Short answer
Axos Financial, Inc. (AX) filed an 8-K current report with the SEC on April 23, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item EX-99.1 (Exhibit EX-99.1). Axos Bank agreed to acquire approximately $3.2 billion of Capital One IRA deposits.
Axos Financial, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Axos Bank agreed to acquire approximately $3.2 billion of Capital One IRA deposits
- Deposits held in savings and certificates of deposit, with related assets and liabilities
- Axos will receive cash net of a negotiated premium, creating a deposit-growth cost
- OCC approval required; closing expected later in calendar year 2026
- Transaction could materially expand Axos funding but adds execution and retention risk at closing
Item EX-99.1 · Exhibit EX-99.1
- Axos will acquire and assume Capital One’s traditional and Roth IRA custody business, expanding its retirement-account platform
- Transaction includes transferred IRA deposits, account agreements, and post-closing servicing obligations
- Purchase price equals transferred deposits minus a redacted deposit premium, creating potential funding and net-interest-income benefits
- Capital One retains pre-closing liabilities, excluded accounts, and related taxes, limiting Axos’s assumed legacy exposure
- Closing requires OCC approval and occurs on the tenth business day after conditions are satisfied, making regulatory clearance the key timing risk
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