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The Front Office

Scouting report · AX

Derrick K. Walsh

  • Executive Vice President & Chief Financial Officer, AX since 2021-09src

Axos CFO since September 2021, promoted from Chief Accounting Officer

—thin record

Not ranked yet

Scouting sheet

as of 24 Sep 2026
Delivers guidance—2 beat · 0 met · 1 missed · 0 withdrawn — fewer than 4, not scored
Answers the question762 dodges in 11 answers on 2 calls
Capital allocation100company five-year record: compounds
Pay design27individual, time only · 58.7% for · 0.32% of net income
Skin in the game62stake worth $4.3m, 3× last year's pay
Age
43src
In the role
5 yr
Promises scored
3
Hit rate
67%
Dodges / 100 answers
18.2
Airtime on calls
19%
Every promise, oldest firstBBX

What to weigh

Watch 4

  • His pay has no formula. The committee sets the CFO's bonus on the CEO's recommendation, with no set weightings; other NEO bonuses are generally targeted at 200-300% of salary in cash and stocksrc
  • Asked about Verdant's fee-income run rate on two calls in a row (Jan and Apr 2026), he gave no figure. That is the line that makes FY2026 non-interest income hard to repeat (dossier dodge log)src
  • Sold 4,846 shares in the open market on 2026-02-06 at about $101.21 (~$0.49m), not marked as a 10b5-1 tradesrc
  • The CFO also signed off in writing on the Capital One deposit purchase. It was announced at about $3.2bn and closed at about $1.9bn in September 2026, with no filing explaining the differencesrc

In their favour 1

  • His spoken FY2026 guides (tax rate, organic loan growth) were both beaten in the dossier's S8src

Career

  1. 2021 – now
    Axos Financial, Inc. and Axos Banksrc
    EVP & Chief Financial Officer
    Also principal accounting officer until 2024-09-24 (8K-2024-09-26)
  2. 2015 – 2021
    Axos Financial (BofI Holding until 2018)src
    SVP & Chief Accounting Officer
  3. 2013 – 2015
    BofI Holding / BofI Federal Banksrc
    Joined 2013 (title before 2015 not stated)
    His employment letter is dated 2013-06-24
  4. 2011 – 2013
    LPL Financialsrc
    Led SEC & regulatory reporting; also management reporting and investor relations
    Held Series 7, 27 and 66 licenses there (7 and 66 now inactive)

Undated in the sources

  • Public accounting (firm not named)src, Auditor of financial institutions and public companies; became a CPA

Not located: Ten-year window (2016-2026) is covered by the 2021 8-K and the proxy. His title at Axos in 2013-2015, and the name and dates of the public-accounting firm before 2011, are not given in any source read

Achievements

  • Rose inside Axos: joined in 2013, Chief Accounting Officer from 2015, CFO from September 2021src
  • His FY2026 tax-rate guide (about 26-27%) came in at 24.17%, and his organic loan-growth guide was beaten (S8 rows 1-2)src
  • Signs the company's 8-Ks and was named attorney-in-fact on the FY2026 10-K, alongside the CEOsrc
  • Licensed CPA; held Series 7, 27 and 66 licenses from LPL (7 and 66 now inactive)src

Education

  • University of Richmond, Robins School of Business, BS/BA (degree not stated) Double major in accounting and business administration (finance concentration)src

Background

  • Family No family relationship with any director or executive officer, per the 2021 appointment 8-K and the 2025 proxysrc
  • Other Borrows through the bank's employee home-loan program, which all staff can use: $849.7k outstanding at 2025-06-30 at 0.41% (the AFR when the loan was made in August 2020)src
  • Other Has a Change of Control Severance Agreement (2021-09-23) that auto-renews each year after 2024-12-31. His 2013 employment letter set a bonus target of 250% of salary, paid semi-annually in cash and RSUssrc

The promise ledger

3 scored · 0 open
ResultWhat was promisedWhere it is scoredHow
B BeatFY2026 (from the quarter ending 2025-09-30) · effective corporate tax rate ≈26–27%, down from 29–30%AX row 1said it
B Beatnext 12 months from 2025-07-31 · organic loan growth at "the midpoint to high end of our high single digits to low teens" range, excluding the FDIC portfolio and any acquisitionsAX row 2said it
X MissedCapital One IRA deposits — "approximately $3.2 billion", expected to close in calendar 2026AX row 5written outlook

Questions dodged

18.2 per 100 answers

  1. Sizing Verdant's fee income — asked in two consecutive quarters, no number either time. Q2 (2026-01-29): Gary Tenner (D.A. Davidson) asked for "a follow-up on the Verdant impact on the fees and expenses" [33]; Walsh answered with the "$200 million a little over $200 that we classified as operating leases last quarter" [34] — a balance, not a run rate. Q3 (2026-04-30): Kelly Motta asked how to think about opera…

    from AX · dossier-2026-09-24.md

  2. Sizing Verdant's fee income — asked in two consecutive quarters, no number either time. Q2 (2026-01-29): Gary Tenner (D.A. Davidson) asked for "a follow-up on the Verdant impact on the fees and expenses" [33]; Walsh answered with the "$200 million a little over $200 that we classified as operating leases last quarter" [34] — a balance, not a run rate. Q3 (2026-04-30): Kelly Motta asked how to think about opera…

    from AX · dossier-2026-09-24.md

Calls reviewed

  • FY2026-Q2.roic.json — 3 answers, 14% of the words
  • FY2026-Q3.roic.json — 8 answers, 24% of the words

Sources

13
  1. Filing Axos Financial DEF 14A for the 2025 annual meeting (accession 0001299709-25-000174) · 2025-09-25
  2. Filing Axos Financial 8-K Item 5.02, Walsh appointed EVP & CFO (accession 0001299709-21-000259) · 2021-09-29
  3. Filing Axos Financial 8-K Item 5.02, Ann Gill appointed Chief Accounting Officer (accession 0001299709-24-000204) · 2024-09-26
  4. Filing Axos Financial 10-K for fiscal year ended 2026-06-30, signature page and exhibit index (accession 0001299709-26-000060) · 2026-08-20
  5. Filing Axos Financial 8-K Item 5.07, 2025 annual meeting results (accession 0001299709-25-000191) · 2025-11-14
  6. Filing Axos Financial 8-K Item 2.01, Capital One IRA deposit purchase completed (accession 0001299709-26-000066) · 2026-09-21
  7. Filing SEC XBRL companyconcept us-gaap/NetIncomeLoss, CIK 1299709 (FY2025 value from 10-K 0001299709-25-000125) · 2025-08-21
  8. Filing Form 4, Derrick Walsh (reporting CIK 1636371), sale of 2026-02-06 (0001636371-26-000002) · 2026-02-06
  9. Filing Form 4, Derrick Walsh, gift of 2025-12-09 (0001636371-25-000008) · 2025-12-10
  10. Filing Form 4, Derrick Walsh, RSU vesting, tax withholding and grant of 2026-09-15 (0001636371-26-000008) · 2026-09-16
  11. Call transcript AX fiscal Q2 2026 earnings call (2026-01-29), ROIC.ai
  12. Call transcript AX fiscal Q3 2026 earnings call (2026-04-30), ROIC.ai
  13. Web search result WebSearch: Axos Bank executive-team bio of Derrick K. Walsh (University of Richmond, Robins School of Business; California CPA; Series 27). Page itself blocked by the egress proxy, so only the search summary was read · 2026-09-24