Axus

Axos Bank Listed Among the Best Business Checking Accounts by Forbes Advisor

Retrieved on: 
Monday, February 12, 2024
Finance, Business, Banking, Professional Services, Small Business, Axos Bank, ATM, Small business, Axus, Senior, Axos Financial

Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX), was named in Forbes Advisor’s “Best Business Checking Accounts of February 2024.” Axos ranked in the top banks for Best QuickBooks Compatibility.

Key Points: 
  • Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX), was named in Forbes Advisor’s “Best Business Checking Accounts of February 2024.” Axos ranked in the top banks for Best QuickBooks Compatibility.
  • Forbes Advisor compared 50 checking accounts at 20 banks and credit unions to find the best business checking accounts available.
  • Forbes Advisor also focused on checking accounts that are nationally available to small businesses.
  • “While other banks charge for basic services, our Basic Business Checking accounts have zero monthly maintenance fees, no minimum balance requirement, and free incoming domestic wires,” said Tim Chung, Senior Vice President, Head of Retail Banking and Lending at Axos Bank.

Babcock & Wilcox Enterprises Announces New $150 Million Senior Secured Credit Facility; Reaffirmed Credit Rating of BB+

Retrieved on: 
Monday, January 22, 2024
Utilities, Environment, Oil, Gas, Coal, Alternative Energy, Energy, Nuclear, Senior, Credit, Egan-Jones Ratings Company, PNC Financial Services, B&W, Axos Bank, PNC, Axus, The Company, Growth, Security (finance)

Letters of credit issued under the previous facility with PNC are expected to transition to the Axos facility over the next several months.

Key Points: 
  • Letters of credit issued under the previous facility with PNC are expected to transition to the Axos facility over the next several months.
  • B&W also announced that the Company and its Senior Unsecured Notes (NYSE: “BWSN” and “BWNB”) have received a reaffirmed credit rating of “BB+” from the Egan-Jones Ratings Company.
  • The credit rating follows a comprehensive review and takes into consideration current market conditions.
  • “The reaffirmation of our credit rating and our new Senior Secured Credit facility reflect the stability of our business model and our continued commitment to our long-term growth capabilities.”

Axos Closes Purchase of Two Loan Portfolios from the FDIC

Retrieved on: 
Thursday, December 7, 2023
Banking, Professional Services, Finance, FDIC, Axus

“We believe that we purchased these performing loans at an attractive valuation that will be accretive to our net interest margin and net interest income,” said Greg Garrabrants, President and CEO of Axos.

Key Points: 
  • “We believe that we purchased these performing loans at an attractive valuation that will be accretive to our net interest margin and net interest income,” said Greg Garrabrants, President and CEO of Axos.
  • “We performed extensive due diligence and valuation analysis on each of the properties in the acquired loan pools.
  • The most recent appraisals received from the FDIC indicated that the weighted average loan-to-value is approximately 59%.
  • All 58 loans are current on principal and interest payments.

Axos Announces the Election of Sara Wardell-Smith as an Independent Member of the Board of Directors

Retrieved on: 
Wednesday, November 29, 2023
Banking, Professional Services, Finance, NYSE, Axos Financial, AX, Axos Bank, CLS Group, Wells Fargo, Management, Revolut, Axus, Visa

Axos Financial, Inc. (NYSE: AX) (“Axos” or the “Company”) announces the election of Sara Wardell-Smith as an independent director of the Board of Directors of the Company and the Board of Directors of Axos Bank, effective December 1, 2023.

Key Points: 
  • Axos Financial, Inc. (NYSE: AX) (“Axos” or the “Company”) announces the election of Sara Wardell-Smith as an independent director of the Board of Directors of the Company and the Board of Directors of Axos Bank, effective December 1, 2023.
  • Ms. Wardell-Smith has extensive experience in wholesale banking, global payments, fintech partnerships and board service.
  • “On Axos’ behalf, I would like to extend a warm welcome to Sara,” said Paul Grinberg, Chairman of the Board of Directors.
  • “I’m delighted to join a dynamic and diverse board,” stated Sara Wardell-Smith, new director of Axos.

Axos Advisor Services Expands Alternative Investment Capabilities with Crystal Capital Partners

Retrieved on: 
Tuesday, October 31, 2023
Growth, Investment, Organization, Partnership, Crystal, Axus, RIAS, Financial adviser

MIAMI, Oct. 31, 2023 /PRNewswire/ -- Crystal Capital Partners, a wealth-tech provider and leading turn-key alternative investment platform for financial advisors, announced today a strategic partnership with Axos Advisor Services, a prominent provider of comprehensive custody and securities clearing services to registered investment advisors (RIAs) and independent broker-dealers.

Key Points: 
  • MIAMI, Oct. 31, 2023 /PRNewswire/ -- Crystal Capital Partners, a wealth-tech provider and leading turn-key alternative investment platform for financial advisors, announced today a strategic partnership with Axos Advisor Services, a prominent provider of comprehensive custody and securities clearing services to registered investment advisors (RIAs) and independent broker-dealers.
  • As such, we are excited to partner with Axos Advisor Services," said Steven Brod, Chief Executive Officer of Crystal Capital Partners.
  • Axos Advisor Services has emerged as a distinguished registered investment advisor custodian dedicated to supporting RIAs and independent financial advisors.
  • Robert Hellman, VP, Offer Strategy & Client Experience of Axos Advisor Services stated: "We are thrilled to partner with Crystal Capital Partners, a leader in alternative investments for financial advisors.

