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BofI Holding, Inc.

CIK:0001299709|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
INTEREST AND DIVIDEND INCOME:
Loans, including fees	$ 1,831,455	$ 1,654,784	$ 1,499,572
Securities borrowed and customer receivables	31,933	25,492	22,407
Investments and other	93,564	135,189	133,628
Total interest and dividend income	1,956,952	1,815,465	1,655,607
INTEREST EXPENSE:
Deposits	646,365	667,753	670,570
Advances from the Federal Home Loan Bank	17,586	1,652	3,087
Securities loaned	974	1,830	2,214
Other borrowings	45,117	16,458	18,307
Total interest expense	710,042	687,693	694,178
Net interest income	1,246,910	1,127,772	961,429
Provision for credit losses	101,105	55,745	32,500
Net interest income, after provision for credit losses	1,145,805	1,072,027	928,929
NON-INTEREST INCOME:
Broker-dealer fee income	45,273	45,233	48,136
Advisory fee income	35,978	31,794	31,335
Banking and service fees	139,825	38,195	35,723
Mortgage banking and servicing rights income	6,108	13,007	10,000
Prepayment penalty fee income	6,399	2,837	5,069
Gain on acquisition	0	0	92,397
Total non-interest income	233,583	131,066	222,660
NON-INTEREST EXPENSE:
Salaries and related costs	323,046	297,955	250,873
Data and operational processing	91,885	80,433	69,370
Depreciation and amortization	80,623	29,019	27,086
Advertising and promotional	49,134	47,760	42,797
Professional services	42,806	37,572	36,532
Occupancy and equipment	22,391	17,705	16,704
FDIC and regulatory fees	27,693	27,558	20,546
Broker-dealer clearing charges	17,729	17,065	18,260
General and administrative expense	77,411	34,631	33,940
Total non-interest expense	732,718	589,698	516,108
INCOME BEFORE INCOME TAXES	646,670	613,395	635,481
INCOME TAXES	156,298	180,487	185,473
NET INCOME	$ 490,372	$ 432,908	$ 450,008
Basic earnings per common share (in dollars per share)	$ 8.66	$ 7.61	$ 7.82
Diluted earnings per common share (in dollars per share)	$ 8.48	$ 7.43	$ 7.66

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 490,372	$ 432,908	$ 450,008
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	80,623	29,019	27,086
Other accretion and amortization	(90,878)	(108,076)	(58,275)
Stock-based compensation expense	44,255	41,971	35,194
Trading activity	(12)	(296)	405
Provision for credit losses	101,105	55,745	32,500
Deferred income taxes	93,209	(27,956)	33,134
Origination of loans held for sale	(240,355)	(199,845)	(197,305)
Unrealized and realized gains on loans held for sale and held for investment at fair value	(5,206)	(9,596)	(8,639)
Proceeds from sale of loans held for sale	223,115	195,202	209,503
Change in the fair value of servicing rights	3,116	2,605	(2,326)
Gain on FDIC Loan Purchase	0	0	(92,397)
Gain on repurchase of subordinated notes	0	(729)	(973)
Net change in assets and liabilities which provide (use) cash:
Securities borrowed	(24,066)	(72,184)	67,127
Customer, broker-dealer and clearing receivables	(95,224)	(12,692)	134,046
Other assets	(203,988)	18,506	(114,040)
Securities loaned	55,303	65,249	(85,655)
Customer, broker-dealer and clearing payables	15,186	49,479	(144,350)
Accounts payable and other liabilities	111,042	31,021	20,434
Net cash provided by (used in) operating activities	557,597	490,331	305,477
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	(768,755)	(22,382)	(9,612)
Proceeds from sale and repayment of available-for-sale securities	17,291	100,316	106,249
Purchase of stock of regulatory agencies	(111,797)	(12,449)	0
Proceeds from redemption of stock of regulatory agencies	111,715	0	0
Net change in loans held for investment at amortized cost and at fair value	(3,711,249)	(2,175,449)	(2,683,460)
Proceeds from sale of loans originally classified as held for investment	180,514	440,115	39,159
Proceeds from sale of other real estate owned and repossessed assets	6,631	2,210	4,757
Purchase of BOLI policies	0	(100,000)	0
Acquisition of business, net of cash acquired	(474,448)	0	0
