# EDGAR Filing Document

**Accession Number:** 0001299709
**File Stem:** 0001299709-25-000110
**Filing Date:** 2025-7
**Character Count:** 70304
**Document Hash:** 121e922e8c904c5856035ea13df41f81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001299709-25-000110.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001299709-25-000110

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20250730

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Axos Financial, Inc.
- **CENTRAL INDEX KEY:** 0001299709
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 330867444
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37709
- **FILM NUMBER:** 251167922

**BUSINESS ADDRESS:**
- **STREET 1:** 9205 WEST RUSSELL ROAD
- **STREET 2:** SUITE #400
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89148
- **BUSINESS PHONE:** (858) 649-2218

**MAIL ADDRESS:**
- **STREET 1:** 9205 WEST RUSSELL ROAD
- **STREET 2:** SUITE #400
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89148

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BofI Holding, Inc.
- **DATE OF NAME CHANGE:** 20040805

?xml version='1.0' encoding='ASCII'? ax-20250730

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** July 30, 2025

![axosfina26.jpg](ax-20250730_g1.jpg)

**Axos Financial, Inc.** 

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-37709** | **33-0867444** |
| (State or other jurisdiction of<br>incorporation) | (Commission File Number) | (IRS Employer Identification<br>Number) |

---

**9205 West Russell Road, Ste 400**

 **Las Vegas, NV 89148** 

(Address of principal executive offices and zip code**)**

Registrant's telephone number, including area code: **(858) 649-2218&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

---

| | | |
|:---|:---|:---|
| **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** |
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| **Common stock, $0.01 par value** | **AX** | **New York Stock Exchange** |

---

**Not Applicable**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02 &nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition**

On July 30, 2025, Axos Financial, Inc. (the "Registrant" or the "Company") issued a press release announcing its fiscal fourth quarter results of operations for the period ended June 30, 2025. The press release, related financial schedules and earnings supplement presentation are furnished as Exhibits 99.1 through 99.4. The Registrant is furnishing the related quarterly earnings supplement in two different formats as Exhibits 99.3 and 99.4.

Pursuant to General Instruction B.2. of Form 8-K, the information in this Item 2.02 of Form 8-K, including Exhibit 99.1, 99.2, 99.3, and 99.4 is being furnished pursuant to Item 2.02 and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise be subject to the liabilities of that section, nor is it incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

**Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;Other Events.**

The Company hereby incorporates into this Item 8.01 of Form 8-K the information included in its press release dated July 30, 2025, attached hereto as Exhibit 99.1, except for the officer quotations under the sub-heading "Fourth Quarter Fiscal 2025 Financial Summary," and the information included under the sub-heading "Conference Call," each in its entirety.

**Item 9.01 &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | <u>[Press Release](pressrelease20250630axearn.htm)</u> |
| 99.2 | <u>[Financial Schedules](pressrelease-financialsche.htm)</u> |
| 99.3 | <u>[Press Release Earnings Supplement](junesupplement.htm)</u> |
| 99.4 | <u>[Press Release Earnings Supplement PDF](junesupplement.pdf)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | Axos Financial, Inc. | Axos Financial, Inc. |
| Date: | July 30, 2025 | By: | /s/ Derrick K. Walsh |
|  |  |  | Derrick K. Walsh |
|  |  |  | EVP and Chief Financial Officer |

---

## Exhibit 99.1

![axosfina13a.jpg](axosfina13a.jpg)

**Axos Financial, Inc. Reports Fiscal Year 2025 Results**

*Axos Achieves Net Loan Growth of $856 million in the June Quarter*

LAS VEGAS, NV – (BUSINESS WIRE) – July 30, 2025 – Axos Financial, Inc. (NYSE: AX) ("Axos" or the "Company") today announced unaudited financial results for the fourth fiscal quarter ended June 30, 2025. Net income was $110.7 million and diluted earnings per share ("EPS") was $1.92 for the quarter ended June 30, 2025. Net income for the quarter ended June 30, 2024 was $104.9 million and diluted EPS was $1.80. Adjusted earnings and adjusted earnings per diluted common share ("Adjusted EPS"), non-GAAP measures described further below, increased $5.1 million to $111.8 million and increased $0.11 to $1.94, respectively, for the quarter ended June 30, 2025, compared to $106.7 million and $1.83, respectively, for the quarter ended June 30, 2024.

**Fourth Quarter Fiscal 2025 Financial Summary**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | |
|<br>***(Dollars in thousands, except per share data)*** | **2025** | **2024** | **% Change** |
| Net interest income | $280161 | $260062 | 7.7% |
| Non-interest income | $41285 | $30861 | 33.8% |
| Net income | $110675 | $104872 | 5.5% |
| Adjusted earnings (Non-GAAP)<sup>1</sup> | $111814 | $106727 | 4.8% |
| Diluted EPS | $1.92 | $1.80 | 6.7% |
| Adjusted EPS (Non-GAAP)<sup>1</sup> | $1.94 | $1.83 | 6.0% |
| <sup>1</sup> See "Use of Non-GAAP Financial Measures" |  |  |  |

---

For the year ended June 30, 2025, net income was $432.9 million, a decrease of $17.1 million from net income of $450.0 million for the year ended June 30, 2024. Diluted EPS was $7.43 for the year ended June 30, 2025, a decrease of $0.23, or 3.0%, as compared to diluted EPS of $7.66 for the year ended June 30, 2024. The year ended June 30, 2024, included a one-time pre-tax gain of approximately $92.4 million, or $1.11 per diluted common share, related to the FDIC Loan Purchase. For the year ended June 30, 2025, adjusted earnings (a non-GAAP financial measure) increased $41.3 million or 10.4%, and Adjusted EPS (a non-GAAP financial measure) increased $0.76 per share or 11.3%.

"We grew loans by $856 million in the quarter ended June 30, 2025," stated Greg Garrabrants, President and Chief Executive Officer of Axos. "We generated positive loan growth across several consumer and commercial lending categories, including asset-based lending, auto lending, equipment leasing, lender finance, and single-family mortgage. Our net interest margin remained strong at 4.84% for the three months ended June 30, 2025 compared to 4.78% in the prior quarter."

"Net interest income and non-interest income increased by $4.7 million and $7.9 million, respectively, on a linked quarter basis," said Derrick Walsh, Chief Financial Officer of Axos. "Our tax rate was approximately 29% for the quarter ended June 30, 2025, which includes the one-time non-cash deferred tax asset adjustment related to the change in California tax calculation methodology. Starting in the period ending September 30, 2025, we currently expect our effective tax rate to be reduced by three percentage points due to the change in California tax calculation methodology."

**Other Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ending net loan balances were $21.0 billion at June 30, 2025, up 4% or 16% annualized from $20.2 billion at March 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-performing assets to total assets were 0.71% for the quarter ended June 30, 2025, down from 0.79% for the quarter ended March 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin was 4.84% for the quarter ended June 30, 2025, compared to 4.78% for the quarter ended March 31, 2025

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-interest income was $41.3 million for the three months ended June 30, 2025, up 23.7% from $33.4 million for the quarter ended March 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total deposits were $20.8 billion at June 30, 2025, an increase of $1.5 billion, or 7.6%, from $19.4 billion at June 30, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Added $214.7 million of net new assets under custody during the three months ended June 30, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total capital to risk-weighted assets was 15.39% for the Company at June 30, 2025, up from 14.84% at June 30, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Book value per share increased to $47.46 at June 30, 2025, up 17.9% from $40.26 at June 30, 2024

**Fourth Quarter Fiscal 2025 Income Statement Summary**

Net income was $110.7 million and diluted EPS was $1.92 for the three months ended June 30, 2025, compared to net income of $104.9 million and diluted EPS of $1.80 for the three months ended June 30, 2024. Net interest income increased $20.1 million or 7.7% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to lower rates paid on deposit balances.

