The following is a summary of the Axos Financial, Inc. (AX) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Axos Financial reported a 23% year-over-year growth in earnings per share, and a 51% increase for the full year.

• Net income for Q4 2024 grew by 20% year-over-year to approximately $105 million.

• Net interest margin increased to 4.65% for Q4 2024, up 46 basis points year-over-year.

• The company repurchased $13.2 million of common stock in Q4 and $97 million over the fiscal year, with an average share price of $48 and $38.18 respectively.

Business Progress:

• Axos Financial continued its growth with a 16.9% year-over-year increase in ending loan balances, totaling $19.2 billion.

• The company experienced strong growth in deposits, increasing by approximately $256 million in Q4 and $2.2 billion over the fiscal year.

• Axos Financial strategically managed its loan portfolio, including reducing exposure in certain lending categories to manage interest rate and credit risk.

Opportunities:

• Axos Financial is leveraging its multifamily and commercial real estate lending to grow its loan portfolio, particularly with a focus on conservatively structured loans with compelling deposits.

• The company's investments in technology and operational systems are intended to improve efficiency and customer engagement, potentially leading to further growth in its business verticals.

Risks:

• Competitive pressures and tighter spreads are making loan growth and maintaining high yields more challenging, requiring strategic management of loan and deposit portfolios to maintain profitability.

More details: Axos Financial IR

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