Axos Financial, Inc. · NYSE:AX
Axos Financial — BofI Holding — JMP Securities Research Conference 2010
9 slides from Axos Financial's conference presentation, May 10, 2010
Slide 1: JMP Securities Research Conference
JMP Securities Research Conference May 10, 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,” “expect,” “anticipate,” “estimate,”
Slide 2: What We Have Accomplished Over the Last Two Years
620% (53%) 116% What We Have Accomplished Over the Last Two Years Percentage increase in net income from Q3’08 ($1.0mm) to Q3’10 ($7.2mm) Improvement in efficiency ratio Q3’08 (55.2%) to Q3’10 (25.7%) Percentage increase in net interest margin from Q3’08 (1.76%) to Q3’10 (3.81%)
Slide 3: Corporate Profile
Corporate Profile $1.4 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 76 employees ($18 million in assets per employee) Market Capitalizat
Slide 4: 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 5: 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 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) 0.57% 0.24% Banks $1-$10bn (2) 0.95% 0.20% Assets In Non-Accrual 0.45% 2.90% Banks $0.5-$1bn (2) 1.08% 0.18% 2.63% 1. Bank of Internet USA only at 12/31/09 (excludes BofI Holding, Inc. to compare to
Slide 7: Loan Portfolio: Loan Diversity
33% 3% 47% 5% 12% SF Residential Home Equity Multifamily Commercial Consumer & Other Loan Diversity – March 31, 2010 100% = $763 mm Loan Portfolio (1) 1. Gross loans before premiums, discounts and allowances.
Slide 8: 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 3/31/10 (Number of Years or LTV) WA Years of Seasoning WA Loan to Value Single Family Multifamily Commercial Home Equity 4.33 5.36 3.28 2.36 0.54 0.52 0.51 0.
Slide 9: Investment Considerations
Investment Considerations High-Quality Consumer Franchise Attractive Valuation Scalability Strong Credit Quality Significant Earnings Upside Potential
BofI Holding — JMP Securities Research Conference 2010 on 6ix