Financial Performance - For the three months ended December 31, 2025, net income was $128.4 million, an increase of 22.6% from $104.7 million in the same period of 2024 [152]. - Adjusted earnings for the six months ended December 31, 2025, were $250.5 million, compared to $220.0 million for the same period in 2024, reflecting a growth of 13.9% [152]. - Diluted EPS for the six months ended December 31, 2025, was $4.17, up from $3.72 in the same period of 2024, representing an increase of 12.1% [152]. - For the three months ended December 31, 2025, net income was $128.4 million, or $2.22 per diluted share, compared to $104.7 million, or $1.80 per diluted share for the same period in 2024, representing a 22.8% increase in net income [156]. - For the six months ended December 31, 2025, net income reached $240.75 million, or $4.17 per diluted share, compared to $217.0 million, or $3.72 per diluted share for the same period in 2024, indicating an increase of 10.9% in net income [156]. Asset Growth - Total assets increased to $28.20 billion as of December 31, 2025, up from $24.78 billion as of June 30, 2025, reflecting a growth of 9.1% [154]. - Loans, net of allowance for credit losses, rose to $24.27 billion as of December 31, 2025, compared to $21.05 billion as of June 30, 2025, marking an increase of 15.4% [154]. - Total available-for-sale securities increased to $811.1 million as of December 31, 2025, compared to $66.0 million at June 30, 2025, driven by significant purchases during the period [195]. - Total deposits increased by $2.4 billion, or 11.5%, to $23.2 billion at December 31, 2025, with significant increases in interest-bearing demand and savings deposits [196]. - Stockholders' equity rose by $249.4 million to $2,930.1 million at December 31, 2025, driven by net income of $240.7 million for the six months ended December 31, 2025 [198]. Income and Expenses - Net interest income for the three months ended December 31, 2025, was $331.71 million, up from $280.10 million for the same period in 2024, representing an increase of 18.4% [155]. - Non-interest income for the three months ended December 31, 2025, was $53.38 million, compared to $27.80 million for the same period in 2024, showing a significant increase of 92.5% [155]. - Total non-interest expense increased by $39.3 million, or 27.0%, for the three months ended December 31, 2025, primarily due to higher salaries and related costs, depreciation, and general administrative expenses [175]. - Non-interest income for the six months ended December 31, 2025, increased by $29.3 million, or 52.0%, compared to the same period in 2024, reflecting strong performance in various income streams [173]. Efficiency and Profitability - The efficiency ratio for the three months ended December 31, 2025, was 47.93%, compared to 47.20% for the same period in 2024, indicating a slight decline in operational efficiency [155]. - The return on average common stockholders' equity for the three months ended December 31, 2025, was 17.44%, up from 16.97% for the same period in 2024, reflecting improved profitability [155]. - The return on average assets for the Banking Business Segment improved to 2.07% for the three months ended December 31, 2025, compared to 1.87% for the same period in 2024 [185]. Regulatory Compliance - The company is subject to supervision by the Federal Reserve and other regulatory bodies, ensuring compliance with financial regulations [140][141]. - The Company and Bank met all capital adequacy requirements as of December 31, 2025, and were classified as "well capitalized" under regulatory standards [211]. Interest Rate Sensitivity - The net interest rate sensitivity gap as a percentage of total interest-earning assets was 20.31% [218]. - In a rising interest rate environment, a positive gap allows the institution to invest in higher yielding assets, with a projected increase in net interest income of 8.3% for the first 12 months if rates rise by 200 basis points [220]. - Conversely, if interest rates decrease by 200 basis points, net interest income is expected to decline by 0.3% in the first 12 months [220]. Acquisition and Business Segments - The company completed the acquisition of Verdant Commercial Capital, LLC for $1.0 billion, enhancing its equipment leasing business and acquiring approximately $1.0 billion of loans and leases [143]. - The Banking Business Segment focuses on providing a wide range of banking services, including online banking and various lending products to consumers and small businesses [146]. - The Securities Business Segment includes clearing broker-dealer and registered investment advisor custody services, contributing to the company's diversified financial services [147].

