Axos Q4 Fiscal 2023 Earnings Supplement ...

Axos Financial, Inc. (NYSE:AX) Q4 2023 Earnings Conference Call July 27, 2023 5:00 PM ET Company Participants Johnny Lai – Senior Vice President, Corporate Development and Investor Relations Greg Garrabrants – President and Chief Executive Officer Derrick Walsh – Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Liesch – Piper Sandler Gary Tenner – D.A. Davidson David Feaster – Raymond James Michael Perito – KBW Operator Greeting, and welcome to the Axos Financial Four ...

Financial Data and Key Metrics Changes - The company reported net income of $80 million and earnings per share of $1.32 for Q3 2023, representing year-over-year growth of 29% and 28% respectively [8][11] - Book value per share increased to $31.07, up 17% from the previous year [8] - Net interest margin was 4.42%, down seven basis points from the previous quarter but up 40 basis points year-over-year [9][10] - Total deposits increased by approximately $1 billion linked quarter, reaching $16.7 billion, with a year-over-year growth of approximately 32% [7][12] Business Line Data and Key Metrics Changes - Ending net loans for investment balances were $15.8 billion, up 2% linked quarter and 9% annualized, with growth in single-family mortgage, multifamily, and C&I loans [9] - Loan originations for the quarter were $1.8 billion, down from $2.4 billion in the same quarter last year, with tightened pricing and underwriting guidelines in several categories [28] - Noninterest income for Q3 2023 was $32.2 million, an increase of 12% year-over-year, driven by a 40% increase in broker-dealer fees linked quarter [29] Market Data and Key Metrics Changes - Approximately 57% of loans were floating rate, with the average yield on held-for-investment loans at 7.07%, up 45 basis points from the prior quarter [16] - The company reported a strong capital position with a Tier 1 leverage ratio of 10.2% at the Bank, well above regulatory requirements [11] - The company maintained a diverse deposit base, with 43% demand deposits, 46% savings and money market, and 11% CDs [17] Company Strategy and Development Direction - The company aims to maintain investments in technology and personnel while capitalizing on market dislocations to grow its business [25] - There are plans to expand into new areas and acquire teams, with a focus on enhancing deposit and lending capabilities [38] - The company is strategically positioned to take advantage of reduced competition in the lending market, allowing for better pricing and terms [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's stability and strength amid recent banking industry turmoil, highlighting a robust liquidity position [12] - The outlook for loan growth is projected to be in the high single digits to low teens year-over-year, with net interest margin guidance of 4.25% to 4.35% for the next few quarters [31] - Management noted that maintaining excess liquidity is prudent given the uncertain economic environment [31] Other Important Information - The company repurchased approximately $32 million of common stock in Q3 2023, with an additional $100 million approved for share repurchases [11][30] - The company has a healthy pipeline of new advisory clients, signing 15 new deals with a combined assets under custody of $1 billion [18] Q&A Session Summary Question: How does the liquidity on the balance sheet affect NII? - Management indicated that the liquidity is fairly neutral as it is placed with the Fed, with a slight benefit expected [34] Question: Are there any concerns regarding substandard loans? - Management stated that there are no significant concerns and that the attachment points remain strong [36] Question: What expansion opportunities are being considered? - Management mentioned potential team acquisitions and bulk loan purchases, indicating a positive outlook on deposit growth [38] Question: What is the status of the security segment? - Management highlighted ongoing improvements and the development of a new core processing system to enhance competitiveness [50] Question: What is the onboarding timeline for new RIAs? - Management estimated a six-month timeframe for onboarding new RIAs after contracts are signed [54]

Axos Q3 Fiscal 2023 Earnings Supplement April 27, 2023 NYSE: AX Loan Growth by Category for Third Quarter Ended March 31, 2023 $ millions Jumbo Mortgage Single Family Mortgage & Warehouse SF Warehouse Lending Multifamily Multifamily & Commercial Mortgage Small Balance Commercial CRE Specialty Commercial Real Estate Lender Finance RE Loans Commercial & Industrial Non-RE Equipment Leasing Asset-Based Lending Auto Auto & Consumer Unsecured / OD Other Q2 FY23Inc (Dec)Q3 FY23 $3,925 $80 $3,845 162 144 18 2,245 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37709 AXOS FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0867444 (State or other jurisdiction of incorporation or organization)(I.R.S. Emp ...

Axos Financial, Inc. (NYSE:AX) Q2 2023 Earnings Conference Call January 26, 2023 5:00 PM ET Company Participants Johnny Lai - SVP, Corporate Development & Investor Relations Greg Garrabrants - President & Chief Executive Officer Derrick Walsh - Executive Vice President & Chief Financial Officer Conference Call Participants Andrew Liesch - Piper Sandler Gary Tenner - D.A. Davidson Edward Hemmelgarn - Shaker Investments Michael Perito - KBW Operator Greetings, and welcome to the Axos Financial Second Quarter ...

