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Axos was founded in 1999 as BofI Holding, Inc., by Jerry Englert, the founder of Bank of Del Mar, and Gary Lewis Evans, president of La Jolla Bank, with $14 million of startup capital. [8] It began operations as Bank of Internet on July 4, 2000. [2]
BofI Holding, Inc. (NAS: BOFI) is the holding company for BofI Federal Bank, a nationwide branchless bank that provides highly competitive consumer and business deposit products to its customers ...
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Nationwide Bank, in a bid to dispose off the retail banking segment, transfers $3-billion deposits to BofI Holding (BOFI).
The online-only bank delivered strong earnings growth, but a shift in its deposits toward higher-expense time deposits and a reduction in checking and savings balances isn't ideal.
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