Axos Financial, Inc. reported a net income of $112.4 million for the three months ended September 30, 2025, reflecting a slight increase from $112.3 million in the same period last year. Earnings per diluted share rose to $1.94, compared to $1.93 in the prior year. Total interest and dividend income decreased to $465.7 million, down from $484.3 million, while interest expense also fell to $174.7 million from $192.2 million, resulting in a net interest income of $291.1 million, a marginal decline from $292.0 million year-over-year.
The company experienced significant growth in total assets, which increased by $2.6 billion, or 10.7%, to $27.4 billion as of September 30, 2025, primarily driven by the acquisition of Verdant Commercial Capital, LLC. This acquisition added approximately $1 billion in loans and leases to Axos's portfolio. Total liabilities also rose by $2.5 billion, or 11.5%, to $24.6 billion, largely due to increased deposit balances and secured financings associated with the Verdant acquisition.
In terms of operational metrics, Axos reported a total of 617,460 deposit accounts as of September 30, 2025, an increase from 600,601 accounts at the end of June 2025. The company’s total deposits reached $22.3 billion, up from $20.8 billion, with non-interest-bearing deposits increasing to $3.4 billion. The allowance for credit losses on loans rose to $307.4 million, reflecting the impact of the Verdant acquisition and ongoing loan growth.
Looking ahead, Axos Financial anticipates continued growth driven by its strategic initiatives, including the integration of Verdant and expansion of its product offerings. The company remains focused on enhancing its technology-driven financial services and maintaining a strong capital position, with a Tier 1 leverage ratio of 10.26% as of September 30, 2025, indicating compliance with regulatory capital requirements. The management expressed confidence in the company's ability to navigate market conditions and capitalize on growth opportunities in the financial services sector.
About Axos Financial, Inc.
Axos Financial, Inc. is a technology-driven financial services company offering digital banking, lending, securities clearing, custody, and investment advisory services. Its banking segment provides consumer and commercial deposit and loan products nationwide, including residential and commercial mortgages, auto loans, and business loans. The securities segment serves independent advisors and broker-dealers with clearing, custody, and trading platforms. Axos leverages scalable technology and low-cost distribution to deliver secure, customer-focused financial solutions.
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