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Business Wire
30-07-2025
- Business
- Business Wire
Axos Financial, Inc. Reports Fiscal Year 2025 Results
LAS VEGAS--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX) ('Axos' or the 'Company') today announced unaudited financial results for the fourth fiscal quarter ended June 30, 2025. Net income was $110.7 million and diluted earnings per share ('EPS') was $1.92 for the quarter ended June 30, 2025. Net income for the quarter ended June 30, 2024 was $104.9 million and diluted EPS was $1.80. Adjusted earnings and adjusted earnings per diluted common share ('Adjusted EPS'), non-GAAP measures described further below, increased $5.1 million to $111.8 million and increased $0.11 to $1.94, respectively, for the quarter ended June 30, 2025, compared to $106.7 million and $1.83, respectively, for the quarter ended June 30, 2024. Fourth Quarter Fiscal 2025 Financial Summary For the year ended June 30, 2025, net income was $432.9 million, a decrease of $17.1 million from net income of $450.0 million for the year ended June 30, 2024. Diluted EPS was $7.43 for the year ended June 30, 2025, a decrease of $0.23, or 3.0%, as compared to diluted EPS of $7.66 for the year ended June 30, 2024. The year ended June 30, 2024, included a one-time pre-tax gain of approximately $92.4 million, or $1.11 per diluted common share, related to the FDIC Loan Purchase. For the year ended June 30, 2025, adjusted earnings (a non-GAAP financial measure) increased $41.3 million or 10.4%, and Adjusted EPS (a non-GAAP financial measure) increased $0.76 per share or 11.3%. 'We grew loans by $856 million in the quarter ended June 30, 2025,' stated Greg Garrabrants, President and Chief Executive Officer of Axos. 'We generated positive loan growth across several consumer and commercial lending categories, including asset-based lending, auto lending, equipment leasing, lender finance, and single-family mortgage. Our net interest margin remained strong at 4.84% for the three months ended June 30, 2025 compared to 4.78% in the prior quarter.' 'Net interest income and non-interest income increased by $4.7 million and $7.9 million, respectively, on a linked quarter basis,' said Derrick Walsh, Chief Financial Officer of Axos. 'Our tax rate was approximately 29% for the quarter ended June 30, 2025, which includes the one-time non-cash deferred tax asset adjustment related to the change in California tax calculation methodology. Starting in the period ending September 30, 2025, we currently expect our effective tax rate to be reduced by three percentage points due to the change in California tax calculation methodology.' Other Highlights Ending net loan balances were $21.0 billion at June 30, 2025, up 4% or 16% annualized from $20.2 billion at March 31, 2025 Non-performing assets to total assets were 0.71% for the quarter ended June 30, 2025, down from 0.79% for the quarter ended March 31, 2025 Net interest margin was 4.84% for the quarter ended June 30, 2025, compared to 4.78% for the quarter ended March 31, 2025 Non-interest income was $41.3 million for the three months ended June 30, 2025, up 23.7% from $33.4 million for the quarter ended March 31, 2025 Total deposits were $20.8 billion at June 30, 2025, an increase of $1.5 billion, or 7.6%, from $19.4 billion at June 30, 2024 Added $214.7 million of net new assets under custody during the three months ended June 30, 2025 Total capital to risk-weighted assets was 15.39% for the Company at June 30, 2025, up from 14.84% at June 30, 2024 Book value per share increased to $47.46 at June 30, 2025, up 17.9% from $40.26 at June 30, 2024 Fourth Quarter Fiscal 2025 Income Statement Summary Net income was $110.7 million and diluted EPS was $1.92 for the three months ended June 30, 2025, compared to net income of $104.9 million and diluted EPS of $1.80 for the three months ended June 30, 2024. Net interest income increased $20.1 million or 7.7% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to lower rates paid on deposit balances. The provision for credit losses was $15.0 million for the three months ended June 30, 2025, compared to $6.0 million for the three months ended June 30, 2024. The provision for credit losses for the three months ended June 30, 2025, was primarily driven by loan growth, as well as the quantitative impact of macroeconomic variables in the commercial real estate allowance for credit losses model. Non-interest income increased to $41.3 million for the three months ended June 30, 2025, compared to $30.9 million for the three months ended June 30, 2024. The increase was primarily due to higher mortgage banking income, reflecting a $12.0 million gain recognized on a loan sale in the current quarter. Non-interest expense, comprised of various operating expenses, increased $10.1 million to $150.7 million for the three months ended