The provision for credit losses was $15.0 million for the three months ended June 30, 2025, compared to $6.0 million for the three months ended June 30, 2024. The provision for credit losses for the three months ended June 30, 2025, was primarily driven by loan growth, as well as the quantitative impact of macroeconomic variables in the commercial real estate allowance for credit losses model.

Non-interest income increased to $41.3 million for the three months ended June 30, 2025, compared to $30.9 million for the three months ended June 30, 2024. The increase was primarily due to higher mortgage banking income, reflecting a $12.0 million gain recognized on a loan sale in the current quarter.

Non-interest expense, comprised of various operating expenses, increased $10.1 million to $150.7 million for the three months ended June 30, 2025 from $140.5 million for the three months ended June 30, 2024. The increase was primarily due to higher salaries and related costs and higher data and operational processing expense.

**Balance Sheet Summary**

Axos' total assets increased by $1.9 billion, or 8.4%, to $24.8 billion, at June 30, 2025, from $22.9 billion at June 30, 2024, primarily attributable to an increase in loans. Total liabilities increased by $1.5 billion, or 7.5%, to $22.1 billion at June 30, 2025, from $20.6 billion at June 30, 2024, primarily attributable to higher deposit balances. Stockholders' equity increased $390.1 million, or 17.0%, to $2.7 billion at June 30, 2025 from $2.3 billion at June 30, 2024, primarily due to net income of $432.9 million.

**Conference Call**

A conference call and webcast will be held on Wednesday, July 30, 2025, at 5:00 PM Eastern / 2:00 PM Pacific. Analysts and investors may dial in and participate in the question/answer session. To access the call, please dial: 877-407-8293. The conference call will be webcast live, and both the webcast and the earnings supplement may be accessed at Axos' website, investors.axosfinancial.com. For those unable to listen to the live broadcast, a replay will be available until August 30, 2025, at Axos' website and telephonically by dialing toll-free number 877-660-6853, passcode 13754509.

**About Axos Financial, Inc. and Subsidiaries**

Axos Financial, Inc., with approximately $24.8 billion in consolidated assets as of June 30, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $39.4 billion of assets under custody and/or administration as of June 30, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index, among other indices. For more information on Axos Financial, Inc., please visit http://investors.axosfinancial.com.

------

**Segment Reporting**

The Company operates through two segments: the Banking Business Segment and the Securities Business Segment. In order to reconcile the two segments to the consolidated totals, the Company includes corporate activities and intercompany eliminations. Inter-segment transactions are eliminated in consolidation and primarily include non-interest income earned by the Securities Business Segment and non-interest expense incurred by the Banking Business Segment for cash sorting fees related to deposits sourced from Securities Business Segment customers.

The following tables present the operating results of the segments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the Three Months Ended June 30, 2025** | **For the Three Months Ended June 30, 2025** | **For the Three Months Ended June 30, 2025** | **For the Three Months Ended June 30, 2025** |
|<br>***(Dollars in thousands)*** | **Banking <br>Business Segment** | **Securities Business Segment** | **Corporate/Eliminations** | **Axos Consolidated** |
| Net interest income | $276701 | $7215 | $(3755) | $280161 |
| Provision for credit losses | 14997 |  |  | 14997 |
| Non-interest income | 22226 | 29621 | (10562) | 41285 |
| Non-interest expense | 122369 | 29942 | (1659) | 150652 |
| Income before income taxes | $161561 | $6894 | $(12658) | $155797 |
|  | **For the Three Months Ended June 30, 2024** | **For the Three Months Ended June 30, 2024** | **For the Three Months Ended June 30, 2024** | **For the Three Months Ended June 30, 2024** |
| ***(Dollars in thousands)*** | **Banking <br>Business Segment** | **Securities Business Segment** | **Corporate/Eliminations** | **Axos Consolidated** |
| Net interest income | $256543 | $7452 | $(3933) | $260062 |
| Provision for credit losses | 6000 |  |  | 6000 |
| Non-interest income | 10827 | 29079 | (9045) | 30861 |
| Non-interest expense | 110668 | 27111 | 2756 | 140535 |
| Income before income taxes | $150702 | $9420 | $(15734) | $144388 |
|  | **For the Year Ended June 30, 2025** | **For the Year Ended June 30, 2025** | **For the Year Ended June 30, 2025** | **For the Year Ended June 30, 2025** |
| ***(Dollars in thousands)*** | **Banking <br>Business Segment** | **Securities Business Segment** | **Corporate/Eliminations** | **Axos Consolidated** |
| Net interest income | $1114173 | $28431 | $(14832) | $1127772 |
| Provision for credit losses | 55745 |  |  | 55745 |
| Non-interest income | 46430 | 119138 | (34502) | 131066 |
| Non-interest expense | 473545 | 114627 | 1526 | 589698 |
| Income before income taxes | $631313 | $32942 | $(50860) | $613395 |
|  | **For the Year Ended June 30, 2024** | **For the Year Ended June 30, 2024** | **For the Year Ended June 30, 2024** | **For the Year Ended June 30, 2024** |
| ***(Dollars in thousands)*** | **Banking <br>Business Segment** | **Securities Business Segment** | **Corporate/Eliminations** | **Axos Consolidated** |
| Net interest income | $950832 | $26207 | $(15610) | $961429 |
| Provision for credit losses | 32500 |  |  | 32500 |
| Non-interest income | 139071 | 129020 | (45431) | 222660 |
| Non-interest expense | 418695 | 115091 | (17678) | 516108 |
| Income before income taxes | $638708 | $40136 | $(43363) | $635481 |

---

------

**Use of Non-GAAP Financial Measures**

In addition to the results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), this release includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this release enhance investors' understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures.

We define "adjusted earnings", a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related items (including amortization of intangible assets related to acquisitions) and other costs (unusual or non-recurring charges). Adjusted EPS, a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and Adjusted EPS provide useful information about Axos' operating performance. We believe excluding the non-recurring acquisition-related costs and other costs provides investors with an alternative understanding of Axos' core business.

Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (Non-GAAP) for the periods shown:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the Three Months Ended June 30,**  | **For the Three Months Ended June 30,**  | **For the Year Ended June 30,**  | **For the Year Ended June 30,**  |
|<br>***(Dollars in thousands, except per share data)*** | **2025** | **2024** | **2025** | **2024** |
| Net income | $110675 | $104872 | $432908 | $450008 |
| &nbsp;&nbsp;&nbsp;FDIC Loan Purchase - Gain on purchase |  |  |  | (92397) |
| &nbsp;&nbsp;&nbsp;FDIC Loan Purchase - Provision for credit losses |  |  |  | 4648 |
| &nbsp;&nbsp;&nbsp;Acquisition-related costs  | 1604 | 2554 | 7408 | 10843 |
| &nbsp;&nbsp;&nbsp;Other costs<sup>1</sup> |  |  | (1878) |  |
| &nbsp;&nbsp;&nbsp;Income tax effect | (465) | (699) | (1627) | 22446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted earnings (Non-GAAP) | $111814 | $106727 | $436811 | $395548 |
| Average dilutive common shares outstanding | 57558280 | 58164623 | 58241421 | 58725636 |
| Diluted EPS | $1.92 | $1.80 | $7.43 | $7.66 |
| &nbsp;&nbsp;&nbsp;FDIC Loan Purchase - Gain on purchase |  |  |  | (1.57) |
| &nbsp;&nbsp;&nbsp;FDIC Loan Purchase - Provision for credit losses |  |  |  | 0.08 |
| &nbsp;&nbsp;&nbsp;Acquisition-related costs | 0.03 | 0.04 | 0.13 | 0.18 |
| &nbsp;&nbsp;&nbsp;Other costs<sup>1</sup> |  |  | (0.03) |  |
| &nbsp;&nbsp;&nbsp;Income tax effect | (0.01) | (0.01) | (0.03) | 0.39 |
| &nbsp;&nbsp;&nbsp; Adjusted EPS (Non-GAAP) | $1.94 | $1.83 | $7.50 | $6.74 |

---

<sup>1</sup> *Other costs primarily reflects the payment of a legal judgment at an amount less than previously accrued.*

We define "tangible book value", a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders' equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company's capital strength, financial condition, and ability to manage potential losses.

