Q2 2025 Axos Financial Inc Earnings Call Transcript
Key Points
- Axos Financial Inc (AX) reported double-digit year-over-year growth in net interest income and book value per share.
- Ending loan balances increased by 6.7% year over year to $19.5 billion.
- The company achieved a 17% return on average common equity and a 1.7% return on assets for the quarter.
- Net interest income rose by 22.5% compared to the previous year, reaching $280 million.
- Total on-balance sheet deposits grew by 9.5% year over year, supporting organic loan growth.
- Net income decreased to approximately $104 million from $152.8 million in the same period last year.
- Net interest margin declined from 5.17% in the previous quarter to 4.83% in the current quarter.
- Nonperforming assets increased in several loan categories, including single-family jumbo mortgages and multifamily mortgages.
- The company experienced declines in loan balances in certain mortgage categories, such as 5/1 hybrid ARM and multifamily jumbo mortgages.
- Provision for credit losses was $12 million, reflecting concerns over potential economic downturns and loan repricing risks.
Good afternoon and welcome to the Axis Financial second-quarter 2025 earnings call and webcast. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce Johnny Lai, Senior Vice President, Corporate Development, and Investor Relations. Thank you. Johnny, you may begin.
And thanks for your interest in Axos. Joining us today for Axos Financial Inc. second-quarter 2025 financial results conference call are the company's President and Chief Executive Officer, Greg Garrabrants; and Executive Vice President and Chief Financial Officer, Derrick Walsh.
Greg and Derrick will review and comment on the financial and operational results for the three months ended December 31, 2024. And we will be available to answer questions after the prepared remarks.
Before I begin, I would like to remind listeners that prepared remarks made on this call may contain forward-looking statements that are subject
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