Axos Bank to acquire ~$2.6B in consumer deposits from SMBC MANUBANK's Jenius Bank

Axos Financial, Inc.

Axos Bank to acquire approximately $2.6 billion in U.S. consumer deposits from SMBC MANUBANK's Jenius Bank digital business.
Axos will pay cash for deposit balances less a negotiated premium; premium amount not disclosed.
Transaction expected to close in late March or April 2026, subject to OCC approval.
Deposits will be transferred and assumed by Axos Bank, with new accounts opened for each depositor.
Agreement includes standard representations, warranties, and indemnification provisions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Axos Financial, Inc. entered into Agreement with SMBC MANUBANK valued at approximately $2.6 billion (effective 2026-02-12).

Action: entry
Agreement: asset purchase
Counterparty: SMBC MANUBANK
Value: approximately $2.6 billion
Effective: 2026-02-12

Exact text from the filing

On February 12, 2026, Axos Bank (the “Bank”), a subsidiary of Axos Financial, Inc. (the “Registrant”), entered into a purchase and assumption agreement (the “Agreement”) with SMBC MANUBANK (“SMBC”) to acquire all of the United States consumer deposits of Jenius Bank, a digital banking business of SMBC.

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Source: SEC EDGAR

accession 0001299709-26-000018

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