Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 86

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 86
---
.3%, respectively, compared to the prior year period. The decreases were primarily driven by lower broker-dealer fee income as a result of lower cash sorting balances in the current year periods.

For the three months ended December 31, 2024, non-interest expense increased $0.2 million or 0.8%, and for the six months ended December 31, 2024, non-interest expense increased $0.8 million, or 1.4%, respectively, compared to the prior year period.

43

The following table provides selected information for Axos Clearing:

(Dollars in thousands)December 31, 2024June 30, 2024FDIC insured deposit program balances at banks$1,359,139 $1,289,105 Margin balances$274,486 $219,848 Cash reserves for the benefit of customers$126,821 $113,676 Securities lending:Interest-earning assets – securities borrowed$114,672 $67,212 Interest-bearing liabilities – securities loaned$135,258 $74,177 

FINANCIAL CONDITION

Balance Sheet Analysis

Our total assets increased $0.9 billion, or 3.7%, to $23.7 billion at December 31, 2024, from $22.9 billion at June 30, 2024, primarily attributable to an increase in cash and cash equivalents and loans. Our total liabilities increased $0.6 billion, or 3.0%, to $21.2 billion at December 31, 2024 from $20.6 billion at June 30, 2024, primarily attributable to higher deposit balances.

Loans and Allowance for Credit Losses - Loans

The following table sets forth the composition of the loan portfolio:

December 31, 2024June 30, 2024(Dollars in thousands)AmountPercentAmountPercentSingle Family - Mortgage & Warehouse$4,149,778 20.7 %$4,178,832 21.1 %Multifamily and Commercial Mortgage13,430,948 17.1 %3,861,931 19.5 %Commercial Real Estate16,214,834 31.1 %6,088,622 30.7 %Commercial & Industrial - Non-RE5,809,877 29.0 %5,241,766 26.5 %Auto & Consumer