Axos Financial, Inc.
For the period ended Mar 31, 2026. Filed Apr 30, 2026.
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Mar 31, 2026 · Filed Apr 30, 2026
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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:
| March 31, 2026 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $133,015 | $— | $133,015 | $133,015 | $— | $— |
| Other Assets — Derivative Assets1 | 17,275 | — | 17,275 | 3,130 | 9,202 | 4,943 |
| Liabilities: | ||||||
| Securities loaned | $148,668 | $— | $148,668 | $148,668 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 52,035 | — | 52,035 | 3,130 | 828 | 48,077 |
| June 30, 2025 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $139,396 | $— | $139,396 | $139,396 | $— | $— |
| Other Assets — Derivative Assets1 | 17,734 | — | 17,734 | 4,782 | 6,392 | 6,560 |
| Liabilities: | ||||||
| Securities loaned | $139,426 | $— | $139,426 | $139,426 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 68,497 | — | 68,497 | 4,782 | 1,340 | 62,375 |
1 Gross amounts of Other Assets - Derivative Assets are presented net of $44.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of March 31, 2026 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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