Axos Financial-backed Axos Bank to acquire Verdant for $43.5m.

Axos Financial-backed Axos Bank, a financial institution, agreed to acquire Verdant, an independent equipment leasing company, for $43.5m. “We like Verdant’s specialization in vendor-based equipment leasing and believe we can scale this business profitably. Additionally, we see opportunities to cross-sell commercial deposits and floorplan lending to manufacturers and dealers in several industry verticals such as specialty vehicles, golf, sports and entertainment. After replacing their high-cost funding with our lower-cost deposit funding and growing new originations, we expect the transaction to be accretive to earnings per share by approximately 2%-3% in fiscal 2026 and 5%-6% in fiscal 2027,” Greg Garrabrants, Axos Financial President and CEO.