BofI Holding Inc. Changes Name of Bank Subsidiary to BofI Federal Bank
October 03 2011 - 8:00AM
Marketwired
BofI Holding, Inc. (NASDAQ: BOFI) the holding company for Bank of
Internet USA, announced that it has changed the name of its
federally chartered savings bank from Bank of Internet USA to BofI
Federal Bank (www.bofifederalbank.com).
"We have historically reached our customers through multiple
brands targeted at specific products or customer segments. Although
Bank of Internet USA has always been our flagship consumer direct
Internet brand, we currently serve our consumer direct banking
customers through multiple brands, our multifamily lending
customers through ApartmentBank.com, and the financial advisory
community through BofIAdvisor.com. As a division of BofI Federal
Bank, Bank of Internet USA will remain BofI Federal Bank's flagship
consumer direct Internet banking brand. BofI Federal Bank has
adopted the new name and logo to unify its division brands under an
umbrella entity," stated Gregory Garrabrants, President and Chief
Executive Officer.
BofI Federal Bank's distribution channels for deposits and
lending products include:
Bank of Internet USA, America's Oldest and Most
Trusted Internet Bank, is a secure, full service bank that
provides all the banking and mortgage products and services
customers want without having to step inside a bank branch.
UFB Direct (www.ufbdirect.com) is the bank
that pays you airline mileage for your everyday banking. Customers
can redeem airline miles through American Airlines.
BofI Advisor (www.bofiadvisor.com) is a
concierge program designed for the Broker Dealer and Financial
Advisor community offering competitive banking products with high
interest rates. BofI Advisor is a competition-free environment with
no in-house wealth management.
Apartment Bank (www.apartmentbank.com)
focuses on speed of delivery and flexible, tailored financing of
multifamily loans from $250K to $10 million.
Mr. Garrabrants continued, "We are firmly committed to our
low-cost, technology-driven, branchless customer acquisition and
delivery model. The cost efficiencies inherent in our business
model will continue to allow us to grow our consumer banking
franchise and extend that franchise into certain segments of the
business banking marketplace."
In conjunction with the name change, Bank of Internet USA
released its new website (www.bankofinternet.com) with an updated
look and feel and upgraded functionality.
There is no change of ownership, merger or acquisition
associated with this name change.
About BofI Holding
BofI Holding, Inc. ("BofI") is the holding company for BofI
Federal Bank, a nationwide branchless bank that provides financing
for single and multifamily residential properties, small-to-medium
size businesses in target sectors, and selected specialty finance
receivables. With over $2.0 billion in assets, BofI Federal Bank
provides consumer and business banking products through its
low-cost distribution channels and affinity partners. BofI's common
stock is listed on the NASDAQ Global Select Market under the symbol
"BOFI" and is a component of the Russell 3000 Index.
For up-to-date company information and facts and figures about
BofI Holding, Inc. visit www.bofiholding.com or contact Kristi
Procopio at (858) 704-6239.
Contact: Kristi Procopio (858) 704-6239
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