June 30, 2025 from $140.5 million for the three months ended June 30, 2024. The increase was primarily due to higher salaries and related costs and higher data and operational processing expense. Balance Sheet Summary Axos' total assets increased by $1.9 billion, or 8.4%, to $24.8 billion, at June 30, 2025, from $22.9 billion at June 30, 2024, primarily attributable to an increase in loans. Total liabilities increased by $1.5 billion, or 7.5%, to $22.1 billion at June 30, 2025, from $20.6 billion at June 30, 2024, primarily attributable to higher deposit balances. Stockholders' equity increased $390.1 million, or 17.0%, to $2.7 billion at June 30, 2025 from $2.3 billion at June 30, 2024, primarily due to net income of $432.9 million. Conference Call A conference call and webcast will be held on Wednesday, July 30, 2025, at 5:00 PM Eastern / 2:00 PM Pacific. Analysts and investors may dial in and participate in the question/answer session. To access the call, please dial: 877-407-8293. The conference call will be webcast live, and both the webcast and the earnings supplement may be accessed at Axos' website, For those unable to listen to the live broadcast, a replay will be available until August 30, 2025, at Axos' website and telephonically by dialing toll-free number 877-660-6853, passcode 13754509. About Axos Financial, Inc. and Subsidiaries Axos Financial, Inc., with approximately $24.8 billion in consolidated assets as of June 30, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $39.4 billion of assets under custody and/or administration as of June 30, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol 'AX' and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index, among other indices. For more information on Axos Financial, Inc., please visit Segment Reporting The Company operates through two segments: the Banking Business Segment and the Securities Business Segment. In order to reconcile the two segments to the consolidated totals, the Company includes corporate activities and intercompany eliminations. Inter-segment transactions are eliminated in consolidation and primarily include non-interest income earned by the Securities Business Segment and non-interest expense incurred by the Banking Business Segment for cash sorting fees related to deposits sourced from Securities Business Segment customers. The following tables present the operating results of the segments: Use of Non-GAAP Financial Measures In addition to the results presented in accordance with accounting principles generally accepted in the United States of America ('GAAP'), this release includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this release enhance investors' understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures. We define 'adjusted earnings', a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related items (including amortization of intangible assets related to acquisitions) and other costs (unusual or non-recurring charges). Adjusted EPS, a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and Adjusted EPS provide useful information about Axos' operating performance. We believe excluding the non-recurring acquisition-related costs and other costs provides investors with an alternative understanding of Axos' core business. Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (Non-GAAP) for the periods shown: For the Three Months Ended June 30, For the Year Ended June 30, (Dollars in thousands, except per share data) 2025 2024 2025 2024 Net income $ 110,675 $ 104,872 $ 432,908 $ 450,008 FDIC Loan Purchase - Gain on purchase — — — (92,397 ) FDIC Loan Purchase - Provision for credit losses — — — 4,648 Acquisition-related costs 1,604 2,554 7,408 10,843 Other costs 1 — (1,878 ) — Income tax effect (465 ) (699 ) (1,627 ) 22,446 Adjusted earnings (Non-GAAP) $ 111,814 $ 106,727 $ 436,811 $ 395,548 FDIC Loan Purchase - Gain on purchase — — — (1.57 ) FDIC Loan Purchase - Provision for credit losses — — — 0.08 Acquisition-related costs 0.03 0.04 0.13 0.18 Other costs 1 — — (0.03 ) — Income tax effect (0.01 ) (0.01 ) (0.03 ) 0.39 Adjusted EPS (Non-GAAP) $ 1.94 $ 1.83 $ 7.50 $ 6.74 Expand 1 Other costs primarily reflects the payment of a legal judgment at an amount less than previously accrued. We define 'tangible book value', a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders' equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company's capital strength, financial condition, and ability to manage potential losses. Below is a reconciliation of total stockholders' equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated: Forward-Looking Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos' financial prospects and other projections of its performance and asset quality, Axos' deposit balances and capital ratios, Axos' ability to continue to grow profitably and increase its business, Axos' ability to continue to diversify its lending and deposit franchises, the anticipated timing and financial performance of other offerings, initiatives, and acquisitions, expectations of the environment in which Axos operates and projections of future performance. These forward-looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this press release. