AcquisitionsApr 23, 2026, 08:37 AM
Axos Bank to Acquire $3.2B in IRAs from Capital One
AI Summary
Axos Bank, a subsidiary of Axos Financial, Inc., has entered into a purchase and assumption agreement with Capital One to acquire individual retirement accounts totaling approximately $3.2 billion. These IRAs are deposited into associated savings and certificate of deposit accounts. The acquisition, which includes certain related assets and liabilities, is subject to regulatory approval by the Office of the Comptroller of the Currency. The transaction is expected to close later in calendar year 2026.
Key Highlights
- Axos Bank to acquire $3.2 billion in individual retirement accounts.
- Agreement made with Capital One, National Association.
- IRAs are deposited into savings and certificate of deposit accounts.
- Acquisition includes certain related assets and liabilities.
- Transaction is subject to OCC approval and expected to close in late 2026.