Loan Performance - Total loans outstanding increased to $24,776 million in Q2 FY26, up from $23,142 million in Q1 FY26, representing a growth of 7.05%[4] - Non-accrual loans totaled $152 million, representing 0.61% of total loans outstanding as of December 31, 2025, a decrease from 0.74% in September 2025[12] - The single-family mortgage segment reported non-accrual loans of $56 million, or 1.17% of loans outstanding, down from 1.50% in the previous quarter[12] - The commercial real estate segment showed non-accrual loans of $22 million, or 0.26% of loans outstanding, reflecting improved credit quality[12] - The multifamily and commercial mortgage segment had non-accrual loans of $6 million, or 0.24% of loans outstanding, indicating stable performance[12] - The allowance for credit losses increased to $327,043 thousand, up from $307,431 thousand, indicating a rise of 6.0%[15] - The provision for credit losses was $1.2 million, indicating a cautious approach to potential loan defaults[6] - The allowance for credit losses to total loans held for investment was 1.33% in Q1 2025, consistent with 1.34% in Q4 2024[17] Financial Performance - The net interest income for Verdant Commercial Capital was $11.2 million for the three months ended December 31, 2025, with total non-interest income of $18.9 million[6] - Net income for Q1 2025 was $128,397 thousand, up from $112,352 thousand in Q4 2024, indicating a growth of 14.0%[17] - Net income for the quarter ended December 31, 2025, was $128.4 million, an increase from $112.4 million in the previous quarter[19] - Adjusted earnings for the same period were $130.2 million, compared to $120.4 million in the prior quarter, reflecting a growth of approximately 6.8%[19] - Net interest income after provision for credit losses was $306,709 thousand for Q1 2025, up from $273,795 thousand in Q4 2024, reflecting a growth of 12.0%[17] - Non-interest income increased to $53,378 thousand in Q1 2025, compared to $32,340 thousand in Q4 2024, marking a significant rise of 65.0%[17] Asset and Equity Growth - Total assets increased to $28,201,406 thousand as of December 31, 2025, up from $27,431,817 thousand in the previous quarter, representing a growth of 2.8%[15] - Total stockholders' equity increased to $2,930,092 thousand, up from $2,793,121 thousand, marking a growth of 4.9%[15] - Common stockholders' equity rose to $2.93 billion, up from $2.79 billion in the prior quarter, reflecting a growth of 5.0%[19] - Tangible common stockholders' equity (Non-GAAP) reached $2,708,542 thousand, compared to $2,561,131 thousand in the prior quarter, reflecting a significant increase[20] - Book value per common share improved to $51.70, a 4.8% increase from $49.31 in the previous quarter[15] - Tangible book value per common share (Non-GAAP) rose to $47.79, a 5.8% increase from $45.21 in the previous quarter[15] Operational Efficiency - The efficiency ratio for Q1 2025 was 47.93%, slightly improved from 48.32% in Q4 2024[17] - The return on average assets improved to 1.83% in Q1 2025, compared to 1.77% in Q4 2024[17] - The net interest margin for the banking business segment was 5.02% in Q1 2025, up from 4.80% in Q4 2024[17] Strategic Focus - The company continues to enhance its team and expand geographically, focusing on cross-selling banking and securities services[8] - The company plans to continue focusing on core business operations while managing potential losses effectively[19] - The company emphasized the importance of non-GAAP financial measures in providing a clearer picture of its operating performance[19] Other Financial Metrics - Interest and dividend income for Q1 2025 reached $513,845 thousand, an increase from $465,736 thousand in Q4 2024, representing a growth of 6.0%[17] - Loan originations for sale increased to $61,009 thousand in Q1 2025, compared to $47,122 thousand in Q4 2024, a growth of 29.9%[17] - Non-performing assets to total assets decreased to 0.56% in Q1 2025 from 0.64% in Q4 2024, indicating improved asset quality[17] - The company incurred acquisition-related costs of $2.4 million during the quarter, which impacted net income[19] - The company reported a provision for credit losses of $7.8 million in the quarter, which was not present in the previous quarter[19] - Income taxes for the quarter were reported at $(649) thousand, a decrease from $(2,681) thousand in the previous quarter, suggesting improved tax efficiency[20] - Goodwill and intangible assets decreased to $196,119 thousand from $205,747 thousand in the previous quarter, indicating potential asset optimization[20] - The company reported other costs of $(1,879) thousand, which remained consistent with previous quarters, suggesting stable operational expenses[20]

