AXOS FINANCIAL, INC., 10-Q filed on 10/30/2025
Quarterly Report
v3.25.3
Cover Page - shares
 3 Months Ended
Sep. 30, 2025
Oct. 17, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 001-37709  
Entity Registrant Name AXOS FINANCIAL, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 33-0867444  
Entity Address, Address Line One 9205 West Russell Road, Suite 400  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 89148  
City Area Code 858  
Local Phone Number 649-2218  
Title of 12(b) Security Common stock, $0.01 par value  
Trading Symbol AX  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   56,644,002
Entity Central Index Key 0001299709  
Current Fiscal Year End Date --06-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
ASSETS    
Cash and cash equivalents $ 2,560,692 $ 1,933,845
Restricted cash 324,903 242,509
Total cash, cash equivalents and restricted cash 2,885,595 2,176,354
Trading securities 533 649
Available-for-sale securities 57,798 66,008
Stock of regulatory agencies 35,299 35,163
Loans held for sale, carried at fair value 12,202 10,012
Loans—net of allowance for credit losses of $307,431 as of September 30, 2025 and $290,049 as of June 30, 2025 22,635,137 21,049,610
Servicing rights, carried at fair value 26,243 27,218
Securities borrowed 182,518 139,396
Customer, broker-dealer and clearing receivables 263,095 252,720
Goodwill and other intangible assets—net 205,747 134,502
Other assets 1,127,650 891,446
TOTAL ASSETS 27,431,817 24,783,078
Deposits:    
Non-interest-bearing 3,387,318 3,040,696
Interest bearing 18,877,435 17,788,847
Total deposits 22,264,753 20,829,543
Advances from the Federal Home Loan Bank 60,000 60,000
Secured financings 782,423 0
Borrowings, subordinated notes and debentures 510,064 312,671
Securities loaned 204,620 139,426
Customer, broker-dealer and clearing payables 385,821 350,606
Accounts payable and other liabilities 431,015 410,155
Total liabilities 24,638,696 22,102,401
COMMITMENTS AND CONTINGENCIES (Note 10)
STOCKHOLDERS’ EQUITY:    
Common stock—$0.01 par value; 150,000,000 shares authorized; 71,356,152 shares issued and 56,643,547 shares outstanding as of September 30, 2025; 71,101,642 shares issued and 56,483,617 shares outstanding as of June 30, 2025 714 711
Additional paid-in capital 557,740 548,895
Accumulated other comprehensive income (loss)—net of income tax 64 348
Retained earnings 2,730,877 2,618,525
Treasury stock, at cost; 14,712,605 shares as of September 30, 2025 and 14,618,025 shares as of June 30, 2025 (496,274) (487,802)
Total stockholders’ equity 2,793,121 2,680,677
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 27,431,817 $ 24,783,078
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
ASSETS    
Allowance for loan and lease losses $ 307,431 $ 290,049
STOCKHOLDERS’ EQUITY:    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 150,000,000 150,000,000
Common stock, issued (in shares) 71,356,152 71,101,642
Common stock, shares outstanding (in shares) 56,643,547 56,483,617
Treasury stock, at cost (in shares) 14,712,605 14,618,025
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
INTEREST AND DIVIDEND INCOME:    
Loans, including fees $ 429,575 $ 438,229
Securities borrowed and customer receivables 6,777 6,271
Investments and other 29,384 39,762
Total interest and dividend income 465,736 484,262
INTEREST EXPENSE:    
Deposits 169,364 187,269
Advances from the Federal Home Loan Bank 313 529
Securities loaned 285 540
Other borrowings 4,724 3,876
Total interest expense 174,686 192,214
Net interest income 291,050 292,048
Provision for credit losses 17,255 14,000
Net interest income, after provision for credit losses 273,795 278,048
NON-INTEREST INCOME:    
Broker-dealer fee income 10,948 11,060
Advisory fee income 8,525 7,945
Banking and service fees 10,820 8,613
Mortgage banking and servicing rights income 1,395 450
Prepayment penalty fee income 652 541
Total non-interest income 32,340 28,609
NON-INTEREST EXPENSE:    
Salaries and related costs 76,605 74,293
Data and operational processing 22,057 18,985
Depreciation and amortization 8,341 7,450
Advertising and promotional 12,207 14,253
Professional services 13,333 9,895
Occupancy and equipment 4,620 4,318
FDIC and regulatory fees 5,619 5,956
Broker-dealer clearing charges 4,203 4,307
General and administrative expense 9,261 8,008
Total non-interest expense 156,246 147,465
INCOME BEFORE INCOME TAXES 149,889 159,192
INCOME TAXES 37,537 46,852
NET INCOME $ 112,352 $ 112,340
Basic earnings per common share (in dollars per share) $ 1.99 $ 1.97
Diluted earnings per common share (in dollars per share) $ 1.94 $ 1.93
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]    
NET INCOME $ 112,352 $ 112,340
Net unrealized gain (loss) from available-for-sale securities, net of income tax 254 1,319
Net unrealized gain (loss) on cash flow hedges, net of income tax (538) 382
Other comprehensive income (loss) (284) 1,701
COMPREHENSIVE INCOME $ 112,068 $ 114,041
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss), Net of Income Tax
Retained Earnings
Common stock, issued, beginning balance (in shares) at Jun. 30, 2024   70,221,632        
Common stock, treasury, beginning balance (in shares) at Jun. 30, 2024     (13,327,067)      
Common stock, outstanding, beginning balance (in shares) at Jun. 30, 2024   56,894,565        
Stockholder's equity, beginning balance at Jun. 30, 2024 $ 2,290,596 $ 702 $ (403,489) $ 510,232 $ (2,466) $ 2,185,617
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 112,340         112,340
Other comprehensive income (loss) 1,701       1,701  
Stock-based compensation activity, issued (in shares)   340,701        
Stock-based compensation activity, treasury (in shares)     (143,050)      
Stock-based compensation activity, outstanding (in shares)   197,651        
Stock-based compensation activity 1,091 $ 4 $ (9,476) 10,563    
Common stock, issued, ending balance (in shares) at Sep. 30, 2024   70,562,333        
Common stock, treasury, ending balance (in shares) at Sep. 30, 2024     (13,470,117)      
Common stock, outstanding, ending balance (in shares) at Sep. 30, 2024   57,092,216        
Stockholder's equity, ending balance at Sep. 30, 2024 $ 2,405,728 $ 706 $ (412,965) 520,795 (765) 2,297,957
Common stock, issued, beginning balance (in shares) at Jun. 30, 2025 71,101,642 71,101,642        
Common stock, treasury, beginning balance (in shares) at Jun. 30, 2025 (14,618,025)   (14,618,025)      
Common stock, outstanding, beginning balance (in shares) at Jun. 30, 2025 56,483,617 56,483,617        
Stockholder's equity, beginning balance at Jun. 30, 2025 $ 2,680,677 $ 711 $ (487,802) 548,895 348 2,618,525
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 112,352         112,352
Other comprehensive income (loss) (284)       (284)  
Stock-based compensation activity, issued (in shares)   254,510        
Stock-based compensation activity, treasury (in shares)     (94,580)      
Stock-based compensation activity, outstanding (in shares)   159,930        
Stock-based compensation activity $ 376 $ 3 $ (8,472) 8,845    
Common stock, issued, ending balance (in shares) at Sep. 30, 2025 71,356,152 71,356,152        
Common stock, treasury, ending balance (in shares) at Sep. 30, 2025 (14,712,605)   (14,712,605)      
Common stock, outstanding, ending balance (in shares) at Sep. 30, 2025 56,643,547 56,643,547        
Stockholder's equity, ending balance at Sep. 30, 2025 $ 2,793,121 $ 714 $ (496,274) $ 557,740 $ 64 $ 2,730,877
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 112,352 $ 112,340
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,341 7,450
Other accretion and amortization (21,699) (37,358)
Stock-based compensation expense 10,826 10,239
Trading activity 116 (241)
Provision for credit losses 17,255 14,000
Deferred income taxes 38,919 464
Origination of loans held for sale (47,122) (69,570)
Unrealized and realized gains on loans held for sale (783) (2,881)
Proceeds from sale of loans held for sale 44,922 74,532
Change in the fair value of servicing rights 1,207 1,765
Gain on repurchase of subordinated notes 0 (604)
Net change in assets and liabilities which provide (use) cash:    
Securities borrowed (43,122) (17,114)
Customer, broker-dealer and clearing receivables (10,375) (22,746)
Other assets (52,699) 4,243
Securities loaned 65,194 21,706
Customer, broker-dealer and clearing payables 35,215 14,858
Accounts payable and other liabilities (40,114) (40,295)
Net cash provided by operating activities 118,433 70,788
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale securities 0 (16,000)
Proceeds from sale and repayment of available-for-sale securities 8,569 21,564
Purchase of stock of regulatory agencies 0 (12,446)
Net change in loans held for investment (637,164) (48,333)
Proceeds from sale of loans originally classified as held for investment 82,304 27,800
Proceeds from sale of other real estate owned and repossessed assets 260 2,202
Acquisition of business, net of cash acquired (474,448) 0
Purchases of furniture, equipment, software and intangibles (9,149) (17,770)
Purchases of other investments (3,826) (2,558)
Distributions received from other investments 75 0
Net cash used in investing activities (1,033,379) (45,541)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 1,435,210 614,112
Payments related to settlement of restricted stock units (8,473) (9,476)
Repurchase of subordinated notes 0 (11,803)
Payment of debt issuance costs (2,550) 0
Proceeds from issuance of subordinated notes 200,000 0
Net cash provided by financing activities 1,624,187 592,833
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 709,241 618,080
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year 2,176,354 2,185,776
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period 2,885,595 2,803,856
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid on interest-bearing liabilities 173,499 192,306
Income taxes paid 79,736 40,158
Transfers to other real estate and repossessed vehicles from loans held for investment 493 585
Transfers from loans held for investment to loans held for sale 82,279 28,140
Transfers from loans held for sale to loans held for investment 537 0
Operating lease liabilities from obtaining right of use assets 0 212
Non-cash Contingent Consideration $ 30,810 $ 0
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The condensed consolidated financial statements include the accounts of Axos Financial, Inc. and its wholly owned subsidiaries (“Axos” or the “Company”). Axos Bank (the “Bank”), its wholly owned subsidiaries, the activities of three lending-related trust entities and certain other lending activity constitute the Banking Business Segment, and Axos Securities, LLC and its wholly owned subsidiaries constitute the Securities Business Segment. All significant intercompany balances and transactions have been eliminated in consolidation. The Notes to the Condensed Consolidated Financial Statements are an integral part of the Company’s financial statements. On December 7, 2023, the Company acquired from the Federal Deposit Insurance Corporation (“FDIC”) two loan portfolios with an aggregate unpaid principal balance of $1.3 billion at a 37% discount to par. For additional information on the “FDIC Loan Purchase,” see Note 2—“Acquisitions” in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (“2025 Form 10-K”) filed with the Securities and Exchange Commission (“SEC”).
The accompanying interim condensed consolidated financial statements, presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), are unaudited and reflect all adjustments which, in the opinion of management, are necessary for a fair statement of financial condition and results of operations for the interim periods. All adjustments are of a normal and recurring nature. Results for the three months ended September 30, 2025 are not necessarily indicative of results that may be expected for any other interim period or for the year as a whole. Certain information and note disclosures normally included in the audited annual financial statements prepared in accordance with GAAP have been condensed or not repeated herein pursuant to the rules and regulations of the SEC with respect to interim financial reporting. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended June 30, 2025 included in the 2025 Form 10-K.
Significant Accounting Policies
For further information regarding the Company’s significant accounting policies, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2025 Form 10-K. During the three months ended September 30, 2025, there were no significant updates to the Company’s significant accounting policies, other than as noted below and the adoption of the accounting standards noted herein.
New Accounting Standards
Recently Adopted Accounting Standards
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, which requires further granularity on the disclosure of income taxes, including:
•Certain prescribed line items in the income tax rate reconciliation presented both in dollar and percentage terms;
•Income taxes paid, income before income taxes and income taxes disaggregated by federal, state and foreign taxes; and
•Further disaggregation of income taxes paid by any individual jurisdiction equal to or exceeding five percent of total income taxes paid.
The Company adopted this standard as of July 1, 2025 and the required annual-only disclosures will be provided in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026. There was no impact on the Company’s financial condition or results of operations upon adoption.
Accounting Standards Issued But Not Yet Adopted
In November 2024, the FASB issued ASU 2024-03, which requires disaggregation of operating expenses by relevant expense caption on the statement of income into prescribed categories, including employee compensation, depreciation and intangible asset amortization. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company does not expect any significant impact on its financial condition or results of operations upon adoption.
In September 2025, the FASB issued ASU 2025‑06, which amends certain aspects of the accounting for and disclosure of internal-use software costs. Among other things, the standard requires capitalization only after management authorizes and commits to funding a project and it is probable the project will be completed and used as intended. The standard is effective for all entities for annual reporting periods beginning after December 15, 2027, and for interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating how it plans to adopt this accounting standard from the three available adoption alternatives provided in the ASU.
v3.25.3
ACQUISITIONS
 3 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
Verdant Commercial Capital, LLC. On September 30, 2025, the Company completed the acquisition of 100% of the membership interests in Verdant Commercial Capital, LLC (“Verdant”) in an all-cash transaction, which increases the Company’s scale and enhances the Company’s existing equipment leasing business.
The following table presents the purchase price for the acquisition of Verdant as of September 30, 2025:
(Dollars in thousands)
Adjusted Verdant book value1
$39,301 
Purchase price premium paid by Axos
3,930 
PURCHASE PRICE$43,231 
1 Represents August 31, 2025 Verdant book value adjusted for certain items, including provision for credit losses and debt prepayment fees, according to the terms of the acquisition agreement.
In the transaction the Company acquired approximately $1.2 billion of loans and leases, including direct financing leases and equipment under operating lease arrangements. Total consideration for the transaction was approximately $571.8 million, comprising $500.0 million to settle certain debt of Verdant, cash of $41.0 million, and potential performance-based cash consideration (“Contingent Consideration”), which was determined to have a fair value of $30.8 million as of September 30, 2025. This Contingent Consideration can be earned over a four-year period commencing with the date of acquisition, and the potential payment of which ranges from zero to $50.0 million based on the return on equity of Verdant. This Contingent Consideration is included in “Accounts payable and other liabilities” in the Consolidated Balance Sheet. For additional information related to the Contingent Consideration, see Note 3—“Fair Value.”
Upon acquisition, the assets and liabilities of Verdant were adjusted to their respective fair values (with the exception of purchased credit deteriorated (“PCD”) assets, as further discussed below) as of the closing date of the transaction, including the identifiable intangible assets acquired. Goodwill has been recorded representing the excess of the purchase price over the fair value of the net assets acquired and is expected to be fully tax-deductible. The goodwill recognized is the result of expected synergies and operational efficiencies, among other factors, and has been assigned to the Banking Business Segment. The Company’s accounting for the acquisition has not been finalized as the Company continues to evaluate the post-closing adjustment amount, which is expected to have an insignificant effect on the value of the goodwill recognized as of September 30, 2025. The allocation will be updated, if necessary, through the measurement period, which ends no later than one year from the acquisition date.
The following table provides the Verdant preliminary purchase consideration allocation as of the date of acquisition:
(Dollars in thousands)
September 30, 2025
ASSETS:
Cash and cash equivalents$31,635 
Restricted cash
34,924 
Loans—net of allowance for credit losses of $7,795
1,020,322 
Other assets1
223,842 
Goodwill and other intangible assets—net
72,767 
TOTAL ASSETS$1,383,490 
LIABILITIES:
Secured financings
$782,423 
Accounts payable and other liabilities29,250 
TOTAL LIABILITIES$811,673 
TOTAL CONSIDERATION (Including $500.0 million to settle certain debt of Verdant and $30.8 million of Contingent Consideration)
$571,817 
Amount paid to settle certain debt of Verdant, excluding $2.2 million of transaction costs included in the purchase price
(497,776)
Contingent Consideration
(30,810)
PURCHASE PRICE
$43,231 
1 Includes $212.6 million of equipment under operating lease arrangements.
The fair value estimates used in valuing certain acquired assets and liabilities are based, in part, on inputs that are unobservable. For loans, these include, but are not limited to, forecasted future cash flows and discount rates and for equipment under operating lease arrangements, cost and market valuation approaches were utilized.
The following table details the intangible assets acquired in the acquisition:
(Dollars in thousands)September 30, 2025
Weighted-Average Life (Years)
Vendor relationships
$11,200 13.6
Trade name
2,600 5.0
Developed technologies
5,100 3.0
Total intangible assets acquired
$18,900 9.6

The following valuation approaches were utilized to estimate the acquisition-date fair value for the intangible assets acquired:
•Vendor relationships: Fair value was estimated with an income approach using a multi-period excess earnings method which discounts expected future cash flows, taking into account historic customer attrition rates and contributory asset charges, among other factors.
•Trade name: Fair value was estimated with an income approach using a relief-from-royalty method which considers the hypothetical royalty rate the Company would have paid if it did not own the trade name, taking into account discounted expected future cash flows, market royalty rates and expected useful life, among other factors.
•Developed technologies: Fair value was estimated with a cost approach using a replacement cost methodology, taking into account replacement costs, among other factors.
The following table summarizes the PCD loans and leases acquired in the acquisition:
(Dollars in thousands)September 30, 2025
Unpaid principal balance
$211,002 
Non-credit discount
(342)
Allowance for credit losses at acquisition(7,795)
Purchase price allocated to PCD assets$202,865 
Verdant’s results are included in the Company’s consolidated results from September 30, 2025. Verdant net revenue included in Company’s Condensed Consolidated Statement of Income for the three months ended September 30, 2025 was not significant and Verdant incurred a net loss of $5.8 million for the three months ended September 30, 2025, reflecting the post-acquisition provision for credit losses on the loans and leases acquired.
The following table shows the Company and Verdant proforma combined net interest income, non-interest income and net income. The proforma financial information presented in the table below was computed by combining the historical financial information of the Company and Verdant along with the effects of the acquisition method of accounting for business combinations as though the Company acquired Verdant on July 1, 2024. Also included in the proforma financial information are certain adjustments, including $1.3 million of acquisition-related costs, as well as adjustments related to amortization expense of the intangible assets acquired in the Verdant acquisition and the elimination of the amortization expense of Verdant’s intangible assets prior to its acquisition by the Company. The proforma information does not reflect the potential benefits of cost and funding synergies, opportunities to earn additional revenues or other factors and therefore does not represent what the actual net revenues and net income would have been had the Company actually acquired Verdant as of this date.
Three Months Ended
(Dollars in thousands)September 30, 2025September 30, 2024
Net interest income
297,473 295,460 
Non-interest income
35,340 31,365 
Net income
104,433 106,718 
v3.25.3
FAIR VALUE
 3 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
The following tables set forth the Company’s financial assets and liabilities measured at fair value on a recurring basis at September 30, 2025 and June 30, 2025. Assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement:
September 30, 2025
(Dollars in thousands)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
ASSETS:
Trading securities$533 $— $533 
Available-for-sale securities:
Agency MBS46,606 — 46,606 
Non-Agency MBS— 11,192 11,192 
Municipal— — — 
Total—Available-for-sale securities:$46,606 $11,192 $57,798 
Loans held for sale$12,202 $— $12,202 
Servicing rights$— $26,243 $26,243 
Other assets—Derivative instruments1
$17,892 $— $17,892 
LIABILITIES:
Accounts payable and other liabilities—Derivative instruments$64,619 $— $64,619 
Accounts payable and other liabilities—Contingent Consideration
$— $30,810 $30,810 
June 30, 2025
(Dollars in thousands)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
ASSETS:
Trading securities$649 $— $649 
Available-for-sale securities:
Agency MBS46,757 — 46,757 
Non-Agency MBS— 15,569 15,569 
Municipal3,682 — 3,682 
Total—Available-for-sale securities:$50,439 $15,569 $66,008 
Loans held for sale$10,012 $— $10,012 
Servicing rights$— $27,218 $27,218 
Other assets—Derivative instruments1
$17,734 $— $17,734 
LIABILITIES:
Accounts payable and other liabilities—Derivative instruments$68,498 $— $68,498 
1 Other assets - Derivative instruments are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.

The following section describes the valuation methodologies used by the Company to measure various financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. For additional information on the other valuation methodologies used by the Company, see Note 3—“Fair Value” in the 2025 Form 10-K.
Contingent Consideration. The fair value of the Contingent Consideration liability is determined using a Nelson-Siegel stochastic simulation, which models various scenarios based on business forecasts, including monthly asset growth of the Verdant business and other inputs in accordance with the terms of the agreement. The resulting simulated cash flows are then discounted to present value and averaged to determine fair value.
The following tables present additional information about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
For the Three Months Ended
September 30, 2025
(Dollars in thousands)Available-for-sale Securities:
Non-Agency MBS
Servicing Rights1
Accounts payable and other liabilities—Contingent Consideration
Total
Opening balance$15,569 $27,218 $— $42,787 
Total gains or losses for the period:
Included in earnings—Mortgage banking and servicing rights income— (1,189)— (1,189)
Included in other comprehensive income116 — — 116 
Purchases, retentions, issues, sales and settlements:
Purchases/Retentions— 214 30,810 31,024 
Settlements(4,493)— — (4,493)
Closing balance$11,192 $26,243 $30,810 $68,245 
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $(1,189)$— $(1,189)
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $0.4 million for the three months ended September 30, 2025, and a decrease in servicing rights value resulting from market-driven changes in interest rates of $0.8 million for the three months ended September 30, 2025. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale.

