Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 153

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 153
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 Note 4—“Loans & Allowance for Credit Losses” in the accompanying interim condensed consolidated financial statements. Non-performing assets include nonaccrual loans plus other real estate owned and repossessed vehicles.

Non-performing assets consisted of the following:

(Dollars in thousands)March 31, 2025June 30, 2024Increase (Decrease)Non-performing assets:Nonaccrual loans:Single Family - Mortgage & Warehouse$43,547 $45,711 $(2,164)Multifamily and Commercial Mortgage33,872 35,054 (1,182)Commercial Real Estate34,135 26,102 8,033 Commercial & Industrial - Non-RE71,154 4,020 67,134 Auto & Consumer2,352 2,472 (120)Total nonaccrual loans$185,060 $113,359 $71,701 Foreclosed real estate2,999 1,840 1,159 Repossessed vehicles—Autos800 610 190 Total non-performing assets$188,859 $115,809 $73,050 Total nonaccrual loans as a percentage of total loans0.89 %0.57 %0.32 %Total non-performing assets as a percentage of total assets0.79 %0.51 %0.28 %

Our non-performing assets increased to $188.9 million at March 31, 2025 from $115.8 million at June 30, 2024, primarily as a result of an increase in non-accrual loans of $71.7 million, mainly in the commercial & industrial - non-RE portfolio, and an increase in other real estate owned and repossessed vehicles of $1.3 million. Non-performing assets as a percentage of total assets increased to 0.79% at March 31, 2025 from 0.51% at June 30, 2024.

Available-for-Sale Securities

Total available-for-sale securities were $80.0 million as of March 31, 2025, compared with $141.6 million at June 30, 2024. During the nine months ended March 31, 2025, we purchased $22.4 million of securities and received principal repayments of $85.8 million. The remainder of the change for