BofI Holding Inc. in San Diego has announced plans to raise $13.19 million in a public stock offering.
The $1.4 billion-asset company, whose business niche is providing banking services over the Internet, priced the offering of 1.066 million shares at $13 per share on Tuesday, 7% under its stock's Monday closing price of $14.
The proceeds are to be used for general corporate purposes. The offering is expected to close April 5.
The company's subsidiary, Bank of Internet USA, was considered "well capitalized" by regulatory standards at the end of December. Its total risk-based capital ratio was 17.01%; the Tier 1 risk-based ratio was 16.18%, and the leverage ratio was 7.91%.