For the Three Months Ended
September 30, 2024
(Dollars in thousands)Available-for-sale Securities:
Non-Agency MBS
Servicing Rights1
Total
Opening balance$110,928 $28,924 $139,852 
Total gains or losses for the period:
Included in earnings—Mortgage banking and servicing rights income— (1,852)(1,852)
Included in other comprehensive income782 — 782 
Purchases, retentions, issues, sales and settlements:
Purchases/Retentions— 263 263 
Settlements(20,401)— (20,401)
Closing balance$91,309 $27,335 $118,644 
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $(1,852)$(1,852)
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $0.2 million for the three months ended September 30, 2024 and a decrease in servicing rights value resulting from market-driven changes in interest rates of $1.6 million for the three months ended September 30, 2024. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale.
The table below summarizes the quantitative information about Level 3 fair value measurements:
September 30, 2025
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input
Range (Weighted Average)1
Available-for-sale securities: Non-Agency MBS$11,192 Discounted Cash FlowProjected Constant Prepayment Rate,
Projected Constant Default Rate,
Projected Loss Severity,
Discount Rate over SOFR Swaps,
Credit Enhancement
2.5 to 30.0% (20.1%)
1.5 to 9.9% (6.1%)
35.0 to 68.9% (46.6%)
2.5 to 4.3% (2.8%)
0.0 to 65.6% (41.8%)
Servicing Rights$26,243 Discounted Cash FlowProjected Constant Prepayment Rate,
Life (in years),
Discount Rate
5.2 to 28.7% (10.3%)
2.2 to 12.7 (8.9)
9.5 to 11.2% (9.8%)
Accounts payable and other liabilities—Contingent Consideration
$30,810 
Nelson-Siegal Stochastic Model
Monthly Asset Growth,
Credit Spread
(7.4)% to 14.5% (3.6%)
2.9% to 2.9% (2.9%)
June 30, 2025
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input
Range (Weighted Average)1
Available-for-sale securities: Non-Agency MBS$15,569 Discounted Cash FlowProjected Constant Prepayment Rate,
Projected Constant Default Rate,
Projected Loss Severity,
Discount Rate over SOFR Swaps,
Credit Enhancement
2.5 to 30.0% (22.4%)
1.5 to 11.9% (8.7%)
35.0 to 68.9% (43.4%)
2.5 to 4.1% (2.7%)
0.0 to 99.0% (22.8%)
Servicing Rights$27,218 Discounted Cash FlowProjected Constant Prepayment Rate,
Life (in years),
Discount Rate
5.2 to 26.6% (9.7%)
2.5 to 12.8 (9.3)
9.5 to 11.2% (9.8%)
1 The weighted average for Available-for-sale securities: Non-agency MBS is based on the relative fair value of the securities, for Servicing Rights is based on the relative unpaid principal of the loans being serviced and for Accounts payable and other liabilities—Contingent Consideration.is based on annual projected consideration.
For non-agency mortgage-backed securities, a significant increase (decrease) in default rate, loss severity (potentially offset by the level of credit enhancement) or discount rate in isolation would result in a significantly lower (higher) fair value measurement, while a significant increase in the voluntary prepayment rate would result in a significant increase in fair value if the security is valued below par value, or a significant decrease in fair value if the security is valued above par value. Generally, a change in the assumptions used for the default rate is accompanied by a directionally opposite change in the assumption used for the voluntary prepayment rate.
For servicing rights, significant increases in the voluntary prepayment rate or discount rate in isolation would result in a significantly lower fair value measurement, while a significant increase in expected life in isolation would result in a significantly higher fair value measurement. Generally, a change in the voluntary prepayment rate is accompanied by a directionally opposite change in expected life.
For the Contingent Consideration, a significant increase (decrease) in the asset growth in isolation would result in a significantly higher (lower) fair value measurement, and a significant increase (decrease) in the discount rate in isolation would result in a significantly lower (higher) fair value measurement.
The aggregate fair value of loans held for sale, carried at fair value, the contractual balance (including accrued interest), and the unrealized gain were:
(Dollars in thousands)September 30, 2025June 30, 2025
Aggregate fair value$12,202 $10,012 
Contractual balance11,931 9,870 
Unrealized gain$271 $142 
The total interest income and amount of gains and losses from changes in fair value included in earnings for loans held for sale, carried at fair value, were:
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Interest income$181 $288 
Change in fair value540 17 
Total $721 $305 
Fair Value of Financial Instruments
Carrying amounts and estimated fair values of financial instruments at September 30, 2025 and June 30, 2025 were:
September 30, 2025
Fair Value
(Dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total Fair Value
Financial assets:
Cash, cash equivalents and restricted cash
$2,885,595 $2,885,595 $— $— $2,885,595 
Trading securities
533 — 533 — 533 
Available-for-sale securities
57,798 — 46,606 11,192 57,798 
Stock of regulatory agencies35,299 — 35,299 — 35,299 
Loans held for sale, at fair value12,202 — 12,202 — 12,202 
Loans held for investment—net22,635,137 — — 22,879,586 22,879,586 
Securities borrowed182,518 — — 180,783 180,783 
Customer, broker-dealer and clearing receivables263,095 — — 261,446 261,446 
Servicing rights
26,243 — — 26,243 26,243 
Other assets - derivative instruments1
17,892 — 17,892 — 17,892 
Financial liabilities:
Total deposits22,264,753 — 21,943,152 — 21,943,152 
Advances from the Federal Home Loan Bank60,000 — 57,203 — 57,203 
Secured financings
782,423 — 782,423 — 782,423 
Borrowings, subordinated notes and debentures510,064 — 490,626 — 490,626 
Securities loaned204,620 — — 203,553 203,553 
Customer, broker-dealer and clearing payables385,821 — — 385,821 385,821 
Accounts payable and other liabilities - derivative instruments
64,619 — 64,619 — 64,619 
Accounts payable and other liabilities—Contingent Consideration
30,810 — — 30,810 30,810 
June 30, 2025
Fair Value
(Dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total Fair Value
Financial assets:
Cash, cash equivalents and restricted cash
$2,176,354 $2,176,354 $— $— $2,176,354 
Trading securities
649 — 649 — 649 
Available-for-sale securities
66,008 — 50,439 15,569 66,008 
Stock of regulatory agencies
35,163 — 35,163 — 35,163 
Loans held for sale, at fair value10,012 — 10,012 — 10,012 
Loans held for investment—net21,049,610 — — 21,288,921 21,288,921 
Securities borrowed139,396 — — 138,103 138,103 
Customer, broker-dealer and clearing receivables252,720 — — 251,126 251,126 
Servicing rights
27,218 — — 27,218 27,218 
Other assets - derivative instruments1
17,734 — 17,734 — 17,734 
Financial liabilities:
Total deposits20,829,543 — 20,642,953 — 20,642,953 
Advances from the Federal Home Loan Bank60,000 — 56,934 — 56,934 
Borrowings, subordinated notes and debentures312,671 — 285,282 — 285,282 
Securities loaned139,426 — — 138,698 138,698 
Customer, broker-dealer and clearing payables350,606 — — 350,606 350,606 
Accounts payable and other liabilities - derivative instruments
68,498 — 68,498 — 68,498 
1 Other assets - derivative assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
The carrying amount represents the estimated fair value for cash, cash equivalents and restricted cash, stock of regulatory agencies, interest-bearing deposits, accrued interest receivable and payable, demand deposits, short-term debt, and variable rate loans or deposits that reprice frequently and fully. For fixed rate loans, deposits, borrowings or subordinated debt and for variable rate loans, deposits, borrowings or subordinated debt with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. A discussion of the methods of valuing trading securities, available-for-sale securities, loans held for sale and derivatives can be found in Note 3—“Fair Value” in the 2025 Form 10-K. The fair value of off-balance sheet items is not considered material.
v3.25.3
AVAILABLE-FOR-SALE SECURITIES
 3 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
AVAILABLE-FOR-SALE SECURITIES AVAILABLE-FOR-SALE SECURITIES
The amortized cost and fair value of available-for-sale securities were:
September 30, 2025
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$47,845 $389 $(1,628)$46,606 
Non-agency2
9,901 1,330 (39)11,192 
Total mortgage-backed securities57,746 1,719 (1,667)57,798 
Total available-for-sale securities
$57,746 $1,719 $(1,667)$57,798 
June 30, 2025
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$48,229 $327 $(1,799)$46,757 
Non-agency2
14,395 1,232 (58)15,569 
Total mortgage-backed securities62,624 1,559 (1,857)62,326 
Municipal3,682 — — 3,682 
Total available-for-sale securities
$66,306 $1,559 $(1,857)$66,008 
1 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.
2 Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by prime, Alt-A or pay-option adjustable rate mortgages.
The Company evaluates available-for-sale securities in an unrealized loss position based on an analysis of a number of factors, including, but not limited to: (1) the credit characteristics of the securities, such as the forecasted cash flows, credit ratings, credit enhancement, and government agency or government-sponsored enterprise backing, as applicable; and (2) whether the Company intends to sell or will be required to sell any of the securities before recovering the amortized cost basis. Based on its analysis, the Company determined the unrealized losses on available-for-sale securities are primarily driven by the increase in interest rates since the securities were purchased, and accordingly no credit losses were recognized on available-for-sale securities in the three months ended September 30, 2025 and September 30, 2024. There was no amount in the allowance for credit losses for available-for-sale securities at September 30, 2025 and June 30, 2025.
The face amounts of available-for-sale securities pledged to secure borrowings were $0.6 million and $0.6 million as of September 30, 2025 and June 30, 2025.
There were no sales of available-for-sale securities during the three months ended September 30, 2025.
Securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were:
September 30, 2025
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$106 $(1)$16,034 $(1,627)$16,140 $(1,628)
Non-agency2,099 (21)199 (18)2,298 (39)
Total MBS2,205 (22)16,233 (1,645)18,438 (1,667)
Total available-for-sale securities
$2,205 $(22)$16,233 $(1,645)$18,438 $(1,667)
June 30, 2025
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$108 $— $16,212 $(1,799)$16,320 $(1,799)
Non-agency2,138 (43)10,695 (15)12,833 (58)
Total MBS2,246 (43)26,907 (1,814)29,153 (1,857)
Total available-for-sale securities
$2,246 $(43)$26,907 $(1,814)$29,153 $(1,857)
The following table sets forth the expected maturity distribution of our mortgage-backed securities, which is based on assumed prepayment rates, and the maturity distribution of our non-MBS, which is based on the contractual maturity:
As of September 30, 2025
(Dollars in thousands)Total AmountDue Within One YearDue after One but within Five YearsDue after Five but within Ten YearsDue After Ten Years
MBS:
Agency$47,845 $11,999 $29,382 $4,746 $1,718 
Non-Agency$9,901 $6,698 $1,470 $1,115 $618 
Total MBS$57,746 $18,697 $30,852 $5,861 $2,336 
Available-for-sale—Amortized cost
$57,746 $18,697 $30,852 $5,861 $2,336 
Available-for-sale—Fair value$57,798 $18,655 $30,681 $6,017 $2,445 
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES
 3 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
LOANS & ALLOWANCE FOR CREDIT LOSSES LOANS & ALLOWANCE FOR CREDIT LOSSES
The Company categorizes the loan portfolio into five segments: Single Family - Mortgage & Warehouse, Multifamily and Commercial Mortgage, Commercial Real Estate, Commercial & Industrial - Non Real Estate (“Non-RE”) and Auto & Consumer. For further detail of the segments of the Company’s loan portfolio, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2025 Form 10-K. The Company acquired approximately $1.0 billion of loans and leases, including $211.0 million of PCD assets, as part of the Verdant acquisition, which was completed on September 30, 2025. The loans and leases acquired in the Verdant acquisition are included in the commercial & industrial - Non-RE portfolio. For additional information on the Verdant acquisition, see Note 2, “Acquisitions.”
The following table sets forth the composition of the loan portfolio:
(Dollars in thousands)September 30, 2025June 30, 2025
Single Family - Mortgage & Warehouse$4,540,889 $4,395,278 
Multifamily and Commercial Mortgage
2,793,762 2,940,739 
Commercial Real Estate
7,295,572 6,937,187 
Commercial & Industrial - Non-RE7,980,981 6,795,497 
Auto & Consumer531,044 482,996 
Total gross loans23,142,248 21,551,697 
Allowance for credit losses - loans(307,431)(290,049)
Unaccreted premiums (discounts) and loan fees(199,680)(212,038)
Total net loans$22,635,137 $21,049,610 

Accrued interest receivable on loans held for investments totaled $120.8 million and $109.6 million as of September 30, 2025 and June 30, 2025, respectively.
At September 30, 2025 and June 30, 2025, the Company pledged certain loans totaling $4,112.0 million and $4,284.7 million, respectively, to the FHLB and $8,320.3 million and $8,227.7 million, respectively, to the Federal Reserve Bank of San Francisco (“FRBSF”).
The following table presents loan-to-value (“LTV”) for the Company’s real estate loans outstanding as of September 30, 2025:
Total Real Estate LoansSingle Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real Estate
Weighted-Average LTV48 %57 %49 %43 %
Median LTV51 %53 %47 %43 %
The following table presents the components of the provision for credit losses:
For September 30,
(Dollars in thousands)
20252024
Provision for credit losses - loans
$15,255 $11,500 
Provision for credit losses - unfunded lending commitments
2,000 2,500 
    Total provision for credit losses
$17,255 $14,000 
The following tables summarize activity in the allowance for credit losses - loans by portfolio segment:
For the Three Months Ended September 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2025
$12,109 $26,238 $113,804 $121,641 $16,257 $290,049 
Allowance for credit losses at acquisition of PCD loans
— — — 7,795 — 7,795 
Provision (benefit) for credit losses - loans(1,571)(1,037)6,549 8,856 2,458 15,255 
Charge-offs(395)(3,918)(4)(255)(1,786)(6,358)
Recoveries28 — — — 662 690 
Balance at September 30, 2025
$10,171 $21,283 $120,349 $138,037 $17,591 $307,431 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2024
$16,943 $70,771 $87,780 $76,032 $9,016 $260,542 
Provision (benefit) for credit losses - loans464 (1,806)7,252 3,555 2,035 11,500 
Charge-offs— (3,357)— (3,032)(2,849)(9,238)
Recoveries46 — — — 1,004 1,050 
Balance at September 30, 2024
$17,453 $65,608 $95,032 $76,555 $9,206 $263,854 
For the three months ended September 30, 2025, the allowance for credit losses for loans increased as a result of PCD assets acquired in the Verdant acquisition and the provision for credit losses, partially offset by net charge-offs. The provision for credit losses was primarily driven by the post-acquisition provision for credit losses on the loans and leases acquired in the Verdant acquisition, as well as loan growth and the impact of macroeconomic variables used in the allowance for credit losses model, primarily the U.S. unemployment rate, consumer price and housing price indices, as well as the five-year U.S. Treasury rate.
Loan products within each portfolio contain varying collateral types which impact the estimate of the loss given default utilized in the calculation of the allowance for credit losses for loans. For further discussion of the model method of estimating expected lifetime credit losses, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2025 Form 10-K.
The following tables present a summary of the activity in the allowance for credit losses for off-balance sheet lending commitments:
Three Months Ended September 30,
(Dollars in thousands)20252024
Balance at July 1,
$10,891 $10,223 
Provision (benefit) for credit losses - unfunded lending commitments2,000 2,500 
Balance at September 30,
$12,891 $12,723 
The increase in the allowance for off-balance sheet lending commitments for the three months ended September 30, 2025, was primarily driven by unfunded lending commitment growth, primarily in the commercial real estate and commercial & industrial - non-RE portfolios.
Credit Quality Disclosures. The following tables provide the composition of loans that are performing and nonaccrual by portfolio segment:
September 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,473,002 $2,777,715 $7,273,789 $7,918,445 $528,887 $22,971,838 
Nonaccrual67,887 16,047 21,783 62,536 2,157 170,410 
Total$4,540,889 $2,793,762 $7,295,572 $7,980,981 $531,044 $23,142,248 
Nonaccrual loans to total loans0.74 %
June 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,351,082 $2,907,702 $6,907,964 $6,733,693 $480,870 $21,381,311 
Nonaccrual44,196 33,037 29,223 61,804 2,126 170,386 
Total$4,395,278 $2,940,739 $6,937,187 $6,795,497 $482,996 $21,551,697 
Nonaccrual loans to total loans0.79 %
There were no nonaccrual loans without an allowance for credit losses as of September 30, 2025 and June 30, 2025. There was no interest income recognized on nonaccrual loans in the three months ended September 30, 2025 and 2024. Loans reaching 90 days past due are generally placed on nonaccrual status and risk rated as substandard or doubtful. Loans not yet reaching 90 days past due may be placed on nonaccrual status based on management’s assessment of the aging of contractual principal amounts due, among other factors.
Credit Quality Indicators. The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. In addition to the borrower’s primary source of repayment, in its risk rating process the Company considers all available sources of repayment, including obligor guaranties and liquidations of pledged collateral, where individually or together such sources would fully repay the loan on a timely basis. The Company analyzes loans individually by classifying the loans based on credit risk. The Company uses the following internally-defined risk ratings:
Pass. Loans where repayment in full is expected through any of the borrower’s sources of repayment.
Special Mention. Loans where any credit risk is not considered significant yet require management’s attention given certain currently identified characteristics of the borrower, collateral securing the loan and the obligor’s net worth and paying capacity. If the identified credit risks are not adequately monitored or mitigated, the loan may weaken and the Company’s credit position with respect to the loan may deteriorate in the future.
Substandard. Loans where currently identified characteristics of the borrower, collateral securing the loan and the obligor’s net worth and paying capacity, taken together, could jeopardize the repayment of the debt. A loan not fully supported by at least one available source of repayment and involves a distinct possibility that the Company will sustain some loss in that loan if the weakness is not cured. A loan supported by a guaranty, collateral sufficient to incentivize a sale or refinance, or cash flow that is sufficient for timely repayment in full will not be classified as substandard even if the loan has a well-defined weakness in other sources of repayment.
Doubtful. Loans reflecting the same characteristics as those classified as substandard, but for which repayment in full in accordance with the contractual terms is currently considered highly unlikely.
The Company reviews and grades loans following a continuous review process, featuring coverage of all loan types and business lines at least quarterly. Continuous reviewing provides more effective risk monitoring because it immediately tests for potential impacts caused by changes in personnel, policy, products or underwriting standards.
The following tables present the composition of loans by portfolio segment, fiscal year of origination and credit quality indicator, and the amount of year-to-date gross charge-offs.
