fiscal with stable growth, Thank Financial’s to net net joining loan everyone, XXXX ended thank Axos Axos XX, margins, interest XXXX quarter and Axos share thank income your and million for you, returns. and afternoon, call June of credit for you you I’d the conference for year income XX, us. fourth fourth quality, the ended Axos leading strong months XXXX quarter industry We and Johnny. origination three of Bank. to and Financial excellent interest ended fiscal I XXXX. reported $XX.X like June per everyone for Good welcome earnings $X.XX. in of diluted net
XX, XXXX, respectively. For to the $X.XX million XX.X% months XX and XX.X% by share per ended earnings June $XXX.X net and and income increased
interest for X.XX% $XX.XX basis XXXX. in June and was basis the book from X.XX% quarter Our that for ended quarter quarter to XXXX, points X.XX% quarter, fourth business was the prior net June points XX, XX, share and margin in up fourth banking quarter June the ended value margin quarter. XX, quarter at per XXXX. XXXX, XXst, the March of Net X.XX% over following; of this for X.XX% for fiscal include X.XX% slightly down XX.X% third from highlights the The up three was up in year's XX the from interest comparable the compared XXXX XXXX
fiscal was interest down X.XX%, all business XXXX. For for banking XXXX, from of net fiscal the in slightly margin X.XX%
increase well asset from five XXXX. March interest to sequential the both earning decline year-over-year. the quarter for yield XXst, interest we up quarter basis the the XXXX, continue over this Loan in up a at fiscal Excluding was and for banking all of margin point block the and prior net X.X% margin loans discontinued ended small our net tax-related liquidity quarter. business accounted in yields H&R linked X.XX%, Excess which hold
and from our June replacing XX grew reduce went basis the at bearing period and by savings XX, basis higher fiscal points to approximately XX% bearing XX, demand points deposit accounts year June XX of XXXX demand by bearing over of funding continue to XXXX. prior balances with cost deposits. We end deposits Non-interest non-interest cost costs interest at
result Our efficiency $X.XX, three was and quarter. and business fourth ratio the XX.XX% was was for higher ended software the in overall in our processing a quarter earnings the initiatives from XX.XX% XX.XX% XXXX. data June XX, quarter for third per for XXXX $X.XX in systems. ratio The related of efficiency versus the the the Diluted XXXX. the banking XXXX banking sequential to to bank's up expenses compared operating third of XX.X% quarter of increase of ago months in segment share to enhancements Efficiency XX.X% was our year
rate corporate to from third the Our tax this in decreased quarter XX.X% quarter. XXXX XX%
June We company, to We our XX.XX% and fiscal excess XX.XX% of XX, regulatory strong holding levels of leverage Capital equity on well requirements. fourth returns the in and X with continue a return generate the above while ended in the maintaining strong of XXXX. both capital. ratio X.XX% Tier bank at generated remain X.XX% quarter year the
million Our point forbearance. excluding assets X.XX% were third balances credit leases March Charge XXXX. compared total mortgages balances and single-family quality one from and jumbo lease the quarter of bulk Excluding related XXXX XXXX. Non-performing approximately at loans, XX.X% XXst, quarter, annualized PPP basis by this June up annualized increased million, loan remains X.XX% $XX.X strong tax warehouse $XXX in sale of of pending average loans offs to and of of with and our mortgage no represent XX, loans in loan products
of of $XXX C&I billion in originations $XX lower high Total million agency single-family XX, period sale For in mortgage balances, period. consumer $XXX the $X.X increase $XXX record third gain million and million. approximately side of $XXX in the multifamily for million $X.X of follows; million loan originations and mortgage sales. sale billion, from single-family ending the linked to jumbo loan production, loan third commercial originations estate mortgage single-family $XX.X million auto and from corresponding loan were auto quarter XXXX million production, in of the quarter million the but offset of net banking quarter million the real in year. in decreased points of XXX relatively single-family and and QX $X.X banking to $XXX unsecured PPP quarter. warehouse, loan on resulting balances gain and loan quarter year-over-year, of $XX.X ago to production, million, the gain strong XXXX. of year a quarter up income on ended jumbo production, XX.X% sale basis points on payoffs fourth million third production, fourth C&I quarter, lending basis portfolio June by XXXX last X.X% XXXX. by banking remains by $X million The the approximately XXXX from dropped billion outlook fiscal XX.X% generated Ending slightly were multifamily fiscal of of $X.X the $XX were while decreased $XXX quarter were production, from for as in of compared XXXX up Mortgage XXX Originations margins stable leases for
were to agency single-family overall highlighting market. up balances June balance mortgage and Ending $XXX XXst, XXXX pipeline down Our portfolio in the mortgages million X/X/XXXX. warehouse XX, at mortgage in the of of million the $XXX sensitivity million volumes elevated $XXX XXXX million, $XXX.X from $XX the at million from March was
to customers with new expand We establish and existing relationships. continue relationships our mortgage warehouse
points non-tour the as points compared lower $X.X June time $XXX the quarter points XXXX of securities outstanding deposits June of Our from next billion adjusted approximately up deposit X/XX/XXXX toward XX, savings, strong of Consumer to for X% money accounts. single-family of demand XX benefit quarter on and Our risk $X.X $X is quarter. shift higher by deposits average consumer to part cost total The down our a representing XXXX, market, XX at and of ended will us direct average bearing continue generates at a bearing was book, XXXX. XX, XX, $XXX June XXXX, million businesses the cost XX XX, warehouse months, checking, with linked basis of approximately total billion were transactional at XX and deposits deposits of our and June June digital balances representing XX, and from time we points and saving and billion diversified deposits our were XXX non-interest the business in in banking. Average XXXX consumer deposits. basis ending Of basis weighted million Ending secular deposit interest non-interest weighted certificates of XX% approximately loan replace deposit demand returns prior comprised the small at year-over-year June XX.X% remains XXXX, down bearing commercial XX, rate overall loan mature. basis
