Axos Financial, Inc. (NYSE: AX)

Axos Financial, Inc., often referred to as Axos Bank, is a diversified financial services company operating in the banking and securities industries. With approximately $20.3 billion in assets and $34.8 billion in assets under custody and/or administration at Axos Clearing LLC, the company is a significant player in the financial sector.

Axos Financial, Inc. is engaged in various business activities, primarily in the Banking Business and Securities Business segments. The Banking Business segment offers a range of banking services, including online banking, concierge banking, and mortgage, vehicle, and unsecured lending. These services generate non-interest income for the company through fees from loans originated for sale, deposit account service fees, prepayment fees, and technology and payment transaction processing fees. Axos Bank distributes its deposit and lending products through various channels, including online, low-cost distribution channels, affinity groups, commercial banking divisions, and commission-based lending sales forces.

The Securities Business segment offers securities products and services to independent registered investment advisors (RIAs) and introducing broker-dealers (IBDs) through Axos Clearing and Axos Advisor Services. The company generates interest and fee income by providing comprehensive securities custody services to RIAs and clearing, stock lending, and margin lending services to IBDs.

Axos Financial, Inc. has a diverse loan portfolio, with a weighted-average loan-to-value (LTV) ratio of 47.0% for real estate loans originated during the fiscal year ended June 30, 2