Axos Financial, Inc. · NYSE:AX
Axos Financial — BofI Holding — Sandler O'Neill + Partners West Coast Financial Services Conference 2010
11 slides from Axos Financial's conference presentation, Mar 2, 2010
Slide 1: West Coast Financial Services Conference
Sandler O’Neill + Partners West Coast Financial Services Conference March 2, 2010 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,” “
Slide 2: Corporate Profile
Corporate Profile $1.3 billion asset savings and loan holding company (1) 10 years operating history, publically traded on NASDAQ since 2005 Headquartered in single branch location in San Diego, CA 31,000 deposit and loan customers 64 employees ($21 million in assets per employee) Market Capitalizat
Slide 3: Primary Businesses
Deposit Products Online Retail Loan Origination Wholesale Banking Servicing Primary Businesses Highly efficient operations (9 CSRs; 27,000 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 4: Our Business Model Is More Profitable Because Our Costs Are Lower
Our Business Model Is More Profitable Because Our Costs Are Lower Salaries and Benefits Premises and Equipment 1. Bank of Internet USA only for three months ended 9/30/09 - the most recent data on FDIC website. Excludes BofI Holding company to compare to FDIC data. 2. Commercial banks by asset size.
Slide 5: 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) Banks $1-$10bn (2) Assets In Non-Accrual Banks $0.5-$1bn (2) 1. Bank of Internet USA only at 12/31/09 (excludes BofI Holding, Inc. to compare to FDIC data). 2. Commercial banks by asset size. FDIC re
Slide 6: Net Interest Margin Improvement
Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Net Interest Margin Improvement Consolidated Net Interest Margin Last 5 Quarters
Slide 7: And Our Efficiency Ratio Improved Dramatically
One of the lowest rates in the industry Q3'09 Q4'09 Q1'10 Q2'10 Banks(1) And Our Efficiency Ratio Improved Dramatically Efficiency Ratio (Bank of Internet USA, for the quarter ended) Source: FDIC statistics on depository institutions. All data excludes holding companies for banks. 1. Reported by FDI
Slide 8: Resulting In Higher After-Tax Net Income and Return On Equity
$2,761 $2,594 $3,604 $3,708 $5,548 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Resulting In Higher After-Tax Net Income and Return On Equity ($ in 000s) Return On Equity
Slide 9: Allowance For Loan Loss
Allowance For Loan Loss % of Non- Performing Loans $3,374 $3,956 $4,754 $5,270 $5,449 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10
Slide 10: Loan Portfolio – Loan Diversity, December 31, 2009
24% 4% 54% 5% 13% SF Residential Home Equity Multifamily Commercial Consumer & Other Loan Diversity – December 31, 2009 100% = $670 mm Loan Portfolio (1) 1. Gross loans before premiums, discounts and allowances.
Slide 11: Loan Portfolio – Years Seasoned / Loan to Value
Single Family Multifamily Commercial Home Equity 0.59 0.53 0.52 0.58 3.77 5.26 3.23 2.22 Loan Portfolio – Years Seasoned / Loan to Value Weighted-Average Years Since Origination and Weighted-Average Loan to Value, by Loan Type, at 12/31/09 (Number of Years or LTV) WA Years of Seasoning WA Loan to Va
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