Below is a reconciliation of total stockholders' equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
| ***(Dollars in thousands, except per share amounts)*** | **June 30, <br>2025** | **June 30, <br>2024** | **June 30, <br>2023** |
| Common stockholders' equity | $2680677 | $2290596 | $1917159 |
| &nbsp;&nbsp;&nbsp;Less: servicing rights, carried at fair value | 27218 | 28924 | 25443 |
| &nbsp;&nbsp;&nbsp;Less: goodwill and other intangible assets—net | 134502 | 141769 | 152149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible common stockholders' equity (Non-GAAP) | $2518957 | $2119903 | $1739567 |
| Common shares outstanding at end of period | 56483617 | 56894565 | 58943035 |
| Book value per common share | $47.46 | 40.26 | $32.53 |
| &nbsp;&nbsp;&nbsp;Less: servicing rights, carried at fair value per common share | 0.48 | 0.51 | 0.44 |
| &nbsp;&nbsp;&nbsp;Less: goodwill and other intangible assets—net per common share | 2.38 | 2.49 | 2.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible book value per common share (Non-GAAP) | $44.60 | $37.26 | $29.51 |

---

------

**Forward-Looking Safe Harbor Statement**

*This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos' financial prospects and other projections of its performance and asset quality, Axos' deposit balances and capital ratios, Axos' ability to continue to grow profitably and increase its business, Axos' ability to continue to diversify its lending and deposit franchises, the anticipated timing and financial performance of other offerings, initiatives, and acquisitions, expectations of the environment in which Axos operates and projections of future performance. These forward-looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this press release. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation Axos' ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions, changes in the interest rate environment, monetary policy, inflation, tariffs, government regulation, general economic conditions, changes in the competitive marketplace, conditions in the real estate markets in which we operate, risks associated with credit quality, our ability to attract and retain deposits and access other sources of liquidity, and the outcome and effects of litigation and other factors beyond our control. These and other risks and uncertainties detailed in Axos' periodic reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Axos undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All written and oral forward-looking statements made in connection with this press release, which are attributable to us or persons acting on Axos' behalf are expressly qualified in their entirety by the foregoing information.*

Investor Relations Contact:

Johnny Lai, CFA

SVP, Corporate Development & Investor Relations

858-649-2218

jlai@axosfinancial.com

------

**AXOS FINANCIAL, INC.**

**SELECTED CONSOLIDATED FINANCIAL INFORMATION**

***(Unaudited – dollars in thousands)***

---

| | | | |
|:---|:---|:---|:---|
| | **June 30, <br>2025** | **June 30, <br>2024** | **June 30, <br>2023** |
| ***Selected Balance Sheet Data:*** | | | |
| Total assets | $24783078 | $22855334 | $20348469 |
| Loans—net of allowance for credit losses | 21049610 | 19231385 | 16456728 |
| Loans held for sale, carried at fair value | 10012 | 16482 | 23203 |
| Allowance for credit losses | 290049 | 260542 | 166680 |
| Trading securities | 649 | 353 | 758 |
| Available-for-sale securities | 66008 | 141611 | 232350 |
| Securities borrowed | 139396 | 67212 | 134339 |
| Customer, broker-dealer and clearing receivables | 252720 | 240028 | 374074 |
| Total deposits | 20829543 | 19359217 | 17123108 |
| Advances from the Federal Home Loan Bank | 60000 | 90000 | 90000 |
| Borrowings, subordinated notes and debentures | 312671 | 325679 | 361779 |
| Securities loaned | 139426 | 74177 | 159832 |
| Customer, broker-dealer and clearing payables | 350606 | 301127 | 445477 |
| Total stockholders' equity | $2680677 | $2290596 | $1917159 |
| Common shares outstanding at end of period | 56483617 | 56894565 | 58943035 |
| Common shares issued at end of period | 71101642 | 70221632 | 69465446 |
| ***Per Common Share Data:*** |  |  |  |
| Book value per common share | $47.46 | $40.26 | $32.53 |
| Tangible book value per common share (Non-GAAP)<sup>1</sup> | $44.60 | $37.26 | $29.51 |
| ***Capital Ratios:*** |  |  |  |
| Equity to assets at end of period | 10.82% | 10.02% | 9.42% |
| Axos Financial, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage (to adjusted average assets) | 10.72% | 9.43% | 8.96% |
| &nbsp;&nbsp;&nbsp;Common equity tier 1 capital (to risk-weighted assets) | 12.51% | 12.01% | 10.94% |
| &nbsp;&nbsp;&nbsp;Tier 1 capital (to risk-weighted assets) | 12.51% | 12.01% | 10.94% |
| &nbsp;&nbsp;&nbsp;Total capital (to risk-weighted assets) | 15.39% | 14.84% | 13.82% |
| Axos Bank: |  |  |  |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage (to adjusted average assets) | 10.24% | 9.74% | 9.68% |
| &nbsp;&nbsp;&nbsp;Common equity tier 1 capital (to risk-weighted assets) | 12.45% | 12.74% | 11.63% |
| &nbsp;&nbsp;&nbsp;Tier 1 capital (to risk-weighted assets) | 12.45% | 12.74% | 11.63% |
| &nbsp;&nbsp;&nbsp;Total capital (to risk-weighted assets) | 13.74% | 13.81% | 12.50% |
| Axos Clearing LLC: |  |  |  |
| &nbsp;&nbsp;&nbsp;Net capital | $86996 | $101462 | $35221 |
| &nbsp;&nbsp;&nbsp;Excess capital | $81834 | $96654 | $29905 |
| &nbsp;&nbsp;&nbsp;Net capital as a percentage of aggregate debit items | 33.71% | 42.21% | 13.25% |
| &nbsp;&nbsp;&nbsp;Net capital in excess of 5% aggregate debit items | $74091 | $89442 | $21930 |

