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SEGMENT REPORTING | 9 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING There are no material inter-segment sales or transfers. The accounting policies used by each reportable segment are the same as those discussed in Note 1 - “Organizations and Summary of Significant Accounting Policies” in our Annual Report on Form 10-K for the year ended June 30, 2021. All costs, except certain corporate administration costs and income taxes, have been allocated to the reportable segments. Therefore, combined amounts agree to the unaudited condensed consolidated totals. In order to reconcile the two segments to the unaudited condensed consolidated totals, the Company includes parent-only activities and intercompany eliminations. The following tables present the operating results, goodwill, and assets of the segments:
| For the Three Months Ended March 31, 2022
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Net interest income | $ | 147,828 |  |  | $ | 3,377 |  |  | $ | (1,667) |  |  | $ | 149,538 |
Provision for credit losses | 4,500 |  |  | — |  |  | — |  |  | 4,500 |
Non-interest income | 15,741 |  |  | 15,609 |  |  | (2,576) |  |  | 28,774 |
Non-interest expense | 65,076 |  |  | 20,242 |  |  | 1,501 |  |  | 86,819 |
Income before taxes | $ | 93,993 |  |  | $ | (1,256) |  |  | $ | (5,744) |  |  | $ | 86,993 |
| For the Three Months Ended March 31, 2021
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Net interest income | $ | 135,096 |  |  | $ | 3,847 |  |  | $ | (3,274) |  |  | $ | 135,669 |
Provision for credit losses | 2,700 |  |  | — |  |  | — |  |  | 2,700 |
Non-interest income | 16,201 |  |  | 8,369 |  |  | (683) |  |  | 23,887 |
Non-interest expense | 64,040 |  |  | 13,282 |  |  | 3,485 |  |  | 80,807 |
Income before taxes | $ | 84,557 |  |  | $ | (1,066) |  |  | $ | (7,442) |  |  | $ | 76,049 |
| For the Nine Months Ended March 31, 2022
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Net interest income | $ | 432,328 |  |  | $ | 14,059 |  |  | $ | (4,639) |  |  | $ | 441,748 |
Provision for credit losses | 12,500 |  |  | — |  |  | — |  |  | 12,500 |
Non-interest income | 46,864 |  |  | 45,169 |  |  | (5,770) |  |  | 86,263 |
Non-interest expense | 190,250 |  |  | 61,169 |  |  | 5,850 |  |  | 257,269 |
Income before taxes | $ | 276,442 |  |  | $ | (1,941) |  |  | $ | (16,259) |  |  | $ | 258,242 |
| For the Nine Months Ended March 31, 2021
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Net interest income | $ | 390,268 |  |  | $ | 13,002 |  |  | $ | (6,182) |  |  | $ | 397,088 |
Provision for credit losses | 22,500 |  |  | — |  |  | — |  |  | 22,500 |
Non-interest income | 68,708 |  |  | 20,725 |  |  | (973) |  |  | 88,460 |
Non-interest expense | 187,733 |  |  | 35,946 |  |  | 8,971 |  |  | 232,650 |
Income before taxes | $ | 248,743 |  |  | $ | (2,219) |  |  | $ | (16,126) |  |  | $ | 230,398 |
| As of March 31, 2022
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Goodwill | $ | 35,721 |  |  | $ | 59,953 |  |  | $ | — |  |  | $ | 95,674 |
Total Assets | $ | 14,768,636 |  |  | $ | 1,246,997 |  |  | $ | 65,317 |  |  | $ | 16,080,950 |
| As of June 30, 2021
(Dollars in thousands) | Banking Business |  | Securities Business |  | Corporate/Eliminations |  | Axos Consolidated
Goodwill | $ | 35,721 |  |  | $ | 35,501 |  |  | $ | — |  |  | $ | 71,222 |
Total Assets | $ | 12,745,029 |  |  | $ | 1,450,512 |  |  | $ | 70,024 |  |  | $ | 14,265,565 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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