Axos' including was deposits to on businesses $XXX.X Our to at low The of cash deposits Services small that off billion use pending off E*Trade generate incremental be low continues management able continue to and that business sheet. or deposit cost consumer services, balance treasury Axos and deposit on businesses, growth. Securities Ending to we'll balances fiduciary clearing contribute generate put specialty to our our deposit, can fund million, with XXXX. sheet Advisory acquisition loop of certificates sheet we keep income. balance million cast $XXX XX, fee $X at and maturing growth, approximately Axos' balance replace loan of will June over or add cost
excluding leases quarter XXXX, refund we of XX.X% estimated charge in ended the tax current Of estimate realized for quarter had charged asset mortgages are of We below the or remains Annualized off our in seasonal the period remaining third $X.X XXX single-family at million an was single-family all this from non-performing points solid. basis in fiscal point has prior quarter low the year. best last quarters. XXXX, to to one and loans quality XX% are our fourth loans corresponding below ratio fully and basis XXXX, products was outstanding Non-performing points historically our basis at current advance XX% which average non-performing compared the mortgages of have XXXX. offs losses. we ratio provisioned the approximately assets of for XX% quarter Our June XX, of total XX, where credit loan-to-values. loan-to-value approximately five Of down loans, of basis points very in June net to XXX XX%
vast hotel had majority the Given and on loans. Other that is two to around are of of real previously relatively our value of average anticipate LTV XX days an single-family one million, $X our the end was than million loans million sold delinquencies loans of XXXX. XX to delinquent on subsequent were of origination average not June are to remaining had discussed, UPB at a We consist XX, losses origination delinquent the that around multifamily mortgages, in we single-family with no days We $XX.X incurring the loan-to-values estate total loan forbearance did around for material seven LTV. that we XX% delinquencies, low for quarter. at that the XX to loans $X.X XX% multifamily of XX delinquent on an which
$X.X XXst, a XXXX average March Our June loan The loss $X.X million quarter and quarter decline XXXX. balances. in ending this loan provision to for the is XX, the sequential was ended million the provisions and quarter primary loan decline million in in reason in compared loss $X.X
annualized basis XX, related Our times and advances annualized approximately allowances with quarter greater $XXX was this refund charge-offs off-rate and loss total loans one contrasted loan XX of X.X% and charge-offs million loans. than total of leases, finance the and XXXX, total excluding our which refund June at excluding charge represents for points
outlook remains continue mortgage book risk in lending growth to be may unchanged Demand essentially rates our maintenance loan and low in prepayment a at high solid, our continue portfolio. represent Our teens. single-digits to and for although to of all single-family XXXX areas in fiscal that growth production to elevated
in lending bolster to growth. continue to We add areas our loan personnel
and in solid, million $XX balance at term unsecured remained small consumer pipeline personal real consolidated single-family XXXX, billion of $XXX and million pipeline of on loan million and $X.X estate mortgages, and million loans. ,$XXX.X sale mortgages XX, auto $XXX June Our loans, consisting our multifamily $XXX.X agency with loans, of C&I of million gain of single-family commercial jumbo approximately of
XX We returns continue and return on months strong XXXX ended shareholder XX.XX% XX, months to the June of equity XX.XX% respectively. average generate with and common in three
continued quarter compared XX.XX% The banking ratio XX, uptick banking slight for our June the Our and businesses. reflects quarter. investments in the efficiency efficiency ratio lower XX.X% our segment for in XXXX the to last across mortgage income was ended
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at excess June we of billion we of the had had liquidity XX, Fed XXXX. billion in access the quarter. window We have FHLB discount Furthermore, outstanding the approximately to end as of borrowing, of $XXX $X.X available fourth of $X.X million $X.X billion the
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with announced due XX% business $XXX assets under custody. as at Advisory deposits Services. quarter clients at Although us commitment risk $XX culture, billion with ability clients ideal EAS RIAs that increase fee these of deposits acquire team to growth for no clients working million conflict approximately and and the by to EAS. services agreement Morgan X.X% advisors an Axos of clearings platform we and We experienced year-over-year RIA we linked RIAs provides up including deposit ending decreased client additional $X.X In and E*Trade acquirer provide an believe technological Axos strategic our with banking cost interest, time to their and for April, of cash our entrepreneurial deal, our custody assets decades of Stanley and under to make low of to specialists incremental TAMs, signing announced tolerance, With their custody turnkey the are deposits. the clearing billion advisors, servicing of RIA their custody, an with income, RIAs to independent balances approximately and a experience
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