---

------

**AXOS FINANCIAL, INC.**

**SELECTED CONSOLIDATED FINANCIAL INFORMATION**

***(Unaudited – dollars in thousands, except per share data)***

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of or for the**<br>**Three Months Ended** | **As of or for the**<br>**Three Months Ended** | **As of or for the** <br>**Year Ended** | **As of or for the** <br>**Year Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|<br>***(Dollars in thousands, except per share data)*** | **2025** | **2024** | **2025** | **2024** |
| ***Selected Income Statement Data:*** |  |  |  |  |
| Interest and dividend income | $442413 | $453428 | $1815465 | $1655607 |
| Interest expense | 162252 | 193366 | 687693 | 694178 |
| Net interest income | 280161 | 260062 | 1127772 | 961429 |
| Provision for credit losses | 14997 | 6000 | 55745 | 32500 |
| Net interest income, after provision for credit losses | 265164 | 254062 | 1072027 | 928929 |
| Non-interest income | 41285 | 30861 | 131066 | 222660 |
| Non-interest expense | 150652 | 140535 | 589698 | 516108 |
| Income before income taxes | 155797 | 144388 | 613395 | 635481 |
| Income tax expense | 45122 | 39516 | 180487 | 185473 |
| Net income | $110675 | $104872 | $432908 | $450008 |
| ***Weighted average number of common shares outstanding:*** |  |  |  |  |
| &nbsp;&nbsp;Basic | 56392620 | 56938405 | 56862630 | 57509029 |
| &nbsp;&nbsp;Diluted | 57558280 | 58164623 | 58241421 | 58725636 |
| ***Per Common Share Data:*** |  |  |  |  |
| Net income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $1.96 | $1.84 | $7.61 | $7.82 |
| &nbsp;&nbsp;&nbsp;Diluted | $1.92 | $1.80 | $7.43 | $7.66 |
| Adjusted earnings per common share (Non-GAAP)<sup>1</sup> | $1.94 | $1.83 | $7.50 | $6.74 |
| ***Performance Ratios and Other Data:*** |  |  |  |  |
| Growth in loans held for investment, net | $855980 | $497930 | $1818225 | $2774657 |
| Loan originations for sale | 42487 | 52574 | 199845 | 197305 |
| Return on average assets | 1.85% | 1.81% | 1.82% | 2.08% |
| Return on average common stockholders' equity | 16.85% | 18.81% | 17.30% | 21.64% |
| Interest rate spread<sup>2</sup> | 3.97% | 3.63% | 3.97% | 3.62% |
| Net interest margin<sup>3</sup> | 4.84% | 4.65% | 4.90% | 4.62% |
| Net interest margin<sup>3</sup> – Banking Business Segment | 4.88% | 4.68% | 4.95% | 4.68% |
| Efficiency ratio<sup>4</sup> | 46.87% | 48.31% | 46.84% | 43.59% |
| Efficiency ratio<sup>4</sup> – Banking Business Segment | 40.94% | 41.39% | 40.80% | 38.42% |
| ***Asset Quality Ratios:*** |  |  |  |  |
| Net annualized charge-offs to average loans | 0.16% | 0.05% | 0.13% | 0.05% |
| Non-accrual loans to total loans | 0.79% | 0.57% | 0.79% | 0.57% |
| Non-performing assets to total assets | 0.71% | 0.51% | 0.71% | 0.51% |
| Allowance for credit losses - loans to total loans held for investment | 1.36% | 1.34% | 1.36% | 1.34% |
| Allowance for credit losses - loans to non-accrual loans<sup>5</sup> | 170.23% | 229.84% | 170.23% | 229.84% |

---

<sup>1 &nbsp;&nbsp;&nbsp;&nbsp;</sup>*See "Use of Non-GAAP Financial Measures."*

<sup>2 &nbsp;&nbsp;&nbsp;&nbsp;</sup>*Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average* 

&nbsp;&nbsp;&nbsp;&nbsp;<sup>&nbsp;&nbsp;&nbsp;&nbsp;</sup>*rate paid on interest-bearing liabilities.*

<sup>3&nbsp;&nbsp;&nbsp;&nbsp;</sup>*Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.*

<sup>4&nbsp;&nbsp;&nbsp;&nbsp;</sup>*Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income.*

<sup>5</sup> *The decrease in the Allowance for credit losses - loans to nonaccrual loans is primarily attributable to the change in nonaccrual loans.*

## Exhibit 99.2

**AXOS FINANCIAL, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
| | **At June 30,** | **At June 30,** |
|<br>***(Dollars in thousands, except par value)*** | **2025** | **2024** |
| **ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1933845 | $1979979 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 242509 | 205797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cash, cash equivalents and restricted cash | 2176354 | 2185776 |
| &nbsp;&nbsp;Trading securities | 649 | 353 |
| &nbsp;&nbsp;Available-for-sale securities | 66008 | 141611 |
| &nbsp;&nbsp;&nbsp;Stock of regulatory agencies | 35163 | 21957 |
| &nbsp;&nbsp;&nbsp;Loans held for sale, carried at fair value | 10012 | 16482 |
| &nbsp;&nbsp;Loans—net of allowance for credit losses of $290,049 as of June 30, 2025 and $260,542 as of June 30, 2024 | 21049610 | 19231385 |
| &nbsp;&nbsp;&nbsp;Servicing rights, carried at fair value | 27218 | 28924 |
| &nbsp;&nbsp;&nbsp;Securities borrowed | 139396 | 67212 |
| &nbsp;&nbsp;&nbsp;Customer, broker-dealer and clearing receivables | 252720 | 240028 |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible assets—net | 134502 | 141769 |
| &nbsp;&nbsp;&nbsp;Other assets | 891446 | 779837 |
| TOTAL ASSETS | $24783078 | $22855334 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;Deposits: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest bearing | $3040696 | $2975631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest bearing | 17788847 | 16383586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 20829543 | 19359217 |
| &nbsp;&nbsp;&nbsp;Advances from the Federal Home Loan Bank | 60000 | 90000 |
| &nbsp;&nbsp;&nbsp;Borrowings, subordinated notes and debentures | 312671 | 325679 |
| &nbsp;&nbsp;&nbsp;Securities loaned | 139426 | 74177 |
| &nbsp;&nbsp;&nbsp;Customer, broker-dealer and clearing payables | 350606 | 301127 |
| &nbsp;&nbsp;&nbsp;Accounts payable and other liabilities | 410155 | 414538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 22102401 | 20564738 |
| COMMITMENTS AND CONTINGENCIES |  |  |
| STOCKHOLDERS' EQUITY: |  |  |
| &nbsp;&nbsp;Common stock—$0.01 par value; 150,000,000 shares authorized, 71,101,642 shares issued and 56,483,617 shares outstanding as of June 30, 2025; 70,221,632 shares issued and 56,894,565 shares outstanding as of June 30, 2024 | 711 | 702 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 548895 | 510232 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss)—net of income tax | 348 | (2466) |
| &nbsp;&nbsp;&nbsp;Retained earnings | 2618525 | 2185617 |
| &nbsp;&nbsp;Treasury stock, at cost; 14,618,025 shares as of June 30, 2025 and 13,327,067 shares as of June 30, 2024 | (487802) | (403489) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 2680677 | 2290596 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $24783078 | $22855334 |

---

------

**AXOS FINANCIAL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF INCOME**

***(Unaudited)*** 

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **June 30,** | **June 30,** |
|<br>***(Dollars in thousands, except earnings per common share)*** | **2025** | **2024** |
| INTEREST AND DIVIDEND INCOME: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans, including fees | $410910 | $409466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities borrowed and customer receivables | 6699 | 6244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments and other | 24804 | 37718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 442413 | 453428 |
| INTEREST EXPENSE: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 156931 | 187542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advances from the Federal Home Loan Bank | 310 | 1293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities loaned | 477 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 4534 | 4152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 162252 | 193366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 280161 | 260062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 14997 | 6000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income, after provision for credit losses | 265164 | 254062 |
| NON-INTEREST INCOME: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broker-dealer fee income | 11013 | 11053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advisory fee income | 7747 | 7649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banking and service fees | 9515 | 8436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking and servicing rights income | 12855 | 3189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepayment penalty fee income | 155 | 534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 41285 | 30861 |
| NON-INTEREST EXPENSE: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salaries and related costs | 74888 | 68760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data and operational processing | 20358 | 16717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 7691 | 7499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising and promotional | 11025 | 12346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | 10362 | 11672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 4536 | 4603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC and regulatory fees | 6990 | 6930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broker-dealer clearing charges | 4282 | 3841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 10520 | 8167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 150652 | 140535 |
| INCOME BEFORE INCOME TAXES | 155797 | 144388 |
| INCOME TAXES | 45122 | 39516 |
| NET INCOME | $110675 | $104872 |
| Basic earnings per common share | $1.96 | $1.84 |
| Diluted earnings per common share | $1.92 | $1.80 |

