Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 148

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 148
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 includes corporate activities and intercompany eliminations. Inter-segment transactions are eliminated in consolidation and primarily include non-interest income earned by the Securities Business Segment and non-interest expense incurred by the Banking Business Segment for cash sorting fees related to deposits sourced from Securities Business Segment customers.

The following tables present the operating results of the segments:

For the Three Months Ended March 31, 2025(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$272,260 $6,942 $(3,738)$275,464 Provision for credit losses14,500 — — 14,500 Non-interest income12,666 30,611 (9,904)33,373 Non-interest expense118,325 28,416 (480)146,261 Income before income taxes$152,101 $9,137 $(13,162)$148,076 For the Three Months Ended March 31, 2024(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$258,435 $7,133 $(3,962)$261,606 Provision for credit losses6,000 — — 6,000 Non-interest income11,908 32,746 (11,491)33,163 Non-interest expense104,959 32,488 (4,219)133,228 Income before income taxes$159,384 $7,391 $(11,234)$155,541 For the Nine Months Ended March 31, 2025(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$837,472 $21,216 $(11,077)$847,611 Provision for credit losses40,748 — — 40,748 Non-interest income24,204 89,517 (23,940)89,781 Non-interest expense351,176 84,685 3,185 439,046 Income before income taxes$469,752 $26,048 $(38,202)$457,598 For the Nine Months Ended March 31, 2024(Dollars in thousands)Banking Business SegmentSecurities Business SegmentCorporate/EliminationsAxos ConsolidatedNet interest income$694,289 $