Telebanc Financial Corp., a $2.3 billion asset bank that does business solely on the telephone and Internet, said it has filed a registration statement with the Securities and Exchange Commission for a secondary offering of common stock.

Telebanc hopes to raise $200 million for general purposes, including marketing expenses, said spokesman Todd MacKay. The bank spent $4.6 million on marketing in 1998 and increased deposits by 110%, to $1.1 billion.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.