Axos Financial, Inc. · NYSE:AX
Axos Financial — BofI Holding — JMP Securities Research Conference 2008
7 slides from Axos Financial's conference presentation, May 21, 2008
Slide 1: JMP Securities Research Conference
JMP Securities Research Conference May 21, 2008 Greg Garrabrants, CEO Andy Micheletti, CFO May 20, 2008 Exhibit 99.2 Safe Harbor Statements contained in the slide show presentation that state expectations or predictions about the future are forward-looking statements intended to be covered by the sa
Slide 2: Corporate Profile
Corporate Profile $1.1 billion asset savings and loan holding company 7+ years operating history, publically traded on NASDAQ since 2005 Headquartered in single branch location in San Diego, CA 30,000 deposit and loan customers Approximately 50 employees (over $22 million in assets per employee) Mar
Slide 3: Primary Businesses
Deposit Products Online Retail Loan Origination Wholesale Banking Servicing Primary Businesses Highly efficient operations (6 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 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 only for quarter-ended 3/31/08 (excludes BofI Holding, Inc to compare to FDIC data) 2. Commercial banks by asset size. FDIC reported for year-ended 12/31/0
Slide 5: Strong Asset Diversity – March 31, 2008
Strong Asset Diversity – March 31, 2008 100% = $596 mm 100% = $496 mm Loans Securities 1. Gross loans before premiums, discounts and allowances Cash & Other Assets 6% Non- Agency MBS 25% Agency Securities 69% Commercial 6% Consumer & Other 10% SF Residential 21% Home Equity 7% Multifamily 56%
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 0.15% 0.08% Banks $1-$10bn 0.82% 0.14% Assets In Non-Accrual 0.05% 0.78% Banks $0.5-$1bn 0.79% 0.15% 0.77% 1. Bank of Internet only as of 3/31/08 (excludes BofI Holding, Inc to compare to FDIC data) 2. C
Slide 7: Common Equity Investment Considerations
Common Equity Investment Considerations High-Quality Consumer Franchise Attractive Valuation Scalability Strong Credit Quality Significant Earnings Upside Potential
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