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SEGMENT REPORTING AND REVENUE INFORMATION
 6 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING AND REVENUE INFORMATION SEGMENT REPORTING AND REVENUE INFORMATION
Segment Reporting. The operating segments reported below are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer in deciding how to allocate resources and in assessing performance. The operating segments and segment results of the Company are determined based upon the management reporting system, which assigns balance sheet and income statement items to each of the business segments and by which segment results are evaluated by the Chief Executive Officer in deciding how to allocate resources and in assessing performance.
The Company evaluates performance and allocates resources based on pre-tax profit or loss from operations. Certain corporate administration costs have not been allocated to the reportable segments. The Company operates through two operating segments: Banking Business and Securities Business. Inter-segment transactions are eliminated in consolidation and primarily include non-interest income earned by the Securities Business segment and non-interest expense incurred by the Banking Business segment for cash sorting fees related to deposits sourced from Securities Business segment customers, as well as interest expense paid by the Banking Business segment to each of the wholly-owned subsidiaries of the Company and to the Company itself for their operating cash held on deposit with the Business Banking segment. For more information on the Company’s operating segments, see Note 23—“Segment Reporting” in the Company’s 2023 Form 10-K.
In order to reconcile the two segments to the consolidated totals, the Company includes parent-only activities and intercompany eliminations. The following tables present the operating results, goodwill, and assets of the segments:
For the Three Months Ended December 31, 2023
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$226,635 $6,080 $(4,109)$228,606 
Provision for credit losses13,500 — — 13,500 
Non-interest income103,779 32,641 (12,291)124,129 
Non-interest expense102,282 27,968 (8,411)121,839 
Income before taxes$214,632 $10,753 $(7,989)$217,396 
For the Three Months Ended December 31, 2022
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$198,545 $4,876 $(3,511)$199,910 
Provision for credit losses3,001 — — 3,001 
Non-interest income10,557 36,004 (18,232)28,329 
Non-interest expense96,783 25,271 (14,027)108,027 
Income before taxes$109,318 $15,609 $(7,716)$117,211 
For the Six Months Ended December 31, 2023
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$435,854 $11,622 $(7,715)$439,761 
Provision for credit losses20,500 — — 20,500 
Non-interest income116,336 67,196 (24,896)158,636 
Non-interest expense203,068 55,491 (16,214)242,345 
Income before taxes$328,622 $23,327 $(16,397)$335,552 
For the Six Months Ended December 31, 2022
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Net interest income$378,275 $9,151 $(7,041)$380,385 
Provision for credit losses11,751 — — 11,751 
Non-interest income21,269 65,169 (30,901)55,537 
Non-interest expense197,579 49,786 (23,251)224,114 
Income before taxes$190,214 $24,534 $(14,691)$200,057 
As of December 31, 2023
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $61,952 $— $97,673 
Total Assets$20,757,856 $819,744 $46,164 $21,623,764 
As of June 30, 2023
(Dollars in thousands)Banking
Business		Securities BusinessCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $61,952 $— $97,673 
Total Assets$19,396,167 $899,496 $52,806 $20,348,469 
Revenue Information. The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Accounting Standards Codification (“ASC”) 606 for the periods indicated. For further information of the Company’s recognition of revenue and ASC 606 see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2023 Form 10-K.
For the Three Months Ended
For the Six Months Ended
 December 31, December 31,
(Dollars in thousands)2023202220232022
Advisory fee income$7,362 $6,983 $15,581 $13,942 
Broker-dealer clearing fees6,068 4,425 11,603 9,658 
Deposit service fees2,414 2,202 3,094 3,308 
Card fees732 2,144 1,414 2,933 
Bankruptcy trustee and fiduciary service fees1,397 2,167 2,791 2,940 
    Non-interest income (in-scope of ASC 606)17,973 17,921 34,483 32,781 
    Non-interest income (out-of-scope of ASC 606)106,156 10,408 124,153 22,756 
    Total non-interest income$124,129 $28,329 $158,636 $55,537