---

------

**AXOS FINANCIAL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF INCOME**

***(Unaudited)*** 

---

| | | | |
|:---|:---|:---|:---|
| | **Year Ended June 30,**  | **Year Ended June 30,**  | **Year Ended June 30,**  |
|<br>***(Dollars in thousands, except earnings per common share)*** | **2025** | **2024** | **2023** |
| INTEREST AND DIVIDEND INCOME: |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans, including fees | $1654784 | $1499572 | $1048874 |
| &nbsp;&nbsp;&nbsp;Securities borrowed and customer receivables | 25492 | 22407 | 18657 |
| &nbsp;&nbsp;&nbsp;Investments and other | 135189 | 133628 | 89607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 1815465 | 1655607 | 1157138 |
| INTEREST EXPENSE: |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 667753 | 670570 | 339481 |
| &nbsp;&nbsp;&nbsp;Advances from the Federal Home Loan Bank | 1652 | 3087 | 12644 |
| &nbsp;&nbsp;&nbsp;Securities loaned | 1830 | 2214 | 3673 |
| &nbsp;&nbsp;&nbsp;Other borrowings | 16458 | 18307 | 18219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 687693 | 694178 | 374017 |
| &nbsp;&nbsp;Net interest income | 1127772 | 961429 | 783121 |
| &nbsp;&nbsp;Provision for credit losses | 55745 | 32500 | 24250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income, after provision for credit losses | 1072027 | 928929 | 758871 |
| NON-INTEREST INCOME: |  |  |  |
| &nbsp;&nbsp;&nbsp;Broker-dealer fee income | 45233 | 48136 | 46503 |
| &nbsp;&nbsp;&nbsp;Advisory fee income | 31794 | 31335 | 28324 |
| &nbsp;&nbsp;&nbsp;Banking and service fees | 38195 | 35723 | 32938 |
| &nbsp;&nbsp;&nbsp;Mortgage banking and servicing rights income | 13007 | 10000 | 7101 |
| &nbsp;&nbsp;&nbsp;Prepayment penalty fee income | 2837 | 5069 | 5622 |
| &nbsp;&nbsp;&nbsp;Gain on acquisition |  | 92397 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest income | 131066 | 222660 | 120488 |
| NON-INTEREST EXPENSE: |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and related costs | 297955 | 250873 | 204271 |
| &nbsp;&nbsp;&nbsp;Data and operational processing | 80433 | 69370 | 60557 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 29019 | 27086 | 23387 |
| &nbsp;&nbsp;&nbsp;Advertising and promotional | 47760 | 42797 | 37150 |
| &nbsp;&nbsp;&nbsp;Professional services | 37572 | 36532 | 29268 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | 17705 | 16704 | 15647 |
| &nbsp;&nbsp;&nbsp;FDIC and regulatory fees | 27558 | 20546 | 15534 |
| &nbsp;&nbsp;&nbsp;Broker-dealer clearing charges | 17065 | 18260 | 13433 |
| &nbsp;&nbsp;&nbsp;General and administrative expense | 34631 | 33940 | 48368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest expense | 589698 | 516108 | 447615 |
| INCOME BEFORE INCOME TAXES | 613395 | 635481 | 431744 |
| INCOME TAXES | 180487 | 185473 | 124579 |
| NET INCOME | $432908 | $450008 | $307165 |
| Basic earnings per common share | $7.61 | $7.82 | $5.15 |
| Diluted earnings per common share | $7.43 | $7.66 | $5.07 |

---

------

**LOANS & ALLOWANCE FOR CREDIT LOSSES**

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

---

| | | |
|:---|:---|:---|
| ***(Dollars in thousands)*** | **June 30, 2025** | **June 30, 2024** |
| Single Family - Mortgage & Warehouse | $4395278 | $4178832 |
| Multifamily and Commercial Mortgage | 2940739 | 3861931 |
| Commercial Real Estate | 6937187 | 6088622 |
| Commercial & Industrial - Non-RE | 6795497 | 5241766 |
| Auto & Consumer | 482996 | 431660 |
| &nbsp;&nbsp;&nbsp;Total gross loans | 21551697 | 19802811 |
| Allowance for credit losses - loans | (290049) | (260542) |
| Unaccreted premiums (discounts) and loan fees | (212038) | (310884) |
| &nbsp;&nbsp;&nbsp;Total net loans | $21049610 | $19231385 |

---

------

**AVAILABLE-FOR-SALE SECURITIES**

The amortized cost and fair value of available-for-sale securities were:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
|<br>***(Dollars in thousands)*** | **Amortized<br>Cost** | **Unrealized<br>Gains** | **Unrealized<br>Losses** | **Fair<br>Value** |
| Mortgage-backed securities (MBS): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agency<sup>1</sup> | $48229 | $327 | $(1799) | $46757 |
| &nbsp;&nbsp;&nbsp;Non-agency<sup>2</sup> | 14395 | 1232 | (58) | 15569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage-backed securities | 62624 | 1559 | (1857) | 62326 |
| Municipal | 3682 |  |  | 3682 |
| Total available-for-sale securities | $66306 | $1559 | $(1857) | $66008 |
|  | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| ***(Dollars in thousands)*** | **Amortized<br>Cost** | **Unrealized<br>Gains** | **Unrealized<br>Losses** | **Fair<br>Value** |
| Mortgage-backed securities (MBS): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agency<sup>1</sup> | $29835 | $83 | $(2659) | $27259 |
| &nbsp;&nbsp;&nbsp;Non-agency<sup>2</sup> | 110658 | 838 | (568) | 110928 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage-backed securities | 140493 | 921 | (3227) | 138187 |
| Municipal | 3788 |  | (364) | 3424 |
| Total available-for-sale securities | $144281 | $921 | $(3591) | $141611 |

---

<sup>1</sup> *Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.*

<sup>2</sup> *Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by prime, Alt-A or pay-option ARM mortgages.*

------

**DEPOSITS**

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

---

| | | |
|:---|:---|:---|
| ***(Dollars in thousands)*** | **June 30, 2025** | **June 30, 2024** |
| Non-interest bearing | $3040696 | $2975631 |
| Interest-bearing demand and savings | 16660290 | 15445490 |
| Time deposits | 1128557 | 938096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest bearing | 17788847 | 16383586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits<sup>1</sup> | $20829543 | $19359217 |

---

<sup>1</sup> *The total interest-bearing includes brokered deposits of $1,801.1 million and $1,611.6 million as of June 30, 2025 and June 30, 2024, respectively, which include brokered time deposits of $700.0 million and $400.0 million as of June 30, 2025 and June 30, 2024, respectively*.