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation Axos' ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions, changes in the interest rate environment, monetary policy, inflation, tariffs, government regulation, general economic conditions, changes in the competitive marketplace, conditions in the real estate markets in which we operate, risks associated with credit quality, our ability to attract and retain deposits and access other sources of liquidity, and the outcome and effects of litigation and other factors beyond our control. These and other risks and uncertainties detailed in Axos' periodic reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Axos undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All written and oral forward-looking statements made in connection with this press release, which are attributable to us or persons acting on Axos' behalf are expressly qualified in their entirety by the foregoing information. AXOS FINANCIAL, INC. SELECTED CONSOLIDATED FINANCIAL INFORMATION (Unaudited – dollars in thousands, except per share data) June 30, June 30, (Dollars in thousands, except per share data) 2025 2024 2025 2024 Selected Income Statement Data: Interest and dividend income $ 442,413 $ 453,428 $ 1,815,465 $ 1,655,607 Interest expense 162,252 193,366 687,693 694,178 Net interest income 280,161 260,062 1,127,772 961,429 Provision for credit losses 14,997 6,000 55,745 32,500 Net interest income, after provision for credit losses 265,164 254,062 1,072,027 928,929 Non-interest income 41,285 30,861 131,066 222,660 Non-interest expense 150,652 140,535 589,698 516,108 Income before income taxes 155,797 144,388 613,395 635,481 Income tax expense 45,122 39,516 180,487 185,473 Net income $ 110,675 $ 104,872 $ 432,908 $ 450,008 Weighted average number of common shares outstanding: Basic 56,392,620 56,938,405 56,862,630 57,509,029 Per Common Share Data: Net income: Basic $ 1.96 $ 1.84 $ 7.61 $ 7.82 Diluted $ 1.92 $ 1.80 $ 7.43 $ 7.66 Adjusted earnings per common share (Non-GAAP) 1 $ 1.94 $ 1.83 $ 7.50 $ 6.74 Performance Ratios and Other Data: Growth in loans held for investment, net $ 855,980 $ 497,930 $ 1,818,225 $ 2,774,657 Loan originations for sale 42,487 52,574 199,845 197,305 Return on average assets 1.85 % 1.81 % 1.82 % 2.08 % Return on average common stockholders' equity 16.85 % 18.81 % 17.30 % 21.64 % Interest rate spread 2 3.97 % 3.63 % 3.97 % 3.62 % Net interest margin 3 4.84 % 4.65 % 4.90 % 4.62 % Net interest margin 3 – Banking Business Segment 4.88 % 4.68 % 4.95 % 4.68 % Efficiency ratio 4 46.87 % 48.31 % 46.84 % 43.59 % Efficiency ratio 4 – Banking Business Segment 42.63 % 41.39 % 41.22 % 38.42 % Asset Quality Ratios: Net annualized charge-offs to average loans 0.16 % 0.05 % 0.13 % 0.05 % Non-accrual loans to total loans 0.79 % 0.57 % 0.79 % 0.57 % Non-performing assets to total assets 0.71 % 0.51 % 0.71 % 0.51 % Allowance for credit losses - loans to total loans held for investment 1.36 % 1.34 % 1.36 % 1.34 % Allowance for credit losses - loans to non-accrual loans 5 170.23 % 229.84 % 170.23 % 229.84 % Expand 1 See 'Use of Non-GAAP Financial Measures.' 2 Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. 3 Net interest margin represents annualized net interest income as a percentage of average interest-earning assets. 4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income. 5 The decrease in the Allowance for credit losses - loans to nonaccrual loans is primarily attributable to the change in nonaccrual loans. 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Business Wire
04-07-2025
- Business
- Business Wire
Axos Financial Celebrates Twenty-Fifth Anniversary on July 4 th
SAN DIEGO--(BUSINESS WIRE)-- Axos Financial ('Axos') celebrates twenty-five years of successful evolution from a consumer-focused digital bank into a leading full-spectrum financial services firm. Today, Axos serves consumers, small businesses, and commercial and institutional clients nationwide across with a comprehensive range of deposit, lending, and securities services, all delivered with a focus on technological excellence. Over its 25-year history Axos Financial has been widely recognized for its innovation in digital banking and strong financial performance. Axos's founders selected July 4 th as its launch date to symbolize the freedom that a financial services firm focused on digital delivery could provide to clients tethered to the inconvenience and high cost of branch-based financial services delivery. By focusing the client's experience on digital technology and providing the option of reaching industry focused financial services experts, Axos experienced the strong client growth that has allowed it to continue to invest in better technology and expanded services for our clients. 