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Axos Bank Named to the 2024 Forbes America’s Best Banks
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Axos Bank, a subsidiary of Axos Financial, Inc. (NYSE: AX), has been named to the 2024 Forbes America’s Best Banks list. Forbes evaluated the top 100 out of 200 largest publicly-traded banks and thrifts based on 10 financial metrics, including stock performance, for the 2023 calendar year. Axos Financial's President and CEO, Greg Garrabrants, expressed pride in the recognition, highlighting the bank's consistent growth and financial strength.
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SAN DIEGO--(BUSINESS WIRE)--
Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX), was named to the 2024 Forbes America’s Best Banks list. Forbes considered the 200 largest publicly-traded banks and thrifts by assets and ranked the top 100.
The 15th annual Forbes America’s Best Banks list evaluated and ranked 100 institutions based on 10 metrics that measure growth, credit quality, and profitability for the 2023 calendar year. It also considered stock performance in the 12 months leading up to March 18, 2024. The 10 financial metrics, each given equal weight, included net interest margin, return on average tangible common equity, return on average assets, CET1 ratio, efficiency ratio, nonperforming assets as a percentage of total assets, reserves as a percentage of total assets, risk-based capital ratio, operating revenue growth, and net charge-offs as a percentage of total loans.
“We are thrilled to have been recognized by Forbes once again as one of America's top banks," said Greg Garrabrants, President and CEO of Axos Financial, Inc. "This accomplishment is particularly rewarding as it demonstrates our ability to maintain consistent, profitable growth in the face of a challenging year for the industry. It solidifies our position as a best-in-class institution among the largest banks, highlighting our financial strength and resilience.”
Axos Financial, Inc., with approximately $21.6 billion in consolidated assets as of December 31, 2023, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $34.4 billion of assets under custody and/or administration as of December 31, 2023, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.’s common stock is listed on the NYSE under the symbol “AX,” and is a component of the Russell 2000® Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial Technology Index, and the Travillian Tech-Forward Bank Index. For more information regarding Axos Bank, please visit http://www.axosbank.com.
