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Axos Financial
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Axos Financial Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Apr, 2026
Executive summary
Net income for Q3 2026 was $124.7 million ($2.15 per diluted share), up 18.5% year-over-year, with adjusted earnings of $130.2 million reflecting a $22 million legal settlement and acquisition-related adjustments.
Total assets reached $29.25 billion as of March 31, 2026, up 18%, with total deposits at $22.4 billion.
Strong loan growth across multiple business lines, with total originations for investment at $5.1 billion and a $695 million quarter-over-quarter increase.
Major acquisitions included Verdant Commercial Capital and a San Diego office complex; two large deposit acquisitions (Jenius Bank $2.3B, Capital One $3.2B) are pending or approved.
Non-interest income surged 157.7% year-over-year to $86 million, driven by the legal settlement and Verdant contributions.
Financial highlights
Net interest income was $306.3 million, up 11.2% year-over-year; net interest margin was 4.57%, down from 4.94% prior quarter.
Non-interest expense rose 27% year-over-year to $186 million, mainly due to Verdant-related costs and higher salaries.
Provision for credit losses increased to $41 million, mainly due to loan growth and a $20 million reserve for a C&I loan.
Book value per share was $53.89 and tangible book value per share was $49.72 at March 31, 2026.
Return on average assets was 1.77%; return on average common equity was 16.26%.
Outlook and guidance
Management expects continued growth in loans and deposits, with a focus on integrating recent acquisitions and maintaining strong capital ratios.
Pending deposit acquisitions from Jenius Bank ($2.3B) and Capital One ($3.2B) expected to close in Q4 2026 and later in 2026, providing incremental liquidity and funding.
Expect low-to-mid teens annual loan growth, excluding acquisitions; NIM expected to remain roughly flat, excluding deposit purchase premium impact.
Annual tax rate guidance of 26%-27%, excluding tax credit benefits.
Continued focus on expense discipline and operational efficiencies.
Factors behind the 37 bps NIM compression
Reasons for C&I Non-RE non-accrual increase
Drivers for $437M Capital Call Facilities growth
Deposit optimization ahead of Jenius acquisition
Drivers of the specific C&I credit reserve
Verdant acquisition impact on non-interest items
Funding strategy for Jenius and Capital One deals
Status of the nonperforming C&I syndicated loan
Impact of AI on code commitment and productivity
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Axos Financial
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Next Axos Financial earnings date
Q4 202629 Jul, 2026
Axos Financial
Next Axos Financial earnings date
Q4 202629 Jul, 2026
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