September 30, 2025
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20262025202420232022Prior
Single Family-Mortgage & Warehouse
Pass$197,266 $652,424 $233,972 $426,758 $1,033,680 $1,108,076 $787,877 $4,440,053 
Special Mention— — 1,080 — 10,689 19,087 — 30,856 
Substandard— — — 4,503 11,379 54,098 — 69,980 
Doubtful— — — — — — — — 
Total197,266 652,424 235,052 431,261 1,055,748 1,181,261 787,877 4,540,889 
Year-to-date gross charge-offs— — — — 48 347 — 395 
Multifamily and Commercial Mortgage
Pass28,237 75,585 21,577 631,556 801,448 1,191,542 2,749,945 
Special Mention— — — 3,400 — 1,547 — 4,947 
Substandard— — — 8,530 17,007 13,333 — 38,870 
Doubtful— — — — — — — — 
Total28,237 75,585 21,577 643,486 818,455 1,206,422 — 2,793,762 
Year-to-date gross charge-offs— — — — — 3,918 — 3,918 
Commercial Real Estate
Pass512,926 3,112,458 1,372,529 689,214 409,209 181,498 981,352 7,259,186 
Special Mention— — — — — — — 
Substandard— — — 7,060 — 14,721 14,605 36,386 
Doubtful— — — — — — — — 
Total512,926 3,112,458 1,372,529 696,274 409,209 196,219 995,957 7,295,572 
Year-to-date gross charge-offs— — — — 4 — — 4 
Commercial & Industrial - Non-RE
Pass710,648 1,505,243 1,000,419 363,791 142,039 76,615 3,804,326 7,603,081 
Special Mention256 13,606 59,132 4,026 1,537 71 — 78,628 
Substandard81 15,849 79,036 11,936 154,289 6,185 21,284 288,660 
Doubtful— 599 4 3 10,000 6 — 10,612 
Total710,985 1,535,297 1,138,591 379,756 307,865 82,877 3,825,610 7,980,981 
Year-to-date gross charge-offs— — — — — 255 — 255 
Auto & Consumer
Pass97,082 201,753 44,395 60,552 94,988 29,414 — 528,184 
Special Mention— 290 — 332 163 53 — 838 
Substandard— 316 16 291 684 715 — 2,022 
Doubtful— — — — — — — — 
Total97,082 202,359 44,411 61,175 95,835 30,182 — 531,044 
Year-to-date gross charge-offs— 474 153 450 649 60 — 1,786 
Total
Pass1,546,159 5,547,463 2,672,892 2,171,871 2,481,364 2,587,145 5,573,555 22,580,449 
Special Mention256 13,896 60,212 7,758 12,389 20,758 — 115,269 
Substandard81 16,165 79,052 32,320 183,359 89,052 35,889 435,918 
Doubtful— 599 4 3 10,000 6 — 10,612 
Total$1,546,496 $5,578,123 $2,812,160 $2,211,952 $2,687,112 $2,696,961 $5,609,444 $23,142,248 
As a % of total gross loans6.7%24.1%12.2%9.6%11.6%11.7%24.2%100%
Year-to-date gross charge-offs$— $474 $153 $450 $701 $4,580 $— $6,358 
June 30, 2025
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20252024202320222021Prior
Single Family-Mortgage & Warehouse
Pass$750,357 $269,165 $451,330 $1,067,144 $434,352 $715,620 $599,406 $4,287,374 
Special Mention2,129 1,080 5,362 3,140 5,254 26,604 9,967 53,536 
Substandard— — — 7,255 6,720 40,393 — 54,368 
Doubtful— — — — — — — — 
Total752,486 270,245 456,692 1,077,539 446,326 782,617 609,373 4,395,278 
Year-to-date gross charge-offs— 340 — 400 — 2,296 — 3,036 
Multifamily and Commercial Mortgage
Pass75,755 22,435 632,120 859,189 422,683 842,787 1,450 2,856,419 
Special Mention— — 3,400 — 7,255 18,272 — 28,927 
Substandard— — 8,530 13,199 — 33,664 — 55,393 
Doubtful— — — — — — — — 
Total75,755 22,435 644,050 872,388 429,938 894,723 1,450 2,940,739 
Year-to-date gross charge-offs— 375 86 5 — 8,099 — 8,565 
Commercial Real Estate
Pass3,135,530 1,342,372 679,875 575,642 152,581 47,214 960,145 6,893,359 
Special Mention— — — — — — — 
Substandard— — — 9,500 5,000 14,723 14,605 43,828 
Doubtful— — — — — — — — 
Total3,135,530 1,342,372 679,875 585,142 157,581 61,937 974,750 6,937,187 
Year-to-date gross charge-offs— — — 165 — — — 165 
Commercial & Industrial - Non-RE
Pass1,231,118 809,347 310,043 120,385 38,397 28,311 3,928,415 6,466,016 
Special Mention— 45,120 — — 93 — 10,023 55,236 
Substandard3,747 10,719 9,244 135,778 2,486 2,989 99,282 264,245 
Doubtful— — — 10,000 — — — 10,000 
Total1,234,865 865,186 319,287 266,163 40,976 31,300 4,037,720 6,795,497 
Year-to-date gross charge-offs— — 883 — 5,942 — 2,000 8,825 
Auto & Consumer
Pass213,318 47,587 75,120 109,228 23,084 11,448 — 479,785 
Special Mention295 52 186 270 60 10 — 873 
Substandard154 48 365 807 549 415 — 2,338 
Doubtful— — — — — — — — 
Total213,767 47,687 75,671 110,305 23,693 11,873 — 482,996 
Year-to-date gross charge-offs589 813 2,363 3,340 797 1,813 — 9,715 
Total
Pass5,406,078 2,490,906 2,148,488 2,731,588 1,071,097 1,645,380 5,489,416 20,982,953 
Special Mention2,424 46,252 8,948 3,410 12,662 44,886 19,990 138,572 
Substandard3,901 10,767 18,139 166,539 14,755 92,184 113,887 420,172 
Doubtful— — — 10,000 — — — 10,000 
Total$5,412,403 $2,547,925 $2,175,575 $2,911,537 $1,098,514 $1,782,450 $5,623,293 $21,551,697 
As a % of total gross loans25.1%11.8%10.1%13.5%5.1%8.3%26.1%100%
Total year-to-date gross charge-offs$589 $1,528 $3,332 $3,910 $6,739 $12,208 $2,000 $30,306 
The following tables provide the aging of loans by portfolio segment:
September 30, 2025
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,450,628 $18,357 $10,377 $61,527 $4,540,889 
Multifamily and Commercial Mortgage2,774,831 3,379 2,713 12,839 2,793,762 
Commercial Real Estate7,273,849 — — 21,723 7,295,572 
Commercial & Industrial - Non-RE7,876,062 73,511 13,906 17,502 7,980,981 
Auto & Consumer524,425 4,094 1,029 1,496 531,044 
Total$22,899,795 $99,341 $28,025 $115,087 $23,142,248 
As a % of total gross loans98.95 %0.43 %0.12 %0.50 %100 %
June 30, 2025
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,322,681 $13,302 $16,395 $42,900 $4,395,278 
Multifamily and Commercial Mortgage2,870,972 36,649 549 32,569 2,940,739 
Commercial Real Estate6,900,904 — 7,060 29,223 6,937,187 
Commercial & Industrial - Non-RE
6,783,440 — — 12,057 6,795,497 
Auto & Consumer477,694 3,025 920 1,357 482,996 
Total$21,355,691 $52,976 $24,924 $118,106 $21,551,697 
As a % of total gross loans99.09 %0.25 %0.12 %0.55 %100 %
Loans reaching 90 or more days past due are generally placed on nonaccrual. As of both September 30, 2025 and June 30, 2025 there were no loans over 90 days past due and still accruing interest.
Single family mortgage loans in process of foreclosure were $36.0 million and $30.4 million as of September 30, 2025 and June 30, 2025, respectively.
v3.25.3
DERIVATIVES
 3 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES DERIVATIVES
For additional information on the Company’s derivative instruments, see Note 1—“Organizations and Summary of Significant Accounting Policies,” Note 3—“Fair Value” and Note 6—“Derivatives” in the 2025 Form 10-K and Note 3—“Fair Value” and Note 7 “Offsetting of Derivatives and Securities Financing Agreements” herein.
The following table presents the notional amounts and fair values of the Company’s derivative instruments. While the notional amounts give an indication of the volume of the Company’s derivatives activity, the notional amounts significantly exceed, in the Company’s view, the possible losses that could arise from such transactions. For most derivative contracts, the notional amount is not exchanged, rather it is a reference amount used to calculate payments.
September 30, 2025
June 30, 2025
Fair ValueFair Value
(Dollars in thousands)Notional AmountDerivative AssetsDerivative LiabilitiesNotional AmountDerivative AssetsDerivative Liabilities
Derivatives designated as hedging instruments
Interest rate contracts1
$400,000 $1,184 $— $400,000 $1,950 $— 
Derivatives not designated as hedging instruments
Interest rate contracts1
2,627,948 16,679 64,599 2,761,021 15,782 68,427 
Foreign exchange contracts9,777 29 20 9,570 2 71 
Total derivatives$3,037,725 $17,892 $64,619 $3,170,591 $17,734 $68,498 
1 Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
Derivatives designated as hedging instruments
The following table presents pre-tax gains/(losses) on derivative instruments used in cash flow hedge accounting relationships.
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Amounts recorded in other comprehensive income (“OCI”)
$374 $553 
Amounts reclassified from AOCI to income(1,118)— 
Total change in OCI for period$(744)$553 
    The Company did not experience any forecasted transactions that failed to occur during the three months ended September 30, 2025 or 2024. There are no amounts excluded from the assessment of hedge effectiveness.
As of September 30, 2025, the Company expects that approximately $1.2 million of pre-tax net gain related to cash flow hedges recorded in accumulated other comprehensive income will be recognized in income over the next 12 months. The maximum length of time over which forecasted transactions are hedged is approximately 2.0 years.
Derivatives not designated as hedging instruments
The following table presents the pre-tax gains/(losses) related to the Company’s derivative instrument activity recognized in the Condensed Consolidated Statements of Income:
For the Three Months Ended September 30,
(Dollars in thousands)
20252024
Interest rate contracts
Banking and service fees$(558)$(1,372)
Mortgage banking and servicing rights income417 (251)
Foreign exchange contracts
Banking and service fees539 — 
The aggregate foreign exchange transaction gain totaled approximately $0.5 million for the three months ended September 30, 2025, and was not significant for the three months ended September 30, 2024.
v3.25.3
OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS
 3 Months Ended
Sep. 30, 2025
Offsetting [Abstract]  
OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS
The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate and foreign exchange risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements” in the 2025 Form 10-K.
The following tables present information about the offsetting of these instruments and related collateral amounts:
September 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$182,518 $— $182,518 $182,518 $— 
Other Assets — Derivative Assets1
17,891 — 17,891 10,468 7,423 
Liabilities:
Securities loaned$204,620 $— $204,620 $204,620 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities64,618 — 64,618 6,682 57,936 
June 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$139,396 $— $139,396 $139,396 $— 
Other Assets — Derivative Assets1
17,734 — 17,734 11,174 6,560 
Liabilities:
Securities loaned$139,426 $— $139,426 $139,426 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities68,497 — 68,497 6,122 62,375 
1 Gross amounts of Other Assets - Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $5.3 million and $6.3 million as of September 30, 2025 and June 30, 2025, respectively, and cash collateral placed on Derivative Liabilities of $1.5 million and $1.3 million as of September 30, 2025 and June 30, 2025, respectively.

The securities loaned transactions represent equities with an overnight and open maturity classification as of both periods presented.
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION
 3 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION
The Company has an equity incentive plan, the Amended and Restated 2014 Stock Incentive Plan (the “2014 Plan”), which provides for the granting of non-qualified and incentive stock options, restricted stock and restricted stock units (“RSUs”), stock appreciation rights and other awards to employees, directors and consultants. The Company also has an employment agreement with its Chief Executive Officer that provides for an award of RSUs. For additional information regarding the Company’s stock-based compensation plans, see Note 16—“Stock-Based Compensation” in the 2025 Form 10-K.
At September 30, 2025, 868,891 shares of common stock were authorized for future awards under the 2014 Plan. As of September 30, 2025, the total compensation cost not yet recognized related to non-vested awards was $87.0 million, which is expected to be recognized over a weighted-average period of 1.5 years.
The following table presents the status and changes in RSUs:
RSUs
Weighted-Average
Grant-Date Fair Value
Non-vested balance at June 30, 2025
1,564,016 $55.50 
Granted385,696 90.47 
Vested(254,510)47.24 
Forfeited(26,093)57.93 
Non-vested balance at September 30, 2025
1,669,109 $64.81 
The total fair value of shares vested for the three months ended September 30, 2025 and September 30, 2024 was $22.8 million and $22.5 million, respectively.
Common Stock Repurchase Program
As of September 30, 2025, there was $148.1 million of share repurchase authorization remaining under the Compnay’s common stock repurchase program. The share repurchase program will continue in effect until terminated by the Board of Directors of the Company. There were no common stock repurchases pursuant to such program for the three months ended September 30, 2025 and 2024. For additional information regarding the Company’s share repurchase program, see Note 15—“Stockholders' Equity” in the 2025 Form 10-K.
At-the-Market Equity Offering
On January 28, 2025, the Company entered into an equity distribution agreement pursuant to which the Company may issue and sell through distribution agents from time to time shares of the Company’s common stock in at-the-market offerings with an aggregate offering price of up to $150,000,000. The Company will issue the stock pursuant to a previously effective registration statement and a prospectus supplement filed with the SEC on January 28, 2025. No shares of the Company’s common stock have been issued pursuant to this offering.
Accumulated Other Comprehensive Income
AOCI includes the after-tax change in unrealized gains and losses on investment securities and cash flow hedging activities.
For the Three Months Ended September 30, 2025
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2025
$(780)$1,128 $348 
Other comprehensive income/(loss)254 (538)(284)
Balance at September 30, 2025
$(526)$590 $64 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2024
$(2,466)$— $(2,466)
Other comprehensive income/(loss)1,319 382 1,701 
Balance at September 30, 2024
$(1,147)$382 $(765)
The following table presents the pre-tax and after-tax changes in the components of other comprehensive income.
For the Three Months Ended
September 30, 2025		For the Three Months Ended
September 30, 2024
(Dollars in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Unrealized gain/(loss) on investment securities:
Net unrealized gains/(losses) arising during the period$350 $(96)$254 $1,884 $(565)$1,319 
Reclassification adjustment for realized (gains)/losses included in net income— — — — — — 
Net change$350 $(96)$254 $1,884 $(565)$1,319 
Cash flow hedges:
Net unrealized gains/(losses) arising during the period$374 $(104)$270 $553 $(171)$382 
Reclassification adjustment for realized (gains)/losses included in net income(1,118)310 (808)— — — 
Net change(744)206 (538)553 (171)382 
Total other comprehensive income/(loss)$(394)$110 $(284)$2,437 $(736)$1,701 
v3.25.3
EARNINGS PER COMMON SHARE
 3 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The following table presents the calculation of basic and diluted earnings per common share (“EPS”):
Three Months Ended
September 30,
(Dollars in thousands, except per share data)20252024
Earnings Per Common Share
Net income$112,352 $112,340 
Average common shares issued and outstanding56,512,587 56,934,671 
Earnings per common share$1.99 $1.97 
Diluted Earnings Per Common Share
Average common shares issued and outstanding56,512,587 56,934,671 
Dilutive effect of average unvested RSUs1,270,241 1,233,797 
Average dilutive common shares outstanding
57,782,828 58,168,468 
Diluted earnings per common share$1.94 $1.93 
Weighted average antidilutive common stock equivalents (excluded from the computation of EPS)33,122 — 
For further information regarding the Company’s EPS calculation, see Note 17—“Earnings per Common Share” in the 2025 Form 10-K.
v3.25.3
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Credit-Related Financial Instruments. The Company is a party to credit-related financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets.
The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance-sheet instruments.
Commitments to extend credit are agreements to lend to a customer so long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the customer. For single family loans classified as held for sale, the Company matches unfunded commitments to originate loans with commitments to sell loans. The Company also has standby letters of credit commitments. The following table presents a summary of off-balance sheet commitments.
(dollars in thousands)September 30, 2025
Commitments to fund loans$5,830,963 
Commitments to sell loans$4,785 
Standby letters of credit$9,566 
Commitments to contribute capital - Non-LIHTC
$3,494 
In addition, the Company has $43.6 million of commitments to contribute capital to low-income housing tax credit (“LIHTC”) investments included in “Accounts payable and other liabilities” on the Consolidated Balance Sheets. See Note 13—“Other Assets” for additional information on LIHTC investments.
In the normal course of business, Axos Clearing LLC’s (“Axos Clearing”) customer activities involve the execution, settlement, and financing of various customer securities transactions. These activities may expose Axos Clearing to off-balance-sheet risk in the event the customer or other broker is unable to fulfill its contracted obligations and Axos Clearing has to purchase or sell the financial instrument underlying the contract at a loss. Axos Clearing’s clearing agreements with broker-dealers for which it provides clearing services requires them to indemnify Axos Clearing if customers fail to satisfy their contractual obligation.
Litigation. A consolidated derivative action, In re BofI Holding, Inc., Case No. 15cv2722GPC (KSC), was filed in the United States District Court for the Southern District of California (the “Derivative Action”). The complaint in the Derivative Action set forth allegations made in a related employment action, Erhart v. BofI Holding Inc., No. 15cv2287 BAS (NLS) (S.D. Cal.) (the “Employment Action”) brought by a former employee of the Company and was stayed pending resolution of the Employment Action. On October 4, 2023, the court hearing the Employment Action entered a final amended judgment awarding damages and attorneys’ fees to the plaintiff. The defendant filed a Notice of Appeal from the Employment Action judgment and all orders merged therein, and the parties have filed opening and responsive briefs and an oral argument was held on January 15, 2025. On January 2, 2024, the Derivative Action plaintiff filed a Third Amended Complaint. On March 5, 2024, the court stayed the case until resolution of the appeal in the Employment Action. On February 6, 2025, the appellate court affirmed the jury’s verdict in the Employment Action in a short, unpublished decision. On July 24, 2025, the Employment Action defendant filed a petition for writ of certiorari asking the United States Supreme Court to review the appellate court’s decision. On October 6, 2025 the United States Supreme Court denied said petition. The Derivative Action defendants filed a Motion to Dismiss the Third Amended Complaint on April 4, 2025. A hearing on the motion was held on June 26, 2025. On September 18, 2025, the court granted defendants’ motion to dismiss with prejudice citing Plaintiffs’ failure to plead demand futility. On October 17, 2025, Plaintiffs filed a Notice of Appeal to the United States Court of Appeals for the Ninth Circuit. Such defendants dispute, and intend to continue vigorously defending against, the allegations raised in the Third Amended Complaint. The Derivative Action plaintiff seeks damages on behalf of the Company with respect to the Employment Action and also seeks damages on behalf of the Company in connection with a now settled securities class action that was also based upon allegations made in the Employment Action and settled within available insurance coverage without attribution of wrongdoing to the Company, its management, or its directors.
The following three putative class action lawsuits are pending in the United States District Court, Southern District of California, under the following case names and numbers: (1) In re Axos Bank d/b/a UFB Direct Litigation, 3:23-cv-02266-BJC-DTF; (2) Pliszka et al. v. Axos Bank d/b/a UFB Direct, Case No. 3:24-cv-00445-BJC-DTF; and (3) Ash et al. v. Axos Bank d/b/a UFB Direct, Case No. 3:24-cv-01157-BJC-DTF (collectively, the “UFB Actions”). The plaintiffs in the UFB Actions allege that certain rate representations made by Axos Bank with respect to its UFB products were false or misleading. Axos Bank filed
a motion to compel arbitration or dismiss the complaint in each of the UFB Actions. On September 13, 2024, the court entered an order compelling arbitration in each lawsuit. Accordingly, a separate AAA arbitration was initiated with respect to each of the UFB Actions. On March 26, 2025, the arbitrator in the Pliszka arbitration proceedings issued an order finding that none of the claims raised are subject to arbitration, dismissing the arbitration and remanding the case back to the United States District Court. A similar conclusion was reached by the arbitrator in the Ash arbitration via an order issued on June 3, 2025. The arbitrator in the Stempel arbitration reached a contrary conclusion and entered an order finding the claims to be arbitrable on June 5, 2025. On October 11, 2024, Defendant filed an appeal seeking to enforce Defendant’s updated/modified Account Agreement and Online Access Agreement in Stempel, Pliszka and Ash. Defendant’s opening brief in such appeal was filed July 11, 2025. On September 9, 2025, the court in the Consolidated Action granted Defendant’s renewed motion to compel arbitration. Defendant disputes, and intends to vigorously defend against, the allegations raised in the UFB Actions. The Company does not expect the ultimate outcome of the UFB Actions to have a material adverse effect on its consolidated results of operations, financial position or cash flows. It is not presently possible to state whether the likelihood of an unfavorable outcome is probable or remote, or to estimate the amount or range of any possible loss to the Company should an unfavorable outcome occur.
v3.25.3
SEGMENT REPORTING AND REVENUE INFORMATION
 3 Months Ended
Sep. 30, 2025
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, who is the Chief Operating Decision Maker (“CODM”), 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 CODM 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 in conjunction with its corporate strategy. Salaries and related costs represent the significant segment expense that is regularly provided to the CODM. For more information on the Company’s operating segments, see Note 22—“Segment Reporting” in the 2025 Form 10-K.
In order to reconcile the two segments to the consolidated totals, the Company includes corporate activities and intercompany eliminations. The following tables present the operating results, goodwill, and assets of the segments:
For the Three Months Ended September 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$287,200 $8,194 $(4,344)$291,050 
Provision for credit losses17,255 — — 17,255 
Non-interest income1
12,375 29,457 (9,492)32,340 
Salaries and related costs55,340 14,750 6,515 76,605 
Other segment items2
73,153 14,617 (8,129)79,641 
Non-interest expense1
128,493 29,367 (1,614)156,246 
Income before taxes$153,827 $8,284 $(12,222)$149,889 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$288,492 $7,267 $(3,711)$292,048 
Provision for credit losses14,000 — — 14,000 
Non-interest income1
8,590 29,902 (9,883)28,609 
Salaries and related costs51,957 14,725 7,611 74,293 
Other segment items2
66,358 13,366 (6,552)73,172 
Non-interest expense1
118,315 28,091 1,059 147,465 
Income before taxes$164,767 $9,078 $(14,653)$159,192 
1 Includes $9.7 million and $10.6 million for the three months ended September 30, 2025 and 2024, respectively, of 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.
2 Other segment items includes the non-interest expenses other than salaries and related costs as presented in the Consolidated Statements of Income.
As of September 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$89,588 $59,953 $1,999 $151,540 
Total Assets$26,536,563 $841,882 $53,372 $27,431,817 
As of June 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $59,953 $1,999 $97,673 
Total Assets$23,988,748 $751,820 $42,510 $24,783,078 
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 additional information on the Company’s recognition of revenue and ASC 606, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2025 Form 10-K.
