2024 Overview
General Bank Information
Axos Bank is an FDIC insured institution located in San Diego, CA. It was founded in 2000 and has approximately $20.75 billion in assets. Customers can open an account at one of its 2 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 35546 |
| Date Established | 2000 |
| Assets | $ 20.75 billion |
| Loans | $ 17.43 billion |
| Deposits | $ 18.30 billion |
| Capital | $ 2.08 billion |
For a more detailed analysis of Axos Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 19, 2024
Your Current Location: Ohio, OH 43085
Online Only Savings Rates of UFB Direct, a division of Axos Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Savings
|
5.25% | $1 | - |
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|
Online Only CD Rates of Axos Bank, a division of Bofi Federal Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 Month CD
|
0.20% | $1,000 | - |
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|
| 6 Month CD
|
0.20% | $1,000 | - |
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|
| One Year CD
|
0.20% | $1,000 | - |
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|
| 24 Month CD
|
0.20% | $1,000 | - |
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|
| 36 Month CD
|
0.20% | $1,000 | - |
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|
| 48 Month CD
|
0.20% | $1,000 | - |
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|
| 60 Month CD
|
0.20% | $1,000 | - |
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|
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Rewards Checking | 3.30% | $0 | $0.00 | Learn More |
Bank Online Offers
Loan Rates - April 19, 2024
Your Current Location: Ohio, OH 43085
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 5 Year Fixed Adjustable See Amortization Table |
7.38% | 6.75% | $6,298.71 | |
| 5 Year Adjustable Conforming See Amortization Table |
8.50% | 8.00% | $2,348.05 | |
| 5 Year Adjustable Jumbo See Amortization Table |
8.48% | 8.00% | $2,348.05 | |
| 15 Year Fixed Jumbo See Amortization Table |
7.77% | 7.75% | $3,012.08 | |
| 15 Year Fixed Conforming See Amortization Table |
7.92% | 7.88% | $3,035.96 | |
| 20 Year Fixed Jumbo See Amortization Table |
8.39% | 8.38% | $2,752.78 | |
| 20 Year Fixed Conforming See Amortization Table |
8.41% | 8.38% | $2,752.78 | |
| 30 Year Fixed Jumbo See Amortization Table |
8.39% | 8.38% | $2,433.36 | |
| 30 Year Fixed Conforming See Amortization Table |
8.40% | 8.38% | $2,433.36 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 5 Year Fixed Adjustable See Amortization Table |
7.38% | 6.75% | $6,298.71 | |
| 5 Year Adjustable Conforming See Amortization Table |
8.50% | 8.00% | $2,348.05 | |
| 5 Year Adjustable Jumbo See Amortization Table |
8.48% | 8.00% | $2,348.05 | |
| 15 Year Fixed Jumbo See Amortization Table |
7.77% | 7.75% | $3,012.08 | |
| 15 Year Fixed Conforming See Amortization Table |
7.92% | 7.88% | $3,035.96 | |
| 20 Year Fixed Conforming See Amortization Table |
8.41% | 8.38% | $2,752.78 | |
| 20 Year Fixed Jumbo See Amortization Table |
8.39% | 8.38% | $2,752.78 | |
| 30 Year Fixed Jumbo See Amortization Table |
8.39% | 8.38% | $2,433.36 | |
Compare with 6.818% APR and 6.625% 30-Year Fixed RATE from PenFed Credit Union
See All Mortgage Rates |
||||
| 30 Year Fixed Conforming See Amortization Table |
8.40% | 8.38% | $2,433.36 | |
|
Compare with 6.818% APR and 6.625% 30-Year Fixed RATE from PenFed Credit Union
See All Mortgage Rates |
||||
Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Branches
Axos Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
It is largely unclear what financing Axos has made to date in the renewable space and whether it has existing loans to the carbon sector, but it claims to be unveiling a new financing program for renewable energy.
Updated April 3, 2024
Axos claims to have a new financing program to promote investments in installations in the renewable energy area: https://www.axosbank.com/Business/Commercial-Lending/Equipment-Finance
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Financial Details
Axos Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Axos Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Axos Bank | U.S. Bank Average |
|---|---|
| 7.1% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Axos Bank had $154,285,000 in non-current loans and $5,574,000 in owned real estate. To cover these potential losses it had $2,075,342,000 in equity and $176,821,000 in loans loss reserves. That gives it a Texas Ratio of 7.1%.