The number of deposit accounts at the end of each of the last three fiscal years is set forth below:

---

| | | |
|:---|:---|:---|
| | **At June 30,** | **At June 30,** |
| | **2025** | **2024** |
| Non-interest bearing | 50967 | 55772 |
| Interest-bearing checking and savings accounts | 546678 | 495070 |
| Time deposits | 2956 | 4696 |
| &nbsp;&nbsp;&nbsp;Total number of deposit accounts | 600601 | 555538 |

---

------

**AVERAGE BALANCES, NET INTEREST INCOME, YIELDS EARNED AND RATES PAID**

**Average Balances, Net Interest Income, Yields Earned and Rates Paid**

The following table presents information regarding (i) average balances; (ii) the total amount of interest income from interest-earning assets and the weighted average yields on such assets; (iii) the total amount of interest expense on interest-bearing liabilities and the weighted average rates paid on such liabilities; (iv) net interest income; (v) interest rate spread; and (vi) net interest margin:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** | **For the Three Months Ended,** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
|<br>***(Dollars in thousands)*** | **Average**<br>**Balance**<sup>1</sup> | **Interest<br>Income/<br>Expense** | **Average Yields**<br>**Earned/Rates**<br>**Paid**<sup>2</sup> | **Average**<br>**Balance**<sup>1</sup> | **Interest<br>Income/<br>Expense** | **Average Yields**<br>**Earned/Rates**<br>**Paid**<sup>2</sup> |
| **Assets:** | | | | | | |
| Loans<sup>3, 4</sup> | $20539298 | $410910 | 8.00% | $19177807 | $409466 | 8.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-purchased loans | 19560321 | 374450 | 7.66% | 18196696 | 368766 | 8.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchased loans<sup>5</sup> | 978977 | 36460 | 14.90% | 981111 | 40700 | 16.59% |
| Interest-earning deposits in other financial institutions | 2149658 | 23652 | 4.40% | 2656167 | 35122 | 5.29% |
| Mortgage-backed and other securities<sup>4</sup> | 76214 | 642 | 3.37% | 183297 | 2202 | 4.81% |
| Securities borrowed and margin lending<sup>6</sup> | 344061 | 6699 | 7.79% | 329573 | 6244 | 7.58% |
| Stock of the regulatory agencies | 29599 | 510 | 6.89% | 17250 | 394 | 9.14% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 23138830 | 442413 | 7.65% | 22364094 | 453428 | 8.11% |
| Non-interest-earning assets | 813673 |  |  | 758002 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $23952503 |  |  | $23122096 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |
| Interest-bearing demand and savings | $16284806 | $148589 | 3.65% | $15697646 | $176930 | 4.51% |
| Time deposits | 845052 | 8342 | 3.95% | 971756 | 10612 | 4.37% |
| Securities loaned | 108963 | 477 | 1.75% | 121197 | 379 | 1.25% |
| Advances from the FHLB | 60001 | 310 | 2.07% | 144947 | 1293 | 3.57% |
| Borrowings, subordinated notes and debentures | 355690 | 4534 | 5.10% | 327602 | 4152 | 5.07% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 17654512 | 162252 | 3.68% | 17263148 | 193366 | 4.48% |
| Non-interest-bearing demand deposits | 2960476 |  |  | 2870716 |  |  |
| Other non-interest-bearing liabilities | 710207 |  |  | 757946 |  |  |
| Stockholders' equity | 2627308 |  |  | 2230286 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $23952503 |  |  | $23122096 |  |  |
| Net interest income |  | $280161 |  |  | $260062 |  |
| Interest rate spread<sup>7</sup> |  |  | 3.97% |  |  | 3.63% |
| Net interest margin<sup>8</sup> |  |  | 4.84% |  |  | 4.65% |

---

<sup>1</sup>*Average balances are obtained from daily data.*

<sup>2</sup>*Annualized.*

<sup>3</sup>*Loans include loans held for sale, loan premiums and unearned fees.*

<sup>4</sup>*Interest income includes reductions for amortization of loan and available-for-sale securities premiums and earnings from accretion of discounts and loan fees.*

<sup>5</sup>*Purchased loans include loans, loan discounts and unearned fees related to the FDIC Loan Purchase.*

<sup>6</sup>*Margin lending is the significant component of the asset titled customer, broker-dealer and clearing receivables on the unaudited Condensed Consolidated Balance Sheets.* 

<sup>7</sup>*Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate paid on interest-bearing liabilities.*

<sup>8</sup>*Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.*

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**AVERAGE BALANCES, NET INTEREST INCOME, YIELDS EARNED AND RATES PAID**

The following table presents information regarding (i) average balances; (ii) the total amount of interest income from interest-earning assets and the weighted-average yields on such assets; (iii) the total amount of interest expense on interest-bearing liabilities and the weighted-average rates paid on such liabilities; (iv) net interest income; (v) interest rate spread; and (vi) net interest margin:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** | **For the Fiscal Years Ended June 30,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2023** | **2023** | **2023** |
|<br>***(Dollars in thousands)*** | **Average**<br>**Balance**<sup>1</sup> | **Interest<br>Income /<br>Expense** | **Average<br>Yields<br>Earned /<br>Rates Paid** | **Average**<br>**Balance**<sup>1</sup> | **Interest<br>Income /<br>Expense** | **Average<br>Yields<br>Earned /<br>Rates Paid** | **Average<br>Balance1** | **Interest<br>Income /<br>Expense** | **Average<br>Yields<br>Earned /<br>Rates Paid** |
| **Assets:** |  |  |  |  |  |  |  |  |  |
| Loans<sup>2,3</sup> | $19853221 | $1654784 | 8.34% | $18010709 | $1499572 | 8.33% | $15571290 | $1048874 | 6.74% |
| &nbsp;&nbsp;&nbsp;Non-purchased loans | 18880093 | 1494140 | 7.91% | 17458451 | 1405202 | 8.05% | 15571290 | 1048874 | 6.74% |
| &nbsp;&nbsp;Purchased loans<sup>4</sup> | 973128 | 160644 | 16.51% | 552258 | 94370 | 17.09% |  |  | —% |
| Interest-earning deposits in other financial institutions | 2665865 | 128073 | 4.80% | 2242226 | 120861 | 5.39% | 1761902 | 73467 | 4.17% |
| Mortgage-backed and other securities | 109405 | 5181 | 4.74% | 218565 | 11234 | 5.14% | 259473 | 14669 | 5.65% |
| Securities borrowed and margin lending<sup>4</sup> | 344055 | 25492 | 7.41% | 329154 | 22407 | 6.81% | 388386 | 18657 | 4.80% |
| Stock of the regulatory agencies | 26930 | 1935 | 7.19% | 17250 | 1533 | 8.89% | 20936 | 1471 | 7.03% |
| Total interest-earning assets | 22999476 | $1815465 | 7.89% | 20817904 | $1655607 | 7.95% | 18001987 | $1157138 | 6.43% |
| Non-interest-earning assets | 775958 |  |  | 811032 |  |  | 735783 |  |  |
| Total assets | $23775434 |  |  | $21628936 |  |  | $18737770 |  |  |
| **Liabilities and Stockholders' Equity:** |  |  |  |  |  |  |  |  |  |
| Interest-bearing demand and savings | $16181014 | $632919 | 3.91% | $14352569 | $626678 | 4.37% | $10211737 | $305655 | 2.99% |
| Time deposits | 859400 | 34834 | 4.05% | 1062644 | 43892 | 4.13% | 1225537 | 33826 | 2.76% |
| Securities loaned | 113330 | 1830 | 1.61% | 153552 | 2214 | 1.44% | 303932 | 3673 | 1.21% |
| Advances from the FHLB | 74385 | 1652 | 2.22% | 107454 | 3087 | 2.87% | 423612 | 12644 | 2.98% |
| Borrowings, subordinated notes and debentures | 332665 | 16458 | 4.95% | 358452 | 18307 | 5.11% | 362733 | 18219 | 5.02% |
| Total interest-bearing liabilities | 17560794 | $687693 | 3.92% | 16034671 | $694178 | 4.33% | 12527551 | $374017 | 2.99% |
| Non-interest-bearing demand deposits | 2968839 |  |  | 2769272 |  |  | 3730524 |  |  |
| Other non-interest-bearing liabilities | 743920 |  |  | 745472 |  |  | 695617 |  |  |
| Stockholders' equity | 2501881 |  |  | 2079521 |  |  | 1784078 |  |  |
| Total liabilities and stockholders' equity | $23775434 |  |  | $21628936 |  |  | $18737770 |  |  |
| Net interest income |  | $1127772 |  |  | $961429 |  |  | $783121 |  |
| Interest rate spread<sup>6</sup> |  |  | 3.97% |  |  | 3.62% |  |  | 3.44% |
| Net interest margin<sup>7</sup> |  |  | 4.90% |  |  | 4.62% |  |  | 4.35% |

