Axos Financial Inc
For the period ended Dec 31, 2023. Filed Jan 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Jan 30, 2024
AX$92.17-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Income (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| December 31, | December 31, | |||
| (Dollars in thousands, except earnings per common share) | 2023 | 2022 | 2023 | 2022 |
| INTEREST AND DIVIDEND INCOME: | ||||
| Loans, including fees | $357,852 | $255,661 | $684,826 | $463,999 |
| Securities borrowed and customer receivables | 5,467 | 4,321 | 10,462 | 8,705 |
| Investments and other | 31,344 | 19,606 | 63,327 | 30,670 |
| Total interest and dividend income | 394,663 | 279,588 | 758,615 | 503,374 |
| INTEREST EXPENSE: | ||||
| Deposits | 160,181 | 71,348 | 306,291 | 103,853 |
| Advances from the Federal Home Loan Bank | 530 | 2,504 | 1,059 | 7,667 |
| Securities loaned | 1,010 | 1,067 | 1,459 | 2,010 |
| Other borrowings | 4,336 | 4,759 | 10,045 | 9,459 |
| Total interest expense | 166,057 | 79,678 | 318,854 | 122,989 |
| Net interest income | 228,606 | 199,910 | 439,761 | 380,385 |
| Provision for credit losses | 13,500 | 3,001 | 20,500 | 11,751 |
| Net interest income, after provision for credit losses | 215,106 | 196,909 | 419,261 | 368,634 |
| NON-INTEREST INCOME: | ||||
| Broker-dealer fee income | 12,519 | 9,812 | 24,996 | 18,990 |
| Advisory fee income | 7,362 | 6,983 | 15,581 | 13,942 |
| Banking and service fees | 10,061 | 10,143 | 18,411 | 16,657 |
| Mortgage banking and servicing rights income | 753 | 641 | 4,631 | 4,006 |
| Prepayment penalty fee income | 1,037 | 750 | 2,620 | 1,942 |
| Gain on acquisition | 92,397 | — | 92,397 | — |
| Total non-interest income | 124,129 | 28,329 | 158,636 | 55,537 |
| NON-INTEREST EXPENSE: | ||||
| Salaries and related costs | 58,883 | 49,720 | 114,694 | 96,716 |
| Data and operational processing | 18,326 | 14,632 | 34,410 | 28,654 |
| Depreciation and amortization | 6,488 | 5,957 | 12,366 | 12,051 |
| Advertising and promotional | 9,794 | 10,899 | 20,169 | 17,269 |
| Professional services | 5,976 | 8,455 | 15,787 | 16,542 |
| Occupancy and equipment | 4,001 | 3,683 | 7,847 | 7,737 |
| FDIC and regulatory fees | 3,935 | 3,569 | 8,384 | 7,304 |
| Broker-dealer clearing charges | 5,948 | 3,739 | 9,960 | 6,568 |
| General and administrative expense | 8,488 | 7,373 | 18,728 | 31,273 |
| Total non-interest expense | 121,839 | 108,027 | 242,345 | 224,114 |
| INCOME BEFORE INCOME TAXES | 217,396 | 117,211 | 335,552 | 200,057 |
| INCOME TAXES | 65,625 | 35,659 | 101,136 | 60,098 |
| NET INCOME | $151,771 | $81,552 | $234,416 | $139,959 |
| COMPREHENSIVE INCOME | $154,240 | $80,377 | $237,107 | $135,947 |
| Basic earnings per common share | $2.65 | $1.36 | $4.04 | $2.34 |
| Diluted earnings per common share | $2.62 | $1.35 | $3.98 | $2.31 |
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