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PARENT-ONLY CONDENSED FINANCIAL INFORMATION | 12 Months Ended
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Jun. 30, 2023
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 1
| At June 30,
(Dollars in thousands) | 2023 |  | 2022
ASSETS |  |  |
Cash and cash equivalents | $ | 115,948 |  |  | $ | 98,640 |
Securities | 15,050 |  |  | 14,486 |
Advances to non-bank subsidiaries | 8,000 |  |  | 33,000 |
Other assets | 78,932 |  |  | 92,235 |
Investment in bank subsidiaries | 1,884,525 |  |  | 1,634,185 |
Investment in non-bank subsidiaries | 235,223 |  |  | 187,633 |
Total assets | $ | 2,337,678 |  |  | $ | 2,060,179 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |
Borrowings, subordinated notes and debentures | $ | 334,579 |  |  | $ | 333,744 |
Accounts payable and other liabilities | 85,940 |  |  | 83,462 |
Total liabilities | 420,519 |  |  | 417,206 |
Stockholders’ equity | 1,917,159 |  |  | 1,642,973 |
Total liabilities and stockholders’ equity | $ | 2,337,678 |  |  | $ | 2,060,179 |
CONDENSED STATEMENTS OF INCOME 1
| Year Ended June 30,
(Dollars in thousands) | 2023 |  | 2022 |  | 2021
Interest income | $ | 1,656 |  |  | $ | 1,777 |  |  | $ | 1,262 |
Interest expense | 15,909 |  |  | 11,183 |  |  | 10,891 |
Net interest (expense) income | (14,253) |  |  | (9,406) |  |  | (9,629) |
Net interest (expense) income, after provision for credit losses | (14,253) |  |  | (9,406) |  |  | (9,629) |
Non-interest income (loss) | 11,448 |  |  | 6,275 |  |  | 217 |
Non-interest expense and tax benefit 2 | 15,866 |  |  | 9,741 |  |  | 4,360 |
Income (loss) before dividends from subsidiary and equity in undistributed income of subsidiaries | (18,671) |  |  | (12,872) |  |  | (13,772) |
Dividends from bank subsidiaries | 45,000 |  |  | 40,000 |  |  | 45,000 |
Dividends from non-bank subsidiaries | 13,750 |  |  | — |  |  | — |
Equity in undistributed earnings of subsidiaries | 267,086 |  |  | 213,588 |  |  | 184,479 |
Net income | $ | 307,165 |  |  | $ | 240,716 |  |  | $ | 215,707 |
Comprehensive income | $ | 303,488 |  |  | $ | 235,276 |  |  | $ | 219,151 |
STATEMENTS OF CASH FLOWS 1
| Year Ended June 30,
(Dollars in thousands) | 2023 |  | 2022 |  | 2021
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net income | $ | 307,165 |  |  | $ | 240,716 |  |  | $ | 215,707 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |
Depreciation, amortization and accretion | 12,383 |  |  | 11,160 |  |  | 10,814 |
Stock-based compensation expense | 26,100 |  |  | 21,242 |  |  | 20,685 |
Equity in undistributed earnings of subsidiaries | (267,086) |  |  | (213,588) |  |  | (184,479) |
Decrease (increase) in other assets | (3,448) |  |  | (5,231) |  |  | (25,835) |
Increase (decrease) in other liabilities | (1,069) |  |  | (11,564) |  |  | (14,550) |
Net cash provided by operating activities | 74,045 |  |  | 42,735 |  |  | 22,342 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Proceeds from principal repayments on loans | 25,000 |  |  | — |  |  | — |
Purchases of furniture, equipment, software and intangibles | (805) |  |  | (817) |  |  | (457) |
Investment in subsidiaries | (25,825) |  |  | (203,086) |  |  | (7,200) |
Net cash used in investing activities | (1,630) |  |  | (203,903) |  |  | (7,657) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Tax payments related to the settlement of restricted stock units | (6,144) |  |  | (14,481) |  |  | (10,648) |
Repurchase of treasury stock | (48,963) |  |  | — |  |  | (16,757) |
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) |
Net cash provided by (used in) financing activities | (55,107) |  |  | 133,399 |  |  | 88,594 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 17,308 |  |  | (27,769) |  |  | 103,279 |
CASH AND CASH EQUIVALENTS—Beginning of year | 98,640 |  |  | 126,409 |  |  | 23,130 |
CASH AND CASH EQUIVALENTS—End of year | $ | 115,948 |  |  | $ | 98,640 |  |  | $ | 126,409 |
1 The prior period has been revised to conform to the current period presentation. 2 Includes tax benefits of $11,988, $11,927, and $8,967 for the years ended June 30, 2023, 2022, and 2021, respectively.

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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