For the Three Months Ended
 September 30,
(Dollars in thousands)20252024
Advisory fee income$8,525 $7,945 
Broker-dealer clearing fees5,814 5,072 
Deposit service fees1,168 773 
Card fees516 923 
Bankruptcy trustee and fiduciary service fees569 1,289 
    Non-interest income (in-scope of ASC 606)16,592 16,002 
    Non-interest income (out-of-scope of ASC 606)15,748 12,607 
    Total non-interest income$32,340 $28,609 
v3.25.3
BORROWINGS, SUBORDINATED NOTES AND DEBENTURES
 3 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
BORROWINGS, SUBORDINATED NOTES AND DEBENTURES BORROWINGS, SUBORDINATED NOTES AND DEBENTURES
Subordinated Notes. On September 19, 2025, the Company completed the issuance of $200 million aggregate principal amount of the Company’s 7.00% Fixed-to-Floating Rate Subordinated Notes (the “2035 Notes”). The 2035 Notes are obligations only of Axos Financial, Inc. The 2035 Notes mature on October 1, 2035 and accrue interest at a fixed rate per annum equal to 7.00%, payable semi-annually in arrears on April 1 and October 1 of each year during the fixed period, commencing on October 1, 2025. From and including October 1, 2030, to, but excluding October 1, 2035 or the date of early redemption, the 2035 Notes will bear interest at a floating rate per annum equal to three-month term SOFR plus a spread of 379 basis points, payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year, commencing on January 1, 2031. The 2035 Notes may be redeemed on or after October 1, 2030, which date may be extended at the Company’s discretion, at a redemption price equal to principal plus accrued and unpaid interest, subject to certain conditions. Fees and costs incurred in connection with the debt offering amortize to “Interest expense - Other borrowings” in the Condensed Consolidated Statements of Income over the term of the 2035 Notes.
On October 1, 2025, the Company completed the redemption of the $160.5 million aggregate principal amount outstanding of its 4.875% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “2030 Notes”), which were set to begin their floating period on such date. The 2030 Notes were redeemed for cash by the Company at 100% of their principal amount, plus accrued and unpaid interest, in accordance with the terms of the indenture governing the 2030 Notes. Remaining unamortized deferred financing costs associated with such notes were expensed and included under “Interest expense - Other borrowings” in the Condensed Consolidated Statements of Income.
For information on secured financings issued by variable interest entities (“VIEs”) consolidated by the Company, see Note 14— “Variable Interest Entities,” and for additional information on other borrowings, see Note 13—“Borrowings, Subordinated Notes and Debentures” in the 2025 Form 10-K.
v3.25.3
OTHER ASSETS
 3 Months Ended
Sep. 30, 2025
Other Assets [Abstract]  
OTHER ASSETS OTHER ASSETS
“Other Assets” in the Consolidated Balance Sheets primarily comprises bank-owned life insurance (“BOLI”), accrued interest receivable, derivatives, net deferred income tax assets, furniture, equipment and software, right-of-use lease assets, LIHTC investments and other receivables. For additional information on other assets, see Note 9—“Other Assets” in the 2025 Form 10-K. For additional information on accrued interest receivable, see Note 5—“Loans & Allowance for Credit Losses,” and for additional information on derivatives, see Note 6—“Derivatives.”
LIHTC Investments. The Company recognized the following income and tax benefits for its LIHTC investments.
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Tax credits recognized$2,282 $1,420 
Other tax benefits recognized1,090 312 
Amortization(2,564)(1,406)
Net benefit (expense) included in income tax expense808 326 
Other income (loss) included in banking and service fees9 — 
Net benefit (expense) included in the Consolidated Statements of Income$817 $326 
The Company recognized the following investments on its balance sheets.
(Dollars in thousands)As of September 30, 2025As of June 30, 2025
LIHTC investments$82,311 $84,875 
LIHTC unfunded commitments1
$43,555 $47,381 
1LIHTC unfunded commitments are included in “Accounts Payable and Other Liabilities” on the Consolidated Balance Sheets.
For the three months ended September 30, 2025 and 2024, there have been no significant modifications or events that resulted in the change in the nature of the LIHTC investments or any changes in the relationship with the underlying project.
For the three months ended September 30, 2025 and 2024, there has been no impairment loss recognized from the forfeiture or ineligibility of income tax credits.
v3.25.3
VARIABLE INTEREST ENTITIES
 3 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES
The Company consolidated the results of operations and financial position of three lending-related entities, which it considers VIEs. The Company consolidated these VIEs because it or its subsidiaries is deemed to be the primary beneficiary since the Company or its subsidiaries has the power to direct the loan servicing or portfolio management activities, which are the activities that most significantly affect the VIEs’ economic performance, and the Company or its subsidiaries has the obligation to absorb the majority of the losses or benefits through ownership of all of the secured financings issued by the trusts. For these VIEs, the loans transferred to the VIEs are pledged as collateral to the related secured financings.

In addition, through its acquisition of Verdant, the Company acquired additional variable interests in certain securitization trusts. Following the acquisition, the Company performed an assessment and determined it continues to direct the activities that most significantly affect the acquired VIEs’ economic performance, and the Company has the obligation to absorb the majority of the losses or benefits of such acquired variable interests. As a result, the Company determined it is the primary beneficiary and continues to consolidate the VIEs as of September 30, 2025.

For these VIEs, including those acquired in the Verdant acquisition, the loans transferred to the VIEs are pledged as collateral to the related secured financings.
The following table provides a summary of the assets and liabilities of consolidated VIEs in the Company’s Condensed Consolidated Balance Sheets.
(Dollars in thousands)As of September 30, 2025As of June 30, 2025
Restricted cash$34,836 $— 
Loans—net of allowance for credit losses
1,876,611 1,276,101 
Other assets158,353 — 
Secured financings
753,501 — 
Accounts payable and other liabilities2,207 — 

As part of its securitization activities, Verdant issued a series of notes to provide additional financing to its business. The notes outstanding as of September 30, 2025 are included in “Secured financings” in the Company’s Condensed Consolidated Balance Sheet and are summarized in the below table:
Series
Classes
Interest Rate Range
Maturity Date / Range
Outstanding Principal at September 30, 2025
(Dollars in thousands)
2022-01
Class A, B, C, D
6.59% to 8.67%
February 2030
$14,963 
2023-01
Class A-1, A-2, B, C, D
6.05% to 7.75%
January 2031
129,906 
2024-01
Class A-1, A-2, B, C, D
5.68% to 7.23%
December 2031
215,938 
2025-01
Class A-1, A-2, A-3, B, C, D
4.66% to 6.49%
March 2028 to
May 2033
376,161 
Total
$736,968 
For additional information on the Verdant acquisition, see Note 2, “Acquisitions.”
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Consolidation
The condensed consolidated financial statements include the accounts of Axos Financial, Inc. and its wholly owned subsidiaries (“Axos” or the “Company”). Axos Bank (the “Bank”), its wholly owned subsidiaries, the activities of three lending-related trust entities and certain other lending activity constitute the Banking Business Segment, and Axos Securities, LLC and its wholly owned subsidiaries constitute the Securities Business Segment. All significant intercompany balances and transactions have been eliminated in consolidation. The Notes to the Condensed Consolidated Financial Statements are an integral part of the Company’s financial statements. On December 7, 2023, the Company acquired from the Federal Deposit Insurance Corporation (“FDIC”) two loan portfolios with an aggregate unpaid principal balance of $1.3 billion at a 37% discount to par. For additional information on the “FDIC Loan Purchase,” see Note 2—“Acquisitions” in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (“2025 Form 10-K”) filed with the Securities and Exchange Commission (“SEC”).
Basis of Presentation
The accompanying interim condensed consolidated financial statements, presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), are unaudited and reflect all adjustments which, in the opinion of management, are necessary for a fair statement of financial condition and results of operations for the interim periods. All adjustments are of a normal and recurring nature. Results for the three months ended September 30, 2025 are not necessarily indicative of results that may be expected for any other interim period or for the year as a whole. Certain information and note disclosures normally included in the audited annual financial statements prepared in accordance with GAAP have been condensed or not repeated herein pursuant to the rules and regulations of the SEC with respect to interim financial reporting. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended June 30, 2025 included in the 2025 Form 10-K.
New Accounting Standards
New Accounting Standards
Recently Adopted Accounting Standards
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, which requires further granularity on the disclosure of income taxes, including:
•Certain prescribed line items in the income tax rate reconciliation presented both in dollar and percentage terms;
•Income taxes paid, income before income taxes and income taxes disaggregated by federal, state and foreign taxes; and
•Further disaggregation of income taxes paid by any individual jurisdiction equal to or exceeding five percent of total income taxes paid.
The Company adopted this standard as of July 1, 2025 and the required annual-only disclosures will be provided in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026. There was no impact on the Company’s financial condition or results of operations upon adoption.
Accounting Standards Issued But Not Yet Adopted
In November 2024, the FASB issued ASU 2024-03, which requires disaggregation of operating expenses by relevant expense caption on the statement of income into prescribed categories, including employee compensation, depreciation and intangible asset amortization. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company does not expect any significant impact on its financial condition or results of operations upon adoption.
In September 2025, the FASB issued ASU 2025‑06, which amends certain aspects of the accounting for and disclosure of internal-use software costs. Among other things, the standard requires capitalization only after management authorizes and commits to funding a project and it is probable the project will be completed and used as intended. The standard is effective for all entities for annual reporting periods beginning after December 15, 2027, and for interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating how it plans to adopt this accounting standard from the three available adoption alternatives provided in the ASU.
Credit Quality Indicators
Credit Quality Indicators. The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends. In addition to the borrower’s primary source of repayment, in its risk rating process the Company considers all available sources of repayment, including obligor guaranties and liquidations of pledged collateral, where individually or together such sources would fully repay the loan on a timely basis. The Company analyzes loans individually by classifying the loans based on credit risk. The Company uses the following internally-defined risk ratings:
Pass. Loans where repayment in full is expected through any of the borrower’s sources of repayment.
Special Mention. Loans where any credit risk is not considered significant yet require management’s attention given certain currently identified characteristics of the borrower, collateral securing the loan and the obligor’s net worth and paying capacity. If the identified credit risks are not adequately monitored or mitigated, the loan may weaken and the Company’s credit position with respect to the loan may deteriorate in the future.
Substandard. Loans where currently identified characteristics of the borrower, collateral securing the loan and the obligor’s net worth and paying capacity, taken together, could jeopardize the repayment of the debt. A loan not fully supported by at least one available source of repayment and involves a distinct possibility that the Company will sustain some loss in that loan if the weakness is not cured. A loan supported by a guaranty, collateral sufficient to incentivize a sale or refinance, or cash flow that is sufficient for timely repayment in full will not be classified as substandard even if the loan has a well-defined weakness in other sources of repayment.
Doubtful. Loans reflecting the same characteristics as those classified as substandard, but for which repayment in full in accordance with the contractual terms is currently considered highly unlikely.
The Company reviews and grades loans following a continuous review process, featuring coverage of all loan types and business lines at least quarterly. Continuous reviewing provides more effective risk monitoring because it immediately tests for potential impacts caused by changes in personnel, policy, products or underwriting standards.
v3.25.3
ACQUISITIONS (Tables)
 3 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price for the Acquisition
The following table presents the purchase price for the acquisition of Verdant as of September 30, 2025:
(Dollars in thousands)
Adjusted Verdant book value1
$39,301 
Purchase price premium paid by Axos
3,930 
PURCHASE PRICE$43,231 
1 Represents August 31, 2025 Verdant book value adjusted for certain items, including provision for credit losses and debt prepayment fees, according to the terms of the acquisition agreement.
Schedule of Purchase Price Allocation
The following table provides the Verdant preliminary purchase consideration allocation as of the date of acquisition:
(Dollars in thousands)
September 30, 2025
ASSETS:
Cash and cash equivalents$31,635 
Restricted cash
34,924 
Loans—net of allowance for credit losses of $7,795
1,020,322 
Other assets1
223,842 
Goodwill and other intangible assets—net
72,767 
TOTAL ASSETS$1,383,490 
LIABILITIES:
Secured financings
$782,423 
Accounts payable and other liabilities29,250 
TOTAL LIABILITIES$811,673 
TOTAL CONSIDERATION (Including $500.0 million to settle certain debt of Verdant and $30.8 million of Contingent Consideration)
$571,817 
Amount paid to settle certain debt of Verdant, excluding $2.2 million of transaction costs included in the purchase price
(497,776)
Contingent Consideration
(30,810)
PURCHASE PRICE
$43,231 
1 Includes $212.6 million of equipment under operating lease arrangements.
Schedule of Intangible Assets Acquired
The following table details the intangible assets acquired in the acquisition:
(Dollars in thousands)September 30, 2025
Weighted-Average Life (Years)
Vendor relationships
$11,200 13.6
Trade name
2,600 5.0
Developed technologies
5,100 3.0
Total intangible assets acquired
$18,900 9.6
Schedule of PCD Loans and Leases Acquired
The following table summarizes the PCD loans and leases acquired in the acquisition:
(Dollars in thousands)September 30, 2025
Unpaid principal balance
$211,002 
Non-credit discount
(342)
Allowance for credit losses at acquisition(7,795)
Purchase price allocated to PCD assets$202,865 
Schedule of Pro Forma Information
The following table shows the Company and Verdant proforma combined net interest income, non-interest income and net income. The proforma financial information presented in the table below was computed by combining the historical financial information of the Company and Verdant along with the effects of the acquisition method of accounting for business combinations as though the Company acquired Verdant on July 1, 2024. Also included in the proforma financial information are certain adjustments, including $1.3 million of acquisition-related costs, as well as adjustments related to amortization expense of the intangible assets acquired in the Verdant acquisition and the elimination of the amortization expense of Verdant’s intangible assets prior to its acquisition by the Company. The proforma information does not reflect the potential benefits of cost and funding synergies, opportunities to earn additional revenues or other factors and therefore does not represent what the actual net revenues and net income would have been had the Company actually acquired Verdant as of this date.
Three Months Ended
(Dollars in thousands)September 30, 2025September 30, 2024
Net interest income
297,473 295,460 
Non-interest income
35,340 31,365 
Net income
104,433 106,718 
v3.25.3
FAIR VALUE (Tables)
 3 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables set forth the Company’s financial assets and liabilities measured at fair value on a recurring basis at September 30, 2025 and June 30, 2025. Assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement:
September 30, 2025
(Dollars in thousands)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
ASSETS:
Trading securities$533 $— $533 
Available-for-sale securities:
Agency MBS46,606 — 46,606 
Non-Agency MBS— 11,192 11,192 
Municipal— — — 
Total—Available-for-sale securities:$46,606 $11,192 $57,798 
Loans held for sale$12,202 $— $12,202 
Servicing rights$— $26,243 $26,243 
Other assets—Derivative instruments1
$17,892 $— $17,892 
LIABILITIES:
Accounts payable and other liabilities—Derivative instruments$64,619 $— $64,619 
Accounts payable and other liabilities—Contingent Consideration
$— $30,810 $30,810 
June 30, 2025
(Dollars in thousands)Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
ASSETS:
Trading securities$649 $— $649 
Available-for-sale securities:
Agency MBS46,757 — 46,757 
Non-Agency MBS— 15,569 15,569 
Municipal3,682 — 3,682 
Total—Available-for-sale securities:$50,439 $15,569 $66,008 
Loans held for sale$10,012 $— $10,012 
Servicing rights$— $27,218 $27,218 
Other assets—Derivative instruments1
$17,734 $— $17,734 
LIABILITIES:
Accounts payable and other liabilities—Derivative instruments$68,498 $— $68,498 
1 Other assets - Derivative instruments are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
Schedule of Additional Information About Assets Measured at Fair Value on a Recurring Basis and for which the Company has Utilized Level 3 Inputs to Determine Fair Value
The following tables present additional information about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
For the Three Months Ended
September 30, 2025
(Dollars in thousands)Available-for-sale Securities:
Non-Agency MBS
Servicing Rights1
Accounts payable and other liabilities—Contingent Consideration
Total
Opening balance$15,569 $27,218 $— $42,787 
Total gains or losses for the period:
Included in earnings—Mortgage banking and servicing rights income— (1,189)— (1,189)
Included in other comprehensive income116 — — 116 
Purchases, retentions, issues, sales and settlements:
Purchases/Retentions— 214 30,810 31,024 
Settlements(4,493)— — (4,493)
Closing balance$11,192 $26,243 $30,810 $68,245 
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $(1,189)$— $(1,189)
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $0.4 million for the three months ended September 30, 2025, and a decrease in servicing rights value resulting from market-driven changes in interest rates of $0.8 million for the three months ended September 30, 2025. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale.

For the Three Months Ended
September 30, 2024
(Dollars in thousands)Available-for-sale Securities:
Non-Agency MBS
Servicing Rights1
Total
Opening balance$110,928 $28,924 $139,852 
Total gains or losses for the period:
Included in earnings—Mortgage banking and servicing rights income— (1,852)(1,852)
Included in other comprehensive income782 — 782 
Purchases, retentions, issues, sales and settlements:
Purchases/Retentions— 263 263 
Settlements(20,401)— (20,401)
Closing balance$91,309 $27,335 $118,644 
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $(1,852)$(1,852)
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $0.2 million for the three months ended September 30, 2024 and a decrease in servicing rights value resulting from market-driven changes in interest rates of $1.6 million for the three months ended September 30, 2024. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale.
Schedule of Quantitative Information About Level 3 Fair Value Measurements
The table below summarizes the quantitative information about Level 3 fair value measurements:
September 30, 2025
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input
Range (Weighted Average)1
Available-for-sale securities: Non-Agency MBS$11,192 Discounted Cash FlowProjected Constant Prepayment Rate,
Projected Constant Default Rate,
Projected Loss Severity,
Discount Rate over SOFR Swaps,
Credit Enhancement
2.5 to 30.0% (20.1%)
1.5 to 9.9% (6.1%)
35.0 to 68.9% (46.6%)
2.5 to 4.3% (2.8%)
0.0 to 65.6% (41.8%)
Servicing Rights$26,243 Discounted Cash FlowProjected Constant Prepayment Rate,
Life (in years),
Discount Rate
5.2 to 28.7% (10.3%)
2.2 to 12.7 (8.9)
9.5 to 11.2% (9.8%)
Accounts payable and other liabilities—Contingent Consideration
$30,810 
Nelson-Siegal Stochastic Model
Monthly Asset Growth,
Credit Spread
(7.4)% to 14.5% (3.6%)
2.9% to 2.9% (2.9%)
June 30, 2025
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input
Range (Weighted Average)1
Available-for-sale securities: Non-Agency MBS$15,569 Discounted Cash FlowProjected Constant Prepayment Rate,
Projected Constant Default Rate,
Projected Loss Severity,
Discount Rate over SOFR Swaps,
Credit Enhancement
2.5 to 30.0% (22.4%)
1.5 to 11.9% (8.7%)
35.0 to 68.9% (43.4%)
2.5 to 4.1% (2.7%)
0.0 to 99.0% (22.8%)
Servicing Rights$27,218 Discounted Cash FlowProjected Constant Prepayment Rate,
Life (in years),
Discount Rate
5.2 to 26.6% (9.7%)
2.5 to 12.8 (9.3)
9.5 to 11.2% (9.8%)
1 The weighted average for Available-for-sale securities: Non-agency MBS is based on the relative fair value of the securities, for Servicing Rights is based on the relative unpaid principal of the loans being serviced and for Accounts payable and other liabilities—Contingent Consideration.is based on annual projected consideration.
Schedule of Aggregate Fair Value, Contractual Balance, and Gains of Loans Held For Sale
The aggregate fair value of loans held for sale, carried at fair value, the contractual balance (including accrued interest), and the unrealized gain were:
(Dollars in thousands)September 30, 2025June 30, 2025
Aggregate fair value$12,202 $10,012 
Contractual balance11,931 9,870 
Unrealized gain$271 $142 
The total interest income and amount of gains and losses from changes in fair value included in earnings for loans held for sale, carried at fair value, were:
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Interest income$181 $288 
Change in fair value540 17 
Total $721 $305 
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments at Period-End
Carrying amounts and estimated fair values of financial instruments at September 30, 2025 and June 30, 2025 were:
September 30, 2025
Fair Value
(Dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total Fair Value
Financial assets:
Cash, cash equivalents and restricted cash
$2,885,595 $2,885,595 $— $— $2,885,595 
Trading securities
533 — 533 — 533 
Available-for-sale securities
57,798 — 46,606 11,192 57,798 
Stock of regulatory agencies35,299 — 35,299 — 35,299 
Loans held for sale, at fair value12,202 — 12,202 — 12,202 
Loans held for investment—net22,635,137 — — 22,879,586 22,879,586 
Securities borrowed182,518 — — 180,783 180,783 
Customer, broker-dealer and clearing receivables263,095 — — 261,446 261,446 
Servicing rights
26,243 — — 26,243 26,243 
Other assets - derivative instruments1
17,892 — 17,892 — 17,892 
Financial liabilities:
Total deposits22,264,753 — 21,943,152 — 21,943,152 
Advances from the Federal Home Loan Bank60,000 — 57,203 — 57,203 
Secured financings
782,423 — 782,423 — 782,423 
Borrowings, subordinated notes and debentures510,064 — 490,626 — 490,626 
Securities loaned204,620 — — 203,553 203,553 
Customer, broker-dealer and clearing payables385,821 — — 385,821 385,821 
Accounts payable and other liabilities - derivative instruments
64,619 — 64,619 — 64,619 
Accounts payable and other liabilities—Contingent Consideration
30,810 — — 30,810 30,810 
June 30, 2025
Fair Value
(Dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total Fair Value
Financial assets:
Cash, cash equivalents and restricted cash
$2,176,354 $2,176,354 $— $— $2,176,354 
Trading securities
649 — 649 — 649 
Available-for-sale securities
66,008 — 50,439 15,569 66,008 
Stock of regulatory agencies
35,163 — 35,163 — 35,163 
Loans held for sale, at fair value10,012 — 10,012 — 10,012 
Loans held for investment—net21,049,610 — — 21,288,921 21,288,921 
Securities borrowed139,396 — — 138,103 138,103 
Customer, broker-dealer and clearing receivables252,720 — — 251,126 251,126 
Servicing rights
27,218 — — 27,218 27,218 
Other assets - derivative instruments1
17,734 — 17,734 — 17,734 
Financial liabilities:
Total deposits20,829,543 — 20,642,953 — 20,642,953 
Advances from the Federal Home Loan Bank60,000 — 56,934 — 56,934 
Borrowings, subordinated notes and debentures312,671 — 285,282 — 285,282 
Securities loaned139,426 — — 138,698 138,698 
Customer, broker-dealer and clearing payables350,606 — — 350,606 350,606 
Accounts payable and other liabilities - derivative instruments
68,498 — 68,498 — 68,498 
1 Other assets - derivative assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
v3.25.3
AVAILABLE-FOR-SALE SECURITIES (Tables)
 3 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Carrying Amount and Fair Value of Available-for-sale Securities
The amortized cost and fair value of available-for-sale securities were:
September 30, 2025
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$47,845 $389 $(1,628)$46,606 
Non-agency2
9,901 1,330 (39)11,192 
Total mortgage-backed securities57,746 1,719 (1,667)57,798 
Total available-for-sale securities
$57,746 $1,719 $(1,667)$57,798 
June 30, 2025
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$48,229 $327 $(1,799)$46,757 
Non-agency2
14,395 1,232 (58)15,569 
Total mortgage-backed securities62,624 1,559 (1,857)62,326 
Municipal3,682 — — 3,682 
Total available-for-sale securities
$66,306 $1,559 $(1,857)$66,008 
1 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.