Purchases of premises, furniture, equipment, software and intangibles	(266,449)	(54,213)	(35,961)
Purchases of other investments	(19,398)	(19,296)	(12,401)
Distributions received from other investments	75	81	1,989
Net cash provided by (used in) investing activities	(5,035,870)	(1,841,067)	(2,589,280)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	3,735,849	1,470,326	2,236,109
Repayments of the Federal Home Loan Bank term advances	0	(30,000)	0
Net (repayment) proceeds of Federal Home Loan Bank other advances	94,000	0	0
Net (repayment) proceeds of other borrowings	0	0	(27,200)
Redemption of subordinated notes	(160,500)	0	0
Payments related to settlement of restricted stock units	(30,246)	(27,640)	(16,192)
Purchase of treasury stock	(21,980)	(58,203)	(96,286)
Repayment of secured financings	(197,141)	0	0
Repurchase of subordinated notes	0	(13,169)	(8,938)
Payment of debt issuance costs	(2,861)	0	0
Proceeds from issuance of subordinated notes	200,000	0	0
Repayment of subordinated loans	(7,400)	0	0
Net cash provided by (used in) financing activities	3,609,721	1,341,314	2,087,493
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(868,552)	(9,422)	(196,310)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year	2,176,354	2,185,776	2,382,086
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of year	1,307,802	2,176,354	2,185,776
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on interest-bearing liabilities	705,171	687,244	698,956
Transfers to other real estate and repossessed vehicles from loans held for investment	3,848	8,778	4,472
Transfers from loans held for investment to loans held for sale	178,610	432,835	39,159
Transfers from loans held for sale to loans held for investment	7,093	12,530	2,783
Operating lease liabilities from obtaining right of use assets	8,525	4,491	6,330
Non-cash LIHTC investments	25,000	25,060	37,495
Non-cash Contingent Consideration	$ 30,810	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
ASSETS
Cash and cash equivalents	$ 1,108,633	$ 1,933,845
Restricted cash	199,169	242,509
Total cash, cash equivalents and restricted cash	1,307,802	2,176,354
Trading securities	661	649
Available-for-sale securities	803,667	66,008
Stock of regulatory agencies	36,166	35,163
Loans held for sale, carried at fair value	14,937	10,012
Loans held for sale, lower of cost or fair value	5,129	0
Loans—net of allowance for credit losses of $347,375 as of June 30, 2026 and $290,049 as of June 30, 2025	25,595,403	21,049,610
Servicing rights, carried at fair value	25,653	27,218
Securities borrowed	163,462	139,396
Customer, broker-dealer and clearing receivables	347,944	252,720
Goodwill and other intangible assets—net	249,317	134,502
Other assets	1,411,728	891,446
TOTAL ASSETS	29,961,869	24,783,078
Deposits:
Non-interest-bearing	3,828,800	3,040,696
Interest-bearing	20,736,592	17,788,847
Total deposits	24,565,392	20,829,543
Advances from the Federal Home Loan Bank	154,000	60,000
Secured financings	576,680	0
Borrowings, subordinated notes and debentures	342,915	312,671
Securities loaned	194,729	139,426
Customer, broker-dealer and clearing payables	365,792	350,606
Accounts payable and other liabilities	595,943	410,155
Total liabilities	26,795,451	22,102,401
COMMITMENTS AND CONTINGENCIES (Note 19)
STOCKHOLDERS’ EQUITY:
Common stock—$0.01 par value; $150,000,000 shares authorized, $71,939,630 shares issued and $56,734,049 shares outstanding as of June 30, 2026; $71,101,642 shares issued and $56,483,617 shares outstanding as of June 30, 2025	719	711
Additional paid-in capital	592,916	548,895
Accumulated other comprehensive income (loss)—net of income tax	3,914	348
Retained earnings	3,108,897	2,618,525
Treasury stock, at cost; $15,205,581 shares as of June 30, 2026 and $14,618,025 shares as of June 30, 2025	(540,028)	(487,802)
Total stockholders’ equity	3,166,418	2,680,677
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 29,961,869	$ 24,783,078