Axos Financial, Inc. is an American bank holding company based in Las Vegas, Nevada, and is the parent of Axos Bank, a direct bank on the list of largest banks in the United States. It also offers registered investment adviser services and an electronic trading platform.
History Axos was founded in 1999 as BofI Holding, Inc., by Jerry Englert, the founder of Bank of Del Mar, and Gary Lewis Evans, president of La Jolla Bank, with $14 million of startup capital. It began operations as Bank of Internet on July 4, 2000. The start date of July 4 was purposely chosen because it showed that the bank would be open on a day that other banks were closed due to Independence Day and because the internet bank represented "Independence from traditional banking".
BofI became a public company via an initial public offering on March 15, 2005. It offered 3,052,745 shares of common stock at a price of $11.50 per share.
Gregory Garrabrants, previously senior vice president at IndyMac Bancorp, was appointed CEO in October 2007. In 2018, Garrabrants earned $34.5 million, making him the highest paid bank CEO of that year.
On October 1, 2018, BofI Holding re-branded as Axos Financial, and switched its stock exchange listing from NASDAQ to the NYSE. Bank of Internet was rebranded as Axos Bank.
Acquisitions # Date Assets Ref(s). 1 $173 million in deposits from Principal Bank 2 Bank unit of H&R Block 3 $140 million of equipment leases from Pacific Western Equipment Finance 4 $3 billion in deposits and 40,000 customers from Nationwide Bank 5 COR Clearing LLC (rebranded as Axos Clearing) 6 WiseBanyan (rebranded as Axos Invest) 7 $175 million in deposits from MWABank 8 E*TRADE Advisor Services (rebranded as Axos Advisor Services) 9 Marine finance business of Bank of Clarke 10 Two loans from the FDIC previously owned by Signature Bank (unpaid principal balance of $1.253 billion; cost of 63% of par value) 11September 2025Verdant Commercial Capital, an equipment leasing firm; price was $43.5 million
Lending practices The bank has made larger loans to wealthy individuals that other banks have turned down, albeit at higher interest rates.
The company made a total of $400 million in loans to Donald Trump and is one of his largest lenders. In March 2022, Axos funded a $100 million mortgage loan secured by Trump Tower. The company also financed Trump National Doral Miami.
As of June 30, 2025, approximately 28.7% of the company's loans were secured by properties in Southern California, 7.1% were secured by properties in Northern California, 28.2% were secured by properties in New York, 12.0% were secured by properties in Florida, and 5.5% were secured by properties in Texas.
References
External links
Axos Bank Home Page