Axos Financial, Inc. · NYSE:AX
Axos Financial — BofI Holding — B. Riley & Co. 10th Annual Investor Conference (March 2009)
14 slides from Axos Financial's conference presentation, Mar 18, 2009
Slide 1: B. Riley & Co. Investor Conference
B. Riley & Co. Investor Conference March 19, 2009 Greg Garrabrants, CEO Exhibit 99.1 Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). The words “believe,” “expect,” “anticipate,” “estimate
Slide 2: Why We Are Different – By The Numbers
324.12% 34.25% 1.64% 0.66% 50.67% Why We Are Different – By The Numbers Percent increase in net income from Q2 2008 to Q2 2009 Efficiency ratio Q2 2009 consolidated Increase in net interest margin from Q2 2008 to Q2 2009 Ratio of non-performing assets to total assets (12/31/08) Share price as % of t
Slide 3: Corporate Profile
Corporate Profile $1.2 billion asset savings and loan holding company (1) 8+ years operating history, publically traded on NASDAQ since 2005 Headquartered in single branch location in San Diego, CA 27,000 deposit and loan customers 51 employees (over $23 million in assets per employee) Market Capita
Slide 4: Primary Businesses
Deposit Products Online Retail Loan Origination Wholesale Banking Servicing Primary Businesses Highly efficient operations (7 CSRs; 23,000 accounts) Full-featured products Self-service operations Ability to adjust asset class and credit standards quickly Low fixed costs Wide network of seller relati
Slide 5: Our Business Model Is Profitable With Lower Spreads Because Our Costs Are Lower
Our Business Model Is Profitable With Lower Spreads Because Our Costs Are Lower Salaries and Benefits Premises and Equipment 1. Bank of Internet USA only for quarter-ended 12/31/08- the most recent quarter on FDIC website. Excludes BofI Holding company to compare to FDIC data. 2. Commercial banks by
Slide 6: Our Credit Quality Is Best-In-Class
Our Credit Quality Is Best-In-Class Assets 30-89 days delinquent Assets >90 days delinquent BofI (1) 0.25% 0.12% Banks $1-$10bn (2) 1.10% 0.17% Assets In Non-Accrual 0.33% 1.96% Banks $0.5-$1bn (2) 1.05% 0.15% 1.65% 1. Bank of Internet USA only at 12/31/08 (excludes BofI Holding, Inc. to compare to
Slide 7: Net Interest Margin Improvement
Increased by 164 bps 1.34% 2.42% 1.76% 2.68% 2.98% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% Q2'08 Q3'08 Q4'08 Q1'09 Q2'09 Net Interest Margin Improvement Consolidated Net Interest Margin Last 5 Quarters
Slide 8: jal
jal —_ bankofinternet ae
Slide 9: Resulting In Higher After-Tax Net Income and Return On Equity
$651 $1,018 $1,780 $2,893 $2,761 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Q2'08 Q3'08 Q4'08 Q1'09(1) Q2'09 Resulting In Higher After-Tax Net Income and Return On Equity ($ in 000s) 1. Q1’09 excludes $4.7mm after tax loss on sale of Fannie Mae preferred stock due to US government conservator
Slide 10: Loan Diversity – December 31, 2008
Loan Diversity – December 31, 2008 100% = $653 mm Loan Portfolio (1) 1. Gross loans before premiums, discounts and allowances.
Slide 11: Loan Portfolio – Years Seasoned / Loan to Value
Loan Portfolio – Years Seasoned / Loan to Value Weighted-Average Years Since Origination and Weighted-Average Loan to Value, by Loan Type, at 12/31/08 (Number of Years or LTV) WA Years of Seasoning WA Loan to Value
Slide 12: Deposits – December 31, 2008
Deposits – December 31, 2008 100% = $632 mm Deposits
Slide 13: Investment Considerations
Investment Considerations High-Quality Consumer Franchise Attractive Valuation Scalability Strong Credit Quality Significant Earnings Upside Potential
Slide 14: bankofinternet
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