2 Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by prime, Alt-A or pay-option adjustable rate mortgages.
The following table sets forth the expected maturity distribution of our mortgage-backed securities, which is based on assumed prepayment rates, and the maturity distribution of our non-MBS, which is based on the contractual maturity:
As of September 30, 2025
(Dollars in thousands)Total AmountDue Within One YearDue after One but within Five YearsDue after Five but within Ten YearsDue After Ten Years
MBS:
Agency$47,845 $11,999 $29,382 $4,746 $1,718 
Non-Agency$9,901 $6,698 $1,470 $1,115 $618 
Total MBS$57,746 $18,697 $30,852 $5,861 $2,336 
Available-for-sale—Amortized cost
$57,746 $18,697 $30,852 $5,861 $2,336 
Available-for-sale—Fair value$57,798 $18,655 $30,681 $6,017 $2,445 
Schedule of Securities in a Continuous Unrealized Loss Position
Securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were:
September 30, 2025
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$106 $(1)$16,034 $(1,627)$16,140 $(1,628)
Non-agency2,099 (21)199 (18)2,298 (39)
Total MBS2,205 (22)16,233 (1,645)18,438 (1,667)
Total available-for-sale securities
$2,205 $(22)$16,233 $(1,645)$18,438 $(1,667)
June 30, 2025
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$108 $— $16,212 $(1,799)$16,320 $(1,799)
Non-agency2,138 (43)10,695 (15)12,833 (58)
Total MBS2,246 (43)26,907 (1,814)29,153 (1,857)
Total available-for-sale securities
$2,246 $(43)$26,907 $(1,814)$29,153 $(1,857)
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES (Tables)
 3 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Composition of the Loan Portfolio
The following table sets forth the composition of the loan portfolio:
(Dollars in thousands)September 30, 2025June 30, 2025
Single Family - Mortgage & Warehouse$4,540,889 $4,395,278 
Multifamily and Commercial Mortgage
2,793,762 2,940,739 
Commercial Real Estate
7,295,572 6,937,187 
Commercial & Industrial - Non-RE7,980,981 6,795,497 
Auto & Consumer531,044 482,996 
Total gross loans23,142,248 21,551,697 
Allowance for credit losses - loans(307,431)(290,049)
Unaccreted premiums (discounts) and loan fees(199,680)(212,038)
Total net loans$22,635,137 $21,049,610 
Schedule of Real Estate Loans, Loan-to-Value Ratio
The following table presents loan-to-value (“LTV”) for the Company’s real estate loans outstanding as of September 30, 2025:
Total Real Estate LoansSingle Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real Estate
Weighted-Average LTV48 %57 %49 %43 %
Median LTV51 %53 %47 %43 %
Schedule of Allowance for Credit Losses on Financing Receivables
The following table presents the components of the provision for credit losses:
For September 30,
(Dollars in thousands)
20252024
Provision for credit losses - loans
$15,255 $11,500 
Provision for credit losses - unfunded lending commitments
2,000 2,500 
    Total provision for credit losses
$17,255 $14,000 
The following tables summarize activity in the allowance for credit losses - loans by portfolio segment:
For the Three Months Ended September 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2025
$12,109 $26,238 $113,804 $121,641 $16,257 $290,049 
Allowance for credit losses at acquisition of PCD loans
— — — 7,795 — 7,795 
Provision (benefit) for credit losses - loans(1,571)(1,037)6,549 8,856 2,458 15,255 
Charge-offs(395)(3,918)(4)(255)(1,786)(6,358)
Recoveries28 — — — 662 690 
Balance at September 30, 2025
$10,171 $21,283 $120,349 $138,037 $17,591 $307,431 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2024
$16,943 $70,771 $87,780 $76,032 $9,016 $260,542 
Provision (benefit) for credit losses - loans464 (1,806)7,252 3,555 2,035 11,500 
Charge-offs— (3,357)— (3,032)(2,849)(9,238)
Recoveries46 — — — 1,004 1,050 
Balance at September 30, 2024
$17,453 $65,608 $95,032 $76,555 $9,206 $263,854 
The following tables present a summary of the activity in the allowance for credit losses for off-balance sheet lending commitments:
Three Months Ended September 30,
(Dollars in thousands)20252024
Balance at July 1,
$10,891 $10,223 
Provision (benefit) for credit losses - unfunded lending commitments2,000 2,500 
Balance at September 30,
$12,891 $12,723 
Schedule of Outstanding Principal Balance on Loans Performing and Nonaccrual The following tables provide the composition of loans that are performing and nonaccrual by portfolio segment:
September 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,473,002 $2,777,715 $7,273,789 $7,918,445 $528,887 $22,971,838 
Nonaccrual67,887 16,047 21,783 62,536 2,157 170,410 
Total$4,540,889 $2,793,762 $7,295,572 $7,980,981 $531,044 $23,142,248 
Nonaccrual loans to total loans0.74 %
June 30, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,351,082 $2,907,702 $6,907,964 $6,733,693 $480,870 $21,381,311 
Nonaccrual44,196 33,037 29,223 61,804 2,126 170,386 
Total$4,395,278 $2,940,739 $6,937,187 $6,795,497 $482,996 $21,551,697 
Nonaccrual loans to total loans0.79 %
Schedule of Composition of Loan and Lease Portfolio by Credit Quality Indicators
The following tables present the composition of loans by portfolio segment, fiscal year of origination and credit quality indicator, and the amount of year-to-date gross charge-offs.
September 30, 2025
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20262025202420232022Prior
Single Family-Mortgage & Warehouse
Pass$197,266 $652,424 $233,972 $426,758 $1,033,680 $1,108,076 $787,877 $4,440,053 
Special Mention— — 1,080 — 10,689 19,087 — 30,856 
Substandard— — — 4,503 11,379 54,098 — 69,980 
Doubtful— — — — — — — — 
Total197,266 652,424 235,052 431,261 1,055,748 1,181,261 787,877 4,540,889 
Year-to-date gross charge-offs— — — — 48 347 — 395 
Multifamily and Commercial Mortgage
Pass28,237 75,585 21,577 631,556 801,448 1,191,542 2,749,945 
Special Mention— — — 3,400 — 1,547 — 4,947 
Substandard— — — 8,530 17,007 13,333 — 38,870 
Doubtful— — — — — — — — 
Total28,237 75,585 21,577 643,486 818,455 1,206,422 — 2,793,762 
Year-to-date gross charge-offs— — — — — 3,918 — 3,918 
Commercial Real Estate
Pass512,926 3,112,458 1,372,529 689,214 409,209 181,498 981,352 7,259,186 
Special Mention— — — — — — — 
Substandard— — — 7,060 — 14,721 14,605 36,386 
Doubtful— — — — — — — — 
Total512,926 3,112,458 1,372,529 696,274 409,209 196,219 995,957 7,295,572 
Year-to-date gross charge-offs— — — — 4 — — 4 
Commercial & Industrial - Non-RE
Pass710,648 1,505,243 1,000,419 363,791 142,039 76,615 3,804,326 7,603,081 
Special Mention256 13,606 59,132 4,026 1,537 71 — 78,628 
Substandard81 15,849 79,036 11,936 154,289 6,185 21,284 288,660 
Doubtful— 599 4 3 10,000 6 — 10,612 
Total710,985 1,535,297 1,138,591 379,756 307,865 82,877 3,825,610 7,980,981 
Year-to-date gross charge-offs— — — — — 255 — 255 
Auto & Consumer
Pass97,082 201,753 44,395 60,552 94,988 29,414 — 528,184 
Special Mention— 290 — 332 163 53 — 838 
Substandard— 316 16 291 684 715 — 2,022 
Doubtful— — — — — — — — 
Total97,082 202,359 44,411 61,175 95,835 30,182 — 531,044 
Year-to-date gross charge-offs— 474 153 450 649 60 — 1,786 
Total
Pass1,546,159 5,547,463 2,672,892 2,171,871 2,481,364 2,587,145 5,573,555 22,580,449 
Special Mention256 13,896 60,212 7,758 12,389 20,758 — 115,269 
Substandard81 16,165 79,052 32,320 183,359 89,052 35,889 435,918 
Doubtful— 599 4 3 10,000 6 — 10,612 
Total$1,546,496 $5,578,123 $2,812,160 $2,211,952 $2,687,112 $2,696,961 $5,609,444 $23,142,248 
As a % of total gross loans6.7%24.1%12.2%9.6%11.6%11.7%24.2%100%
Year-to-date gross charge-offs$— $474 $153 $450 $701 $4,580 $— $6,358 
June 30, 2025
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20252024202320222021Prior
Single Family-Mortgage & Warehouse
Pass$750,357 $269,165 $451,330 $1,067,144 $434,352 $715,620 $599,406 $4,287,374 
Special Mention2,129 1,080 5,362 3,140 5,254 26,604 9,967 53,536 
Substandard— — — 7,255 6,720 40,393 — 54,368 
Doubtful— — — — — — — — 
Total752,486 270,245 456,692 1,077,539 446,326 782,617 609,373 4,395,278 
Year-to-date gross charge-offs— 340 — 400 — 2,296 — 3,036 
Multifamily and Commercial Mortgage
Pass75,755 22,435 632,120 859,189 422,683 842,787 1,450 2,856,419 
Special Mention— — 3,400 — 7,255 18,272 — 28,927 
Substandard— — 8,530 13,199 — 33,664 — 55,393 
Doubtful— — — — — — — — 
Total75,755 22,435 644,050 872,388 429,938 894,723 1,450 2,940,739 
Year-to-date gross charge-offs— 375 86 5 — 8,099 — 8,565 
Commercial Real Estate
Pass3,135,530 1,342,372 679,875 575,642 152,581 47,214 960,145 6,893,359 
Special Mention— — — — — — — 
Substandard— — — 9,500 5,000 14,723 14,605 43,828 
Doubtful— — — — — — — — 
Total3,135,530 1,342,372 679,875 585,142 157,581 61,937 974,750 6,937,187 
Year-to-date gross charge-offs— — — 165 — — — 165 
Commercial & Industrial - Non-RE
Pass1,231,118 809,347 310,043 120,385 38,397 28,311 3,928,415 6,466,016 
Special Mention— 45,120 — — 93 — 10,023 55,236 
Substandard3,747 10,719 9,244 135,778 2,486 2,989 99,282 264,245 
Doubtful— — — 10,000 — — — 10,000 
Total1,234,865 865,186 319,287 266,163 40,976 31,300 4,037,720 6,795,497 
Year-to-date gross charge-offs— — 883 — 5,942 — 2,000 8,825 
Auto & Consumer
Pass213,318 47,587 75,120 109,228 23,084 11,448 — 479,785 
Special Mention295 52 186 270 60 10 — 873 
Substandard154 48 365 807 549 415 — 2,338 
Doubtful— — — — — — — — 
Total213,767 47,687 75,671 110,305 23,693 11,873 — 482,996 
Year-to-date gross charge-offs589 813 2,363 3,340 797 1,813 — 9,715 
Total
Pass5,406,078 2,490,906 2,148,488 2,731,588 1,071,097 1,645,380 5,489,416 20,982,953 
Special Mention2,424 46,252 8,948 3,410 12,662 44,886 19,990 138,572 
Substandard3,901 10,767 18,139 166,539 14,755 92,184 113,887 420,172 
Doubtful— — — 10,000 — — — 10,000 
Total$5,412,403 $2,547,925 $2,175,575 $2,911,537 $1,098,514 $1,782,450 $5,623,293 $21,551,697 
As a % of total gross loans25.1%11.8%10.1%13.5%5.1%8.3%26.1%100%
Total year-to-date gross charge-offs$589 $1,528 $3,332 $3,910 $6,739 $12,208 $2,000 $30,306 
Schedule of Aging of Loans by Portfolio Segment
The following tables provide the aging of loans by portfolio segment:
September 30, 2025
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,450,628 $18,357 $10,377 $61,527 $4,540,889 
Multifamily and Commercial Mortgage2,774,831 3,379 2,713 12,839 2,793,762 
Commercial Real Estate7,273,849 — — 21,723 7,295,572 
Commercial & Industrial - Non-RE7,876,062 73,511 13,906 17,502 7,980,981 
Auto & Consumer524,425 4,094 1,029 1,496 531,044 
Total$22,899,795 $99,341 $28,025 $115,087 $23,142,248 
As a % of total gross loans98.95 %0.43 %0.12 %0.50 %100 %
June 30, 2025
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,322,681 $13,302 $16,395 $42,900 $4,395,278 
Multifamily and Commercial Mortgage2,870,972 36,649 549 32,569 2,940,739 
Commercial Real Estate6,900,904 — 7,060 29,223 6,937,187 
Commercial & Industrial - Non-RE
6,783,440 — — 12,057 6,795,497 
Auto & Consumer477,694 3,025 920 1,357 482,996 
Total$21,355,691 $52,976 $24,924 $118,106 $21,551,697 
As a % of total gross loans99.09 %0.25 %0.12 %0.55 %100 %
v3.25.3
DERIVATIVES (Tables)
 3 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the notional amounts and fair values of the Company’s derivative instruments. While the notional amounts give an indication of the volume of the Company’s derivatives activity, the notional amounts significantly exceed, in the Company’s view, the possible losses that could arise from such transactions. For most derivative contracts, the notional amount is not exchanged, rather it is a reference amount used to calculate payments.
September 30, 2025
June 30, 2025
Fair ValueFair Value
(Dollars in thousands)Notional AmountDerivative AssetsDerivative LiabilitiesNotional AmountDerivative AssetsDerivative Liabilities
Derivatives designated as hedging instruments
Interest rate contracts1
$400,000 $1,184 $— $400,000 $1,950 $— 
Derivatives not designated as hedging instruments
Interest rate contracts1
2,627,948 16,679 64,599 2,761,021 15,782 68,427 
Foreign exchange contracts9,777 29 20 9,570 2 71 
Total derivatives$3,037,725 $17,892 $64,619 $3,170,591 $17,734 $68,498 
1 Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
Schedule of Derivative Instruments, Gain (Loss)
The following table presents pre-tax gains/(losses) on derivative instruments used in cash flow hedge accounting relationships.
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Amounts recorded in other comprehensive income (“OCI”)
$374 $553 
Amounts reclassified from AOCI to income(1,118)— 
Total change in OCI for period$(744)$553 
The following table presents the pre-tax gains/(losses) related to the Company’s derivative instrument activity recognized in the Condensed Consolidated Statements of Income:
For the Three Months Ended September 30,
(Dollars in thousands)
20252024
Interest rate contracts
Banking and service fees$(558)$(1,372)
Mortgage banking and servicing rights income417 (251)
Foreign exchange contracts
Banking and service fees539 — 
v3.25.3
OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS (Tables)
 3 Months Ended
Sep. 30, 2025
Offsetting [Abstract]  
Schedule of Securities Financing Transactions - Assets
The following tables present information about the offsetting of these instruments and related collateral amounts:
September 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$182,518 $— $182,518 $182,518 $— 
Other Assets — Derivative Assets1
17,891 — 17,891 10,468 7,423 
Liabilities:
Securities loaned$204,620 $— $204,620 $204,620 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities64,618 — 64,618 6,682 57,936 
June 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$139,396 $— $139,396 $139,396 $— 
Other Assets — Derivative Assets1
17,734 — 17,734 11,174 6,560 
Liabilities:
Securities loaned$139,426 $— $139,426 $139,426 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities68,497 — 68,497 6,122 62,375 
1 Gross amounts of Other Assets - Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $5.3 million and $6.3 million as of September 30, 2025 and June 30, 2025, respectively, and cash collateral placed on Derivative Liabilities of $1.5 million and $1.3 million as of September 30, 2025 and June 30, 2025, respectively.
Schedule of Securities Financing Transactions - Liabilities
The following tables present information about the offsetting of these instruments and related collateral amounts:
September 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$182,518 $— $182,518 $182,518 $— 
Other Assets — Derivative Assets1
17,891 — 17,891 10,468 7,423 
Liabilities:
Securities loaned$204,620 $— $204,620 $204,620 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities64,618 — 64,618 6,682 57,936 
June 30, 2025
(Dollars in thousands)Gross Assets / LiabilitiesAmounts OffsetNet Balance Sheet Amount
Amounts Not Offset2
Net Assets / Liabilities
Assets:
Securities borrowed$139,396 $— $139,396 $139,396 $— 
Other Assets — Derivative Assets1
17,734 — 17,734 11,174 6,560 
Liabilities:
Securities loaned$139,426 $— $139,426 $139,426 $— 
Accounts Payable and Other Liabilities — Derivative Liabilities68,497 — 68,497 6,122 62,375 
1 Gross amounts of Other Assets - Derivative Assets are presented net of $50.8 million and $55.4 million of variation margin on centrally-cleared derivatives as of September 30, 2025 and June 30, 2025, respectively.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $5.3 million and $6.3 million as of September 30, 2025 and June 30, 2025, respectively, and cash collateral placed on Derivative Liabilities of $1.5 million and $1.3 million as of September 30, 2025 and June 30, 2025, respectively.
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Status and Changes in Restricted Stock Grants
The following table presents the status and changes in RSUs:
RSUs
Weighted-Average
Grant-Date Fair Value
Non-vested balance at June 30, 2025
1,564,016 $55.50 
Granted385,696 90.47 
Vested(254,510)47.24 
Forfeited(26,093)57.93 
Non-vested balance at September 30, 2025
1,669,109 $64.81 
Schedule of Accumulated Other Comprehensive Income
AOCI includes the after-tax change in unrealized gains and losses on investment securities and cash flow hedging activities.
For the Three Months Ended September 30, 2025
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2025
$(780)$1,128 $348 
Other comprehensive income/(loss)254 (538)(284)
Balance at September 30, 2025
$(526)$590 $64 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2024
$(2,466)$— $(2,466)
Other comprehensive income/(loss)1,319 382 1,701 
Balance at September 30, 2024
$(1,147)$382 $(765)
The following table presents the pre-tax and after-tax changes in the components of other comprehensive income.
For the Three Months Ended
September 30, 2025		For the Three Months Ended
September 30, 2024
(Dollars in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Unrealized gain/(loss) on investment securities:
Net unrealized gains/(losses) arising during the period$350 $(96)$254 $1,884 $(565)$1,319 
Reclassification adjustment for realized (gains)/losses included in net income— — — — — — 
Net change$350 $(96)$254 $1,884 $(565)$1,319 
Cash flow hedges:
Net unrealized gains/(losses) arising during the period$374 $(104)$270 $553 $(171)$382 
Reclassification adjustment for realized (gains)/losses included in net income(1,118)310 (808)— — — 
Net change(744)206 (538)553 (171)382 
Total other comprehensive income/(loss)$(394)$110 $(284)$2,437 $(736)$1,701 
v3.25.3
EARNINGS PER COMMON SHARE (Tables)
 3 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted EPS
The following table presents the calculation of basic and diluted earnings per common share (“EPS”):
Three Months Ended
September 30,
(Dollars in thousands, except per share data)20252024
Earnings Per Common Share
Net income$112,352 $112,340 
Average common shares issued and outstanding56,512,587 56,934,671 
Earnings per common share$1.99 $1.97 
Diluted Earnings Per Common Share
Average common shares issued and outstanding56,512,587 56,934,671 
Dilutive effect of average unvested RSUs1,270,241 1,233,797 
Average dilutive common shares outstanding
57,782,828 58,168,468 
Diluted earnings per common share$1.94 $1.93 
Weighted average antidilutive common stock equivalents (excluded from the computation of EPS)33,122 — 
v3.25.3
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Off- Balance Sheet Commitments The following table presents a summary of off-balance sheet commitments.
