{{Short description|American Bank holding company}} {{Infobox company | name = Axos Financial, Inc. | logo = Axos_Financial_Inc_Logo_Color.svg | caption = | type = Public | traded_as = {{NYSE|AX}}<br>S&P 600 component<br>Russell 2000 component | industry = Financial services | foundation = {{start date and age|1999|07|06}} | hq_location = Las Vegas, Nevada | key_people = Gregory Garrabrants, President & CEO<BR>Andrew J. Micheletti, CFO | products = Online banking | net_income = {{decrease}} $432 million (FY 2025) | assets = {{increase}} $24.783 billion (FY 2025) | equity = {{increase}} $2.680 billion (FY 2025) | owner = Gregory Garrabrants (2.89%) | num_employees = 1,989 (2025) | homepage = {{URL|https://investors.axosfinancial.com/corporate-profile/default.aspx}} | footnotes = <ref name=revolutionized/><ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001299709/000129970925000125/ax-20250630.htm | title=AXOS FINANCIAL, INC. 2025 Form 10-K Annual Report For the fiscal year ended June 30, 2024 | publisher=U.S. Securities and Exchange Commission | date=August 21, 2025}}</ref><ref>{{Cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001299709/000129970924000193/ax-20240925.htm | title=Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 | publisher=U.S. Securities and Exchange Commission | date=September 25, 2024}}</ref> }}
'''Axos Financial, Inc.''' is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank on the list of largest banks in the United States. It also offers registered investment adviser services and an electronic trading platform.<ref name=10K/>
==History== Axos was founded in 1999 as BofI Holding, Inc., by Jerry Englert, the founder of Bank of Del Mar, and Gary Lewis Evans, president of La Jolla Bank, with $14 million of startup capital.<ref>{{cite news | url=https://www.sandiegouniontribune.com/obituaries/sdut-jerry-englert-internet-bank-obituary-2014jun27-story.html | title=Jerry Englert, 73, cofounded Internet-only bank | first=Christine | last=Huard | work=The San Diego Union-Tribune | date=March 14, 2005}}</ref> It began operations as Bank of Internet on July 4, 2000.<ref name=10K/> The start date of July 4 was purposely chosen because it showed that the bank would be open on a day that other banks were closed due to Independence Day and because the internet bank represented "Independence from traditional banking".<ref name=revolutionized>{{Cite news | url=https://www.fool.com/investing/general/2014/07/22/how-bofi-holding-revolutionized-the-banking-indust.aspx | title=How BofI Holding, Inc. Revolutionized the Banking Industry Almost 20 Years Ago | last=Naake | first=Spencer | work=The Motley Fool | date=July 22, 2014}}</ref>
BofI became a public company via an initial public offering on March 15, 2005. It offered 3,052,745 shares of common stock at a price of $11.50 per share.<ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1299709/000095012905002416/a01836b4e424b4.htm | title=B of I Holding, Inc. Prospectus | publisher=U.S. Securities and Exchange Commission | date=March 14, 2005}}</ref>
Gregory Garrabrants, previously senior vice president at IndyMac Bancorp, was appointed CEO in October 2007.<ref>{{Cite news |url=https://www.reuters.com/article/biholding-ceo-idUSWNAS770620071023/ |title=BofI Holding names new CEO | first=Sweta | last=Singh | work=Reuters |date=October 23, 2007}}</ref> In 2018, Garrabrants earned $34.5 million, making him the highest paid bank CEO of that year.<ref>{{Cite news |url=https://www.bloomberg.com/news/articles/2019-04-11/ceo-of-tiny-california-bank-makes-twice-as-much-as-jamie-dimon |title=CEO of Tiny California Bank Makes Twice as Much as Jamie Dimon | first1=Anders | last1=Melin | first2=Michelle | last2=Kim |work=Bloomberg News | date=April 11, 2019 | url-access=subscription}}</ref>
