Axos Financial (NYSE: AX) details $47.8B custody arm and digital bank scale
Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
10-K
Rhea-AI Filing Summary
Axos Financial, Inc. (AX) files its annual report describing a technology-driven, diversified financial services business operating through banking and securities segments. The company reports approximately $30.0 billion in assets and about $47.8 billion of assets under custody and/or administration at Axos Clearing.
The banking segment offers nationwide digital consumer and commercial deposit products and a broad loan portfolio spanning single-family, multifamily, commercial real estate, commercial & industrial, auto and other consumer loans, and an available-for-sale securities portfolio for liquidity and interest-rate risk management. Deposits are sourced primarily through online, affinity, commercial and software-driven channels rather than branches.
The securities segment, via Axos Clearing, Axos Advisor Services and Axos Invest, provides clearing, custody, margin lending, securities lending, and digital investing, generating both fee and interest income and supplying low-cost deposits. Axos and its bank subsidiary are well-capitalized, heavily regulated by the Federal Reserve, OCC, FDIC, CFPB, SEC and FINRA, and subject to extensive risk factors including interest-rate sensitivity, macroeconomic and real-estate concentration risks, regulatory and compliance burdens, and technology, cybersecurity and operational risks.
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