Axos Financial, Inc. reported a total revenue of $1.95 billion for the fiscal year ending June 30, 2025, marking a 9.5% increase from $1.78 billion in the previous year. The company's net income for the same period was $432.9 million, a slight decrease from $450 million in fiscal 2024. The decline in net income was attributed to a higher provision for credit losses, which rose to $55.7 million from $32.5 million in the prior year, reflecting increased loan growth and macroeconomic factors impacting credit quality.
The company experienced significant growth in its loan portfolio, which increased by $1.8 billion to $21.6 billion, driven primarily by the commercial and industrial non-real estate and commercial real estate segments. Total deposits also rose by $1.5 billion to $20.8 billion, indicating strong customer engagement and retention. The number of deposit accounts increased to 600,601, up from 555,538 in the previous year, with a notable rise in interest-bearing checking and savings accounts.
Strategically, Axos Financial made two significant acquisitions during the fiscal year. In August 2023, the company acquired marine floor financing loans valued at approximately $52 million, and in December 2023, it purchased two loan portfolios from the FDIC with an aggregate unpaid principal balance of $1.3 billion. These acquisitions were aimed at enhancing the company's asset base and diversifying its loan offerings. Additionally, Axos Financial continued to invest in technology and operational capabilities, increasing its employee headcount to 1,989 from 1,781 in the previous year.
Looking ahead, Axos Financial expressed optimism about its growth trajectory, supported by a strong capital position. As of June 30, 2025, the company maintained a common equity tier 1 capital ratio of 12.52%, well above the regulatory minimum of 4.5%. The company plans to leverage its robust deposit franchise and continue expanding its digital banking and securities services. However, it acknowledged potential challenges from macroeconomic conditions, including interest rate fluctuations and inflation, which could impact future performance.
About Axos Financial, Inc.
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