'Our twenty-fifth anniversary is a source of pride for our team given the success we have achieved in serving clients across our diverse businesses. This milestone reflects our ability to adapt, evolve, and execute with discipline,' said Greg Garrabrants, President and CEO of Axos. 'We have proven that a digital first institution can become the primary bank for consumers and businesses by leading with technology. I am proud of what we have achieved and excited about our future. As we look ahead, Axos will continue to drive product and technological innovation to our clients with a relentless focused on driving innovation, deepening customer relationships, and delivering long-term value.' About Axos Financial, Inc. Axos Financial, Inc., with approximately $24.0 billion in consolidated assets as of March 31, 2025, is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC (including its business division Axos Advisor Services), with approximately $37.1 billion of assets under custody and/or administration as of March 31, 2025, and Axos Invest, Inc., provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively. Axos Financial, Inc.'s common stock is listed on the NYSE under the symbol 'AX' and is a component of the Russell 2000® Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial Technology Index, and the Travillian Tech-Forward Bank Index. For more information on Axos Financial, Inc., please visit
Los Angeles Times
22-06-2025
- Business
- Los Angeles Times
25 Years of Banking Evolved: How Axos Continues to Redefine the Financial Experience
In 2000, before smartphones and mobile apps became ubiquitous, Axos Bank launched with a bold vision: to be the first bank that existed entirely online. Twenty-five years later, that vision has not only been realized – it's been refined, scaled and expanded to serve individuals, businesses, and advisors nationwide. As Axos celebrates its 25th anniversary, it remains one of the few banks that can claim to be both a pioneer and a proven leader in digital finance. Axos didn't add digital banking to an existing legacy system – it built digital banking from the ground up. From day one, Axos challenged the status quo by eliminating the need for branches and proving that more innovative, faster and more secure banking could happen entirely online. This foundation allowed Axos to do what traditional banks couldn't: deliver world-class financial services without the overhead of brick-and-mortar operations. The result? Competitive rates and fees, backed by customer experience designed for how people live and work. From streamlined checking and savings accounts to competitive mortgages, business and commercial banking, and wealth management, Axos offers a full spectrum of financial solutions powered by 25 years of continuous innovation. Wherever you are and whatever your needs – business or personal – Axos gives you tools to manage your money on your terms: anytime, anywhere. Our integrated digital platform evolves with you, offering automation, personalized insights and human support when it counts. In the early 2000s, Axos led the charge toward digital-first finance. In 2025, we continue to set the pace. Our clients can easily open accounts, stay informed, and access their complete financial picture from a single, intuitive dashboard. Yet, for all our tech, we've never lost sight of what matters most: people. From relationship managers to product experts, Axos professionals are available and engaged – no matter where you are. The difference is that we come to you – via phone, video or secure message – on your schedule. Security and stability have been core to Axos's success from the beginning. As a federally chartered, FDIC-insured bank, we uphold the highest standards in compliance, cybersecurity and risk management. In today's digital world, our advanced encryption, fraud detection, and identity protection tools ensure that clients can bank or advise their own clients with confidence. From first-time homebuyers to sophisticated commercial clients, Axos serves the many, not just the few. For business owners, we offer tailored treasury and lending solutions. For individual investors and advisors, our integrated platforms simplify money management and power longterm growth. Because we started digital, we've always had the flexibility to meet clients where they are – and help them go where they want to be. Though our reach is national, our heart is local. With roots in Southern California and a strong presence in Los Angeles, Axos is committed to the communities that shaped us. We invest in financial literacy, community