Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 115

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 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)2024202320242023Provision for credit losses - loans$11,748 $12,500 $23,248 $18,250 Provision for credit losses - unfunded lending commitments500 1,000 3,000 2,250     Total provision for credit losses$12,248 $13,500 $26,248 $20,500 The following tables summarize activity in the allowance for credit losses - loans by portfolio segment:For the Three Months Ended December 31, 2024(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotalBalance at October 1, 2024$17,453 $65,608 $95,032 $76,555 $9,206 $263,854 Provision (benefit) for credit losses - loans(1,355)(6,334)7,422 8,030 3,985 11,748 Charge-offs— (3,197)— (130)(2,495)(5,822)Recoveries6 — — — 819 825 Balance at December 31, 2024$16,104 $56,077 $102,454