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axos FINANCIAL Axos Financial , Inc. Reports Record Fiscal Second Quarter 2021 Results Diluted Earnings Per Share in Second Quarter 2021 up 35.8 % Year - Over - Year SAN DIEGO , CA - ( BUSINESS WIRE ) - January 28 , 2021 - Axos Financial , Inc. ( NYSE : AX ) ( " Axos " ) , parent company of Axos Bank ( the " Bank " ) , today announced financial results for the second fiscal quarter ended December 31 , 2020. Net income was $ 54.8 million , an increase of 32.7 % from $ 41.3 million for the quarter ended December 31 , 2019. Earnings attributable to Axos ' common stockholders were $ 54.7 million or $ 0.91 per diluted share for the second quarter of fiscal 2021 , an increase of 32.6 % from $ 41.2 million or $ 0.67 per diluted share for the second quarter ended December 31 , 2019 . Adjusted earnings and adjusted earnings per diluted common share ( " adjusted EPS " ) , non - GAAP measures , which excludes non - cash amortization expenses and non - recurring costs related to mergers and acquisitions , and other non- recurring costs increased 31.7 % to $ 56.6 million and increased 36.2 % to $ 0.94 , respectively , for the quarter ended December 31 , 2020 compared to $ 42.9 million and $ 0.69 , respectively , for the quarter ended December 31 , 2019 . Second Quarter Fiscal 2021 Financial Summary : ( Dollars in thousands , except per share data ) Net interest income Non - interest income Net income Adjusted earnings ( Non - GAAP ) ' Net income attributable to common stockholders Diluted EPS Adjusted EPS ( Non - GAAP ) ' 1 See " Use of Non - GAAP Financial Measures " Three Months Ended December 31 Q2 Fiscal 2021 Q2 Fiscal 2020 % Change $ 134,092 $ 108,420 23.7 % $ 28,718 $ 21,207 35.4 % $ 54,785 $ 41,295 32.7 % $ 56,566 S 42,949 31.7 % $ 54,672 $ 41,217 32.6 % $ $ 0.91 $ 0.67 35.8 % 0.94 $ 0.69 36.2 % For the six months ended December 31 , 2020 , net income was a record $ 107.8 million , an increase of 31.3 % over net income of $ 82.1 million for the six months ended December 31 , 2019. Earnings attributable to Axos ' common stockholders were $ 107.6 million or $ 1.79 per diluted share for the six months ended December 31 , 2020 , an increase of 31.4 % from $ 81.9 million or $ 1.32 per diluted share for the six months ended December 31 , 2019. Record earnings for the fiscal second quarter and for the six months ended December 31 , 2020 were primarily the result of growth in the Bank's loan and lease portfolio , exceptional performance in mortgage banking and lower deposit rates paid . " We achieved record second quarter earnings , despite maintaining a conservative level of loan loss reserves , " stated Greg Garrabrants , President and Chief Executive Officer of Axos . " Net interest income and non - interest income increased by more than 20 % year - over - year as a result of solid loan growth and mortgage banking fees , as well as strong net interest margin expansion . With a diverse set of lending and fee - based businesses , we feel good about our ability to generate good risk - adjusted returns for our shareholders . "