Axos Financial, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
13. Other Assets
- OTHER ASSETS
“Other Assets” in the Consolidated Balance Sheets primarily comprises bank-owned life insurance (“BOLI”), accrued interest receivable, derivatives, net deferred income tax assets, furniture, equipment and software, right-of-use lease assets, LIHTC investments and other receivables. For additional information on other assets, see Note 9—“Other Assets” in the 2025 Form 10-K. For additional information on accrued interest receivable, see Note 5—“Loans & Allowance for Credit Losses,” and for additional information on derivatives, see Note 6—“Derivatives.”
LIHTC Investments. The Company recognized the following income and tax benefits for its LIHTC investments.
| For the Three Months Ended September 30, | ||
|---|---|---|
| (Dollars in thousands) | 2025 | 2024 |
| Tax credits recognized | $2,282 | $1,420 |
| Other tax benefits recognized | 1,090 | 312 |
| Amortization | (2,564) | (1,406) |
| Net benefit (expense) included in income tax expense | 808 | 326 |
| Other income (loss) included in banking and service fees | 9 | — |
| Net benefit (expense) included in the Consolidated Statements of Income | $817 | $326 |
The Company recognized the following investments on its balance sheets.
| (Dollars in thousands) | As of September 30, 2025 | As of June 30, 2025 |
|---|---|---|
| LIHTC investments | $82,311 | $84,875 |
| LIHTC unfunded commitments1 | $43,555 | $47,381 |
1 LIHTC unfunded commitments are included in “Accounts Payable and Other Liabilities” on the Consolidated Balance Sheets.
For the three months ended September 30, 2025 and 2024, there have been no significant modifications or events that resulted in the change in the nature of the LIHTC investments or any changes in the relationship with the underlying project.
For the three months ended September 30, 2025 and 2024, there has been no impairment loss recognized from the forfeiture or ineligibility of income tax credits.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.