Axos Financial, Inc. 8-K

What Happened

• On February 12, 2026, Axos Bank (a subsidiary of Axos Financial, Inc.) entered into a purchase and assumption agreement with SMBC MANUBANK to acquire all United States consumer deposits of Jenius Bank.
• The deposits to be acquired are estimated at approximately $2.6 billion at closing. Under the agreement the Bank will receive cash for the deposit balances acquired, less a negotiated premium. The transaction is subject to approval by the Office of the Comptroller of the Currency and is expected to close in late March 2026 or April 2026. The full agreement is attached to the filing as Exhibit 99.1.

Key Details

• Agreement date: February 12, 2026.
• Estimated deposits acquired: ~$2.6 billion.
• Consideration: Cash paid for deposit balances, reduced by a negotiated premium.
• Closing: Subject to OCC approval; expected in late March 2026 or April 2026.

Why It Matters

• This deal would increase Axos Bank’s consumer deposit base by roughly $2.6 billion, expanding its funding and customer relationships.
• The filing does not disclose full financial terms beyond the cash-for-deposits structure and negotiated premium; investors should watch for future filings with detailed financial impact and any regulatory updates related to the OCC approval.