Return on Equity
| Axos Bank | U.S. Bank Average |
|---|---|
| 21.04% | 12.20% |
Axos Bank has a Return on Equity of 21.04% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Axos Bank | U.S. Bank Average |
|---|---|
| 10% | 10.76% |
Axos Bank has a Capitalization of 10% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Axos Bank Balance Sheet Analysis
As of December 31, 2023, Axos Bank had assets of $20,746,963,000, loans of $17,425,814,000, and deposits of $18,304,385,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 1,535.40 million |
| Interest-bearing balances | $ 1,511.13 million |
| Total securities | $ 1,081.64 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 17.43 billion |
| Loan loss allowance | $ 176.82 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 5.57 million |
| Goodwill and other intangibles | $ 74.44 million |
| All other assets | $ 364.63 million |
| Total Assets | $ 18.67 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 18.30 billion |
| Interest-bearing deposits | $ 15.38 billion |
| Deposits held in domestic offices | $ 18.30 billion |
| % insured (estimated) | 85.28% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 117.50 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 168.80 million |
| Total Liabilities | $ 18.67 billion |
| Shareholders’ Equity | $ 2.08 billion |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 1,398.05 million |
| Total Interest Expense | $ 548.09 million |
| Net interest income | $ 849.96 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 71.39 million |
| Total non interest expense | $ 393.59 million |
| Pre-tax Net Operating Income | $ 183.69 million |
Bank Loan Profile?
The top three loan types in Axos Bank’s loan portfolio are 1-4 Family Residential Loans, Construction and Development Loans, and Multifamily Mortgages.
Compared to other banks in California, Axos Bank has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 24.88 | ✓ | ||
| Multifamily Mortgages |
13.43 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 2.87 | ✓ | ||
| Small Business Loans | 0.12 | ✓ | ||
| Construction and Development Loans | 14.56 | ✓ | ||
| Commercial Real Estate | 12.28 | ✓ | ||
| Commercial and Industrial Loans | 11.10 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for Axos Bank (7)
JR48
December 21, 2022 |
Stay away from this bait and switch bank that uses teaser rates. They lowered my interest rate twice in the first 2 months of opening my account. They said they had the right to change their rate at any time.
Is this review helpful? Yes:9 / No: 1
Fred1
December 16, 2022 | | Replies 1
By far the absolute worst bank ever. Think of the worst banking experience ever and multiply it by ten. They turned off access to my business accounts on a Thursday, before a busy weekend for my company and it was impossible to resolve it. I sent 8 hours on Friday starting at 8am trying to resolve it. Long waits times to finally reach an Indian call center with staff that was so hard to understand I could comprehend about 20% of what they said. No supervisor is ever available, so don't even try that. The call center employees get frustrated that I cannot understand them and THEY disconnect the call. Rinse and repeat. I beg you to find another bank. No bank at all would be better than this outfit.
Is this review helpful? Yes:10 / No: 0
Fred1 | Apr 19, 2024
*spent 8 hours
cautious
October 29, 2022 |
Caveat Emptor! Like others, attracted to their competitive rates. Moved 125K into their MMA from my credit union. They have a system that somehow displays account information from other institutions to be a portal for easy monitoring your activity. There is no option to opt out. There are only two options for contacting them, their virtual assistant EVO or, even worse, an extremely loud call center in India staffed by apparently 12-year-olds in their third week of ESL (English as a second language) classes. Be prepared for being called by your first name prefixed by Mr./Mrs. (Mr. Joe, Mr. Jack, Mrs. Sarah, Miss Mary, etc.). Have never felt less secure with any bank. Regret my decision but transferring high dollar deposits with any of these "online only" banks is a royal PITA so will closely watch these folks for the first sign of instability. Do not anticipate a lengthy relationship.
Is this review helpful? Yes:15 / No: 0
james
September 14, 2022 |
you need open new account once interest going up, keep in mind your savings account only go down never go up unless you open new account.
Is this review helpful? Yes:8 / No: 0
Puffin
December 28, 2021 |
I made a deposit and issued a check which arrived and they bounced it although they claimed the deposit cleared which left us spending Christmas pennyless. We depended on that money to buy ourselves food so our dinner was left overs. Customers are a pain in the butt to them and their attitude attests to this.
Is this review helpful? Yes:9 / No: 3
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