(dollars in thousands)September 30, 2025
Commitments to fund loans$5,830,963 
Commitments to sell loans$4,785 
Standby letters of credit$9,566 
Commitments to contribute capital - Non-LIHTC
$3,494 
v3.25.3
SEGMENT REPORTING AND REVENUE INFORMATION (Tables)
 3 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following tables present the operating results, goodwill, and assets of the segments:
For the Three Months Ended September 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$287,200 $8,194 $(4,344)$291,050 
Provision for credit losses17,255 — — 17,255 
Non-interest income1
12,375 29,457 (9,492)32,340 
Salaries and related costs55,340 14,750 6,515 76,605 
Other segment items2
73,153 14,617 (8,129)79,641 
Non-interest expense1
128,493 29,367 (1,614)156,246 
Income before taxes$153,827 $8,284 $(12,222)$149,889 
For the Three Months Ended September 30, 2024
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Net interest income$288,492 $7,267 $(3,711)$292,048 
Provision for credit losses14,000 — — 14,000 
Non-interest income1
8,590 29,902 (9,883)28,609 
Salaries and related costs51,957 14,725 7,611 74,293 
Other segment items2
66,358 13,366 (6,552)73,172 
Non-interest expense1
118,315 28,091 1,059 147,465 
Income before taxes$164,767 $9,078 $(14,653)$159,192 
1 Includes $9.7 million and $10.6 million for the three months ended September 30, 2025 and 2024, respectively, of 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.
2 Other segment items includes the non-interest expenses other than salaries and related costs as presented in the Consolidated Statements of Income.
As of September 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$89,588 $59,953 $1,999 $151,540 
Total Assets$26,536,563 $841,882 $53,372 $27,431,817 
As of June 30, 2025
(Dollars in thousands)Banking
Business Segment		Securities Business SegmentCorporate/EliminationsAxos Consolidated
Goodwill$35,721 $59,953 $1,999 $97,673 
Total Assets$23,988,748 $751,820 $42,510 $24,783,078 
Schedule of Non-Interest Income 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 additional information on the Company’s recognition of revenue and ASC 606, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2025 Form 10-K.
For the Three Months Ended
 September 30,
(Dollars in thousands)20252024
Advisory fee income$8,525 $7,945 
Broker-dealer clearing fees5,814 5,072 
Deposit service fees1,168 773 
Card fees516 923 
Bankruptcy trustee and fiduciary service fees569 1,289 
    Non-interest income (in-scope of ASC 606)16,592 16,002 
    Non-interest income (out-of-scope of ASC 606)15,748 12,607 
    Total non-interest income$32,340 $28,609 
v3.25.3
OTHER ASSETS (Tables)
 3 Months Ended
Sep. 30, 2025
Other Assets [Abstract]  
Schedule of LIHTC Investments The Company recognized the following income and tax benefits for its LIHTC investments.
For the Three Months Ended September 30,
(Dollars in thousands)20252024
Tax credits recognized$2,282 $1,420 
Other tax benefits recognized1,090 312 
Amortization(2,564)(1,406)
Net benefit (expense) included in income tax expense808 326 
Other income (loss) included in banking and service fees9 — 
Net benefit (expense) included in the Consolidated Statements of Income$817 $326 
The Company recognized the following investments on its balance sheets.
(Dollars in thousands)As of September 30, 2025As of June 30, 2025
LIHTC investments$82,311 $84,875 
LIHTC unfunded commitments1
$43,555 $47,381 
1LIHTC unfunded commitments are included in “Accounts Payable and Other Liabilities” on the Consolidated Balance Sheets.
v3.25.3
VARIABLE INTEREST ENTITIES (Tables)
 3 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The following table provides a summary of the assets and liabilities of consolidated VIEs in the Company’s Condensed Consolidated Balance Sheets.
(Dollars in thousands)As of September 30, 2025As of June 30, 2025
Restricted cash$34,836 $— 
Loans—net of allowance for credit losses
1,876,611 1,276,101 
Other assets158,353 — 
Secured financings
753,501 — 
Accounts payable and other liabilities2,207 — 
Schedule of Secured Financing The notes outstanding as of September 30, 2025 are included in “Secured financings” in the Company’s Condensed Consolidated Balance Sheet and are summarized in the below table:
Series
Classes
Interest Rate Range
Maturity Date / Range
Outstanding Principal at September 30, 2025
(Dollars in thousands)
2022-01
Class A, B, C, D
6.59% to 8.67%
February 2030
$14,963 
2023-01
Class A-1, A-2, B, C, D
6.05% to 7.75%
January 2031
129,906 
2024-01
Class A-1, A-2, B, C, D
5.68% to 7.23%
December 2031
215,938 
2025-01
Class A-1, A-2, A-3, B, C, D
4.66% to 6.49%
March 2028 to
May 2033
376,161 
Total
$736,968 
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Thousands
 3 Months Ended
Dec. 07, 2023
USD ($)
loanPortfolio
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2025
entity
Sep. 30, 2025
lending-relatedEntity
Jun. 30, 2025
USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]          
Number of lending-related trust entities     3 3  
Number of loan portfolio segments | segment   5      
Unpaid principal balance   $ 22,635,137     $ 21,049,610
Real Estate Loan Portfolios | Commercial Real Estate          
Financing Receivable, Allowance for Credit Loss [Line Items]          
Number of loan portfolio segments | loanPortfolio 2        
Unpaid principal balance $ 1,300,000        
Unpaid principal balance, discount to par 37.00%        
v3.25.3
ACQUISITIONS - SCHEDULE OF PURCHASE PRICE FOR THE ACQUISITION (Details) - Verdant Commercial Capital, LLC
$ in Thousands
Sep. 30, 2025
USD ($)
Business Combination [Line Items]  
Adjusted Verdant book value $ 39,301
Purchase price premium paid by Axos 3,930
PURCHASE PRICE $ 43,231
v3.25.3
ACQUISITIONS - NARRATIVE (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Asset Acquisition [Line Items]      
Net income   $ 112,352 $ 112,340
Verdant Commercial Capital, LLC      
Asset Acquisition [Line Items]      
Business combination, loans and leases acquired $ 1,200,000 1,200,000  
Business combination, total consideration 571,817 571,817  
Amount paid to settle certain debt of Verdant, excluding $2.2 million of transaction costs included in the purchase price 500,000    
Adjusted Verdant book value 41,000    
Accounts payable and other liabilities—Contingent Consideration $ 30,810 30,810  
Business combination, contingent consideration, earning period 4 years    
Proforma certain adjustments $ 1,300    
Verdant Commercial Capital, LLC | Verdant      
Asset Acquisition [Line Items]      
Net income   $ 5,800  
Verdant Commercial Capital, LLC | Minimum      
Asset Acquisition [Line Items]      
Business combination, contingent consideration, liability 0    
Verdant Commercial Capital, LLC | Maximum      
Asset Acquisition [Line Items]      
Business combination, contingent consideration, liability $ 50,000    
v3.25.3
ACQUISITIONS - SCHEDULE OF PURCHASE PRICE ALLOCATION (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
ASSETS:        
Allowance for credit losses at acquisition $ (307,431) $ (290,049) $ (263,854) $ (260,542)
Verdant Commercial Capital, LLC        
ASSETS:        
Cash and cash equivalents 31,635      
Restricted cash 34,924      
Loans—net of allowance for credit losses of $7,795 1,020,322      
Other assets 223,842      
Goodwill and other intangible assets—net 72,767      
TOTAL ASSETS 1,383,490      
LIABILITIES:        
Secured financings 782,423      
Accounts payable and other liabilities 29,250      
TOTAL LIABILITIES 811,673      
TOTAL CONSIDERATION (Including $500.0 million to settle certain debt of Verdant and $30.8 million of Contingent Consideration) 571,817      
Amount paid to settle certain debt of Verdant, excluding $2.2 million of transaction costs included in the purchase price (500,000)      
Contingent Consideration 30,810      
Business combination, transaction costs 2,200      
Amount paid to settle certain debt of Verdant, excluding $2.2 million of transaction costs included in the purchase price (497,776)      
Total consideration transferred 43,231      
Verdant Commercial Capital, LLC | Equipment Under Operating Lease        
ASSETS:        
Other assets 212,600      
Verdant Commercial Capital, LLC | PCD Portfolio Segment        
ASSETS:        
Loans—net of allowance for credit losses of $7,795 211,000      
Allowance for credit losses at acquisition $ (7,795)      
v3.25.3
ACQUISITIONS -SCHEDULE OF INTANGIBLE ASSETS ACQUIRED (Details) - Verdant Commercial Capital, LLC - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Business Combination [Line Items]    
Intangible assets   $ 18,900
Weighted-Average Life (Years) 9 years 7 months 6 days  
Vendor relationships    
Business Combination [Line Items]    
Intangible assets   11,200
Weighted-Average Life (Years) 13 years 7 months 6 days  
Trade name    
Business Combination [Line Items]    
Intangible assets   2,600
Weighted-Average Life (Years) 5 years  
Developed technologies    
Business Combination [Line Items]    
Intangible assets   $ 5,100
Weighted-Average Life (Years) 3 years  
v3.25.3
ACQUISITIONS - SCHEDULE OF PCD LOANS ACQUIRED (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Asset Acquisition [Line Items]        
Allowance for credit losses at acquisition $ (307,431) $ (290,049) $ (263,854) $ (260,542)
Total net loans 22,635,137 $ 21,049,610    
PCD Portfolio Segment | Verdant Commercial Capital, LLC        
Asset Acquisition [Line Items]        
Unpaid principal balance 211,002      
Non-credit discount (342)      
Allowance for credit losses at acquisition (7,795)      
Total net loans $ 202,865      
v3.25.3
ACQUISITIONS - SCHEDULE OF PRO FORMA INFORMATION (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]    
Net interest income $ 297,473 $ 295,460
Non-interest income 35,340 31,365
Net income $ 104,433 $ 106,718
v3.25.3
FAIR VALUE - SCHEDULE OF ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
ASSETS:    
Trading securities $ 533 $ 649
Available-for-sale securities 57,798 66,008
Loans held for sale 12,202 10,012
Other assets—Derivative instruments 17,892 17,734
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments $ 64,619 $ 68,498
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accounts payable and other liabilities Accounts payable and other liabilities
Agency MBS    
ASSETS:    
Available-for-sale securities $ 46,606 $ 46,757
Non-Agency MBS    
ASSETS:    
Available-for-sale securities 11,192 15,569
Municipal    
ASSETS:    
Available-for-sale securities   3,682
Recurring    
ASSETS:    
Trading securities 533 649
Available-for-sale securities 57,798 66,008
Loans held for sale 12,202 10,012
Servicing rights 26,243 27,218
Other assets—Derivative instruments 17,892 17,734
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Accounts payable and other liabilities—Contingent Consideration 30,810  
Recurring | Agency MBS    
ASSETS:    
Available-for-sale securities 46,606 46,757
Recurring | Non-Agency MBS    
ASSETS:    
Available-for-sale securities 11,192 15,569
Recurring | Municipal    
ASSETS:    
Available-for-sale securities 0 3,682
Significant Other Observable Inputs (Level 2)    
ASSETS:    
Trading securities 533 649
Available-for-sale securities 46,606 50,439
Loans held for sale 12,202 10,012
Servicing rights 0 0
Other assets—Derivative instruments 17,892 17,734
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Accounts payable and other liabilities—Contingent Consideration 0  
Significant Other Observable Inputs (Level 2) | Recurring    
ASSETS:    
Trading securities 533 649
Available-for-sale securities 46,606 50,439
Loans held for sale 12,202 10,012
Servicing rights 0 0
Other assets—Derivative instruments 17,892 17,734
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Accounts payable and other liabilities—Contingent Consideration 0  
Significant Other Observable Inputs (Level 2) | Recurring | Agency MBS    
ASSETS:    
Available-for-sale securities 46,606 46,757
Significant Other Observable Inputs (Level 2) | Recurring | Non-Agency MBS    
ASSETS:    
Available-for-sale securities 0 0
Significant Other Observable Inputs (Level 2) | Recurring | Municipal    
ASSETS:    
Available-for-sale securities 0 3,682
Significant Unobservable Inputs (Level 3)    
ASSETS:    
Trading securities 0 0
Available-for-sale securities 11,192 15,569
Loans held for sale 0 0
Servicing rights 26,243 27,218
Other assets—Derivative instruments 0 0
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments 0 0
Accounts payable and other liabilities—Contingent Consideration 30,810  
Significant Unobservable Inputs (Level 3) | Recurring    
ASSETS:    
Trading securities 0 0
Available-for-sale securities 11,192 15,569
Loans held for sale 0 0
Servicing rights 26,243 27,218
Other assets—Derivative instruments 0 0
LIABILITIES:    
Accounts payable and other liabilities—Derivative instruments 0 0
Accounts payable and other liabilities—Contingent Consideration 30,810  
Significant Unobservable Inputs (Level 3) | Recurring | Agency MBS    
ASSETS:    
Available-for-sale securities 0 0
Significant Unobservable Inputs (Level 3) | Recurring | Non-Agency MBS    
ASSETS:    
Available-for-sale securities 11,192 15,569
Significant Unobservable Inputs (Level 3) | Recurring | Municipal    
ASSETS:    
Available-for-sale securities $ 0 $ 0
v3.25.3
FAIR VALUE - SCHEDULE OF LEVEL 3 ASSETS MEASURED ON RECURRING BASIS (Details) - Recurring - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Opening Balance $ 42,787 $ 139,852
Included in earnings—Mortgage banking and servicing rights income (1,189) (1,852)
Included in other comprehensive income 116 782
Purchases, retentions, issues, sales and settlements:    
Purchases/Retentions 31,024 263
Settlements (4,493) (20,401)
Closing balance 68,245 118,644
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period (1,189) (1,852)
Principal payments and loans that were paid down or paid off 400 200
Market-driven increase (decrease) in interest rates 800 1,600
Available-for-sale Securities: Non-Agency MBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Opening Balance 15,569 110,928
Included in earnings—Mortgage banking and servicing rights income 0 0
Included in other comprehensive income 116 782
Purchases, retentions, issues, sales and settlements:    
Purchases/Retentions 0 0
Settlements (4,493) (20,401)
Closing balance 11,192 91,309
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period 0 0
Servicing Rights    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Opening Balance 27,218 28,924
Included in earnings—Mortgage banking and servicing rights income (1,189) (1,852)
Included in other comprehensive income 0 0
Purchases, retentions, issues, sales and settlements:    
Purchases/Retentions 214 263
Settlements 0 0
Closing balance 26,243 27,335
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period (1,189) $ (1,852)
Accounts payable and other liabilities—Contingent Consideration    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Opening Balance 0  
Included in earnings—Mortgage banking and servicing rights income 0  
Included in other comprehensive income 0  
Purchases, retentions, issues, sales and settlements:    
Purchases/Retentions 30,810  
Settlements 0  
Closing balance 30,810  
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period $ 0  
v3.25.3
FAIR VALUE - SCHEDULE OF QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASURMENTS (RECURRING) (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
year
a
Jun. 30, 2025
USD ($)
a
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS $ 57,798 $ 66,008
Available-for-sale Securities: Non-Agency MBS    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS 11,192 15,569
Recurring    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS 57,798 66,008
Servicing rights 26,243 27,218
Accounts payable and other liabilities—Contingent Consideration 30,810  
Recurring | Available-for-sale Securities: Non-Agency MBS    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS 11,192 15,569
Level 3    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS 11,192 15,569
Servicing rights 26,243 27,218
Accounts payable and other liabilities—Contingent Consideration 30,810  
Level 3 | Recurring    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS 11,192 15,569
Servicing rights 26,243 27,218
Accounts payable and other liabilities—Contingent Consideration 30,810  
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Available-for-sale securities: Non-Agency MBS $ 11,192 $ 15,569
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Minimum | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.025 0.025
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Minimum | Projected Constant Default Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.015 0.015
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Minimum | Projected Loss Severity    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.350 0.350
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Minimum | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.025 0.025
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Minimum | Credit Enhancement    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.000 0.000
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Maximum | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.300 0.300
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Maximum | Projected Constant Default Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.099 0.119
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Maximum | Projected Loss Severity    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.689 0.689
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Maximum | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.043 0.041
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Maximum | Credit Enhancement    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.656 0.990
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Weighted Average | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.201 0.224
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Weighted Average | Projected Constant Default Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.061 0.087
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Weighted Average | Projected Loss Severity    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.466 0.434
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Weighted Average | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.028 0.027
Level 3 | Recurring | Available-for-sale Securities: Non-Agency MBS | Weighted Average | Credit Enhancement    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Securities available-for-sale, measurement input 0.418 0.228
Level 3 | Recurring | Servicing Rights    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Servicing rights $ 26,243 $ 27,218
Level 3 | Recurring | Servicing Rights | Minimum | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.052 0.052
Level 3 | Recurring | Servicing Rights | Minimum | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.095 0.095
Level 3 | Recurring | Servicing Rights | Minimum | Life (in years)    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 2.2 0.025
Level 3 | Recurring | Servicing Rights | Maximum | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.287 0.266
Level 3 | Recurring | Servicing Rights | Maximum | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.112 0.112
Level 3 | Recurring | Servicing Rights | Maximum | Life (in years)    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 12.7 0.128
Level 3 | Recurring | Servicing Rights | Weighted Average | Projected Constant Prepayment Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.103 0.097
Level 3 | Recurring | Servicing Rights | Weighted Average | Discount Rate    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 0.098 0.098
Level 3 | Recurring | Servicing Rights | Weighted Average | Life (in years)    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Mortgage servicing right, measurement input 8.9 0.093
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Accounts payable and other liabilities—Contingent Consideration $ 30,810  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Minimum | Monthly Asset Growth    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a (0.074)  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Minimum | Credit Spread    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a 0.029  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Maximum | Monthly Asset Growth    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a 0.145  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Maximum | Credit Spread    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a 0.029  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Weighted Average | Monthly Asset Growth    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a 0.036  
Level 3 | Recurring | Accounts payable and other liabilities—Contingent Consideration | Weighted Average | Credit Spread    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Contingent consideration, measurement input | a 0.029  
v3.25.3
FAIR VALUE - SCHEDULE OF LOANS HELD-FOR-SALE (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2025
Fair Value Disclosures [Abstract]      
Aggregate fair value $ 12,202   $ 10,012
Contractual balance 11,931   9,870
Unrealized gain 271   $ 142
Interest income 181 $ 288  
Change in fair value 540 17  
Total $ 721 $ 305  
v3.25.3
FAIR VALUE - SCHEDULE OF ESTIMATED FAIR VALUES OF FINANCIAL INSTRUMENTS AT PERIOD-END (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Financial assets:    
Trading securities $ 533 $ 649
Available-for-sale securities 57,798 66,008
Stock of regulatory agencies 35,299 35,163
Loans held for sale, at fair value 12,202 10,012
Securities borrowed 182,518 139,396
Other assets—Derivative instruments $ 17,892 $ 17,734
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Financial liabilities:    
Securities loaned $ 204,620 $ 139,426
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Level 1    
Financial assets:    
Cash, cash equivalents and restricted cash 2,885,595 2,176,354
Trading securities 0 0
Available-for-sale securities 0 0
Stock of regulatory agencies 0 0
Loans held for sale, at fair value 0 0
Loans held for investment—net 0 0
Securities borrowed 0 0
Customer, broker-dealer and clearing receivables 0 0
Servicing rights 0 0
Other assets—Derivative instruments 0 0
