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'”
AX · Concentration risk · 10-K extracted
Axos Financial (AX) concentration risks
Updated
The most significant concentration Axos Financial discloses is California and New York real estate loans, classified MEDIUM 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.
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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 · 1 disclosed concentration
HIGH0
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).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Axos Financial's one disclosed concentration is geographic and tied to collateral. The filing refers to a concentration of loans secured by real estate in California and New York. The sources give no percentage, so the size cannot be stated beyond the medium-share band assigned to it, and no portfolio share should be inferred. The character is structural. It reflects the lending footprint and collateral mix of the bank rather than a dependence on one borrower or counterparty. The practical consequence is that credit quality tracks real estate values and economic conditions in two states. A regional downturn in property prices, local regulatory changes, or a natural disaster affecting those markets could raise losses across a meaningful part of the loan book at the same time, instead of being spread across independent geographies. With no single-borrower or funding dependency flagged in the sources, there is no idiosyncratic item to net against this exposure. It is a slow-moving, correlated-risk feature of the loan portfolio that bears on provisioning and capital planning, and it is plainly disclosed in the 10-K.
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 |
|---|---|---|---|---|---|
| AMAL | Amalgamated Financial Corp. | 2 | 1 | 0 | 3 |
| ACNB | ACNB Corporation | 1 | 1 | 0 | 2 |
| ALRS | Alerus Financial Corporation | 1 | 1 | 0 | 2 |
| AMTB | Amerant Bancorp Inc. | 0 | 1 | 1 | 2 |
| AX● | Axos Financial, Inc. | 0 | 1 | 0 | 1 |
| 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.