Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 43

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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,061 $251,749 For the Six Months Ended December 31, 2024(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotalBalance at July 1, 2024$16,943 $70,771 $87,780 $76,032 $9,016 $260,542 Provision (benefit) for credit losses - loans(891)(8,140)14,674 11,585 6,020 23,248 Charge-offs— (6,554)— (3,162)(5,344)(15,060)Recoveries52 — — — 1,823 1,875 Balance at December 31, 2024$16,104 $56,077 $102,454 $84,455 $11,515 $270,605 For the Six Months Ended December 31, 2023(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotalBalance at July 1, 2023$17,503 $16,848 $72,755 $46,347 $13,227 $166,680 Allowance for credit losses at acquisition of PCD loans— 58,972 11,125 — — 70,097 Provision (benefit) for credit losses - loans(2,090)2,533 (6,102)22,940 969 18,250 Charge-offs(80)— — (86)(4,602)(4,768)Recoveries23 — — — 1,467 1,490 Balance at December 31, 2023$15,356 $78,353 $77,778 $69,201 $11,061 $251,749 For the three and six months ended December 31, 2024, the allowance for credit losses for loans increased as a result of the provision for credit losses, partially offset by net charge-offs. The provision for credit losses was primarily due to the quantitative impact of macroeconomic variables in the allowance for credit losses model, primarily the U.S. unemployment rate and commercial real estate mortgage rates, as well