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Axos Financial FY Conference Summary Company Overview - **Company**: Axos Financial (NYSE:AX) - **History**: Founded as a digitally enabled consumer bank, evolved into a full-service financial institution with three main segments: commercial banking, treasury management, and securities business [4][5] - **Assets**: Approximately $26-27 billion in bank assets and nearly $50 billion in assets under custody [5] Core Business Segments - **Commercial Bank**: Offers nationwide lending services across various industry-focused verticals - **Treasury Management**: Provides a full suite of treasury management and banking products - **Securities Business**: Includes custody, RIA custody, and clearing services for introducing broker-dealers - **Consumer Digital Bank**: Offers loans and deposits, with a significant single-family mortgage division [4][5] Growth and Performance - **Loan and Deposit Growth**: Achieved organic growth above industry averages while maintaining low credit losses [6] - **Sustainability of Growth**: The company raised its loan growth guidance, indicating confidence in sustaining growth due to business diversity [7][11] - **Diversity of Lending Platform**: The ability to shift focus among various lending verticals allows for better risk-adjusted returns [7][8] Market Dynamics - **Interest Rate Environment**: The company has adapted to changing interest rates, with a more positively sloped yield curve improving loan origination conditions [12][20] - **Competitive Landscape**: Fewer competitors in certain lending areas have allowed Axos to regain market share [12][13] M&A Activity - **Verdant Acquisition**: The acquisition of Verdant was strategic due to cultural fit and the potential for immediate profitability through improved funding [14][15] - **Future M&A Focus**: Looking for national lending businesses with good risk-adjusted returns and entrepreneurial teams [15][16] Fee Income and Revenue Streams - **Impact of Verdant**: Expected to significantly boost fee income through various operating leases [27][30] - **Mortgage Banking Outlook**: Anticipated improvement in mortgage banking fees with potential rate decreases [28][29] Technology and AI Integration - **AI Utilization**: AI is being leveraged in software development, internal operations, and data management, leading to increased efficiency and faster product development [31][34] - **Product Development**: Plans to roll out new products, including crypto trading, and enhance existing platforms for better integration and user experience [41][44] Challenges and Opportunities - **Regulatory Environment**: Acknowledgment of increasing competition from new charters and fintechs, but a positive outlook on the regulatory landscape [48] - **Credit Quality**: Overall positive sentiment regarding credit quality, particularly in real estate [48] Conclusion - **Outlook**: The company expresses optimism for the future, driven by advancements in AI, successful integration of Verdant, and a favorable interest rate environment [49]

LAS VEGAS--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX) ("Axos†or the "Company†), holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., announced today that it will host a conference call on Thursday, January 29, 2026 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the second quarter of fiscal year 2026 ended December 31, 2025. Executive management will discuss the Company's second quarter fiscal 2026 results on the call. The Company plans to distribute its e. ...

Core Points - The Axos ONE® Checking account has a base APY of 0.00% and the Axos ONE® Savings account has a base APY of up to 1.00% [2] - Promotional APY is available for both accounts if specific criteria are met during the Qualification Period, which runs from the first business day of the month to the 25th [3] - To qualify for the promotional APY, the Axos ONE® Checking account must meet either of two sets of requirements related to direct deposits and average daily balance [7] Qualification Criteria - Option 1 requires monthly qualifying direct deposits of at least $1,500 and an average daily balance of at least $1,500 [7] - Option 2 requires monthly qualifying deposits of at least $5,000 and an average daily balance of at least $5,000 [7] - If the requirements are met, the Axos ONE® Checking account earns a promotional rate of 0.51% APY and the Axos ONE® Savings account can earn up to 4.31% APY for that statement cycle [7] Account Status - Both accounts must be open and active on the 25th of the month and on the date interest is paid to qualify for the promotional APY [6] - If either account closes during the Qualification Period, neither account will be eligible for the promotional APY for that cycle [6] Deposit Types - Qualifying deposits include ACH transfers, inbound wire transfers, and check deposits, while internal transfers and interest payments do not qualify [5][4]

