Axos Bank closes about $1.9 billion Capital One IRA deposit purchase

Axos Financial, Inc. (NYSE: AX) reported that on September 21, 2026 its Axos Bank subsidiary completed the previously announced acquisition of individual retirement accounts deposited into associated savings and certificate of deposit accounts from Capital One, National Association. The bank acquired approximately $1.9 billion of IRA deposits and received cash for the aggregate deposit balance, less a negotiated premium.

Axos Bank closed a previously announced deposit purchase that moves about $1.9 billion of IRA balances onto its balance sheet from Capital One.

Deal close and deposit size

On September 21, 2026, Axos Bank, a subsidiary of Axos Financial, Inc., completed the acquisition of individual retirement accounts deposited into associated savings and certificate of deposit accounts from Capital One, National Association. The bank acquired approximately $1.9 billion of IRA deposits and received cash for the aggregate deposit balance, less a negotiated premium.

Agreement path

The closing follows the Purchase and Assumption Agreement dated April 22, 2026. Axos incorporated that agreement by reference to Exhibit 99.1 on its Form 8-K filed April 23, 2026, rather than re-filing the full text with this completion notice.

What this 8-K settles — and what it leaves open

Item 2.01 confirms completion and the approximate deposit principal transferred. It does not restate the premium amount, break out savings versus certificate balances, or quantify expected net interest margin or funding-cost effects from the acquired IRA book.