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SEGMENT REPORTING AND REVENUE INFORMATION
 6 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING AND REVENUE INFORMATION SEGMENT REPORTING AND REVENUE INFORMATION
Segment Reporting. The operating segments reported below are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer in deciding how to allocate resources and in assessing performance. The operating segments and segment results of the Company are determined based upon the management reporting system, which assigns balance sheet and income statement items to each of the business segments.
The Company evaluates performance and allocates resources based on pre-tax profit or loss from operations. Certain corporate administration costs have not been allocated to the reportable segments. The Company operates through two operating segments: Banking Business Segment and Securities Business Segment. Inter-segment transactions are eliminated in consolidation and primarily include non-interest income earned by the Securities Business Segment and non-interest expense incurred by the Banking Business Segment for cash sorting fees related to deposits sourced from Securities Business Segment
customers. For more information on the Company’s operating segments, see Note 22—“Segment Reporting” in the 2024 Form 10-K.
In order to reconcile the two segments to the consolidated totals, the Company includes corporate activities and intercompany eliminations. The following tables present the operating results, goodwill, and assets of the segments:
For the Three Months Ended December 31, 2024
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$276,720 $7,007 $(3,628)$280,099 
Provision for credit losses12,248 — — 12,248 
Non-interest income2,948 29,004 (4,153)27,799 
Non-interest expense114,536 28,178 2,606 145,320 
Income before taxes$152,884 $7,833 $(10,387)$150,330 
For the Three Months Ended December 31, 2023
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$226,635 $6,080 $(4,109)$228,606 
Provision for credit losses13,500 — — 13,500 
Non-interest income103,779 32,641 (12,291)124,129 
Non-interest expense102,282 27,968 (8,411)121,839 
Income before taxes$214,632 $10,753 $(7,989)$217,396 
For the Six Months Ended December 31, 2024
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$565,212 $14,274 $(7,339)$572,147 
Provision for credit losses26,248 — — 26,248 
Non-interest income11,538 58,906 (14,036)56,408 
Non-interest expense232,851 56,269 3,665 292,785 
Income before taxes$317,651 $16,911 $(25,040)$309,522 
For the Six Months Ended December 31, 2023
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$435,854 $11,622 $(7,715)$439,761 
Provision for credit losses20,500 — — 20,500 
Non-interest income116,336 67,196 (24,896)158,636 
Non-interest expense203,068 55,491 (16,214)242,345 
Income before taxes$328,622 $23,327 $(16,397)$335,552 
As of December 31, 2024
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $59,953 $1,999 $97,673 
Total Assets$22,919,817 $751,415 $38,190 $23,709,422 
As of June 30, 2024
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $59,953 $1,999 $97,673 
Total Assets$22,165,627 $649,254 $40,453 $22,855,334 
Revenue Information. The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Accounting Standards Codification (“ASC”) 606 for the periods indicated. For additional information on the Company’s recognition of revenue and ASC 606, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2024 Form 10-K.
For the Three Months Ended
For the Six Months Ended
 December 31, December 31,
(Dollars in thousands)2024202320242023
Advisory fee income$7,982 $7,362 $15,927 $15,581 
Broker-dealer clearing fees5,706 6,068 10,778 11,603 
Deposit service fees2,537 2,414 3,310 3,094 
Card fees683 732 1,606 1,414 
Bankruptcy trustee and fiduciary service fees1,106 1,397 2,395 2,791 
    Non-interest income (in-scope of ASC 606)18,014 17,973 34,016 34,483 
    Non-interest income (out-of-scope of ASC 606)9,785 106,156 22,392 124,153 
    Total non-interest income$27,799 $124,129 $56,408 $158,636