development, and local partnerships that align with our values of progress, access and impact. Over 25 years, we've grown from a bold idea into a nationally recognized digital bank, trusted by clients across the country. We're proud to lead from California and serve all 50 states with the same pioneering spirit that started it all. As we look to the next 25 years, one thing remains clear: the future of banking isn't just digital – it's personal, intelligent and adaptable. Whether planning your financial next step or seeking a partner to help you scale your business, Axos invites you to experience what it means to bank with a company that's been ahead of the curve for 25 years – and is just getting started. Celebrate 25 years of digital leadership. Visit to experience the future of banking – today. Bank products and services are offered by Axos Bank®. Loan products are subject to credit review and approval. This information is prepared for real estate and mortgage professionals only. It is not intended for public distribution or consumer information as it is not an advertisement presented within the guidelines required by the Truth-in-Lending Act or other pertinent federal regulations. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank. All deposit accounts of the same ownership and/ or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546 . All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. Interest and corresponding Annual Percentage Yield (APY) are variable and set at our discretion. Interest rates may change as often as daily without prior notice. Fees may reduce earnings. For more information read Axos Bank's FDIC Notice. at Notice. ©2025 Axos Bank. All rights reserved. Axos Bank NMLS #524995.
Yahoo
03-06-2025
- Business
- Yahoo
Best business bank account promos
Business bank accounts help small business owners separate their personal and business finances. Most business accounts also come with other benefits, such as access to credit lines, financial management tools, and ways to avoid maintenance and other fees. Many banks offer promotions to attract new customers, including cash bonuses for business checking accounts and promotional interest rates for business savings accounts. These offers can provide a nice financial boost if you meet the eligibility requirements. Just make sure to read the details carefully to ensure the account meets your business banking needs and you can qualify for the promo before signing up. The most common types of business account promos include: Cashback offers Membership rewards Higher interest rates Cashback and membership rewards are most common on business checking accounts, while business savings accounts typically come with promotional interest rates for the first few months of account opening. If you are prequalified for a bank promotion, you may receive an offer in the mail or by email. You can also search online to find bank promotions you may be interested in to see if you qualify. Some banks make it easy to find a promotional offer by displaying it on its home page. You can also search for the bank name and include 'promotional offer' in your search to find the most current promos that may not be displayed on the bank's website. This search may include personal and business bank account promos, but you can include 'business account' in your search to tailor the results to business banking promos only. Deciding whether a business account promotion is worth it comes down to a few key factors: Minimum requirements: Check if you can realistically meet the requirements, such as maintaining a certain balance or making a specific number of transactions, without straining your company's cash flow. Account fees: Make sure monthly maintenance or transaction fees don't wipe out the bonus amount. Check for low-fee account options or ways to waive fees. Long-term value: Consider if the account offers tools, services or interest rates that benefit your business long-term. Tax consequences: Many cash bonuses and promotional interest rates are reported on a 1099-INT, meaning they're taxable income. Factor this into your decision to avoid surprises at tax time. Bonus value vs effort: Consider how much time and effort it will take to earn the bonus and whether it's worth it. If the account fits your needs and the bonus adds value without added cost, it's likely worth it. The following banks offer some of the best business account promos for checking and savings accounts. Eligibility varies by bank and account type. Check the bank's website to see if you qualify. New Axos customers can earn up to $400 for opening an Axos Bank Business Checking Account or up to $375 for opening a Business Premier Savings account. Bonus details: Bonus amount: $200, $400, $375 Expiration date: September 30, 2025 Requirements to earn the bonus: Open a Basic Business Checking account online