BOFI Announces New Chairman of its Board of Directors
February 16 2017 - 4:45PM
Business Wire
Paul Grinberg Elected Chairman – Ted Allrich
Retires
BofI Holding, Inc. (NASDAQ: BOFI), parent of BofI Federal
Bank (together, the “Company”), today announced the election of
Director Paul Grinberg as Chairman of Board of Directors following
the retirement of former Chairman Ted Allrich effective February
15, 2017. Mr. Allrich will continue to serve the Company in a
consulting capacity through February 28, 2018.
“For more than 17 years Ted has provided the Company exemplary
leadership,” stated Paul Grinberg, incoming Chairman of the Board.
“Starting in 1999 as a founding director, Ted has guided the
Company through extraordinary growth and strategic transformation.
As an early adopter of online financial advisory services, Ted
brought a unique blend of digital banking expertise and financial
market acumen. On behalf of the entire Board, we are grateful for
his contributions to the Company and wish him the best in
retirement.”
Paul Grinberg has served on the Company’s Board of Directors
since April 2004 and brings extensive experience to the
position of Chairman of the Board. Mr. Grinberg was Chief Financial
Officer of Encore Capital Group, Inc. (NASDAQ: ECPG) (“Encore
Capital”) from September 2004 to February 2015 and currently
manages international operations and corporate development for
Encore Capital.
“We thank Ted for his service, dedication and guidance,” stated
Greg Garrabrants, President and Chief Executive Officer of the
Company. “I look forward to working with Paul in his new capacity
and with the rest of the Board to continue to deliver strong
operating results and create shareholder value. With our strong
capital position, low-level of non-performing assets,
industry-leading efficiency and returns, and diverse opportunities
to grow our lending and deposit businesses, we are ideally
positioned for continued success.”
About BofI Holding, Inc. and BofI Federal Bank
BofI Holding, Inc. is the holding company for BofI Federal Bank,
a nationwide bank that, among other financial products and
services, provides financing for single and multifamily residential
properties, small-to-medium size businesses in target sectors, and
selected specialty finance receivables. With approximately $8.2
billion in assets, BofI Federal Bank provides consumer and business
banking products directly and through third-party channels. BofI
Holding, Inc.’s common stock is listed on the NASDAQ Global Select
Market under the symbol “BOFI” and is a component of the Russell
2000® Index, the S&P SmallCap 600® Index, and the KBW Nasdaq
Financial Technology Index. For more information on BofI Federal
Bank, please visit bofifederalbank.com.
Forward-Looking Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including without limitation
statements relating to BofI’s financial prospects and other
projections of its performance and asset quality, BofI’s ability to
grow and increase its business, diversify its lending, the outcome
and effects of pending class action litigation recently filed
against the Company, and the anticipated timing and financial
performance of offerings, initiatives or acquisitions. 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 BofI’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
BofI 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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version on businesswire.com: http://www.businesswire.com/news/home/20170216006328/en/
BOFIInvestor Relations Contact:Johnny Lai, CFAVP, Corporate
Development & Investor
Relations858-649-2218jlai@bofifederalbank.com
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