Financial liabilities:    
Total deposits 0 0
Advances from the Federal Home Loan Bank 0 0
Secured financings 0  
Borrowings, subordinated notes and debentures 0 0
Securities loaned 0 0
Customer, broker-dealer and clearing payables 0 0
Accounts payable and other liabilities—Derivative instruments 0 0
Accounts payable and other liabilities—Contingent Consideration 0  
Level 2    
Financial assets:    
Cash, cash equivalents and restricted cash 0 0
Trading securities 533 649
Available-for-sale securities 46,606 50,439
Stock of regulatory agencies 35,299 35,163
Loans held for sale, at fair value 12,202 10,012
Loans held for investment—net 0 0
Securities borrowed 0 0
Customer, broker-dealer and clearing receivables 0 0
Servicing rights 0 0
Other assets—Derivative instruments 17,892 17,734
Financial liabilities:    
Total deposits 21,943,152 20,642,953
Advances from the Federal Home Loan Bank 57,203 56,934
Secured financings 782,423  
Borrowings, subordinated notes and debentures 490,626 285,282
Securities loaned 0 0
Customer, broker-dealer and clearing payables 0 0
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Accounts payable and other liabilities—Contingent Consideration 0  
Level 3    
Financial assets:    
Cash, cash equivalents and restricted cash 0 0
Trading securities 0 0
Available-for-sale securities 11,192 15,569
Stock of regulatory agencies 0 0
Loans held for sale, at fair value 0 0
Loans held for investment—net 22,879,586 21,288,921
Securities borrowed 180,783 138,103
Customer, broker-dealer and clearing receivables 261,446 251,126
Servicing rights 26,243 27,218
Other assets—Derivative instruments 0 0
Financial liabilities:    
Total deposits 0 0
Advances from the Federal Home Loan Bank 0 0
Secured financings 0  
Borrowings, subordinated notes and debentures 0 0
Securities loaned 203,553 138,698
Customer, broker-dealer and clearing payables 385,821 350,606
Accounts payable and other liabilities—Derivative instruments 0 0
Accounts payable and other liabilities—Contingent Consideration 30,810  
Carrying Amount    
Financial assets:    
Cash, cash equivalents and restricted cash 2,885,595 2,176,354
Trading securities 533 649
Available-for-sale securities 57,798 66,008
Stock of regulatory agencies 35,299 35,163
Loans held for sale, at fair value 12,202 10,012
Loans held for investment—net 22,635,137 21,049,610
Securities borrowed 182,518 139,396
Customer, broker-dealer and clearing receivables 263,095 252,720
Servicing rights 26,243 27,218
Other assets—Derivative instruments 17,892 17,734
Financial liabilities:    
Total deposits 22,264,753 20,829,543
Advances from the Federal Home Loan Bank 60,000 60,000
Secured financings 782,423  
Borrowings, subordinated notes and debentures 510,064 312,671
Securities loaned 204,620 139,426
Customer, broker-dealer and clearing payables 385,821 350,606
Accounts payable and other liabilities—Derivative instruments 64,619 68,498
Accounts payable and other liabilities—Contingent Consideration 30,810  
Total Fair Value    
Financial assets:    
Cash, cash equivalents and restricted cash 2,885,595 2,176,354
Trading securities 533 649
Available-for-sale securities 57,798 66,008
Stock of regulatory agencies 35,299 35,163
Loans held for sale, at fair value 12,202 10,012
Loans held for investment—net 22,879,586 21,288,921
Securities borrowed 180,783 138,103
Customer, broker-dealer and clearing receivables 261,446 251,126
Servicing rights 26,243 27,218
Other assets—Derivative instruments 17,892 17,734
Financial liabilities:    
Total deposits 21,943,152 20,642,953
Advances from the Federal Home Loan Bank 57,203 56,934
Secured financings 782,423  
Borrowings, subordinated notes and debentures 490,626 285,282
Securities loaned 203,553 138,698
Customer, broker-dealer and clearing payables 385,821 350,606
Accounts payable and other liabilities—Derivative instruments 64,619 $ 68,498
Accounts payable and other liabilities—Contingent Consideration $ 30,810  
v3.25.3
AVAILABLE-FOR-SALE SECURITIES - SCHEDULE OF AMORTIZED COST, CARRYING AMOUNT AND FAIR VALUE DISCLOSURES (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost $ 57,746 $ 66,306
Unrealized Gains 1,719 1,559
Unrealized Losses (1,667) (1,857)
Fair Value 57,798 66,008
Agency    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 47,845 48,229
Unrealized Gains 389 327
Unrealized Losses (1,628) (1,799)
Fair Value 46,606 46,757
Non-agency    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 9,901 14,395
Unrealized Gains 1,330 1,232
Unrealized Losses (39) (58)
Fair Value 11,192 15,569
Total mortgage-backed securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 57,746 62,624
Unrealized Gains 1,719 1,559
Unrealized Losses (1,667) (1,857)
Fair Value $ 57,798 62,326
Municipal    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost   3,682
Unrealized Gains   0
Unrealized Losses   0
Fair Value   $ 3,682
v3.25.3
AVAILABLE-FOR-SALE SECURITIES - NARRATIVE (Details) - USD ($)
$ in Millions
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2025
Debt Securities, Available-for-sale [Line Items]      
Available-for-sale securities, credit losses $ 0.0 $ 0.0  
Allowance for credit losses, available-for-sale securities 0.0   $ 0.0
Proceeds from sale of available-for-sale securities 0.0    
Asset Pledged as Collateral      
Debt Securities, Available-for-sale [Line Items]      
Available-for-sale securities pledged as collateral $ 0.6   $ 0.6
v3.25.3
AVAILABLE-FOR-SALE SECURITIES - SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Fair Value    
Less Than 12 Months $ 2,205 $ 2,246
More Than 12 Months 16,233 26,907
Total 18,438 29,153
Gross Unrealized Losses    
Less Than 12 Months (22) (43)
More Than 12 Months (1,645) (1,814)
Total (1,667) (1,857)
Agency    
Fair Value    
Less Than 12 Months 106 108
More Than 12 Months 16,034 16,212
Total 16,140 16,320
Gross Unrealized Losses    
Less Than 12 Months (1) 0
More Than 12 Months (1,627) (1,799)
Total (1,628) (1,799)
Non-agency    
Fair Value    
Less Than 12 Months 2,099 2,138
More Than 12 Months 199 10,695
Total 2,298 12,833
Gross Unrealized Losses    
Less Than 12 Months (21) (43)
More Than 12 Months (18) (15)
Total (39) (58)
Total MBS    
Fair Value    
Less Than 12 Months 2,205 2,246
More Than 12 Months 16,233 26,907
Total 18,438 29,153
Gross Unrealized Losses    
Less Than 12 Months (22) (43)
More Than 12 Months (1,645) (1,814)
Total $ (1,667) $ (1,857)
v3.25.3
AVAILABLE-FOR-SALE SECURITIES - SCHEDULE OF INVESTMENTS CLASSIFIED BY CONTRACTUAL MATURITY DATE (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Available-for-sale—Fair value    
Amortized Cost $ 57,746 $ 66,306
Available-for-sale—Amortized cost    
Total Amount 57,746  
Due Within One Year 18,697  
Due after One but within Five Years 30,852  
Due after Five but within Ten Years 5,861  
Due After Ten Years 2,336  
Fair Value    
Available-for-sale—Fair value    
Amortized Cost 57,798  
Due Within One Year 18,655  
Due after One but within Five Years 30,681  
Due after Five but within Ten Years 6,017  
Due After Ten Years 2,445  
Agency    
Available-for-sale—Fair value    
Amortized Cost 47,845 48,229
Due Within One Year 11,999  
Due after One but within Five Years 29,382  
Due after Five but within Ten Years 4,746  
Due After Ten Years 1,718  
Non-agency    
Available-for-sale—Fair value    
Amortized Cost 9,901 14,395
Due Within One Year 6,698  
Due after One but within Five Years 1,470  
Due after Five but within Ten Years 1,115  
Due After Ten Years 618  
Total mortgage-backed securities    
Available-for-sale—Fair value    
Amortized Cost 57,746 62,624
Due Within One Year 18,697  
Due after One but within Five Years 30,852  
Due after Five but within Ten Years 5,861  
Due After Ten Years $ 2,336  
Municipal    
Available-for-sale—Fair value    
Amortized Cost   $ 3,682
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - NARRATIVE (Details)
 3 Months Ended
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]      
Number of loan portfolio segments | segment 5    
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Other assets   Other assets
Accrued interest receivable on loans held for investments $ 120,800,000   $ 109,600,000
Advances, collateral pledged 4,112,000,000   4,284,700,000
FRBSF and FRB, loans pledged 8,320,300,000   8,227,700,000
Nonaccrual loans 0   0
Interest income recognized on nonaccrual loans 0 $ 0  
Loans past due ninety days or more and still accruing 0   0
Mortgage loans in process of foreclosure, amount 36,000,000   $ 30,400,000
Verdant Commercial Capital, LLC      
Financing Receivable, Allowance for Credit Loss [Line Items]      
Loans acquired 1,020,322,000    
Verdant Commercial Capital, LLC | PCD Portfolio Segment      
Financing Receivable, Allowance for Credit Loss [Line Items]      
Loans acquired $ 211,000,000    
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF COMPOSITION OF LOAN PORTFOLIO (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans $ 23,142,248 $ 21,551,697    
Allowance for credit losses - loans (307,431) (290,049) $ (263,854) $ (260,542)
Unaccreted premiums (discounts) and loan fees (199,680) (212,038)    
Total net loans 22,635,137 21,049,610    
Single Family - Mortgage & Warehouse        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 4,540,889 4,395,278    
Allowance for credit losses - loans (10,171) (12,109) (17,453) (16,943)
Multifamily and Commercial Mortgage        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 2,793,762 2,940,739    
Allowance for credit losses - loans (21,283) (26,238) (65,608) (70,771)
Commercial Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 7,295,572 6,937,187    
Allowance for credit losses - loans (120,349) (113,804) (95,032) (87,780)
Commercial & Industrial - Non-RE        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 7,980,981 6,795,497    
Allowance for credit losses - loans (138,037) (121,641) (76,555) (76,032)
Auto & Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 531,044 482,996    
Allowance for credit losses - loans $ (17,591) $ (16,257) $ (9,206) $ (9,016)
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF REAL ESTATE LOANS, LTV RATIO (Details)
Sep. 30, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted-Average LTV 48.00%
Median LTV 51.00%
Single Family - Mortgage & Warehouse  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted-Average LTV 57.00%
Median LTV 53.00%
Multifamily and Commercial Mortgage  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted-Average LTV 49.00%
Median LTV 47.00%
Commercial Real Estate  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted-Average LTV 43.00%
Median LTV 43.00%
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF COMPONENTS OF THE PROVISION FOR CREDIT LOSSES (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total provision for credit losses $ 17,255 $ 14,000
Provision for credit losses - loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total provision for credit losses 15,255 11,500
Provision for credit losses - unfunded lending commitments    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total provision for credit losses $ 2,000 $ 2,500
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF ACTIVITY FOR ALLOWANCE FOR CREDIT LOSSES-LOANS (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 290,049 $ 260,542
Allowance for credit losses at acquisition of PCD loans 7,795  
Provision (benefit) for credit losses - loans 17,255 14,000
Charge-offs (6,358) (9,238)
Recoveries 690 1,050
End balance 307,431 263,854
Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans 15,255 11,500
Single Family - Mortgage & Warehouse    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 12,109 16,943
Allowance for credit losses at acquisition of PCD loans 0  
Charge-offs (395) 0
Recoveries 28 46
End balance 10,171 17,453
Single Family - Mortgage & Warehouse | Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans (1,571) 464
Multifamily and Commercial Mortgage    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 26,238 70,771
Allowance for credit losses at acquisition of PCD loans 0  
Charge-offs (3,918) (3,357)
Recoveries 0 0
End balance 21,283 65,608
Multifamily and Commercial Mortgage | Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans (1,037) (1,806)
Commercial Real Estate    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 113,804 87,780
Allowance for credit losses at acquisition of PCD loans 0  
Charge-offs (4) 0
Recoveries 0 0
End balance 120,349 95,032
Commercial Real Estate | Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans 6,549 7,252
Commercial & Industrial - Non-RE    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 121,641 76,032
Allowance for credit losses at acquisition of PCD loans 7,795  
Charge-offs (255) (3,032)
Recoveries 0 0
End balance 138,037 76,555
Commercial & Industrial - Non-RE | Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans 8,856 3,555
Auto & Consumer    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 16,257 9,016
Allowance for credit losses at acquisition of PCD loans 0  
Charge-offs (1,786) (2,849)
Recoveries 662 1,004
End balance 17,591 9,206
Auto & Consumer | Provision for credit losses - loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Provision (benefit) for credit losses - loans $ 2,458 $ 2,035
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF ALLOWANCE FOR LOAN LOSS AND RESERVE FOR UNFUNDED LOAN COMMITMENTS (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]    
Beginning balance $ 10,891 $ 10,223
Provision (benefit) for credit losses - unfunded lending commitments 2,000 2,500
End balance $ 12,891 $ 12,723
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF UNPAID PRINCIPAL BALANCE FOR PERFORMING AND NONACCRUAL (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Financing Receivable, Credit Quality Indicator [Line Items]    
Total $ 23,142,248 $ 21,551,697
Nonaccrual loans to total loans 0.74% 0.79%
Single Family - Mortgage & Warehouse    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total $ 4,540,889 $ 4,395,278
Multifamily and Commercial Mortgage    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 2,793,762 2,940,739
Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 7,295,572 6,937,187
Commercial & Industrial - Non-RE    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 7,980,981 6,795,497
Auto & Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 531,044 482,996
Performing    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 22,971,838 21,381,311
Performing | Single Family - Mortgage & Warehouse    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 4,473,002 4,351,082
Performing | Multifamily and Commercial Mortgage    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 2,777,715 2,907,702
Performing | Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 7,273,789 6,907,964
Performing | Commercial & Industrial - Non-RE    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 7,918,445 6,733,693
Performing | Auto & Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 528,887 480,870
Nonaccrual    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 170,410 170,386
Nonaccrual | Single Family - Mortgage & Warehouse    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 67,887 44,196
Nonaccrual | Multifamily and Commercial Mortgage    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 16,047 33,037
Nonaccrual | Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 21,783 29,223
Nonaccrual | Commercial & Industrial - Non-RE    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total 62,536 61,804
Nonaccrual | Auto & Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total $ 2,157 $ 2,126
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF LOANS BY AMORTIZED COST BASIS BY YEAR OF ORIGINATION AND CREDIT QUALITY INDICATOR (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 $ 1,546,496 $ 5,412,403
2025 - 2024 5,578,123 2,547,925
2024 - 2023 2,812,160 2,175,575
2023 - 2022 2,211,952 2,911,537
2022 - 2021 2,687,112 1,098,514
Prior 2,696,961 1,782,450
Revolving Loans 5,609,444 5,623,293
Total 23,142,248 21,551,697
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 589
Gross charge-offs 2025 - 2024 474 1,528
Gross charge-offs 2024 - 2023 153 3,332
Gross charge-offs 2023 - 2022 450 3,910
Gross charge-offs 2022 - 2021 701 6,739
Prior 4,580 12,208
Revolving Loans 0 2,000
Total $ 6,358 $ 30,306
As a % of total gross loans    
2026 - 2025 6.70% 25.10%
2025 - 2024 24.10% 11.80%
2024 - 2023 12.20% 10.10%
2023 - 2022 9.60% 13.50%
2022 - 2021 11.60% 5.10%
Prior 11.70% 8.30%
Revolving Loans 24.20% 26.10%
Total 100.00% 100.00%
Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 $ 1,546,159 $ 5,406,078
2025 - 2024 5,547,463 2,490,906
2024 - 2023 2,672,892 2,148,488
2023 - 2022 2,171,871 2,731,588
2022 - 2021 2,481,364 1,071,097
Prior 2,587,145 1,645,380
Revolving Loans 5,573,555 5,489,416
Total 22,580,449 20,982,953
Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 256 2,424
2025 - 2024 13,896 46,252
2024 - 2023 60,212 8,948
2023 - 2022 7,758 3,410
2022 - 2021 12,389 12,662
Prior 20,758 44,886
Revolving Loans 0 19,990
Total 115,269 138,572
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 81 3,901
2025 - 2024 16,165 10,767
2024 - 2023 79,052 18,139
2023 - 2022 32,320 166,539
2022 - 2021 183,359 14,755
Prior 89,052 92,184
Revolving Loans 35,889 113,887
Total 435,918 420,172
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 599 0
2024 - 2023 4 0
2023 - 2022 3 10,000
2022 - 2021 10,000 0
Prior 6 0
Revolving Loans 0 0
Total 10,612 10,000
Single Family - Mortgage & Warehouse    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 197,266 752,486
2025 - 2024 652,424 270,245
2024 - 2023 235,052 456,692
2023 - 2022 431,261 1,077,539
2022 - 2021 1,055,748 446,326
Prior 1,181,261 782,617
Revolving Loans 787,877 609,373
Total 4,540,889 4,395,278
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 0
Gross charge-offs 2025 - 2024 0 340
Gross charge-offs 2024 - 2023 0 0
Gross charge-offs 2023 - 2022 0 400
Gross charge-offs 2022 - 2021 48 0
Prior 347 2,296
Revolving Loans 0 0
Total 395 3,036
Single Family - Mortgage & Warehouse | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 197,266 750,357
2025 - 2024 652,424 269,165
2024 - 2023 233,972 451,330
2023 - 2022 426,758 1,067,144
2022 - 2021 1,033,680 434,352
Prior 1,108,076 715,620
Revolving Loans 787,877 599,406
Total 4,440,053 4,287,374
Single Family - Mortgage & Warehouse | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 2,129
2025 - 2024 0 1,080
2024 - 2023 1,080 5,362
2023 - 2022 0 3,140
2022 - 2021 10,689 5,254
Prior 19,087 26,604
Revolving Loans 0 9,967
Total 30,856 53,536
Single Family - Mortgage & Warehouse | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 4,503 7,255
2022 - 2021 11,379 6,720
Prior 54,098 40,393
Revolving Loans 0 0
Total 69,980 54,368
Single Family - Mortgage & Warehouse | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 0 0
2022 - 2021 0 0
Prior 0 0
Revolving Loans 0 0
Total 0 0
Multifamily and Commercial Mortgage    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 28,237 75,755
2025 - 2024 75,585 22,435
2024 - 2023 21,577 644,050
2023 - 2022 643,486 872,388
2022 - 2021 818,455 429,938
Prior 1,206,422 894,723
Revolving Loans 0 1,450
Total 2,793,762 2,940,739
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 0
Gross charge-offs 2025 - 2024 0 375
Gross charge-offs 2024 - 2023 0 86
Gross charge-offs 2023 - 2022 0 5
Gross charge-offs 2022 - 2021 0 0
Prior 3,918 8,099
Revolving Loans 0 0
Total 3,918 8,565
Multifamily and Commercial Mortgage | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 28,237 75,755
2025 - 2024 75,585 22,435
2024 - 2023 21,577 632,120
2023 - 2022 631,556 859,189
2022 - 2021 801,448 422,683
Prior 1,191,542 842,787
Revolving Loans 1,450
Total 2,749,945 2,856,419
Multifamily and Commercial Mortgage | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 3,400
2023 - 2022 3,400 0
2022 - 2021 0 7,255
Prior 1,547 18,272
Revolving Loans 0 0
Total 4,947 28,927
Multifamily and Commercial Mortgage | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 8,530
2023 - 2022 8,530 13,199
2022 - 2021 17,007 0
Prior 13,333 33,664
Revolving Loans 0 0
Total 38,870 55,393
Multifamily and Commercial Mortgage | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 0 0
2022 - 2021 0 0
Prior 0 0
Revolving Loans 0 0
Total 0 0
Commercial Real Estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 512,926 3,135,530
2025 - 2024 3,112,458 1,342,372
2024 - 2023 1,372,529 679,875
2023 - 2022 696,274 585,142
2022 - 2021 409,209 157,581
Prior 196,219 61,937
Revolving Loans 995,957 974,750
Total 7,295,572 6,937,187
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 0
Gross charge-offs 2025 - 2024 0 0
Gross charge-offs 2024 - 2023 0 0
Gross charge-offs 2023 - 2022 0 165
Gross charge-offs 2022 - 2021 4 0
Prior 0 0
Revolving Loans 0 0
Total 4 165
Commercial Real Estate | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 512,926 3,135,530
2025 - 2024 3,112,458 1,342,372
2024 - 2023 1,372,529 679,875
2023 - 2022 689,214 575,642
2022 - 2021 409,209 152,581
Prior 181,498 47,214
Revolving Loans 981,352 960,145
Total 7,259,186 6,893,359
Commercial Real Estate | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 0 0
2022 - 2021 0 0
Prior 0 0
Revolving Loans
Total 0 0
Commercial Real Estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 7,060 9,500
2022 - 2021 0 5,000
Prior 14,721 14,723
Revolving Loans 14,605 14,605
Total 36,386 43,828
Commercial Real Estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 0 0
2022 - 2021 0 0
Prior 0 0
Revolving Loans 0 0
Total 0 0
Commercial & Industrial - Non-RE    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 710,985 1,234,865
2025 - 2024 1,535,297 865,186
2024 - 2023 1,138,591 319,287
2023 - 2022 379,756 266,163
2022 - 2021 307,865 40,976
Prior 82,877 31,300
Revolving Loans 3,825,610 4,037,720
Total 7,980,981 6,795,497
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 0
Gross charge-offs 2025 - 2024 0 0
Gross charge-offs 2024 - 2023 0 883
Gross charge-offs 2023 - 2022 0 0
Gross charge-offs 2022 - 2021 0 5,942
Prior 255 0
Revolving Loans 0 2,000
Total 255 8,825
Commercial & Industrial - Non-RE | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 710,648 1,231,118
2025 - 2024 1,505,243 809,347
2024 - 2023 1,000,419 310,043
2023 - 2022 363,791 120,385
2022 - 2021 142,039 38,397
Prior 76,615 28,311
Revolving Loans 3,804,326 3,928,415
Total 7,603,081 6,466,016
