Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 134

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 value is calculated using common stockholders’ equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share, a non-GAAP financial measure, is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company’s capital strength, financial condition, and ability to manage potential losses.

Below is a reconciliation of total stockholders’ equity, the nearest comparable GAAP measure, to tangible book value (Non-GAAP):

(Dollars in thousands, except per share data)December 31, 2024June 30,2024December 31, 2023Common stockholders’ equity$2,521,962 $2,290,596 $2,078,224 Less: servicing rights, carried at fair value28,045 28,924 28,043 Less: goodwill and other intangible assets—net137,570 141,769 146,793 Tangible common stockholders’ equity (Non-GAAP)$2,356,347 $2,119,903 $1,903,388 Common shares outstanding at end of period57,097,632 56,894,565 56,898,377 Book value per common share44.17 40.26 36.53 Less: servicing rights, carried at fair value per common share0.49 0.51 0.49 Less: goodwill and other intangible assets—net per common share2.41 2.49 2.59 Tangible book value per common share (Non-GAAP)$41.27 $37.26 $33.45 

34

SELECTED FINANCIAL INFORMATION

(Dollars in thousands, except per share data)December 31, 2024June 30, 2024December 31, 2023Selected Balance Sheet Data:Total assets$23,709,422$22,855,334$21,623,764Loans—net of allowance for credit losses19,486,72719,231,38518,264,354Loans held for sale, carried at fair value25,43616,48213,468Allowance for credit losses270,605260,542251,749Trading securities241353329Available-for-sale securities97,848141,611239,812Securities borrowed114,67267,212145,176