SOURCE: BofI Holding, Inc.

BofI Holding, Inc.

January 10, 2011 09:29 ET

Bank of Internet Hires Chief Risk Officer

SAN DIEGO, CA--(Marketwire - January 10, 2011) - BofI Holding, Inc. (NASDAQ: BOFI) ("BofI"), parent of Bank of Internet USA (the "Bank"), today announced the hiring of Thomas Williams as Senior Vice President, Chief Risk Officer.

"Mr. William's valuable perspective on risk management, developed in his 15 years of experience as a regulator both at the OCC and the Federal Reserve, combined with his proven expertise managing risk in growing entrepreneurial institutions, makes him a strong fit for our organization," said Greg Garrabrants, the Bank's President and Chief Executive Officer. "Previously, the duties of the Chief Risk Officer were assigned to our Chief Credit Officer. We believe splitting the role of Chief Credit Officer and Chief Risk Officer is a prudent investment in our risk management infrastructure."

A veteran of the banking industry, Mr. Williams has extensive experience across a broad range of risk and lending activities. In his most recent position he was the Executive Director of Commercial Credit Review at Capital One in New York. Prior to Capital One, he was the Director of Regulatory Relations at Silicon Valley Bank in Santa Clara, California for six years. Earlier in his career, Mr. Williams was a Principal Examiner at the Federal Reserve Bank of San Francisco for five years and a National Bank Examiner with the OCC for ten years. 

"Throughout my career, I have worked at a wide variety of banks and I understand the importance of identifying and managing all of a company's risks and opportunities. I see that commitment to risk management at Bank of Internet and I'm excited to be joining such a strong, innovative company and leadership team," said Mr. Williams.

About BofI Holding, Inc. and Bank of Internet USA
BofI Holding, Inc. (NASDAQ: BOFI) is the holding company for Bank of Internet USA (the "Bank"), a nationwide savings bank that operates primarily through the Internet. The Bank provides a variety of consumer and wholesale banking services, focusing on gathering retail deposits over the Internet, and originating and purchasing single and multifamily mortgage loans, and purchasing mortgage-backed securities. BofI operates its Internet-based bank from a single location in San Diego, California. For more information on Bank of Internet USA, please visit http://www.bankofinternet.com.

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

Statement under the Private Securities Litigation Reform Act of 1995
This press release may include "forward-looking statements" that are subject to risks and uncertainties. Forward-looking statements include information about possible or assumed future results of the operations or the performance of the Company and its future plans and objectives. Various future events or factors may cause the actual results to vary materially from those expressed in any forward-looking statements made in this press release. For a discussion of these factors and risks, see the Company's annual report on Form 10-K for the most recently ended fiscal year.

Contact Information

  • Contact:
    Kristi Procopio
    (858) 704-6239