and use promo code START200 when signing up. You'll receive $50 cash back each month, totaling up to $200, when you maintain a minium average daily balance of $3,000 in the first few months of the account opening. Open a Basic Business or Business Interest Checking Account using promo NEW400 and maintain an average daily balance of $25,000 to $49,999.99 to earn $75 per statement cycle, up to $300, or $100 per statement cycle, up to $400, if you have an average daily balance of $50,000 or more. To qualify, you must make at least ten point-of-sale transitions of $3 or higher per month using your debit card for signature-based purchases. The account must stay open for at least 150 days and be in good standing to receive the incentive or incur a $400 early closure fee. Open a Business Premier Savings Account using promo code BPS375 to earn up to $375 in up to three payouts in the first four statement cycles. An average daily balance between $30,000 and $74,999.99 earns $75 per statement cycle, while a balance of $75,000 or more earns $125. The account must stay open for 120 days or incur a $375 early closure fee. When you'll get it: Within 10 business days of the statement cycle ending in which balance requirements are met. You can earn up to $500 after opening a Chase Business Complete Checking account online or at a local Chase branch. Bonus details: Bonus amount: $300, $500 Expiration date: July 27, 2025 Requirements to earn the bonus: Open a Chase Business Complete Checking account and deposit $2,000 of new money within 30 days of opening to earn $300 or $500 if you deposit $10,000 or more. You must maintain the balance for 60 days from enrollment and complete five qualifying transactions within 90 days of enrolling. When you'll get it: Within 15 days of completing all the requirements. New American Express Business Checking account members can receive 30,000 Membership Rewards points with qualifying activities. Bonus details: Bonus amount: 30,000 Membership Rewards points Expiration date: Not disclosed Requirements to earn the bonus: Open an American Express Business Checking account and deposit at least $5,000 within the first thirty days of opening the account. Deposits from American Express deposit accounts you own, interest payments and Redeem Membership Rewards Points for Deposits feature are not eligible. You must maintain an average daily balance of at least $5,000 for 60 days from the date you have $5,000 of eligible deposits and complete five qualifying transactions within 60 days of opening the account. When you'll get it: Within 8-12 weeks of meeting the qualifying criteria. Businesses with less than $5 million annual revenue can earn up to $1,000 by opening a new PNC business bank account online or in a branch. Bonus details: Bonus amount: $400, $1,000 Expiration date: June 30, 2025 Requirements to earn the bonus: Open a new Business Checking or Business Checking Plus account and maintain an average ledger balance of at least $2,000 and make a minimum of 10 qualifying transactions in the first three statement cycles to earn a $400 cash reward. Open a new Treasury Enterprise Plan or Analysis Business Checking account and maintain at least a $30,000 average ledger balance in the first three statement cycles to earn a $1,000 cash reward. When you'll get it: Not disclosed New Truist business checking clients can earn $400 by opening a business checking account online, over the phone or in a branch. Bonus details: Bonus amount: $400 Expiration date: September 30, 2025 Requirements to earn the bonus: Open a new Truist Simple Business Checking or Dynamic Business Checking account online using promo code SB25Q2CHECKING and make qualifying deposits of at least $2,000 within 30 days of account opening. When you'll get it: Within four weeks of meeting qualifications. New Citibank Business Checking accounts and existing customers without a business checking account in the preceding 180 days can earn up to $2,000 after completing the eligibility criteria. Bonus details: Bonus amount: $300, $500, $1,000, $1,500, $2,000 Expiration date: July 7, 2025 Requirements to earn the bonus: Open a new CitiBusiness® Analyzed, Streamlined or Flexible Checking Account online or in branch and make a qualifying deposit of at least $5,000 within 45 days of opening the account. You must maintain the balance 45 more days after the 46th day of enrollment. Cash bonuses are tiered depending on how much you deposit: $5,000 – $19,999: $300 $20,000 – $49,999: $500 $50,000 – $99,999: $1,000 $100,000 – $199,999: $1,500 $200,000 +: $2,000 When you'll get it: Within 30 days from the month end of meeting all qualifications. Earn up to $1,000 after opening a new Equity Bank Small Business or Commercial Checking account with at least $10,000 at account opening. Bonus details: Bonus amount: $500, $1,000 Expiration date: June 30, 2025 