AcquisitionsMay 4, 2026, 08:37 AM
Axos Bank Completes Acquisition of $2.3B Jenius Bank Deposits
AI Summary
Axos Bank, a subsidiary of Axos Financial, Inc., has completed its previously announced acquisition of all United States consumer deposits from Jenius Bank, a digital banking business of SMBC MANUBANK. The transaction, finalized on May 2, 2026, involved Axos Bank acquiring approximately $2.3 billion in deposits. As part of the agreement, Axos Bank received cash, less a negotiated premium.
Key Highlights
- Axos Bank completed the acquisition of Jenius Bank's US consumer deposits on May 2, 2026.
- Acquired approximately $2.3 billion in deposits from Jenius Bank.
- Received cash, less a negotiated premium, as part of the transaction.
- The acquisition was previously announced via a Purchase and Assumption Agreement dated February 12, 2026.
- Jenius Bank is a digital banking business of SMBC MANUBANK.