Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 145

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 145
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 losses consists of provisions for both funded loans and for unfunded lending commitments. The provision for credit losses for funded loans was $13.8 million and $37.0 million for the three and nine months ended March 31, 2025, respectively, and was primarily driven by the commercial & industrial - non-RE portfolio, reflecting loan growth, as well as the quantitative impact of macroeconomic variables in the allowance for credit losses model, including the 5-year and 10-year U.S. Treasury rates. The provision was also impacted by increases in specific reserves and certain qualitative adjustments. The provision for credit losses for unfunded lending commitments of $0.8 million and $3.8 million for the three and nine months ended March 31, 2025, respectively, was primarily driven by unfunded lending commitment growth, primarily in the commercial real estate and commercial & industrial - non-RE portfolios. Provisions for credit losses are charged to income to bring the allowance for credit losses for loans and unfunded lending commitments to a level deemed appropriate by management based on the factors discussed under the heading “Financial Condition—Asset Quality and Allowance for Credit Losses - Loans.”

Non-Interest Income

The following table sets forth information regarding our non-interest income: 

For the Three Months EndedFor the Nine Months EndedMarch 31, March 31, (Dollars in thousands)20252024Inc (Dec)20252024Inc (Dec)Broker-dealer fee income$12,121 $12,087 $34 $34,220 $37,083 $(2,863)Advisory fee income8,120 8,105 15 24,047 23,686 361 Banking and service fees10,254 8,876 1,378 28,680 27,287 1,393 Mortgage banking and servicing rights income1,499 2,180 (681)152 6,811 (6,659)Prepayment penalty fee income1,379 1,915 (536)2,682 4,535 (1,853)Gain on acquisition— — — — 92,397 (92,397)Total non-interest income$33,373 $33,163 $210 $89,781 $191,799 $(102,018)

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For the three months ended March 31, 2025, non