Axos Financial, Inc. Reports First Quarter Fiscal 2024 Results

Retrieved on: 
Thursday, October 26, 2023
Banking, Professional Services, Finance, Advertising, Sale, FDIC, Share repurchase, Acquisition, Webcast, Bank, Cryptocurrency, Beauty salon, Rare-earth element, Axus

“Our net interest margin increased 17 basis points linked quarter and 10 basis points year-over-year, as we continue to offset rising deposit costs with higher loan yields.

Key Points: 
  • “Our net interest margin increased 17 basis points linked quarter and 10 basis points year-over-year, as we continue to offset rising deposit costs with higher loan yields.
  • The provision for credit losses was $7.0 million for the three months ended September 30, 2023, compared to $8.8 million for the three months ended September 30, 2022.
  • Stockholders’ equity increased by approximately $59.0 million, or 3.1%, to $2.0 billion at September 30, 2023 from $1.9 billion at June 30, 2023.
  • The conference call will be webcast live, and both the webcast and the earnings supplement may be accessed at Axos’ website, investors.axosfinancial.com .

Axos Financial, Inc. Announces 52% Growth in Diluted EPS to $1.46

Retrieved on: 
Thursday, July 27, 2023
Banking, Professional Services, Finance, Webcast, Sale, Growth, Advertising, Bank, FDIC, Risk, Axos Financial, Cryptocurrency, Pharmaceutical industry, Real estate, Security (finance), Axus

Earnings per diluted share was $5.07, an increase of $1.10, or 27.7%, as compared to earnings per diluted share of $3.97 for the year ended June 30, 2022.

Key Points: 
  • Earnings per diluted share was $5.07, an increase of $1.10, or 27.7%, as compared to earnings per diluted share of $3.97 for the year ended June 30, 2022.
  • “Double-digit growth in net interest income and a net interest margin above the high end of our long-term target were the primary contributors to our strong results.
  • “Even without these non-recurring benefits, our earnings per diluted share results would represent year-over-year growth of 44%.
  • The conference call will be webcast live and both the webcast and the earnings supplement may be access at Axos’ website, http://www.axosfinancial.com .

Axos Financial, Inc. to Announce Fiscal Fourth Quarter 2023 Results on July 27, 2023

Retrieved on: 
Wednesday, June 28, 2023
Banking, Professional Services, Interest, NYSE, AX, Axos Bank, Axos Financial, Finance, Axus

Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”), parent of Axos Bank, announced today that it will host a conference call on Thursday, July 27, 2023 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the fourth quarter of fiscal 2023 ended June 30, 2023.

Key Points: 
  • Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”), parent of Axos Bank, announced today that it will host a conference call on Thursday, July 27, 2023 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the fourth quarter of fiscal 2023 ended June 30, 2023.
  • Joining Greg Garrabrants, President and Chief Executive Officer of Axos on Axos’ fourth quarter 2023 earnings call will be Derrick Walsh, Executive Vice President and Chief Financial Officer, and Andrew Micheletti, Executive Vice President, Finance.
  • The Company plans to distribute its earnings results on Thursday, July 27, 2023 after 4:00 PM ET (1:00 PM PT).
  • Interested parties may access the live conference call by visiting Axos Financial’s website at investors.axosfinancial.com and clicking on the webcast link or by dialing toll-free number 877-407-8293.

Axos Financial, Inc. Reports Fiscal Third Quarter 2023 Results

Retrieved on: 
Thursday, April 27, 2023
Banking, Professional Services, Finance, Advertising, W Holding Company, FDIC, Sale, Federal funds, Risk, Webcast, Growth, Security (finance), Bank, Holding company, Cryptocurrency, Real estate, Axus

“We had another strong quarter, with double-digit year-over-year growth in deposits, net interest income and book value per share,” stated Greg Garrabrants, President and Chief Executive Officer of Axos.

Key Points: 
  • “We had another strong quarter, with double-digit year-over-year growth in deposits, net interest income and book value per share,” stated Greg Garrabrants, President and Chief Executive Officer of Axos.
  • “Axos Securities continues to benefit from rising interest rates, as reflected in the 166% year-over-year increase in broker-dealer fee income and the $19.5 million pretax income this quarter.
  • The Bank’s common equity tier 1 capital ratio was 11.55% at March 31, 2023 compared to 11.28% at December 31, 2022.
  • The conference call will be webcast live, and both the webcast and the earnings supplement may be accessed at Axos’ website, investors.axosfinancial.com.

Axos Financial, Inc. to Announce Fiscal Third Quarter 2023 Results on April 27, 2023

Retrieved on: 
Tuesday, April 4, 2023
Banking, Asset Management, Professional Services, Finance, Federal Home Loan Banks, Interest, NYSE, AX, FDIC, FHLB, Axos Bank, Axos Financial, Sale, Cryptocurrency, Bank, Axus

Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”), parent of Axos Bank, announced today that it will host a conference call on Thursday, April 27, 2023 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the third quarter of fiscal 2023 ended March 31, 2023.

Key Points: 
  • Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”), parent of Axos Bank, announced today that it will host a conference call on Thursday, April 27, 2023 at 5:00 PM ET (2:00 PM PT) to discuss financial results for the third quarter of fiscal 2023 ended March 31, 2023.
  • The Company also provided certain preliminary financial results for the three months ended March 31, 2023.
  • The Company plans to distribute its earnings results on Thursday, April 27, 2023 after 4:00 PM ET (1:00 PM PT).
  • Interested parties may access the live conference call by visiting Axos Financial’s website at investors.axosfinancial.com and clicking on the webcast link or by dialing toll-free number 877-407-8293.