Company Profile
- Axos Financial, Inc. (NYSE: AX) (“Axos” or “the company”) is a $23.7 billion asset bank holding company for San Diego, CA-based Axos Bank (“the bank”), which operates as a digital, branchless bank. The bank was founded in 2000 and offers an enhanced digital customer experience.
- AX operates three distinct business divisions: consumer banking, commercial banking, and securities (Axos Securities). Axos Securities consists of three subsegments: securities clearing and custody (Axos Clearing), digital wealth and personal financial management (Axos Invest), and self-directed trading (Axos Trading).
- The company’s digital banking strategy has a nationwide reach with both business and consumer product offerings. Leveraging technology at all levels of the operation and forgoing the related costs of a branch-based network allows for better efficiency relative to similarly rated peers.
- The loan portfolio is largely collateralized by real estate and…