Group 1 - The meeting is chaired by Lis Wigmore, who is a Trustee and the Chair of the Special Committee of the Board of Trustees [2] - The meeting is hybrid, allowing both in-person and virtual participation through the Lumi Connect platform, enabling registered unitholders to vote and ask questions [3] - The trustees present at the meeting include Heather-Anne Irwin, Samir Manji, Jacqueline Moss, Ben Rodney, Mike Shaikh, and Lis Wigmore, along with senior management team members [4]

Core Points - The Axos ONE® Checking account has a base APY of 0.00% and the Axos ONE® Savings account has a base APY of up to 1.00% [2] - Promotional APY is available for both accounts if specific criteria are met during the Qualification Period [3][6] - The promotional APY for the Axos ONE® Checking account can reach up to 0.51% and for the Axos ONE® Savings account up to 4.31% when requirements are satisfied [6] Qualification Criteria - To qualify for the promotional APY, the Axos ONE® Checking account must receive monthly qualifying direct deposits of at least $1,500 or maintain an average daily balance of at least $1,500 [6] - Alternatively, the account can qualify by receiving monthly qualifying deposits of at least $5,000 or maintaining an average daily balance of at least $5,000 [6] - Both accounts must remain open and active on the 25th of the month to receive the promotional APY for that statement cycle [7] Deposit Types - Qualifying deposits include ACH transfers from external accounts, inbound wire transfers, and check deposits [5] - Direct deposits must be electronic deposits of paychecks or government benefits; other types of deposits do not qualify [4] - Internal transfers, interest payments, promotional bonuses, and refunds are not considered qualifying deposits [5]

Core Insights - The article discusses the increasing difficulty in finding truly free checking accounts, while highlighting that legitimate options still exist, particularly among online banks and select brick-and-mortar institutions [1][2]. Best Free Checking Accounts - U.S. Bank Smartly® Checking offers up to $450 for new account openings, with additional features like no ATM fees at U.S. Bank ATMs and access to budgeting tools [4][7]. - Rewards Checking Plus via Upgrade provides a cash-back program with 2% cash back on eligible purchases for accounts with a monthly direct deposit of at least $1,000 [5][8]. - Wealthfront Cash Account offers a $30 bonus for new accounts funded with at least $500, along with a competitive yield and no ongoing balance requirements [12][13]. - GO2bank features a high APY of 4.50% on savings and offers early direct deposit options [19][20]. - Chime® Checking Account provides a 4.50% APY on savings up to $5,000 and up to 7% cash back on eligible purchases [21][22]. - Capital One 360 Checking has no minimum balance requirements and includes features like mobile deposit and real-time alerts [27][28]. Features and Benefits - Many accounts offer no monthly fees, no minimum balance requirements, and access to extensive ATM networks [39][43]. - Some accounts provide budgeting tools and high APYs on linked savings accounts, enhancing overall usability [49][47]. - Debit card rewards programs are available, with some accounts offering significant cash back on everyday purchases [48][43]. Considerations for Choosing Accounts - It is essential to evaluate the APY, cashback rewards, and any potential fees associated with the accounts [64][61]. - Users should consider the mobile app's functionality and customer service reviews when selecting a bank [64][63].

Core Viewpoint - Investors in Axos Financial, Inc. should closely monitor the stock due to significant movements in the options market, particularly the high implied volatility of the Jan 16, 2026 $32.2 Call option [1] Group 1: Implied Volatility - Implied volatility indicates the market's expectations for future stock movement, with high levels suggesting potential significant price changes or upcoming events that could lead to a rally or sell-off [2] - The current high implied volatility for Axos Financial options may signal a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay [4] Group 2: Analyst Insights - Axos Financial holds a Zacks Rank 3 (Hold) within the Financial - Miscellaneous Services industry, which is in the top 30% of the Zacks Industry Rank [3] - Over the past 60 days, the Zacks Consensus Estimate for Axos Financial's current quarter earnings has increased from $1.98 per share to $2.01 per share, indicating positive sentiment among analysts [3]