Axos Closes Purchase of Two Loan Portfolios from the FDIC
Axos Acquired Two Loan Portfolios Having an Aggregate Unpaid Principal Balance of $1.25 Billion and Reflecting a Discount to Par Value of Approximately 37%
Axos Financial, Inc. (NYSE:AX) ("Axos" or the "Company") announces that its wholly-owned subsidiary Axos Bank has completed the acquisition of two performing commercial real estate ("CRE") loan portfolios, including multi-family loans among others, from the Federal Deposit Insurance Corporation ("FDIC") at a purchase price equal to approximately 63% of par value, resulting in an approximate discount to par value for the purchased loans of $463.7 million. Axos Bank paid cash for the acquired loans.
The acquired loans, subject to final
