A $12 million pretax gain from sale of multifamily loans and a $5.5 million noncash deferred tax impairment impacted net income this quarter.
Axos Financial delivered strong Q4 fiscal 2025 results with $856 million net loan growth linked quarter and 6 basis points net interest margin expansion.
Net income was approximately $110.7 million, with diluted EPS of $1.92, compared to $105.2 million and $1.81 respectively in the prior quarter.
Net interest income was $280 million, up 7.7% year-over-year, and net interest margin was 4.84%, up from 4.78% in the prior quarter.
Nonaccrual loans declined by $15 million linked quarter, improving the nonaccrual loans to total loans ratio to 79 basis points.
Noninterest expenses increased 3% from prior quarter, excluding a $2 million legal accrual reversal, with salaries and benefits roughly flat.
Total deposits increased 7.6% year-over-year to $21 billion, with a diverse deposit base supporting organic loan growth.
Asset quality remained strong with no net charge-offs, nonperforming assets steady at 0.19%, and classified loans showing a modest uptick.
Bridgewater reported strong revenue and balance sheet growth trends in Q2 2025, with net interest margin expanding by 11 basis points to 2.62%.
Expenses were well controlled with a slight increase due to FDIC insurance, charitable contributions, and marketing, resulting in an adjusted efficiency ratio of 51.5%.
Fee income reached record levels excluding one-time gains, including nearly $1 million in swap fee income and over $200,000 in investment advisory fees from the First Minnetonka City Bank acquisition.
Net interest income grew by $2.2 million during the quarter, driven by loan portfolio repricing and strong loan growth at a 12.5% annualized rate.
Noninterest income increased $773,000 or 37% excluding securities gain and FHLB prepayment income.
Tangible book value per share grew nearly 11% annualized year-to-date, with $1.6 million of common stock repurchased in Q2.
Dafinchi