Axos Financial Inc
For the period ended Jun 30, 2024. Filed Aug 22, 2024.
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FY2024 · Filed Aug 22, 2024
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12. Advances from the Federal Home Loan Bank
- ADVANCES FROM THE FEDERAL HOME LOAN BANK
At June 30, 2024 and 2023, the Company’s fixed-rate FHLB advances had interest rates that ranged from 2.07% to 2.82% with a weighted average of 2.32% and ranged from 2.07% to 2.82% with a weighted average of 2.32%, respectively.
Maturities and weighted-average rates of fixed-rate advances from FHLB are as follows:
| At June 30, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| (Dollars in thousands) | Amount | Weighted-Average Rate | Amount | Weighted-Average Rate |
| Within one year | $30,000 | 2.82% | $— | —% |
| After one but within two years | — | —% | 30,000 | 2.82% |
| After two but within three years | — | —% | — | —% |
| After three but within four years | — | —% | — | —% |
| After four but within five years | — | —% | — | —% |
| After five years | 60,000 | 2.07% | 60,000 | 2.07% |
| Total | $90,000 | 2.32% | $90,000 | 2.32% |
Advances from the FHLB were collateralized by the Company’s pledge of certain loans and available-for-sale securities to the FHLB, and by the Company’s investment in capital stock of the FHLB of San Francisco. Generally, each advance carries a prepayment penalty and is payable in full at its maturity date.
At June 30, 2024, the Company had $3,012.6 million available immediately and $4,229.1 million available with additional collateral for advances from the FHLB for terms up toten years.
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