HIGHBuilt-inRegulatory
OCC primary regulator
“10-K Item 1: 'subject to regulation, examination, and supervision by the OCC as its primary regulator and the FDIC as its deposit insurer'”
AX · Concentration risk · 10-K extracted
Axos Financial (AX) concentration risks
Updated
The most significant concentration Axos Financial discloses is OCC primary regulator, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Axos Financial’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
California and New York real estate loans
“10-K Item 1A: 'given our high concentration of loans secured by real estate in California and New York, the Company remains particularly susceptible to a downturn in those states' economies'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is anchored by two structural exposures with no single customer or counterparty dependency disclosed. The primary exposure is regulatory: the bank subsidiary operates under the OCC as its primary regulator and the FDIC as deposit insurer, a high-share structural constraint that governs capital requirements, examination protocols, permissible activities, and enforcement authority. Changes in regulatory posture, capital guidance, or supervisory emphasis by the OCC carry direct and material implications for the company's operating flexibility. The second disclosed exposure is geographic. The loan portfolio carries a concentration of loans secured by real estate in California and New York, a medium-share structural tilt by disclosed size. The filing notes that the company remains particularly susceptible to an economic downturn in those states — meaning regional recessions, property value corrections, or localized credit stress would have a disproportionate effect relative to a geographically diversified peer. This exposure is structural because it reflects where the company has chosen to originate and book its real estate assets, not a dependence on any individual borrower. The two exposures are largely independent in their risk drivers: OCC regulatory risk is federal and uniform, while the California and New York real estate concentration is regional and cyclical. Together they define a profile where the main risks are macro and regulatory rather than counterparty-specific — a pattern that tends to move slowly and with reasonable advance warning, rather than abruptly.
For the engine’s reasoning on AX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Banks - Regional
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASB | Associated Banc-Corp | 2 | 3 | 0 | 5 |
| BANC | Banc of California, Inc. | 2 | 0 | 0 | 2 |
| AX● | Axos Financial, Inc. | 1 | 1 | 0 | 2 |
| AUB | Atlantic Union Bankshares Corpo | 0 | 3 | 0 | 3 |
| BANR | Banner Corporation | 0 | 2 | 0 | 2 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.