AX · Axos Financial, Inc.

Summary

On February 12, 2026, Axos Bank, a subsidiary of Axos Financial, Inc., entered into a purchase and assumption agreement with SMBC MANUBANK to acquire approximately $2.6 billion in U.S. consumer deposits from Jenius Bank. The transaction is subject to regulatory approval and is expected to close in late March or April 2026.

Key takeaways

• Axos Bank entered into a definitive agreement to acquire all U.S. consumer deposits of Jenius Bank from SMBC MANUBANK.
• The estimated amount of deposits to be acquired is approximately $2.6 billion at closing.
• Axos Bank will receive cash for the deposit balances acquired, less a negotiated premium.
• The transaction is subject to approval by the Office of the Comptroller of the Currency.
• The acquisition is expected to close in late March 2026 or April 2026.