Company: AX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001299709-25-000184
Chunk: 134

Company: Axos Financial, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 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 EndedSeptember 30, (Dollars in thousands)20252024Inc (Dec)Broker-dealer fee income$10,948 $11,060 $(112)Advisory fee income8,525 7,945 580 Banking and service fees10,820 8,613 2,207 Mortgage banking and servicing rights income1,395 450 945 Prepayment penalty fee income652 541 111 Total non-interest income$32,340 $28,609 $3,731 

For the three months ended September 30, 2025, non-interest income increased by $3.7 million, or 13.0%, primarily due to an increase in banking and servicing fee income, primarily driven by higher income on BOLI policies, as well as a $0.9 million increase in mortgage banking and servicing rights income, primarily attributable to more favorable servicing rights fair value adjustments in the current period.

Non-Interest Expense

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

For the Three Months EndedSeptember 30, (Dollars in thousands)20252024Inc (Dec)Salaries and related costs$76,605 $74,293 $2,312 Data and operational processing22,057 18,985 3,072 Depreciation and amortization8,341 7,450 891 Advertising and promotional12,207 14,253 (2,046)Professional services13,333 9,895 3,438 Occupancy and equipment4,620 4,318 302 FDIC and regulatory fees5,619 5,956 (337)Broker-dealer clearing charges4,203 4,307 (104)General and administrative expense9,261 8,008 1,253 Total non-interest expense$156,246 $147,465 $8,781 

For the three months ended September 30, 2025, non-interest expense increased $8.8 million, or 6.0%, primarily due to increases of:

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