The following is a summary of the Axos Financial, Inc. (AX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Axos Financial reported a net income of $111 million and diluted earnings per share of $1.91, up 38.7% and 45% year-over-year, respectively for Q3 2024.

• The company's tangible book value per share was $35.46 at the end of March 2024, demonstrating a 27% increase from the previous year.

• Axos saw an improvement in net interest margin, raising it to 4.87%, a jump of 32 basis points from the previous quarter and 45 basis points YoY.

• Loans for investments ended at $18.7 billion, marking a 2.6% growth compared to the previous quarter.

Business Progress:

• Axos Financial has been able to maintain a balance in loan originations in commercial non-real estate lending, including asset-based lending and fund financing.

• Transition to a universally user-friendly Digital Bank for the ease of small business banking is underway.

• The company successfully added $900 million in deposits in the third quarter and closed the purchase of two loan portfolios from FDIC with a UPB of $1.25 billion.

• Axos is exploring avenues to extend services such as the robo-advisor for added value to clients while revamping the existing fee structure and enhancing the securities business through increased investments.

More details: Axos Financial IR

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