Axos Financial Inc

At March 31, 2024, we had commitments to fund loans of $3,676.5 million, and commitments to sell loans with an aggregate outstanding principal balance of $34.7 million. The Company also has standby letters of credit commitments of $15.9 million. We have no commitments to purchase available-for-sale securities as of March 31, 2024.

In the normal course of business, Axos Clearing’s customer, broker-dealer, and registered investment advisor activities involve the execution, settlement, and financing of various customer securities transactions. These activities may expose Axos Clearing to off-balance-sheet risk in the event the customer or other broker is unable to fulfill its contracted obligations and Axos Clearing has to purchase or sell the financial instrument underlying the contract at a loss. Axos Clearing’s clearing agreements with broker-dealers for which it provides clearing services requires them to indemnify Axos Clearing if customers fail to satisfy their contractual obligation.