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PARENT-ONLY CONDENSED FINANCIAL INFORMATION | 12 Months Ended
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Jun. 30, 2022
Condensed Financial Information Disclosure [Abstract] |
PARENT-ONLY CONDENSED FINANCIAL INFORMATION | PARENT-ONLY CONDENSED FINANCIAL INFORMATION The following tables present Axos Financial, Inc. (Parent company only) financial information and should be read in conjunction with the consolidated financial statements of the Company and the other notes to the consolidated financial statements. Adjustments to investment in subsidiaries, stockholders’ equity and equity in undistributed earnings of subsidiaries have been made to eliminate an intercompany transaction between multiple subsidiaries and the Parent company. CONDENSED BALANCE SHEETS
| At June 30,
(Dollars in thousands) | 2022 |  | 2021
ASSETS |  |  |
Cash and due from banks | $ | 98,640 |  |  | $ | 126,409 |
Investment securities | 14,486 |  |  | 14,985 |
Other assets | 125,235 |  |  | 111,084 |
Investment in subsidiaries | 1,821,818 |  |  | 1,411,950 |
Total assets | $ | 2,060,179 |  |  | $ | 1,664,428 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |
Borrowings, subordinated notes and debentures | $ | 333,744 |  |  | $ | 185,158 |
Accounts payable and accrued liabilities and other liabilities | 83,462 |  |  | 78,334 |
Total liabilities | 417,206 |  |  | 263,492 |
Stockholders’ equity | 1,642,973 |  |  | 1,400,936 |
Total liabilities and stockholders’ equity | $ | 2,060,179 |  |  | $ | 1,664,428 |
CONDENSED STATEMENTS OF INCOME
| Year Ended June 30,
(Dollars in thousands) | 2022 |  | 2021 |  | 2020
Interest income | $ | 1,777 |  |  | $ | 1,262 |  |  | $ | 619 |
Interest expense | 11,183 |  |  | 10,891 |  |  | 4,348 |
Net interest (expense) income | (9,406) |  |  | (9,629) |  |  | (3,729) |
Net interest (expense) income, after provision for credit losses | (9,406) |  |  | (9,629) |  |  | (3,729) |
Non-interest income (loss) | 6,275 |  |  | 217 |  |  | 58 |
Non-interest expense and tax benefit 1 | 9,741 |  |  | 4,360 |  |  | 11,903 |
Income (loss) before dividends from subsidiary and equity in undistributed income of subsidiaries | (12,872) |  |  | (13,772) |  |  | (15,574) |
Dividends from subsidiaries | 40,000 |  |  | 45,000 |  |  | 119,114 |
Equity in undistributed earnings of subsidiaries | 213,588 |  |  | 184,479 |  |  | 79,898 |
Net income | $ | 240,716 |  |  | $ | 215,707 |  |  | $ | 183,438 |
Comprehensive income | $ | 235,276 |  |  | $ | 219,151 |  |  | $ | 182,485 |
1 Includes tax benefits of $11,927, $8,967, and $5,152 for the years ended June 30, 2022, 2021, and 2020, respectively. Axos Financial, Inc. (Parent Company Only) STATEMENT OF CASH FLOWS
| Year Ended June 30,
(Dollars in thousands) | 2022 |  | 2021 |  | 2020
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net income | $ | 240,716 |  |  | $ | 215,707 |  |  | $ | 183,438 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |
Accretion of discounts on securities | 50 |  |  | 48 |  |  | 26 |
Amortization of borrowing costs | 706 |  |  | 1,569 |  |  | 208 |
Accretion of discounts on loans | 56 |  |  | — |  |  | — |
Amortization of operating lease right of use asset | 10,124 |  |  | 9,197 |  |  | 9,079 |
Stock-based compensation expense | 21,242 |  |  | 20,685 |  |  | 21,935 |
Depreciation and amortization | 224 |  |  | — |  |  | — |
Equity in undistributed earnings of subsidiaries | (213,588) |  |  | (184,479) |  |  | (79,898) |
Decrease (increase) in other assets | (5,231) |  |  | (25,835) |  |  | (79,227) |
Increase (decrease) in other liabilities | (11,564) |  |  | (14,550) |  |  | 72,175 |
Net cash provided by operating activities | 42,735 |  |  | 22,342 |  |  | 127,736 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Purchases of investment securities | — |  |  | — |  |  | (15,301) |
Purchases of loans and leases, net of discounts and premiums | — |  |  | — |  |  | (59,391) |
Proceeds from principal repayments on loans | — |  |  | — |  |  | 10 |
Purchases of furniture, equipment, software and intangibles | (817) |  |  | (457) |  |  | — |
Investment in subsidiaries | (203,086) |  |  | (7,200) |  |  | (10,130) |
Net cash used in investing activities | (203,903) |  |  | (7,657) |  |  | (84,812) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Tax payments related to the settlement of restricted stock units | (14,481) |  |  | (10,648) |  |  | (7,457) |
Repurchase of treasury stock | — |  |  | (16,757) |  |  | (38,858) |
Net (repayment) proceeds of other borrowings | — |  |  | (51,000) |  |  | — |
Payments of debt issuance costs | (2,120) |  |  | (2,748) |  |  | — |
Proceeds from issuance of subordinated notes | 150,000 |  |  | 175,000 |  |  | — |
Redemption of preferred stock, Series A | — |  |  | (5,150) |  |  | — |
Cash dividends on preferred stock | — |  |  | (103) |  |  | (386) |
Net cash provided by (used in) financing activities | 133,399 |  |  | 88,594 |  |  | (46,701) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (27,769) |  |  | 103,279 |  |  | (3,777) |
CASH AND CASH EQUIVALENTS—Beginning of year | 126,409 |  |  | 23,130 |  |  | 26,907 |
CASH AND CASH EQUIVALENTS—End of year | $ | 98,640 |  |  | $ | 126,409 |  |  | $ | 23,130 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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