Axos Bank and Nationwide Enter Strategic Relationship
October 24, 2018
Axos Bank Will Provide Co-Branded Banking Products to Nationwide’s Associates and Customers
SAN DIEGO--(BUSINESS WIRE)-- Axos Bank (“Axos”), the banking subsidiary of Axos Financial, Inc. (NYSE: AX), announced today that it has signed a master relationship agreement (“Agreement”) with Nationwide Mutual Insurance Company (“Nationwide”) pursuant to which Axos will provide co-branded banking products and services to Nationwide customers and associates. The Agreement entails joint marketing of Axos banking products and services to existing Nationwide customers, as well as to new joint clients. The initial term of the agreement is five years.
“We are delighted with the opportunity to provide co-branded banking services to Nationwide’s associates, policyholders and general market clients,” said Greg Garrabrants, President and Chief Executive Officer of Axos Financial, Inc. "We will collaborate with Nationwide to create a seamless user experience and custom banking solutions that meet the needs of consumers, small businesses and commercial clients. Leveraging Nationwide’s strong brand and our collective data analytics and marketing capabilities, we are well positioned to deepen our relationships with existing and new households.”
“Our relationship with Axos signifies Nationwide’s commitment to helping our associates and members achieve their financial goals,” said Terrance Williams, Chief Marketing Officer and President of Emerging Businesses for Nationwide.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
About Axos Financial, Inc. and Axos Bank
Axos Financial, Inc. is the holding company for Axos Bank, a nationwide bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. With nearly $10 billion in assets, Axos Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners. 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. For more information about Axos Bank, please visit https://www.axosbank.com.
Forward-Looking Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to the projections of Axos Bank and Axos Financial’s performance and ability to provide co-branded banking products and services. 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 changes in interest rates, inflation, government regulation, general economic conditions, conditions in the real estate markets in which we operate and other factors beyond our control. These and other risks and uncertainties detailed in Axos Financial’s periodic reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those expressed or implied in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Axos Financial undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
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