Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 127

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 the next 12 months. The maximum length of time over which forecasted transactions are hedged is approximately 2.7 years.Derivatives not designated as hedging instrumentsThe following table presents the pre-tax gains/(losses) related to the Company’s derivative instrument activity recognized in the Condensed Consolidated Statements of Income:For the Three Months Ended December 31, For the Six Months Ended December 31, (Dollars in thousands)2024202320242023Banking and service fees$(185)$50 $(1,557)$390 Mortgage banking and servicing rights income(134)231 (385)508 

6.    OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS

The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements” in the 2024 Form 10-K.The following tables present information about the offsetting of these instruments and related collateral amounts:December 31, 2024(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet AmountAmounts Not Offset2Net Assets / LiabilitiesAssets:Securities borrowed$114,672 $— $114,672 $114,672 $— Other Assets — Derivative Assets116,363 — 16,363 15,221 1,142 Liabilities:Securities loaned$135,258 $— $135,258 $135,258 $— Accounts Payable and Other Liabilities — Derivative Liabilities83,957 — 83,957 1,147 82,810 

24

June 30, 2024(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet AmountAmounts Not Offset2Net Assets / LiabilitiesAssets:Securities borrowed$67,212 $— $67,212 $67,212 $— Other Assets — Derivative Assets106,796 — 106,796 18,524 88,272 Liabilities:Securities loaned$