Axos Financial, Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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Sep 30, 2026 · Filed Oct 29, 2026
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7. Offsetting of Derivatives and Securities Financing Agreements
- OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS
The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate and foreign exchange risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements”in the 2026 Form 10-K.
The following tables present information about the offsetting of these instruments and related collateral amounts:
| September 30, 2026 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $190,831 | $— | $190,831 | $190,831 | $— | $— |
| Other Assets — Derivative Assets1 | 29,751 | — | 29,751 | 469 | 26,760 | 2,522 |
| Liabilities: | ||||||
| Securities loaned | $238,502 | $— | $238,502 | $238,502 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 75,911 | — | 75,911 | 469 | 3,000 | 72,442 |
| June 30, 2026 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $163,462 | $— | $163,462 | $163,462 | $— | $— |
| Other Assets — Derivative Assets1 | 16,941 | — | 16,941 | 1,297 | 12,040 | 3,604 |
| Liabilities: | ||||||
| Securities loaned | $194,729 | $— | $194,729 | $194,729 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 52,509 | — | 52,509 | 1,104 | 291 | 51,114 |
1 Gross amounts of Other Assets - Derivative Assets are presented net of $83.9 million and $52.3 million of variation margin on centrally-cleared derivatives as of September 30, 2026 and June 30, 2026, respectively.
The Company loans equity securities under securities lending agreements. As of both periods presented, these agreements have an overnight and open maturity classification.
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