for for interest million the of June per year diluted Good year ended fiscal XX.X% Bank. XXXX. XX, I'd earnings everyone year on XXXX. over fiscal Axos’ XX.XX%. fourth XXXX. us. of Financial for return June the diluted was call ended fiscal XXXX afternoon thank Axos’ like and thank the ratio compared the quarter the you increased June everyone to your Thank for you Financials average $X.XX fiscal in you. net welcome $XXX.X Axos’ Fiscal to share record per XX, conference banks of XXXX million Johnny. earned fiscal and XX, was year income Axos in to XX.X% for $XXX.X to XXXX year announced ended XX.XX% joining Axos and the $X.XX per share efficiency XXXX share in equity I
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quarter Our in June lender performance. book were up from commercial with single-family, Ending multifamily in at loans share and margins, quarter XX.X% real of annualized up the up C&I portfolios. leverage excellent $XXX.X estate, and the XXXX, an year. from and double-digit XX, specialty non-real and positive credit certain and stable approximately value operating loan this estate higher was and following. quarter finance originations jumbo deposit higher year-over-year. income leases interest production highlights and in million, mortgage XXXX increased Strong by XX.X% by include XX% warehouse net per lower in first offset payoffs prior growth interest growth, income, The strong non-interest of had the XX.XX% We net
loans. XXXX in quarter XXXX up excluding points the XXXX from and related March basis PPP by ending XX the from up basis of ended Excluding Net quarter margin points for and interest year-over-year. X.XX% loans leases fourth was XX, XX.X% XX, increased loan X.XX% June HRB X Block fiscal
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compared mortgage year year-over-year period. ago for strong of XXXX. XX.X% with Total loan loan to emphasis on balance serve the asset-based was the investment year-over-year in $X.XX June originations were XXXX $X.XX XX, our production on sheet QX an on sale values keeping continues banking ended low to billion fourth for with underwriting up to Originations for conservative sale originations due well. loans and Our us quarter were billion gain down in XX.X% to
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in the prior for business of unit quarter banking and margin ex-H&R interest to net X.XX% the in XXXX. compared quarter quarter fourth was X.XX% the Our X.XX% the in Block fourth
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yields, represents and slowdown prepayment our small balance of at we loan which commercial the mortgage With portfolio, activity in estate, expect in our in to yields residential and overall maintain estate mortgage loan majority real multifamily real new loan another our balances jumbo book. of stability The X% X/XX/XXXX.
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leases. outstanding the rate of C&I and is accounts comprised portfolio, which $XXX leasing equipment million of fixed loans remaining loans for Our
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loans. and period average Our was offs refund Advance basis Emerald to this compared loans quarter charge-offs and to year, last XX leases advance corresponding to net XX charge the annualized points points in related excluding basis
with ratio loan and X to low the supply of to charge-offs leases majority year The basis representing non-performing prime XX the loans allowance the of XX.X% loans for leases non-performing non-performing total third fourth of June multifamily are average XX, net XXXX. to single-family basis were points and XXXX our was Non-performing for X points ended XXXX. basis assets of March XX, XX to quarter quarter the low basis our quarter and assets for and loans Our points full at $XX.X for loss approximately points comprised well asset in single-family We XXXX. is and located ended value XX% in non-performing for XX%. coverage loan a demand to values. loans markets June The our housing had loan high. single-family remain below reserved our where our loans is majority at XX, Of are or mortgage of vast million properties compared with
delinquent became they proactive measures COVID-related whether or taken loans are that manage have not. We to
commercial Axos been XX, million Of greater and only of of million, kind. of accrued provided As have business at leasing months were on payment commercial, loans balance loans with in plus commercial provided no XX June $X.X days since of its finance small of three loan delinquent. or CRESL, payments. loans, of estate commercial our have balance come those lender Including X XX any small balance At we $X.X for XX, either that equipment points one and XX, June loans all XXXX multifamily that current finance basis a XXXX, XXXX. than XX June interest par combined except unit multifamily deferrals was obligations sold real had
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our and have of consistent losses collateralized underwriting lines senior maintaining of record structures multiple conservative and low given track through book. nature loan a the We in loans guidelines, economic our commercial cycles credit our
for less than the for financial great was basis net point we peak single-family loans. our multifamily X crisis, mortgages loans and for charge-offs annual During originated