Commercial & Industrial - Non-RE | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 256 0
2025 - 2024 13,606 45,120
2024 - 2023 59,132 0
2023 - 2022 4,026 0
2022 - 2021 1,537 93
Prior 71 0
Revolving Loans 0 10,023
Total 78,628 55,236
Commercial & Industrial - Non-RE | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 81 3,747
2025 - 2024 15,849 10,719
2024 - 2023 79,036 9,244
2023 - 2022 11,936 135,778
2022 - 2021 154,289 2,486
Prior 6,185 2,989
Revolving Loans 21,284 99,282
Total 288,660 264,245
Commercial & Industrial - Non-RE | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 599 0
2024 - 2023 4 0
2023 - 2022 3 10,000
2022 - 2021 10,000 0
Prior 6 0
Revolving Loans 0 0
Total 10,612 10,000
Auto & Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 97,082 213,767
2025 - 2024 202,359 47,687
2024 - 2023 44,411 75,671
2023 - 2022 61,175 110,305
2022 - 2021 95,835 23,693
Prior 30,182 11,873
Revolving Loans 0 0
Total 531,044 482,996
Year-to-date gross charge-offs    
Gross charge-offs 2026 - 2025 0 589
Gross charge-offs 2025 - 2024 474 813
Gross charge-offs 2024 - 2023 153 2,363
Gross charge-offs 2023 - 2022 450 3,340
Gross charge-offs 2022 - 2021 649 797
Prior 60 1,813
Revolving Loans 0 0
Total 1,786 9,715
Auto & Consumer | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 97,082 213,318
2025 - 2024 201,753 47,587
2024 - 2023 44,395 75,120
2023 - 2022 60,552 109,228
2022 - 2021 94,988 23,084
Prior 29,414 11,448
Revolving Loans 0 0
Total 528,184 479,785
Auto & Consumer | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 295
2025 - 2024 290 52
2024 - 2023 0 186
2023 - 2022 332 270
2022 - 2021 163 60
Prior 53 10
Revolving Loans 0 0
Total 838 873
Auto & Consumer | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 154
2025 - 2024 316 48
2024 - 2023 16 365
2023 - 2022 291 807
2022 - 2021 684 549
Prior 715 415
Revolving Loans 0 0
Total 2,022 2,338
Auto & Consumer | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2026 - 2025 0 0
2025 - 2024 0 0
2024 - 2023 0 0
2023 - 2022 0 0
2022 - 2021 0 0
Prior 0 0
Revolving Loans 0 0
Total $ 0 $ 0
v3.25.3
LOANS & ALLOWANCE FOR CREDIT LOSSES - SCHEDULE OF PAST DUE LOANS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Financing Receivable, Past Due [Line Items]    
Total $ 23,142,248 $ 21,551,697
As a % of total gross loans 100.00% 100.00%
Current    
Financing Receivable, Past Due [Line Items]    
Total $ 22,899,795 $ 21,355,691
As a % of total gross loans 98.95% 99.09%
30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total $ 99,341 $ 52,976
As a % of total gross loans 0.43% 0.25%
60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total $ 28,025 $ 24,924
As a % of total gross loans 0.12% 0.12%
90+ Days    
Financing Receivable, Past Due [Line Items]    
Total $ 115,087 $ 118,106
As a % of total gross loans 0.50% 0.55%
Single Family - Mortgage & Warehouse    
Financing Receivable, Past Due [Line Items]    
Total $ 4,540,889 $ 4,395,278
Single Family - Mortgage & Warehouse | Current    
Financing Receivable, Past Due [Line Items]    
Total 4,450,628 4,322,681
Single Family - Mortgage & Warehouse | 30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total 18,357 13,302
Single Family - Mortgage & Warehouse | 60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total 10,377 16,395
Single Family - Mortgage & Warehouse | 90+ Days    
Financing Receivable, Past Due [Line Items]    
Total 61,527 42,900
Multifamily and Commercial Mortgage    
Financing Receivable, Past Due [Line Items]    
Total 2,793,762 2,940,739
Multifamily and Commercial Mortgage | Current    
Financing Receivable, Past Due [Line Items]    
Total 2,774,831 2,870,972
Multifamily and Commercial Mortgage | 30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total 3,379 36,649
Multifamily and Commercial Mortgage | 60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total 2,713 549
Multifamily and Commercial Mortgage | 90+ Days    
Financing Receivable, Past Due [Line Items]    
Total 12,839 32,569
Commercial Real Estate    
Financing Receivable, Past Due [Line Items]    
Total 7,295,572 6,937,187
Commercial Real Estate | Current    
Financing Receivable, Past Due [Line Items]    
Total 7,273,849 6,900,904
Commercial Real Estate | 30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total 0 0
Commercial Real Estate | 60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total 0 7,060
Commercial Real Estate | 90+ Days    
Financing Receivable, Past Due [Line Items]    
Total 21,723 29,223
Commercial & Industrial - Non-RE    
Financing Receivable, Past Due [Line Items]    
Total 7,980,981 6,795,497
Commercial & Industrial - Non-RE | Current    
Financing Receivable, Past Due [Line Items]    
Total 7,876,062 6,783,440
Commercial & Industrial - Non-RE | 30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total 73,511 0
Commercial & Industrial - Non-RE | 60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total 13,906 0
Commercial & Industrial - Non-RE | 90+ Days    
Financing Receivable, Past Due [Line Items]    
Total 17,502 12,057
Auto & Consumer    
Financing Receivable, Past Due [Line Items]    
Total 531,044 482,996
Auto & Consumer | Current    
Financing Receivable, Past Due [Line Items]    
Total 524,425 477,694
Auto & Consumer | 30-59 Days    
Financing Receivable, Past Due [Line Items]    
Total 4,094 3,025
Auto & Consumer | 60-89 Days    
Financing Receivable, Past Due [Line Items]    
Total 1,029 920
Auto & Consumer | 90+ Days    
Financing Receivable, Past Due [Line Items]    
Total $ 1,496 $ 1,357
v3.25.3
DERIVATIVES - SCHEDULE OF DERIVATIVE INSTRUMENTS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Derivative [Line Items]    
Notional Amount $ 3,037,725 $ 3,170,591
Derivative Assets 17,892 17,734
Derivative Liabilities 64,619 68,498
Interest rate contracts | Designated as Hedging Instrument    
Derivative [Line Items]    
Notional Amount 400,000 400,000
Derivative Assets 1,184 1,950
Derivative Liabilities 0 0
Interest rate contracts | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional Amount 2,627,948 2,761,021
Derivative Assets 16,679 15,782
Derivative Liabilities 64,599 68,427
Foreign exchange contracts | Not Designated as Hedging Instrument    
Derivative [Line Items]    
Notional Amount 9,777 9,570
Derivative Assets 29 2
Derivative Liabilities $ 20 $ 71
v3.25.3
DERIVATIVES - SCHEDULE OF CASH FLOW HEDGE (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Derivative [Line Items]    
Amounts recorded in other comprehensive income (“OCI”) $ 374 $ 553
Amounts reclassified from AOCI to income (1,118) 0
Total change in OCI for period (744) 553
Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Amounts recorded in other comprehensive income (“OCI”) 374 553
Amounts reclassified from AOCI to income (1,118) 0
Total change in OCI for period $ (744) $ 553
v3.25.3
DERIVATIVES - NARRATIVE (Details) - USD ($)
$ in Millions
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Derivative [Line Items]    
Foreign exchange transaction gain (loss) $ 0.5 $ 0.0
Cash Flow Hedging | Designated as Hedging Instrument    
Derivative [Line Items]    
Pre-tax net gain $ 1.2  
Maximum length of time hedged (in years) 2 years  
v3.25.3
DERIVATIVES - SCHEDULE OF GAINS (LOSSES) OF DERIVATIVES INSTRUMENTS (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative Gain Loss Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag Mortgage banking and servicing rights income Mortgage banking and servicing rights income
Banking and service fees | Interest rate contracts | Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, gain (loss) on derivative, net $ (558) $ (1,372)
Banking and service fees | Foreign exchange contracts | Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, gain (loss) on derivative, net 539 0
Mortgage banking and servicing rights income | Interest rate contracts | Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, gain (loss) on derivative, net $ 417 $ (251)
v3.25.3
OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Securities borrowed    
Securities borrowed, Gross Assets / Liabilities $ 182,518 $ 139,396
Securities borrowed, Amounts Offset 0 0
Security borrowed, Net Balance Sheet Amount 182,518 139,396
Securities borrowed, Amounts Not Offset 182,518 139,396
Security borrowed, Net Assets / Liabilities 0 0
Other Assets — Derivative Assets    
Other Assets — Derivative Assets, Gross Assets / Liabilities 17,891 17,734
Other Assets — Derivative Assets, Amounts Offset 0 0
Other Assets — Derivative Assets, Net Balance Sheet Amount 17,891 17,734
Other Assets — Derivative Assets, Amounts Not Offset 10,468 11,174
Other Assets — Derivative Assets, Net Assets / Liabilities 7,423 6,560
Securities loaned    
Securities loaned, Gross Assets / Liabilities 204,620 139,426
Securities loaned, Amounts Offset 0 0
Security loaned, Net Balance Sheet Amount 204,620 139,426
Securities loaned, Amounts Not Offset 204,620 139,426
Securities loaned, Net Assets / Liabilities 0 0
Accounts Payable and Other Liabilities — Derivative Liabilities    
Accounts Payable and Other Liabilities — Derivative Liabilities, Gross Assets / Liabilities 64,618 68,497
Accounts Payable and Other Liabilities — Derivative Liabilities, Amounts Offset 0 0
Accounts Payable and Other Liabilities — Derivative Liabilities, Net Balance Sheet Amount 64,618 68,497
Accounts Payable and Other Liabilities — Derivative Liabilities, Amounts Not Offset 6,682 6,122
Accounts Payable and Other Liabilities — Derivative Liabilities, Net Assets / Liabilities 57,936 62,375
Interest Rate Swap    
Accounts Payable and Other Liabilities — Derivative Liabilities    
Variation margin on centrally-cleared derivatives 50,800 55,400
Interest Rate Swap | Not Designated as Hedging Instrument    
Accounts Payable and Other Liabilities — Derivative Liabilities    
Accounts Payable and Other Liabilities — Derivative Liabilities, Amounts Not Offset 1,500 1,300
Amounts not offset reflect cash collateral received on other assets $ 5,300 $ 6,300
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION - NARRATIVE (Details) - USD ($)
 3 Months Ended 8 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Jan. 28, 2025
Common Stock        
Stock Award Compensation Expense        
Remaining amount under board authorization $ 148,100,000   $ 148,100,000  
Stock repurchases 0 $ 0    
Stock offering, aggregate offering price       $ 150,000,000
Stock offering, shares Issued (in shares)     0  
Dilutive effect of average unvested RSUs        
Stock Award Compensation Expense        
Total fair value of shares vested $ 22,800,000 $ 22,500,000    
Dilutive effect of average unvested RSUs | Stock Incentive Plan, 2014        
Stock Award Compensation Expense        
Number of shares available for grant (in shares) 868,891,000   868,891,000  
Unrecognized compensation expense $ 87,000,000   $ 87,000,000  
Weighted-average remaining time period (in years) 1 year 6 months      
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION - SCHEDULE OF STATUS AND CHANGES IN RESTRICTED STOCK UNIT GRANTS (Details) - Dilutive effect of average unvested RSUs
 3 Months Ended
Sep. 30, 2025
$ / shares
shares
RSUs  
Non-vested, balance beginning (in shares) | shares 1,564,016
Granted (in shares) | shares 385,696
Vested (in shares) | shares (254,510)
Forfeited (in shares) | shares (26,093)
Non-vested, balance ending (in shares) | shares 1,669,109
Weighted-Average Grant-Date Fair Value  
Non-vested, balance beginning (in dollars per share) | $ / shares $ 55.50
Granted (in dollars per share) | $ / shares 90.47
Vested (in dollars per share) | $ / shares 47.24
Forfeited (in dollars per share) | $ / shares 57.93
Non-vested, balance ending (in dollars per share) | $ / shares $ 64.81
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION - SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Stock Award Compensation Expense    
Stockholder's equity, beginning balance $ 2,680,677 $ 2,290,596
Other comprehensive income/(loss) (284) 1,701
Stockholder's equity, ending balance 2,793,121 2,405,728
Unrealized gain (loss) on available-for-sale securities    
Stock Award Compensation Expense    
Stockholder's equity, beginning balance (780) (2,466)
Other comprehensive income/(loss) 254 1,319
Stockholder's equity, ending balance (526) (1,147)
Cash flow hedges    
Stock Award Compensation Expense    
Stockholder's equity, beginning balance 1,128 0
Other comprehensive income/(loss) (538) 382
Stockholder's equity, ending balance 590 382
Accumulated other comprehensive income    
Stock Award Compensation Expense    
Stockholder's equity, beginning balance 348 (2,466)
Other comprehensive income/(loss) (284) 1,701
Stockholder's equity, ending balance $ 64 $ (765)
v3.25.3
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION - SCHEDULE OF PRE-TAX AND AFTER-TAX CHANGES (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]    
Net unrealized gains/(losses) arising during the period, Pre-tax $ 350 $ 1,884
Reclassification adjustment for realized (gains)/losses included in net income, Pre-tax 0 0
Net change, Pre-tax 350 1,884
Net unrealized gains/(losses) arising during the period, Tax effect (96) (565)
Reclassification adjustment for realized (gains)/losses included in net income, Tax effect 0 0
Net change, Tax effect (96) (565)
Net unrealized gains/(losses) arising during the period, After-tax 254 1,319
Reclassification adjustment for realized (gains)/losses included in net income, After-tax 0 0
Net change, After-tax 254 1,319
Net unrealized gains/(losses) arising during the period, Pre-tax 374 553
Amounts reclassified from AOCI to income (1,118) 0
Total change in OCI for period (744) 553
Net unrealized gains/(losses) arising during the period, Tax effect (104) (171)
Reclassification adjustment for realized (gains)/losses included in net income, Tax effect 310 0
Net change, Tax effect 206 (171)
Net unrealized gains/(losses) arising during the period, After-tax 270 382
Reclassification adjustment for realized (gains)/losses included in net income, After-tax (808) 0
Net change, After-tax (538) 382
Total other comprehensive income/(loss), Pre-tax (394) 2,437
Total other comprehensive income/(loss), Tax effect 110 (736)
Total other comprehensive income/(loss), After tax $ (284) $ 1,701
v3.25.3
EARNINGS PER COMMON SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Common Share    
Net income $ 112,352 $ 112,340
Average common shares issued and outstanding (in shares) 56,512,587 56,934,671
Earnings per common share (in dollars per share) $ 1.99 $ 1.97
Diluted Earnings Per Common Share    
Average common shares issued and outstanding (in shares) 56,512,587 56,934,671
Average dilutive common shares outstanding (in shares) 57,782,828 58,168,468
Diluted earnings per common share (in dollars per share) $ 1.94 $ 1.93
Weighted average antidilutive common stock equivalents (excluded from the computation of EPS) (in shares) 33,122 0
Dilutive effect of average unvested RSUs    
Diluted Earnings Per Common Share    
Dilutive effect of average unvested RSUs (in shares) 1,270,241 1,233,797
v3.25.3
COMMITMENTS AND CONTINGENCIES - SCHEDULE OF OFF BALANCE SHEET COMMITMENTS (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Commitments to fund loans  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Off-balance-sheet commitments $ 5,830,963
Commitments to sell loans  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Off-balance-sheet commitments 4,785
Standby letters of credit  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Off-balance-sheet commitments 9,566
Commitments to contribute capital - Non-LIHTC  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Off-balance-sheet commitments $ 3,494
v3.25.3
COMMITMENTS AND CONTINGENCIES - NARRATIVE (Details)
$ in Millions
Sep. 30, 2025
USD ($)
lawsuit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Number of pending punitive class action lawsuits | lawsuit 3
Low Income Housing Tax Credits | Provision for credit losses - unfunded lending commitments  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Off-balance-sheet commitments | $ $ 43.6
v3.25.3
SEGMENT REPORTING AND REVENUE INFORMATION - SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (Details)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Segment Reporting [Abstract]      
Number of operating segments | segment 2    
Segment Reporting Information [Line Items]      
Net interest income $ 291,050 $ 292,048  
Provision for credit losses 17,255 14,000  
Non-interest income1 32,340 28,609  
Salaries and related costs 76,605 74,293  
Other segment items 79,641 73,172  
Total non-interest expense 156,246 147,465  
INCOME BEFORE INCOME TAXES 149,889 159,192  
Goodwill 151,540   $ 97,673
Total Assets 27,431,817   24,783,078
Operating segments | Banking Business Segment      
Segment Reporting Information [Line Items]      
Net interest income 287,200 288,492  
Provision for credit losses 17,255 14,000  
Non-interest income1 12,375 8,590  
Salaries and related costs 55,340 51,957  
Other segment items 73,153 66,358  
Total non-interest expense 128,493 118,315  
INCOME BEFORE INCOME TAXES 153,827 164,767  
Non-interest expense, cash sorting fees 9,700 10,600  
Goodwill 89,588   35,721
Total Assets 26,536,563   23,988,748
Operating segments | Securities Business Segment      
Segment Reporting Information [Line Items]      
Net interest income 8,194 7,267  
Provision for credit losses 0 0  
Non-interest income1 29,457 29,902  
Salaries and related costs 14,750 14,725  
Other segment items 14,617 13,366  
Total non-interest expense 29,367 28,091  
INCOME BEFORE INCOME TAXES 8,284 9,078  
Non-interest income, cash sorting fees 9,700 10,600  
Goodwill 59,953   59,953
Total Assets 841,882   751,820
Corporate/Eliminations      
Segment Reporting Information [Line Items]      
Net interest income (4,344) (3,711)  
Provision for credit losses 0 0  
Non-interest income1 (9,492) (9,883)  
Salaries and related costs 6,515 7,611  
Other segment items (8,129) (6,552)  
Total non-interest expense (1,614) 1,059  
INCOME BEFORE INCOME TAXES (12,222) $ (14,653)  
Goodwill 1,999   1,999
Total Assets $ 53,372   $ 42,510
v3.25.3
SEGMENT REPORTING AND REVENUE INFORMATION - SCHEDULE OF NON-INTEREST INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting [Abstract]    
Advisory fee income $ 8,525 $ 7,945
Broker-dealer clearing fees 5,814 5,072
Deposit service fees 1,168 773
Card fees 516 923
Bankruptcy trustee and fiduciary service fees 569 1,289
Non-interest income (in-scope of ASC 606) 16,592 16,002
Non-interest income (out-of-scope of ASC 606) 15,748 12,607
Total non-interest income $ 32,340 $ 28,609
v3.25.3
BORROWINGS, SUBORDINATED NOTES AND DEBENTURES (Details) - Subordinated notes - USD ($)
Oct. 01, 2025
Sep. 19, 2025
Fixed-to-Floating Rate Subordinated Notes due 2035    
Debt Instrument [Line Items]    
Sale of principle amount   $ 200,000,000
Interest rate   7.00%
Basis points spread   3.79%
Fixed-to-Floating Rate Subordinated Notes due 2030 | Subsequent Event    
Debt Instrument [Line Items]    
Interest rate 4.875%  
Debt instrument, repurchased face amount $ 160,500,000  
Percentage of principal amount redeemed 100.00%  
v3.25.3
OTHER ASSETS - SCHEDULE OF INCOME AND TAX BENEFITS (Details) - Low Income Housing Tax Credits - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Tax credits recognized $ 2,282 $ 1,420
Other tax benefits recognized 1,090 312
Amortization (2,564) (1,406)
Net benefit (expense) included in income tax expense 808 326
Other income (loss) included in banking and service fees 9 0
Net benefit (expense) included in the Consolidated Statements of Income $ 817 $ 326
v3.25.3
OTHER ASSETS - SCHEDULE OF INVESTMENTS ON BALANCE SHEET (Details) - Low Income Housing Tax Credits - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]    
LIHTC investments $ 82,311 $ 84,875
Unfunded Commitment    
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]    
LIHTC unfunded commitments $ 43,555 $ 47,381
v3.25.3
VARIABLE INTEREST ENTITIES - NARRATIVE (Details) - Sep. 30, 2025
entity
lending-relatedEntity
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Number of lending-related trust entities 3 3
v3.25.3
VARIABLE INTEREST ENTITIES - SCHEDULE OF VARIABLE INTEREST ENTITIES (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Variable Interest Entity [Line Items]    
Loans—net of allowance for credit losses $ 22,635,137 $ 21,049,610
Other assets 1,127,650 891,446
Accounts payable and other liabilities 431,015 410,155
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Restricted cash 34,836 0
Loans—net of allowance for credit losses 1,876,611 1,276,101
Other assets 158,353 0
Secured financings 753,501 0
Accounts payable and other liabilities $ 2,207 $ 0
v3.25.3
VARIABLE INTEREST ENTITIES - SCHEDULE OF SECURED FINANCING (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Variable Interest Entity [Line Items]    
Secured financings $ 782,423 $ 0
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Secured financings 736,968  
Class A, B, C, D | Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Secured financings $ 14,963  
Class A, B, C, D | Variable Interest Entity, Primary Beneficiary | Minimum    
Variable Interest Entity [Line Items]    
Interest rate 6.59%  
Class A, B, C, D | Variable Interest Entity, Primary Beneficiary | Maximum    
Variable Interest Entity [Line Items]    
Interest rate 8.67%  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Secured financings $ 129,906  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary | Minimum    
Variable Interest Entity [Line Items]    
Interest rate 6.05%  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary | Maximum    
Variable Interest Entity [Line Items]    
Interest rate 7.75%  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Secured financings $ 215,938  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary | Minimum    
Variable Interest Entity [Line Items]    
Interest rate 5.68%  
Class A-1, A-2, B, C, D | Variable Interest Entity, Primary Beneficiary | Maximum    
Variable Interest Entity [Line Items]    
Interest rate 7.23%  
Class A-1, A-2, A-3, B, C, D | Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Secured financings $ 376,161  
Class A-1, A-2, A-3, B, C, D | Variable Interest Entity, Primary Beneficiary | Minimum    
Variable Interest Entity [Line Items]    
Interest rate 4.66%  
Class A-1, A-2, A-3, B, C, D | Variable Interest Entity, Primary Beneficiary | Maximum    
Variable Interest Entity [Line Items]    
Interest rate 6.49%