Requirements to earn the bonus: Businesses in Kay County, OK and Osage County, OK, are eligible by opening a new Small Business or Commercial checking account in a local branch or online using promo code BIZ1000. You can earn $500 with a new money deposit of $10,000, or $1,000 with a new money deposit of $20,000 within 30 days of opening the account. You must maintain a daily balance of at least the opening deposit for 60 days after opening the account to qualify. When you'll get it: Within 30 days of the last calendar day of the month after completing the offer requirements. Open a new Associated Bank business checking account in person or online to receive up to $750 in bonuses. Bonus details: Bonus amount: $100, $400, $750 Expiration date: June 30, 2025 Requirements to earn the bonus: Open a Business Access Checking account with a minimum deposit of $2,000 to earn $100, a Business Balance Checking account with a minimum deposit of $5,000 to earn $400 or a Business Choice Checking account with a minimum deposit of $20,000 to earn $750. All deposits must be new money not from an existing Associated Bank account, be deposited within 30 days of opening the account, maintain a minimum of the opening balance for 31 to 90 days after account opening and remain open for 12 months after getting the bonus to be eligible. When you'll get it: Within 120 days of opening the account. You can earn a promotional annual percentage yield for three months on qualifying deposits after opening a Capital One Business Savings Account. Bonus details: Bonus amount: Up to 3.70 percent APY on the first three months' savings account balance. Expiration date: 92 days after opening the account. Requirements to earn the bonus: Open a Capital One Business Savings Account to earn a three-month promotional APY on your balance. Balances up to $9,999.99 earn a 0.25 percent interest rate, while balances from $10,000 to $10 million earn 3.64 percent promotional interest, or 3.70 percent APY. Amounts above $10 million earn a 0/10 percent interest rate APY. A variable interest rate applies to the balance after the promotional rate ends. When you'll get it: Credited on the last day of each statement cycle. Business bank account promotions can be a smart way to earn extra cash while setting your company up for financial success. For startups especially, opening a business account can also help establish a lender relationship, potentially leading to better rates on future small business loans. Whether you're eyeing a checking or savings account bonus, take time to understand the terms, fees and long-term value. A great promo should work for your business, not the other way around. By weighing the benefits against the requirements and potential tax implications, you can choose a business account that supports your short-term gains and long-term goals. Are all business bank promotions a good deal? Not all business bank promotions are a good deal, and some can actually cost more than they're worth. While the cash bonus might look tempting upfront, it's important to dig into the details. Some promos come with high minimum balance requirements, steep monthly fees, or strict activity conditions that don't fit every business's needs. Others may trigger tax implications if you receive a 1099-INT and have to claim the bonus as taxable income. Is it worth moving your business banking for a good promo? It can be worth moving your business banking for a good promo if the new account fits your long-term needs. A generous cash bonus might sound appealing, but switching banks takes time and effort and may cause disruption to your operations from having to update payment systems or vendor information. If switching will save you money, offer better features and tools with low fees and easy requirements to meet, and the bonus amount is worth it, then it's probably a good move. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Agriland
17-05-2025
- Automotive
- Agriland
Oddities, originals, and optimism at Kingdom County Show
The Kingdom County Show in Co. Kerry this year saw the sun draw a large crowd to the two-day event, which encompassed the usual equine activities along with a good deal of support from local businesses. There was also a strong showing of machinery – both contemporary and vintage – at the event, with some noteworthy exhibits on both sides as dealers and collectors came along in support of the show. Amongst the dealers' stands was an early sighting of the new Claas Axos 3 in Ireland, brought along by Nolan's Garages Ltd, the local dealer for the brand. Delivery delay Launched earlier this year, the latest Axos range is designed to appeal to farmers who are looking for an everyday tractor that is easy to operate and can cope with the multitude of tasks involved in running a stock farm. The Axos 3 is a budget-orientated tractor that is totally