---

<sup>1.</sup>*Average balances are obtained from daily data.*

<sup>2.</sup>*Loans include loans held for sale, loan premiums and unearned fees.*

<sup>3.</sup>*Interest income includes reductions for amortization of loan and available-for-sale securities premiums and earnings from accretion of discounts and loan fees.*

<sup>4.</sup>*Purchased loans include loans, loan discounts and unearned fees related to the FDIC Loan Purchase.*

<sup>5.</sup>*Margin lending is the significant component of the asset titled customer, broker-dealer and clearing receivables on the audited consolidated balance sheets.*

<sup>6.</sup>*Interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average rate paid on interest-bearing liabilities.*

<sup>7.</sup>*Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.*<sup>1</sup> *Average balances are obtained from daily data.*

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**SEGMENT SELECTED FINANCIAL INFORMATION**

**Banking Business Segment**

---

| | | |
|:---|:---|:---|
| | **Fiscal Year Ended** | **Fiscal Year Ended** |
| | **June 30, 2025** | **June 30, 2024** |
| Efficiency ratio | 40.80% | 38.42% |
| Return on average assets | 2.02% | 2.20% |
| Interest rate spread | 4.03% | 3.66% |
| Net interest margin | 4.95% | 4.68% |

---

**Securities Business Segment**

---

| | | |
|:---|:---|:---|
| | **June 30,** | **June 30,** |
|<br>***(Dollars in thousands)*** | **2025** | **2024** |
| FDIC insured program balances at banks | $1444830 | $1289105 |
| Margin balances | $229387 | $219848 |
| Cash reserves for the benefit of customers | $146835 | $113676 |
| Securities lending: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-earning assets – stock borrowed | $139396 | $67212 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing liabilities – stock loaned | $139426 | $74177 |

---

## Exhibit 99.3

![](junesupplement001.jpg)

Axos Q4 Fiscal 2025 Earnings Supplement NYSE: AXJuly 30, 2025

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![](junesupplement002.jpg)

2 Loan Growth by Category $ Millions SF Warehouse Lending Multifamily Small Balance Commercial Jumbo Mortgage Asset-Based and Cash Flow Lending Lender Finance Non-RE Capital Call Facilities Auto Unsecured/OD Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Loans Inc (Mar)Q3 FY25Q4 FY25 $89$3,697$3,786 111498609 (330)2, 0591,729 (69)1, 2811,212 3425, 3715,713 2399851,224 482, 5192,567 3162, 3172,633 411, 5551,596 30400430 64652 —11 $823$20,729$21,552 Lender Finance RE CRE Specialty Other Auto & Consumer

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![](junesupplement003.jpg)

3 Diversified Deposit Gathering Approximately 90% of deposits are FDIC-insured or collateralized Deposit balances as of June 30, 2025 Note 1: Excludes approximately $450 million of off-balance sheet deposits › Serves approximately 40% of U.S. Chapter 7 bankruptcy trustees in exclusive relationship › Software allows servicing of SEC receivers and non-chapter 7 cases › Full service digital banking, wealth management, and securities trading › White-label banking › Business banking with simple suite of cash management services › 1031 exchange firms › Title and escrow companies › HOA and property management › Business management and entertainment › Broker-dealer client cash › Broker-dealer reserve accounts › Full service treasury/cash management › Team enhancements and geographic expansion › Bank and securities cross-sell Fiduciary Services $1.1B Consumer Direct $11.6B Specialty Deposits $2.2B Distribution Partners $0.4B Axos Securities1 $1.0B Small Business Banking $0.6B Commercial & Treasury Management $3.9B Diversified Deposit Gathering Business Lines

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![](junesupplement004.jpg)

4 Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL) ($ in millions) ACL + UCL ACL + UCL (9.0)

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![](junesupplement005.jpg)

5 Allowance for Credit Losses (ACL) by Loan Category as of June 30, 2025 $ Millions ACL %1ACLLoan Balance 0.3 %$12$4,395 0.9 %262,941 1.6 %1146,937 1.8 %1226,796 3.3 %16483 1.3 %$290$21,552 Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Auto & Consumer Loans Note 1: ACL % is based on gross unpaid principal balance

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![](junesupplement006.jpg)

6 Credit Quality ($ millions) %Non-Accrual LoansLoans O/SJune 30, 2025 1.00 %$44$4,395Single Family-Mortgage & Warehouse 1.12332,941Multifamily and Commercial Mortgage 0.42296,937Commercial Real Estate 0.91626,796Commercial & Industrial - Non-RE 0.412483Auto & Consumer 0.79 %$170$21,552Total %Non-Accrual LoansLoans O/SMarch 31, 2025 1.05 %$44$4,195Single Family-Mortgage & Warehouse 1.02343,341Multifamily and Commercial Mortgage 0.53346,356Commercial Real Estate 1.11716,390Commercial & Industrial - Non-RE 0.452447Auto & Consumer 0.89 %$185$20,729Total %Non-Accrual LoansLoans O/SJune 30, 2024 1.10 %$46$4,179Single Family-Mortgage & Warehouse 0.91353,862Multifamily and Commercial Mortgage 0.43266,089Commercial Real Estate 0.0845,241Commercial & Industrial - Non-RE 0.472432Auto & Consumer 0.57 %$113$19,803Total

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![](junesupplement007.jpg)

