Axos Financial, Inc. Completes Major Acquisition of Jenius Bank’s U.S. Consumer Deposits

Las Vegas, NV – May 4, 2026 – Axos Financial, Inc. (NYSE: AX) has announced the successful completion of a significant acquisition that will be of strong interest to investors and shareholders. On May 2, 2026, Axos Bank, the principal subsidiary of Axos Financial, finalized its previously announced acquisition of all U.S. consumer deposits from Jenius Bank, the digital banking arm of SMBC MANUBANK, pursuant to a Purchase and Assumption Agreement dated February 12, 2026.

Key Highlights of the Transaction

• Completion Date: May 2, 2026
• Deposits Acquired: Approximately \$2.3 billion in consumer deposits transferred from Jenius Bank to Axos Bank
• Consideration: Axos Bank received cash consideration, less a negotiated premium
• Agreement Reference: The Purchase and Assumption Agreement, which defines the terms and details of the transaction, was previously filed as Exhibit 99.1 to Axos Financial’s Form 8-K on February 12, 2026

Implications for Shareholders

• Potential Share Price Impact: This acquisition is material and may be price-sensitive. The addition of \$2.3 billion in consumer deposits meaningfully increases Axos Bank’s deposit base, which could enhance the company’s funding profile, support future loan growth, and improve overall competitiveness in the digital banking sector.
• Strategic Expansion: The transaction aligns with Axos Financial’s growth strategy, positioning it to capture more market share in the U.S. digital banking space and to leverage technology for scale and efficiency.
• Integration and Execution Risks: While the transaction provides significant opportunities, there may also be risks associated with integrating a large volume of new consumer deposits and the associated customer base. Shareholders should monitor future disclosures regarding integration progress and any cost or revenue synergies.

Additional Information

• Regulatory and Compliance: There is no indication in the report of any regulatory or compliance issues with the transaction. The company has followed standard SEC filing protocols, and the completion of the transaction suggests regulatory approval was received as needed.
• Emerging Growth Company Status: Axos Financial has indicated that it is not an emerging growth company, which means it is subject to full SEC reporting requirements.
• Corporate Information: Axos Financial, Inc. is incorporated in the state of Delaware, with headquarters at 9205 West Russell Road, Suite 400, Las Vegas, NV 89148. The company’s common stock is traded on the NYSE under the ticker symbol “AX”.

What to Watch Next

• Financial Results: Investors should watch for upcoming quarterly and annual financial statements to assess the impact of the acquired deposit base on Axos Financial’s balance sheet, net interest margin, and overall profitability.
• Management Commentary and Guidance: Look for further commentary from Axos Financial’s management regarding integration milestones, expected cost savings, and strategic initiatives enabled by the larger deposit base.
• Market Reaction: Share price volatility may occur as the market digests the financial and strategic implications of this significant transaction.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review all company filings and consult with their financial advisors before making investment decisions. The author and publisher assume no liability for any actions taken based on the information contained herein.

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