Axos Q2 Fiscal 2023 Earnings Supplement January 26, 2023 NYSE: AX Loan Growth by Category for Second Quarter Ended December 31, 2022 $ millions Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Loans Commercial & Industrial Non-RE* Auto & Consumer Other Q1 FY23 Q2 FY23 Inc (Dec) $3,845 $3,833 $12 Jumbo Mortgage SF Warehouse Lending 144 177 (33) 2,175 2,127 48 Multifamily Small Balance Commercial 37 875 838 4,848 133 4,981 CRE Specialty 781 676 105 Lender Finance RE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37709 AXOS FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0867444 (State or other jurisdiction of incorporation or organization)(I.R.S. ...

Axos Financial, Inc. (NYSE:AX) Q1 2023 Earnings Conference Call October 27, 2022 5:00 PM ET Company Participants Johnny Lai - Corporate Development & Investor Relations Greg Garrabrants - President & Chief Executive Officer Derrick Walsh - Executive Vice President & Chief Financial Officer Andy Micheletti - Executive Vice President of Finance Conference Call Participants Gary Tenner - D.A. Davidson Andrew Liesch - Piper Sandler David Feaster - Raymond James Michael Perito - KBW Edward Hemmelgarn - Shaker In ...

Financial Performance - Axos Financial, Inc. reported net income of $58.4 million for the three months ended September 30, 2022, compared to $60.2 million for the same period in 2021, reflecting a decrease of approximately 3%[128] - Adjusted earnings for the same period were $71.6 million, up from $62.2 million year-over-year, representing an increase of about 15%[128] - The adjusted earnings per diluted common share increased to $1.18 from $1.03, marking a growth of approximately 14.6%[128] - Net income for the three months ended September 30, 2022, was $58.4 million, or $0.97 per diluted share, compared to $60.2 million, or $0.99 per diluted share for the same period in 2021[137] Assets and Equity - Common stockholders' equity rose to $1.7 billion as of September 30, 2022, compared to $1.46 billion a year earlier, indicating an increase of about 16.5%[129] - The Company has approximately $18.4 billion in total assets, indicating a diversified financial services portfolio[117] - Total assets increased to $18.4 billion as of September 30, 2022, compared to $14.9 billion as of September 30, 2021[133] - Total assets increased to $17,640.6 million in 2022 from $14,502.4 million in 2021, representing a growth of 21.4%[1] Income and Expenses - Net interest income increased by 23.1% to $180.5 million for the three months ended September 30, 2022, compared to $146.6 million for the same period in 2021[138] - Total interest and dividend income rose by 41.4% to $223.8 million for the three months ended September 30, 2022, compared to $158.3 million in the same period of 2021[139] - Total non-interest expenses increased to $116.1 million in 2022 from $84.4 million in 2021, marking a rise of 37.5%[1] - Non-interest income was $27.2 million for the three months ended September 30, 2022, compared to $26.7 million for the same period in 2021[135] Loans and Credit Losses - Provision for credit losses was $8.75 million for the three months ended September 30, 2022, compared to $4.0 million for the same period in 2021[135] - The average balance of loans increased by 26.6% for the three months ended September 30, 2022, compared to the same period in 2021[139] - Net loans held for investment rose 8.0% to $15.2 billion at September 30, 2022, up from $14.1 billion at June 30, 2022, driven by loan originations of $2.5 billion[177] - The provision for credit losses was $8.8 million for the three months ended September 30, 2022, compared to $4.0 million for the same period in 2021[185] Banking and Securities Segments - The Banking Business segment focuses on online banking and lending services, while the Securities Business segment includes clearing and advisory services[120] - For the three months ended September 30, 2022, the Banking Business segment reported income before taxes of $80.9 million, a decrease from $90.3 million in the same period of 2021, attributed to increased non-interest expenses and provisions for credit losses[162] - The Securities Business segment reported income before taxes of $8.9 million for the three months ended September 30, 2022, compared to $9 thousand in the same period of 2021, due to higher non-interest income[172] Regulatory and Capital Adequacy - The Company is subject to regulation by the Federal Reserve and the OCC, ensuring compliance with financial standards[117] - The Company and Bank met all capital adequacy requirements as of September 30, 2022, and were classified as "well capitalized" under regulatory standards[204] - The Tier 1 capital ratio was 9.97% as of September 30, 2022, compared to 9.86% as of June 30, 2022[206] Market and Risk Exposure - The Securities Business is exposed to market risk primarily due to fluctuations in interest rates and market prices, impacting customer transactions and trading activities[221] - The net present value of assets decreased by 4.1% to $1,856,089 thousand with a 200 basis point increase in interest rates[220]