholders’ equity2,409,355 1,976,335 Total liabilities and stockholders’ equity$23,711,706 $20,490,058 Net interest income$572,147 $439,761 Interest rate spread74.01 %3.48 %Net interest margin85.00 %4.46 %

1.Average balances are obtained from daily data.

2.Annualized.

3.Loans include loans held for sale, loan premiums and unearned fees.

4.Interest income includes reductions for amortization of loan and investment securities premiums and earnings from accretion of discounts and loan fees.

5.Purchased loans include loans, loan discounts and unearned fees related to the FDIC Loan Purchase. 

6.Margin lending is the significant component of the asset titled customer, broker-dealer and clearing receivables on the unaudited Condensed Consolidated Balance Sheets.

7.Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate paid on interest-bearing liabilities.

8.Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.

38

Average Balances, Net Interest Income, Yields Earned and Rates Paid

The following table sets forth the effects of changing rates and volumes on our net interest income. Information is provided with respect to (i) effects on interest income and interest expense attributable to changes in volume (changes in volume multiplied by prior rate); and (ii) effects on interest income and interest expense attributable to changes in rate (changes in rate multiplied by prior volume). The change in interest due to both volume and rate has been allocated proportionally to each based on the relative changes attributable to