Axos Bank to acquire $3.2B in IRA deposits from Capital One, subject to regulatory approval

Axos Financial, Inc.

Axos Bank to acquire ~$3.2B in IRA deposits (savings & CDs) from Capital One.
Purchase price equals aggregate deposit balance less an undisclosed premium.
Deal subject to OCC approval under Bank Merger Act; expected close later in 2026.
Acquisition includes IRAs, account agreements, and deposit liabilities; Axos assumes custodian duties post-closing.

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 Capital One, National Association valued at approximately $3.2 billion (effective 2026-04-22).

Action: entry
Agreement: asset purchase
Counterparty: Capital One, National Association
Value: approximately $3.2 billion
Effective: 2026-04-22

Exact text from the filing

On April 22, 2026, Axos Bank (the “Bank”), a subsidiary of Axos Financial, Inc. (the “Registrant”), entered into a purchase and assumption agreement (the “Agreement”) with Capital One, National Association (“Capital One”) to acquire individual retirement accounts (“IRAs”) with an aggregate balance of approximately $3.2 billion deposited into associated savings and certificate of deposit accounts, along with certain assets and liabilities related thereto.

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Axos Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001299709-26-000027

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