---
schema_version: "secwatch.filing_event.v1"
accession: "0001299709-23-000315"
form_type: "8-K"
ticker: "AX"
cik: "0001299709"
company_name: "Axos Financial, Inc."
filed_at: "2023-12-07T23:59:59+00:00"
generated_at: "2026-06-07T16:02:31.741978+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Axos Bank buys $1.25B performing CRE loan portfolios from FDIC at 63% of par; $463.7M discount

## Summary
- Purchase price of ~63% of par value on $1.253B unpaid principal balance; discount totals $463.7M.
- All 58 loans current; weighted-average yield 6.9% before discount accretion; avg LTV 59.3%.
- Interest rate swaps convert borrowers' fixed 3.8% average to Axos's variable 6.9% note rate.
- Portfolio comprises $578.6M CRE loans (6.8% yield, 50.2% LTV) and $674.6M multifamily loans (7.0% yield, 67.0% LTV).
- Transaction paid in cash; expected to be accretive to net interest margin and net interest income.

## SEC filing metadata
- accession: 0001299709-23-000315
- form_type: 8-K
- ticker: AX
- cik: 0001299709
- company_name: Axos Financial, Inc.
- filed_at: 2023-12-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1299709/000129970923000315/0001299709-23-000315-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1299709/000129970923000315/ax-20231207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001299709-23-000315
- JSON: https://secwatch.observer/filing/0001299709-23-000315.json
- Plain text: https://secwatch.observer/filing/0001299709-23-000315.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.