suited to the Irish market and has now arrived here. It appears that the tractor may be a victim of its own success, for this particular example arrived two months after it was promised, with the delivery date being constantly revised. Yet now that it is here, Nolan's see a good market for such a machine in the area. On the day, it was matched with a Volto 55 tedder, a typical task for such a tractor. Farmers buying again Shane O'Connor of O'Connor's Tractors, Knocknagoshel was in upbeat mood as he welcomed old friends and customers to his pitch. O'Connor believes the tide has recently turned and, speaking for his business, he noted that farmers have suddenly started looking to buy machinery again, with the company enjoying a busy few weeks of late. This Valtra T215 comes with front hitch and Valtra unlimited paint job to lend it an air of distinction O'Connor has been selling Valtras for a while now, and his enthusiasm for the make is still growing as it becomes more strongly established as a mainstream brand in the area, resulting in him not being afraid to pitch them as a premium machine. Hedgecutter success RT Sales Ltd of Castleisland hit the ground running last year with the launch of its new hedgecutter, which won Machine of the Year at last year's National Ploughing Championship. The success has not let up since, with sales greatly exceeding the original production capacity, leading to other local engineering companies being roped into helping to produce the machines to meet demand. The Kerry show is local to RT Sales, so they brought a hedge trimmer along in support Padraig Teahan, founder of RT Sales Ltd along with his father, John, puts the demand for the hedgecutter down to the simplicity and ease of mounting the machine, which rests on the tractor's hitch, eliminating the need to crawl around under the tractor. Padraig also feels that dissatisfaction with current hedge trimmers on the market – which are all imported and rely on parts operations based outside of Ireland – is another big factor in the good fortune enjoyed by RT Sales, and the fact that it is made in Ireland also counts a great deal. Zetor birthday bash Away from the contemporary machinery at the Kingdom County Show, the vintage and classic section had put a call out for Zetor and JCB machines, both of which are celebrating their 80th birthday this year. A good selection of Zetors had turned out, ranging from the pristine to the well-used and all those in between, all of which have earned their keep on Irish farms over the years. Despite the knocking they got from competitors of the time, Zetors were by no means delicate flowers. The 23hp 2511 was made between 1968-1972 – though this one looks a little worn at the edges, it is still far from retirement Rugged, simple, and fixable would sum up the make and this was exemplified by the tractors on show. These ranged from the mighty Zetor 16145, which boasted 161hp – a big number for the late 80s – to the diminutive 2511, which gave just 23hp from its two cylinder engine. Deutz Intrac at Kingdom County Show Over the years, there have been many variations of the standard tractor format, with many of these originating on the continent where the range of tasks varied from what we know here in Ireland due to a greater emphasis on root and vegetable crops. This led to the development of tool carriers and system tractors, which were not built as plough tractors but instead were to be used for interrow cultivations, spraying, and spreading. Looking very modern for its age, the Deutz Intrac was a machine for the vegetable and specialist growers market Deutz produced the Intrac series of machines to serve this market, and one of them from the late seventies as made its way to Ireland in the form of the Intrac 2003, owned by Brendan Ferris. This variant was a two-wheel drive model powered by a 60hp, KHD air-cooled diesel that still runs as sweetly today as it ever did with just 3,000 hours on the clock. 2,300 of the Intrac 2003 were made which, for a specialist tractor with what was said to be a hefty price tag at the time, was probably not a bad sales record. Engineering oddity Restoring and maintaining a tractor in its standard form is never quite enough for some and there are those who always want to go further – quite a bit further in some cases. How the Massey Ferguson 1200 could have looked if thought of 15 years earlier One such case is that of a Ferguson 35 that has been adapted to four-wheel drive, not by the usual method of bolting a stray Land Rover axle to the front, but by adding a second rear axle to to the back to form an articulated unit. This impressive and tidy feat of engineering had obviously absorbed a good deal of time and thought in order to produce something rather unique in the classic tractor world, and it was good to see the Kingdom County Show attract such machines.
