Axos Financial, Inc. 8-K

What Happened
On April 22, 2026, Axos Bank (a subsidiary of Axos Financial, Inc.) entered into a purchase and assumption agreement with Capital One, National Association to acquire individual retirement accounts (IRAs) with an aggregate balance of approximately $3.2 billion. The Bank will receive cash for the aggregate deposit balance of the acquired IRAs, less a negotiated premium. The transaction is subject to approval by the Office of the Comptroller of the Currency (OCC) and is expected to close later in calendar year 2026. The full agreement is attached to the 8-K as Exhibit 99.1.

Key Details

• Agreement date: April 22, 2026. Parties: Axos Bank and Capital One, N.A.
• Target: IRAs with ~ $3.2 billion in aggregate deposits held in related savings and certificate of deposit accounts.
• Consideration: Axos Bank will receive cash equal to the deposit balances less a negotiated premium.
• Closing: Subject to OCC approval; expected to close later in 2026.

Why It Matters
This deal would add roughly $3.2 billion of deposits to Axos Bank’s balance sheet if completed, increasing its funding base and customer deposit balances. The filing does not disclose the negotiated premium amount, exact purchase price, or pro forma financial impact, so investors should watch for future disclosures (regulatory approval, purchase price, and expected effects on capital, liquidity, and net interest margin).