SAN DIEGO--(BUSINESS WIRE)--Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX), was named to Forbes “America’s Best Banks” list for 2020. Forbes ranked Axos Bank thirty-first among this year’s “America’s Best Banks.”
Forbes evaluated the largest 100 publicly traded banks and thrifts by assets. S&P Global Market Intelligence provided data regarding growth, credit quality and profitability metrics, including return on average tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans. Forbes also considered nonperforming assets as a percentage of assets, Common Equity Tier 1 ratio, risk-based capital ratio, reserves as a percentage of nonperforming assets and operating revenue growth.
“We are honored to be included among Forbes’ Best Banks of America two consecutive years,” stated Greg Garrabrants, President and CEO of Axos Financial, Inc. “The achievement is a testament to our consistently high levels of profitability, credit quality, growth and returns.”
The recognition by Forbes is the latest in a series of awards and honors for Axos. Earlier in January, personal finance website NerdWallet named Axos Bank’s Basic Business Checking and Rewards Checking accounts, respectively, as the Best Free Business Checking Account and Best Checking Account for High Interest. In December, MyBankTracker.com named Axos Bank’s Rewards Checking as one of the best checking accounts in its Best of Banking 2020 Awards. Also in December, GOBankingRates chose Axos Bank as a winner in the Best Money Market Accounts and Best Online Banks categories for its Best Banks of 2020 awards.
About Axos Bank and Axos Financial, Inc.
Axos Financial, Inc. is the holding company for Axos Bank, a nationwide bank that provides consumer and business banking products through its low-cost distribution channels and affinity partners. With approximately $12.3 billion in assets, Axos Bank provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. Axos Financial’s wholly-owned non-bank subsidiaries, Axos Clearing LLC and Axos Invest, Inc. (formerly WiseBanyan, 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 and the S&P SmallCap 600® Index. For more information about Axos Bank, please visit axosbank.com.