cycle. of and uncertain, of is or at this While at of economic of through portfolio our duration XX, end this XX% representing loan-to-value single-family have $XXX have loan underwriting were our will outstanding $X.X XX% Approximately total between approximately the X us points and proactive ratio have June an and loans XXs X% believe loans an consumer receivables. XXXX or risk with XX% depth a balances we XX%. of XX%, our X.X of average ratios downturn XX%, loan ratios mortgages, XX%. our management of in estate disciplined help by to by billion hard the loan-to-value assets mortgages had XX% LTV below and between secured At XX, assets, average than real of primarily including XX%, have million basis collateralized manage weighted and of loan-to-value greater combined quarter, value XXXX ratios June XX% and the million loan-to-value Single-family XX%
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outstanding on advantage was XX%. the among million million We balances to scaling $XX back and competitors balances of XX, average XXXX. Our loan mortgage value $XX warehouse the business our warehouse four exposure by to clients non-agency or took March or approximately exiting weighted and compared distributed XX% loan to grew approximately
economic below representing average at loan X/XX/XXXX total lifetime multifamily downturn. in XX%. X loans Multifamily have value. portfolio XX% losses our of loan-to-value and the Our across loan-to-value ratios our have believe the losses XXXX years than multifamily have constraints. any due XX% or on the secured was credit margins originated clients At multifamily X/XX/XXXX. than in XX% industry activity cover real loans capacity the X% ratios are originated will XX% of XX that to loan-to-value loans portfolio debt service basis than loans. end book of elevated had sharp quarter, our The multifamily in XX% weighted manageable estate and from level our loan potential XX%, less be X.XX% benefiting of of originated we June XX%, point over a the value loan loan less of are XX, average to the The between XX% greater and of ratios between XX% have higher warehouse mortgages even refinancing our XX% We to at and housing at
book. the loan stated, deferrals we no granted in As multifamily
balance XX, or small representing end XX% between loans of loan small was weighted XX% estate total our real resort and XX%, weighted portfolio Our book. and book XX and the estate real loan million quarter, commercial deferrals a our value at XX% commercial The service balance loans resorts at the approximately loan commercial real and portfolio XX% of of granted of have loan-to-value $XXX in the small to XX% including average approximately XX% and XX% less XX%. portfolio, X% at have the have had ratios between In commercial X/XX/XXXX are X% balance to of loan-to-value loan-to-value X.XX% June deals. representing XX% debt XXXX at total our loans outstanding. ratios had XX%, ratios small balance for below X% estate between and hotels XX% between X% and The are million our real XX% we this We of XX%. balance commercial of loans of no our to small cover hotel average than XX%, value loan average estate is X/XX/XXXX. of
consumer decline. the structures rate advance consumer secured finance significant is credit also no commercial book rapidly average The require average advance estate, real loan lines event loans lender estate the in and than originations The event finance book the finance is and $XXX XX.X% receivables downs an transactions. is lender pay receivables. the primarily land of approximately in of real book the non-real These transaction backed weighted on estate, XX.X% including comprised estate by loans with finance balance. in any and by commercial non-real are estate, of of rate and Our rate commercial advance receivables book multifamily, million specialty of paid deterioration collateral XX%. with greater rapid comprised real The lender estate with lender single-family, of generally down real and
located to to gateway finance loan are in strong term average identify CRESL size We every capital Angeles, take partner loans sponsors us interest. cost the The projects of Blackstone. portfolio and real We action with capital average specialty such and commercial all sponsors. our We related credit has borrowers monitor and million. York, weighted $XX have average capitalized developers our the estate and no XX.X estate the Los support loan vehicle and and such months finance experienced bridge underlying was deterioration bankruptcy loan significant in of Denver. purpose commercial construction junior average remaining lender and our lender is remote special and work and to and protect the well deal to The group book. specialty New In structure. we commercial XX% from and performance real allowing collateral, as, The hold senior positions our in principal The deferrals granted cost with supporting portfolios, approximately the as Diego swift XX%. cities, is San loan loan is our housing
no have loan CRESL We book. in granted the deferrals
oil retailers airlines, We theme have gas exploration to companies, and no movie direct parks, exposure casinos, theaters. and