On October 1, 2018, BofI Holding re-branded as Axos Financial, and switched its stock exchange listing from NASDAQ to the NYSE. Bank of Internet was rebranded as Axos Bank.<ref>{{cite press release | url=https://www.axosbank.com/about-us/press-and-news/bofi-holding-inc-is-now-axos-financial-inc | title=BofI Holding, Inc. is Now Axos Financial, Inc. | publisher=Business Wire | date=September 12, 2018}}</ref><ref>{{Cite news | url=https://www.americanbanker.com/news/bofi-in-calif-to-rebrand-its-bank-most-products | title=BofI in Calif. to rebrand its bank, most products | first=Paul | last=Davis | work=American Banker | date=August 27, 2018 | url-access=subscription}}</ref>
===Acquisitions=== {| class="wikitable sortable" |- ! scope="col" | # ! scope="col" | Date ! scope="col" | Assets ! scope="col" class="unsortable" | Ref(s). |- | 1 | {{dts|2013|9}} | $173 million in deposits from Principal Bank | <ref>{{cite press release | url=https://finance.yahoo.com/news/bofi-federal-bank-completes-173-142810302.html | title=BofI Federal Bank Completes $173 Million Deposit Acquisition From Principal Bank | publisher=Marketwired | via=Yahoo Finance | date=September 9, 2013}}</ref> |- | 2 | {{dts|2015|9}} | Bank unit of H&R Block | <ref>{{cite press release | url=https://finance.yahoo.com/news/bofi-federal-bank-completes-deposit-200649997.html | title=BofI Federal Bank Completes Deposit Transaction With H&R Block | publisher=Marketwired | via=Yahoo Finance | date=September 1, 2015}}</ref><ref>{{cite press release | url=https://finance.yahoo.com/news/bank-internet-usa-launches-individual-140000998.html| title=Bank of Internet USA Launches Individual Retirement Accounts (IRAs) Through H&R Block Partnership | publisher=Marketwired | via=Yahoo Finance | date=January 13, 2016}}</ref> |- | 3 | {{dts|2016|3}} | $140 million of equipment leases from Pacific Western Equipment Finance | <ref>{{cite press release | url=https://www.sec.gov/Archives/edgar/data/1299709/000129970916000227/ex-991pressrelease20160331.htm | title=BofI Holding, Inc. Announces Acquisition of Equipment Leases and Operations of Pacific Western Equipment Finance | publisher=Marketwired | date=April 4, 2016}}</ref> |- | 4 | {{dts|2018|11}} | $3 billion in deposits and 40,000 customers from Nationwide Bank | <ref>{{Cite press release | url=https://www.sec.gov/Archives/edgar/data/1299709/000129970918000138/ex99120181119compnationwid.htm | title=Axos Bank Closes Nationwide Bank Deposit Acquisition | publisher=Business Wire | date=November 19, 2018}}</ref><ref>{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/1oxljrru27eczy7mpeebww2 | title=Axos Bank enters strategic relationship with Nationwide | first=Hailey | last=Ross | work=S&P Global | date=October 24, 2018}}</ref> |- | 5 | {{dts|2019|1}} | COR Clearing LLC (rebranded as Axos Clearing) | <ref>{{cite press release | url=https://www.sec.gov/Archives/edgar/data/1299709/000129970919000002/ex99120190129compcor.htm | title=Axos Financial, Inc. Closes COR Clearing LLC Acquisition | publisher=Business Wire | date=January 29, 2019}}</ref> |- | 6 | {{dts|2019|3}} | WiseBanyan (rebranded as Axos Invest) | <ref>{{Cite press release | url=https://investors.axosfinancial.com/news-events/press-releases/news-details/2019/Axos-Financial-Inc.-Completes-WiseBanyan-Acquisition/default.aspx | title=Axos Financial, Inc. Completes WiseBanyan Acquisition | publisher=Business Wire | date=March 4, 2019}}</ref><ref>{{cite press release | url=https://investors.axosfinancial.com/news-events/press-releases/news-details/2019/Axos-Financial-rebrands-its-WiseBanyan-subsidiary-as-Axos-Invest/default.aspx | title=Axos Financial rebrands its WiseBanyan subsidiary as Axos Invest | publisher=Business Wire | date=October 9, 2019}}</ref> |- | 7 | {{dts|2019|3}} | $175 million in deposits from MWABank | <ref>{{Cite news | url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/_Bs5EmmdXjJ6mQ-rk8syqA2 | title=Axos Bank closes acquisition of $175M deposits from MWABank | first=Dave | last=Guilas | work=S&P Global | date=March 26, 2019 | archive-url=https://web.archive.org/web/20201029173524/https://www.spglobal.com/marketintelligence/en/news-insights/trending/_bs5emmdxjj6mq-rk8syqa2 | archive-date=October 29, 2020 |url-status=live}}</ref> |- | 8 | {{dts|2021|8}} | E*TRADE Advisor Services (rebranded as Axos Advisor Services) | <ref>{{cite press release | url=https://www.nasdaq.com/press-release/axos-financial-inc.