Company: AX
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001299709-25-000087
Chunk: 90

Company: Axos Financial, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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, 2024, interest-bearing demand and savings increased $886.5 million and non-interest-bearing deposits decreased by $6.0 million, while time deposits decreased $103.0 million.

The following table sets forth the composition of the deposit portfolio:

March 31, 2025June 30, 2024(Dollars in thousands)AmountAmountNon-interest-bearing$2,969,634 $2,975,631 Interest-bearing demand and savings$16,331,993 $15,445,490 Time deposits835,087 938,096 Total interest bearing$17,167,080 $16,383,586 Total deposits1$20,136,714 $19,359,217 

1 Total deposits includes brokered deposits of $1,799.8 million and $1,611.6 million as of March 31, 2025 and June 30, 2024, respectively, which include brokered time deposits of $400.1 million and $400.0 million as of March 31, 2025 and June 30, 2024, respectively.

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The following table sets forth the number of deposit accounts by type:

March 31, 2025June 30, 2024March 31, 2024Non-interest-bearing49,687 55,772 51,010 Interest-bearing checking and savings accounts533,788 495,070479,046 Time deposits3,160 4,6965,214 Total number of deposit accounts586,635 555,538535,270

Total deposits that exceeded the FDIC insurance limit or were not collateralized at March 31, 2025 and June 30, 2024 were $2.5 billion and $2.1 billion, respectively. The maturities of non-collateralized time deposits that exceeded the FDIC insurance limit were as follows:

(Dollars in thousands)March 31, 20253 months or less$5,612 3 months to 6 months6,463 6 months to 12 months6,644 Over 12 months1,736 Total$20,455 

Borrowings

The following table sets forth the composition of our borrowings and the interest rates:

March 31, 2025June 30, 2024March 31, 2024(Dollars in thousands)BalanceWeighted Average RateBalanceWeight