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AB and our retail we our outstanding million XX, of of loans. for commercial hold loan We $XXX had mixed real XXXX no discretion of the approximately a hotel commercial senior of warehouse specialty, LTV exposure and total estate absolute or and granted and our majority and and the deferrals draws at our average have position. not current borrowers specialty all retail one loans portfolio, of hotel hotel estate, deny hotel are and of our real where use XX% their it hotel We at June were on estate $XXX finance representing loans X.X% million lender payments, lines. loans our notes X.X% on sole mortgage respectively. approve The approximately Only real was to
borrowers million Block million $XX from source of of of consumer estate, loans, located $XXX We $XX.X advance loans. refund of lending H&R our approximately non-real auto Our million loans, and loans is personal in prime auto unsecured dealers XX XXX. comprised primarily our lend and the service average every of balance sheet hold portfolio we states to fully in line and with and We continues to perform an on expectations. FICO with auto underwrite loan
risk the of our by an loan $XX,XXX. size have loan We with unsecured of on average average book of managed prime score and borrowers FICO credit an XXX focusing personal
the and personal loans originations of fourth We in of more new very deterioration unemployment conservative advance quarter as underwriting and XXXX. in high of charged-off small million balance recently the we total the bucket unsecured the loans standards. Given origination temporarily even $XX.X and rapid economy suspended XX, X% refund and and originations an a outstanding nationwide, reopened June approximately had
we in year dealers the growth loan margin extended million the to from timeframe more $X.X Despite XX, million the fourth years. In filing million $X.X period to the stock this the was quarter Approximately in business ended million March, $X.X million $XX advance delays loan the XX, extension bullish Given introducing attributable with the some quarter prior for $X.X loans, we incurred margin quarter. XXXX, the loss since $XXX clients repayment federal business, a losses compared with as securities was $X.X of losses. no economy. XX-day loan more deterioration at was March elevated million we've up million the to same with the loans managed market Provisions became deadline, ago. broker provision in in approximately June our year ended successfully processing of our in refund quarter to up XXXX the IRS-related and June volatility price attributable in the for are comparison in experiencing tax
approximately $XX For our XX loan million. allowance total loss XXXX $XX.X basis our XX, months required is immediate increased CECL increase points CECL estimated X, XX and Advance our methodology the XXXX, July ended adjustment for XX, timeframe, we $XX.X day – of allowance ended the leases to our of in refund be June are on XXXX. under The we and loss current the approximate fiscal and generally as loan adoption for loss of between known current losses ex-Block by an adopting represents June million. expected original XX, used credit million losses charge-offs CECL adopted of ends that Emerald The on means The one loans year to we otherwise reserves considering be million quarter loan or $XX net loans impact XX.X June method. will The times loan year-end. the of losses incurred one-year XXXX. the at annualized bank's for June the now in related XX, date only Because
the in changes The election adjustment GAAP. potential day be government and currently estate valuation COVID-XX impact with we modest resulting of the to resurgence changes and and impact reflect recorded foreclosures against variety equity commercial accordance $XX.X estate moratoriums uncertainty including to that reserves cases of retained an improving possible additional shutdowns, severe have a long-term extensive uncertainty governmental fictions see policy is to residential and a and real models in COVID-XX, including one are after-tax and million events a of certain an additional and impact may of in While of business directly is year to more of from expected CECL values. due million the stockholders economy long-term between real Canada $XX.X
reduce provide over phase purposes, years. of adjustment to the of on models defer the capital Andy phasing regulatory not and this CECL will loss one-third five capital. impact impact we this details Under then the day last five-year of our ratios and two additional the the our to for regulatory impact three phasing we’ll and and elected years For – first X the Tier one on years election. capital over
strong return XX.XX% on We months continue returns the XX, June months in shareholder XX to of respectively. with XX.XX% ended equity and generate average and three common XXXX
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returns that Our deposit could and our funding reduce our increase top funding while selectively businesses capital income asset growth evaluating in our businesses of enhance priority is capabilities, existing our or fee for cost.
loan approximately remains of XX, with pipeline Our our in June XXXX. at $X.X billion consolidated solid loans pipeline
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be to continue Securities on Axos bullish value organization. We strategic to long-term our
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financial who our I'll results. call the details Andy to provide additional Now on turn over will
