Axos Financial Inc

For the period ended Sep 30, 2024. Filed Oct 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.

Sep 30, 2024 · Filed Oct 30, 2024

AX$92.17-1.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows (unaudited)

AXOS FINANCIAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Three Months Ended
	September 30,
(Dollars in thousands)	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$112,340	$82,645
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,450	5,878
Other accretion and amortization	(37,358)	(3,101)
Stock-based compensation expense	10,239	6,802
Trading activity	(241)	118
Provision for credit losses	14,000	7,000
Deferred income taxes	464	3,526
Origination of loans held for sale	(69,570)	(50,607)
Unrealized and realized gains on loans held for sale	(2,881)	(1,796)
Proceeds from sale of loans held for sale	74,532	65,138
Change in the fair value of servicing rights	1,765	(3,448)
Gain on repurchase of subordinated notes	(604)	—
Net change in assets and liabilities which provide (use) cash:
Securities borrowed	(17,114)	37,915
Customer, broker-dealer and clearing receivables	(22,746)	88,651
Other Assets	4,243	(86,716)
Securities loaned	21,706	(43,386)
Customer, broker-dealer and clearing payables	14,858	(103,562)
Accounts payable and other liabilities	(40,295)	29,130
Net cash provided by operating activities	70,788	34,187
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	(16,000)	(4,796)
Proceeds from sale and repayment of available-for-sale securities	21,564	718
Purchase of stock of regulatory agencies	(12,446)	—
Net change in loans held for investment	(48,333)	(444,421)
Proceeds from sale of loans originally classified as held for investment	27,800	—
Proceeds from sale of other real estate owned and repossessed assets	2,202	918
Purchase of loans and leases, net of discounts and premiums	—	(51,892)
Purchases of furniture, equipment, software and intangibles	(17,770)	(6,492)
Purchases of other investments	(2,558)	(910)
Distributions received from other investments	—	593
Net cash used in investing activities	(45,541)	(506,282)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	614,112	442,633
Net (repayment) proceeds of other borrowings	—	85,700
Payments related to settlement of restricted stock units	(9,476)	(6,083)
Purchase of treasury stock	—	(18,472)
Repurchase of subordinated notes	(11,803)	—
Net cash provided by financing activities	592,833	503,778
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	618,080	31,683
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year	$2,185,776	$2,382,086
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period	$2,803,856	$2,413,769
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on interest-bearing liabilities	192,306	152,359
Income taxes paid	40,158	52,664
Transfers to other real estate and repossessed vehicles from loans held for investment	585	1,847
Transfers from loans held for investment to loans held for sale	28,140	2,783
Operating lease liabilities from obtaining right of use assets	212	—

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