Axos Financial reports Q2 adjusted EPS $1.60, consensus $1.39

“Our record second quarter earnings were driven by strong organic loan and deposit growth, further net interest margin expansion, disciplined expense management and a gain associated with an opportunistic loan purchase from the FDIC,” stated Greg Garrabrants, President and Chief Executive Officer of Axos. “Excluding the one-time gain and the provision for credit losses associated with the FDIC Loan Purchase, diluted EPS was up 15.7% year-over-year. Our strong returns, margins and excess capital provide us with flexibility to allocate capital to opportunities where we see the best risk-adjusted returns.” Net interest margin was 4.55% for the quarter ended December 31, 2023 compared to 4.49% for the quarter ended December 31, 2022.