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axos FINANCIAL Axos Financial , Inc. Reports Fiscal Third Quarter 2021 Results Net Interest Margin Improved to 3.96 % from 3.94 % in the Second Quarter of 2021 SAN DIEGO , CA - ( BUSINESS WIRE ) - April 29 , 2021 - Axos Financial , Inc. ( NYSE : AX ) ( " Axos " ) , parent company of Axos Bank ( the " Bank " ) , today announced financial results for the third fiscal quarter ended March 31 , 2021. Net income was $ 53.6 million , a decrease of 4.3 % from $ 56.1 million for the quarter ended March 31 , 2020. Earnings attributable to Axos ' common stockholders were $ 53.6 million or $ 0.89 per diluted share for the third quarter of fiscal 2021 , a decrease of 4.2 % from $ 56.0 million or $ 0.91 per diluted share for the third quarter ended March 31 , 2020 . 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 decreased 3.9 % to $ 55.4 million and decreased 2.1 % to $ 0.92 , respectively , for the quarter ended March 31 , 2021 compared to $ 57.7 million and $ 0.94 , respectively , for the quarter ended March 31 , 2020 . Third 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 March 31 Q3 Fiscal 2021 Q3 Fiscal 2020 % Change $ 135,669 $ 148,616 ( 8.7 ) % $ 23,887 S 31,542 ( 24.3 ) % $ 53,645 $ 56,057 ( 4.3 ) % $ 55,416 S 57,652 ( 3.9 ) % $ 53,645 $ 55,980 ( 4.2 ) % $ $ 0.89 $ 0.92 $ 0.91 ( 2.2 ) % 0.94 ( 2.1 ) % For the nine months ended March 31 , 2021 , net income was a record $ 161.5 million , an increase of 16.9 % over net income of $ 138.1 million for the nine months ended March 31 , 2020. Earnings attributable to Axos ' common stockholders were $ 161.3 million or $ 2.67 per diluted share for the nine months ended March 31 , 2021 , an increase of 16.9 % from $ 137.9 million or $ 2.23 per diluted share for the nine months ended March 31 , 2020 . " Our fiscal third quarter 2021 results are a continuation of consistent progress in each of our businesses , " stated Greg Garrabrants , President and CEO of Axos . " Net interest margins showed further improvement , increasing by 2 basis . points over linked quarter and 12 basis points for the banking business segment . Ending loan balances excluding mortgage warehouse were up 3.1 % linked quarter , or 12.3 % annualized , led by growth in commercial real estate and C & I lending . Excluding H & R Block - related fees in the prior year period , fee income improved 43.7 % year - over - year due to strong growth in mortgage banking and broker - dealer fees . We will deploy some of our excess capital in the announced acquisition of E * TRADE Advisor Services . We are excited about adding a state - of - the - art technology platform , a seasoned team of custody experts , a new source of asset- and transaction - based fee income , and access to over $ 1 billion of low - cost deposits when the acquisition closes . "