Axos Financial in Las Vegas has agreed to buy a book of individual retirement accounts from Capital One Financial in McLean, Va.
Axos said in a regulatory filing that the IRAs have an aggregate balance of about $3.2 billion deposited into associated savings accounts and CDs, along with certain assets and liabilities. The deal is expected to close by the end of this year.
Axos will receive cash for the aggregate deposit balance of the acquired IRAs, less a negotiated premium.