7 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Selected Balance Sheet Data: $22,855,334$23,569,084$23,709,422$23,981,154$24,783,078Total assets 19,231,38519,280,60919,486,72720,193,63021,049,610Loans—net of allowance for credit losses 16,48214,56625,43615,64410,012Loans held for sale, carried at fair value 260,542263,854270,605279,950290,049Allowance for credit losses 353594241346649Securities—trading 141,611137,99697,84879,95866,008Securities—available-for-sale 67,21284,326114,67291,915139,396Securities borrowed 240,028262,774298,887300,907252,720Customer, broker-dealer and clearing receivables 19,359,21719,973,32919,934,90420,136,71420,829,543Total deposits 90,00090,00060,00060,00060,000Advances from the FHLB 325,679313,519358,692377,427312,671Borrowings, subordinated notes and debentures 74,17795,883135,258111,094139,426Securities loaned 301,127315,985309,593314,399350,606Customer, broker-dealer and clearing payables $2,290,596$2,405,728$2,521,962$2,603,900$2,680,677Total stockholders' equity 56,894,56557,092,21657,097,63256,865,52456,483,617Common shares outstanding at end of period 70,221,63270,562,33370,571,33270,813,63771,101,642Common shares issued at end of period Per Common Share Data: $40.26$42.14$44.17$45.79$47.46Book value per common share $37.26$39.22$41.27$42.91$44.60Tangible book value per common share (Non-GAAP)1 Capital Ratios: 10.02 %10.21 %10.64 %10.86 %10.82 %Equity to assets at end of period Axos Financial, Inc.: 9.43 %9.78 %10.02 %10.45 %10.72 %Tier 1 leverage (to adjusted average assets) 12.01 %12.44 %12.42 %12.39 %12.51 %Common equity tier 1 capital (to risk-weighted assets) 12.01 %12.44 %12.42 %12.39 %12.51 %Tier 1 capital (to risk-weighted assets) 14.84 %15.29 %15.23 %15.21 %15.39 %Total capital (to risk-weighted assets) Axos Bank: 9.74 %9.82 %9.85 %10.14 %10.24 %Tier 1 leverage (to adjusted average assets) 12.74 %12.87 %12.67 %12.31 %12.45 %Common equity tier 1 capital (to risk-weighted assets) 12.74 %12.87 %12.67 %12.31 %12.45 %Tier 1 capital (to risk-weighted assets) 13.81 %14.06 %13.86 %13.49 %13.74 %Total capital (to risk-weighted assets) Axos Clearing LLC: $101,462$85,292$83,932$79,264$86,996Net capital $96,654$80,081$78,282$73,172$81,834Excess capital 42.21 %32.73 %29.71 %26.02 %33.71 %Net capital as a percentage of aggregate debit items $89,442$72,264$69,805$64,035$74,091Net capital in excess of 5% aggregate debit items AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

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![](junesupplement008.jpg)

8 At or For The Three Months Ended June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Selected Income Statement Data: $453,428$484,262$456,068$432,722$442,413Interest and dividend income 193,366192,214175,969157,258162,252Interest expense 260,062292,048280,099275,464280,161Net interest income 6,00014,00012,24814,50014,997Provision for credit losses 254,062278,048267,851260,964265,164Net interest income, after provision for credit losses 30,86128,60927,79933,37341,285Non-interest income 140,535147,465145,320146,261150,652Non-interest expense 144,388159,192150,330148,076155,797Income before income taxes 39,51646,85245,64342,87045,122Income taxes $104,872$112,340$104,687$105,206$110,675Net income Weighted average number of common shares outstanding: 56,938,40556,934,67157,094,15357,029,07856,392,620Basic 58,164,62358,168,46858,226,00658,174,69657,558,280Diluted Per Common Share Data: Net income: $1.84$1.97$1.83$1.84$1.96Basic $1.80$1.93$1.80$1.81$1.92Diluted $1.83$1.96$1.82$1.81$1.94Adjusted earnings per common share (Non-GAAP)1 Performance Ratios and Other Data: $497,930$49,224$206,118$706,903$855,980Growth in loans held for investment, net 52,57469,57066,82620,96242,487Loan originations for sale 1.81 %1.92 %1.74 %1.77 %1.85 %Return on average assets 18.81 %19.12 %16.97 %16.44 %16.85 %Return on average common stockholders' equity 3.63 %4.13 %3.91 %3.91 %3.97 %Interest rate spread2 4.65 %5.17 %4.83 %4.78 %4.84 %Net interest margin3 4.68 %5.21 %4.87 %4.83 %4.88 %Net interest margin3 – Banking Business Segment 48.31 %45.99 %47.20 %47.36 %46.87 %Efficiency ratio4 41.39 %39.83 %40.95 %41.53 %40.94 %Efficiency ratio4 – Banking Business Segment Asset Quality Ratios: 0.05 %0.17 %0.10 %0.09 %0.16 %Net annualized charge-offs to average loans 0.57 %0.89 %1.26 %0.89 %0.79 %Nonaccrual loans to total loans 0.51 %0.75 %1.06 %0.79 %0.71 %Non-performing assets to total assets 1.34 %1.35 %1.37 %1.37 %1.36 %Allowance for credit losses - loans to total loans held for investment 229.84 %149.32 %107.58 %151.28 %170.23 %Allowance for credit losses - loans to non-performing loans5 1 See "Use of Non-GAAP Financial Measures" herein. 2 Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. 3 Net interest margin represents annualized net interest income as a percentage of average interest-earning assets. 4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income. 5 The decrease in the Allowance for credit losses - loans to nonaccrual loans is primarily attributable to the change in nonaccrual loans. AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

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![](junesupplement009.jpg)

9 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025(Dollars in thousands, except per share amounts) $104,872$112,340$104,687$105,206$110,675Net income 2, 5542,5541, 6451,6041,604Acquisition-related costs ———(1,879)Other costs1 (699)(752)(503)80(465)Income taxes $106,727$114,142$105,829$105,011$111,814Adjusted earnings (non-GAAP) 58,164,62358,168,46858,226,00658,174,69657,558,280Average dilutive common shares outstanding $1.80$1.93$1.80$1.81$1.92Diluted EPS 0.040.040.030.030.03Acquisition-related costs ———(0.03)—Other costs1 (0.01)(0.01)(0.01)—(0.01)Income taxes $1.83$1.96$1.82$1.81$1.94Adjusted EPS (Non-GAAP) 1 Other costs primarily reflects the payment of a legal judgment at an amount less than previously accrued. We define "tangible book value", a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders' equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share, a non-GAAP financial measure, is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company's capital strength, financial condition, and ability to manage potential losses. Below is a reconciliation of total stockholders' equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated: June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025(Dollars in thousands, except per share amounts) $2,290,596$2,405,728$2,521,962$2,603,900$2,680,677Common stockholders' equity 28,92427,33528,04527,58527,218Less: servicing rights, carried at fair value 141,769139,215137,570135,966134,502Less: goodwill and intangible assets $2,119,903$2,239,178$2,356,347$2,440,349$2,518,957Tangible common stockholders' equity (Non-GAAP) 56,894,56557,092,21657,097,63256,865,52456,483,617Common shares outstanding at end of period $40.26$42.14$44.17$45.79$47.46Book value per common share $0.51$0.48$0.49$0.49$0.48Less: servicing rights, carried at fair value per common share $2.49$2.44$2.41$2.39$2.38Less: goodwill and other intangible assets per common share $37.26$39.22$41.27$42.91$44.60Tangible book value per common share (Non-GAAP) Use of Non-GAAP Financial Measures In addition to the results presented in accordance with GAAP, this earnings supplement includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this report enhance investors' understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures. We define "adjusted earnings", a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related costs and other costs (unusual or non-recurring charges). Adjusted earnings per diluted common share ("adjusted EPS"), a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and adjusted EPS provide useful information about the Company's operating performance. We believe excluding the non-recurring acquisition related costs and other costs (unusual or non-recurring) provides investors with an alternative understanding of Axos' core business. Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (Non-GAAP) for the periods shown:

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![](junesupplement010.jpg)

10 Greg Garrabrants, President and CEO Derrick Walsh, EVP and CFO investors@axosfinancial.com www.axosfinancial.com Johnny Lai, SVP Corporate Development and Investor Relations Phone: 858.649.2218 Mobile: 858.245.1442 jlai@axosfinancial.com Contact Information

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