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BofI Holding (BOFI) in San Diego earned a record quarterly profit on surging interest income and a higher interest margin.
February 6 -
BofI Holding (BOFI) in San Diego plans to raise $18.6 million through a private placement of preferred stock.
October 16
BofI Holding (BOFI) in San Diego is embarking on another capital raise.
The $2.9 billion-asset parent of BofI Federal Bank said Monday it seeks as much as $50 million for general corporate purposes through the sale of common stock, according to a filing with the Securities and Exchange Commission.
It has raised roughly $53.4 million through a series of stock sales since 2011.
BofI's Internet-banking model makes it more profitable than conventional banks because its costs are lower, executives told investors recently.
The proposed capital raise could fund future deals, according to Andrew Liesch, an analyst with Sandler O'Neill. "Given the company's recent growth trends, we think any fresh capital would be quickly deployed," Liesch wrote Wednesday in a note to investors.
Raymond James, JMP Securities, Liquidnet and Sandler O'Neill are serving as distribution agents for the offering.