-closes-etrade-advisor-services-acquisition-2021-08-02 | title=Axos Financial, Inc. Closes E*TRADE Advisor Services Acquisition | publisher=Business Wire | date=August 2, 2021}}</ref> |- | 9 | {{dts|2023|8}} | Marine finance business of Bank of Clarke | <ref>{{Cite web | url=https://contracts.justia.com/companies/eagle-financial-services-inc-7521/contract/1250772/ | title=Loan Purchase and Sale Agreement, by and between Bank of Clarke and Axos Bank, dated as of August 23, 2023 (exhibits omitted) | publisher=Justia | date=August 23, 2023}}</ref> |- | 10 | {{dts|2023|12}} | Two loans from the FDIC previously owned by Signature Bank (unpaid principal balance of $1.253 billion; cost of 63% of par value) | <ref>{{cite news | url=https://finance.yahoo.com/news/axos-financial-ax-buys-cre-112900055.html | title=Axos Financial (AX) Buys CRE Loans From the FDIC, Stock Jumps | work=Yahoo Finance | date=December 11, 2023}}</ref><ref>{{Cite news | url=https://www.costar.com/article/52906458/two-more-buyers-emerge-for-signature-banks-property-loans | title=Two More Buyers Emerge for Signature Bank's Property Loans | first=Mark | last=Heschmeyer | work=CoStar Group | date=December 15, 2023}}</ref> |- |11 |September 2025 |Verdant Commercial Capital, an equipment leasing firm; price was $43.5 million |<ref>{{Cite news | url=https://www.bankingdive.com/news/axos-acquires-industrial-equipment-lender/760886/ | title=Axos acquires industrial equipment lender | first=Gabrielle | last=Saulsbery | work=Industry Dive | date=September 23, 2025}}</ref> |}
== Lending practices == The bank has made larger loans to wealthy individuals that other banks have turned down, albeit at higher interest rates.<ref>{{cite news | url=https://www.nytimes.com/2015/08/23/business/a-internet-mortgage-provider-reaps-the-rewards-of-lending-boldly.html | title=An Internet Mortgage Provider Reaps the Rewards of Lending Boldly | last=Eavis| first=Peter | work=The New York Times| date=August 22, 2015 | url-access=limited}}</ref>
The company made a total of $400 million in loans to Donald Trump and is one of his largest lenders.<ref name=backers>{{Cite news | url=https://www.theguardian.com/us-news/2025/jan/13/axos-financial-us-bank-donald-trump-don-hankey | title=Axos Financial: how the US bank became one of Trump’s biggest backers | first=Kalyeena | last=Makortoff | work=The Guardian | date=January 13, 2025}}</ref> In March 2022, Axos funded a $100 million mortgage loan secured by Trump Tower.<ref>{{cite news |last=McKnight | first=Patricia |title=Virtual Bank Loans Trump $100M After Firm Warned of 'Unreliable' Finances | url=https://www.newsweek.com/virtual-bank-loans-trump-100m-after-firm-warned-unreliable-finances-1686622 | work=Newsweek | date=March 9, 2022}}</ref><ref>{{cite news |last1=Everson |first1=Zach |title=Checks & Imbalances: Trump's $100 Million Loan, Fortenberry Heads To Court |url=https://www.forbes.com/sites/zacheverson/2022/03/11/checks--imbalances-trumps-100-million-loan-fortenberry-heads-to-court/ | work=Forbes | date=March 11, 2022}}</ref> The company also financed Trump National Doral Miami.<ref name=backers/>
As of June 30, 2025, approximately 28.7% of the company's loans were secured by properties in Southern California, 7.1% were secured by properties in Northern California, 28.2% were secured by properties in New York, 12.0% were secured by properties in Florida, and 5.5% were secured by properties in Texas.<ref name=10K/>
==References== {{Reflist}}
==External links== * {{Official website|https://investors.axosfinancial.com/corporate-profile/}} * [https://www.axosbank.com/ Axos Bank Home Page] {{Finance links | name = Axos Financial, Inc. | google = AX | reuters = AX | sec_cik = AX | yahoo = AX }}
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Category:1999 establishments in Nevada Category:2005 initial public offerings Category:American companies established in 1999 Category:Banks based in Nevada Category:Banks established in 1999 Category:Companies based in Las Vegas Category:Companies formerly listed on the Nasdaq Category:Companies listed on the New York Stock Exchange