Axos Financial, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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Sep 30, 2025 · Filed Oct 30, 2025
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7. Offsetting of Derivatives and Securities Financing Agreements
- OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS
The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate and foreign exchange risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements”in the 2025 Form 10-K.
The following tables present information about the offsetting of these instruments and related collateral amounts:
| September 30, 2025 | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Amounts Not Offset2 | Net Assets / Liabilities |
| Assets: | |||||
| Securities borrowed | $182,518 | $— | $182,518 | $182,518 | $— |
| Other Assets — Derivative Assets1 | 17,891 | — | 17,891 | 10,468 | 7,423 |
| Liabilities: | |||||
| Securities loaned | $204,620 | $— | $204,620 | $204,620 | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 64,618 | — | 64,618 | 6,682 | 57,936 |
| June 30, 2025 | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Amounts Not Offset2 | Net Assets / Liabilities |
| Assets: | |||||
| Securities borrowed | $139,396 | $— | $139,396 | $139,396 | $— |
| Other Assets — Derivative Assets1 | 17,734 | — | 17,734 | 11,174 | 6,560 |
| Liabilities: | |||||
| Securities loaned | $139,426 | $— | $139,426 | $139,426 | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 68,497 | — | 68,497 | 6,122 | 62,375 |
1 Gross amounts of Other Assets - Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $5.3 million and $6.3 million as of September 30, 2025 and June 30, 2025, respectively, and cash collateral placed on Derivative Liabilities of $1.5 million and $1.3 million as of September 30, 2025 and June 30, 2025, respectively.
The securities loaned transactions represent equities with an overnight and open maturity classification as of both periods presented.
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