Tuesday, May 5, 2026
Axos Bank hits $1 billion in small business deposits
The University City-based bank said it now serves more than 40,000 small business customers nationwide, offering online banking tools, payments support and account management services.
Axos Bank said it has surpassed $1 billion in small business deposits, a milestone the company announced during National Small Business Week as it highlights growing demand for digital-first banking services among entrepreneurs.
The University City-based bank said it now serves more than 40,000 small business customers nationwide, offering online banking tools, payments support and account management services designed to streamline day-to-day operations.
The deposit milestone reflects increasing trust from small business owners seeking faster and more flexible financial services, according to the company.
"Small businesses want banking that works the way they work today -- fast, straightforward and dependable," said Tim Chung, senior vice president and head of consumer deposits at Axos, in a statement.
Axos said small businesses play a central role in the U.S. economy, and the annual observance, held May 3-9 this year, recognizes their contributions to job creation and local communities.
Axos executives said the company has focused on building a digital platform that reduces reliance on physical branches while still providing customer support when needed. The approach reflects a broader shift in the banking industry toward online and mobile services.
In addition to core banking, Axos has expanded partnerships with payroll providers, merchant service companies and other financial technology firms to offer integrated tools for payments, payroll and financial management.
Tania Akhavan, the bank's head of small business banking, said business owners are increasingly looking for connected systems that simplify financial operations.
"Small business owners are managing more moving pieces than ever, and they need financial relationships that can keep pace," she said in a statement.
Axos is part of Axos Financial Inc., which reported about $28.2 billion in total assets at the end of 2025. The company also operates Axos Clearing and Axos Invest, and it provides consumer and business banking services nationwide through digital channels and partner networks.
The bank said it plans to continue expanding its small business offerings as demand grows for streamlined, technology-driven financial services.
