Axos Financial Completes Purchase of $1.9B IRA Deposits from Capital One

What Happened

• Axos Financial, Inc. (through its subsidiary Axos Bank) announced on September 21, 2026 that it completed a previously announced acquisition of individual retirement accounts (IRAs) and their associated savings and certificate of deposit accounts from Capital One, National Association.
• Under the Purchase and Assumption Agreement dated April 22, 2026, the Bank acquired approximately $1.9 billion of IRA deposits and received cash for the aggregate deposit balance, less a negotiated premium.

Key Details

• Transaction completion date: September 21, 2026 (reported on Form 8‑K).
• Deposit amount acquired: approximately $1.9 billion in IRA-related deposits.
• Structure: Purchase and Assumption Agreement (dated April 22, 2026); cash consideration received for balances net of a negotiated premium.
• Reporting: The Agreement was previously filed as an exhibit to Axos Financial’s April 23, 2026 Form 8‑K and the current filing references that exhibit.

Why It Matters

• This transaction increases Axos Bank’s deposit base by about $1.9 billion of IRA funds, which can affect the company’s funding mix and liquidity.
• For investors, changes in deposit balances and their cost (including any premium paid) can influence net interest margin and capital management; the company’s prior filing contains the detailed agreement terms for further review.