Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 74

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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ATIONS

Comparison of the Three and Six Months Ended December 31, 2024 and 2023

For the three months ended December 31, 2024, we had net income of $104.7 million, or $1.80 per diluted share, compared to net income of $151.8 million, or $2.62 per diluted share, for the three months ended December 31, 2023. For the six months ended December 31, 2024, we had net income of $217.0 million, or $3.72 per diluted share, compared to net income of $234.4 million, or $3.98 per diluted share, for the six months ended December 31, 2023.

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

The following table presents information regarding (i) average balances; (ii) the total amount of interest income from interest-earning assets and the weighted average yields on such assets; (iii) the total amount of interest expense on interest-bearing liabilities and the weighted average rates paid on such liabilities; (iv) net interest income; (v) interest rate spread; and (vi) net interest margin: 

For the Three Months Ended,December 31, 2024December 31, 2023(Dollars in thousands)AverageBalance1InterestIncome/ExpenseAverage YieldsEarned/RatesPaid2AverageBalance1InterestIncome/ExpenseAverage YieldsEarned/RatesPaid2Assets:Loans3, 4$19,643,375 $410,868 8.37 %$17,499,840 $357,852 8.18 %Non-purchased loans18,681,035 377,376 8.08 %17,241,605 345,905 8.02 %Purchased loans5962,340 33,492 13.92 %258,235 11,947 18.51 %Interest-earning deposits in other financial institutions3,063,487 36,649 4.79 %2,023,446 27,737 5.48 %Mortgage-backed and other securities4125,692 1,567 4.99 %238,470 3,200 5.37 %Securities borrowed and margin lending6335,965 6,450 7.68