Welcome to our dedicated page for Axos Financial news (Ticker: AX), a resource for investors and traders seeking the latest updates and insights on Axos Financial stock.
Axos Financial, Inc. (NYSE: AX) is the holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., and it regularly issues news updates on its banking, securities, and corporate activities. This news page aggregates coverage of Axos Financial and its subsidiaries, giving readers a centralized view of company announcements, earnings releases, strategic transactions, and operational developments.
Axos Financial’s news flow frequently includes quarterly and annual earnings reports, where the company discusses net interest income, non-interest income, loan and deposit growth, credit quality metrics, and segment performance for its Banking Business Segment and Securities Business Segment. These releases also provide insight into non-GAAP measures such as adjusted earnings, adjusted EPS, and tangible book value per common share, along with commentary from senior management.
In addition to financial results, Axos Financial and Axos Bank announce strategic initiatives and acquisitions. Recent examples include the acquisition of Verdant Commercial Capital, LLC to expand equipment leasing activities and add a nationwide commercial lending vertical, and the issuance of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 to refinance existing subordinated notes and support growth initiatives. News items also cover Axos Bank’s partnerships, such as joining Qualia’s Bank Partner Network to integrate specialized title and escrow banking services with a digital real estate closing platform.
Axos Bank and Axos Clearing also release updates on industry recognition and client relationships. MONEY’s Best Banks list named Axos Bank “Best Overall” in certain categories, and Axos Clearing has announced strategic relationships with wealth management firms like Alden Investment Group, highlighting the use of Axos Complete™, an integrated technology suite for advisors and clients.
Investors and observers can use this news page to monitor Axos Financial’s earnings announcements, capital markets transactions, acquisitions, partnerships, and other corporate events over time.
Axos Financial, Inc. (NYSE: AX) released preliminary financial results for Q3 FY2023, revealing a 25% increase in total deposits, approximating $1.0 billion, totaling $16.7 billion as of March 31, 2023. The company reported no borrowings from the Fed’s discount window or the Bank Term Funding Program, with $5.9 billion in total borrowing availability. Cash and cash equivalents rose by $550 million to $2.5 billion. Gross loans increased by $370 million to $16.0 billion. Axos will host a conference call on April 27, 2023, to discuss financial results.
Axos Bank has launched its Insured Cash Sweep (ICS) program, providing multimillion-dollar FDIC insurance coverage for deposits exceeding the $250,000 limit. This program offers enhanced protection for both commercial and consumer banking clients, allowing coverage up to
Axos Financial, Inc. (NYSE: AX) reported a 12% annualized increase in average commercial and consumer deposits, totaling
Axos Bank has been recognized in GOBankingRates's Best Banks of 2023, earning top spots in categories like Best Online Banks and Best Checking Accounts. The evaluation considered over 4,300 data points from more than 170 banks and credit unions. Axos Bank is praised for its no-fee accounts, including the Rewards Checking account and Essential Checking, which offer a user-friendly experience. The bank holds over $18.7 billion in consolidated assets and is a wholly owned unit of Axos Financial, listed under the stock symbol AX.
Axos Financial reported strong fiscal second quarter results ending December 31, 2022, with a net income of $81.6 million, up 34% from $60.8 million in Q2 2021. Diluted earnings per share rose to $1.35, a 35% increase from $1.00. Adjusted earnings reached $83.4 million, with adjusted EPS at $1.38, marking a 33% increase. Net interest income was $199.9 million, up 37.3% year-over-year, bolstered by loan growth and rising interest rates. Total assets increased to $18.7 billion, while non-performing loans decreased to 0.61%. A conference call is scheduled for January 26, 2023.
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