Axos Financial, Inc. Reports Third Quarter Fiscal Year 2026 Results

Axos Financial, Inc. announced its unaudited financial results for the third fiscal quarter ended March 31, 2026. The company reported a net income of $124.7 million and diluted earnings per share (EPS) of $2.15, an increase from the $105.2 million net income and $1.81 diluted EPS in the same quarter of the previous year. Net interest income rose by 11.2% to $306.3 million, driven by strong loan growth and expense management. Non-interest income saw a significant increase of 157.7% to $86.0 million, boosted by a one-time $22.0 million legal settlement and contributions from the Verdant acquisition. Total assets grew to $29.2 billion, with loans increasing to $25.0 billion. Deposits also increased to $22.4 billion. The company highlighted strong performance in real estate and structured credit loans, with low non-performing assets. The provision for credit losses was $41.0 million, up from $14.5 million in the prior year, attributed to loan growth and increased reserves. Non-interest expense increased due to higher depreciation, amortization, and administrative costs, largely related to the Verdant acquisition.