SOURCE: Bank of Internet USA

Bank of Internet USA

September 02, 2010 09:10 ET

Bank of Internet Hires New Chief Credit Officer and Chief Operating Officer

SAN DIEGO, CA--(Marketwire - September 2, 2010) -  BofI Holding, Inc. (NASDAQ: BOFI) ("BofI"), parent of Bank of Internet USA (the "Bank"), today announced the hiring of Tom Constantine as Executive Vice President, Chief Credit Officer and Chief Regulatory Affairs Officer and Adriaan van Zyl as Executive Vice President and Chief Operating Officer for the Bank. Mr. Constantine will replace former Chief Credit Officer Gary Evans who left the Bank to become Chief Executive Officer of Palm Desert National Bank.

Prior to joining the Bank, Mr. Constantine was a senior examiner with the Office of Thrift Supervision (OTS), serving his second stint with the agency. Mr. Constantine first joined the OTS in 1989, during the Savings and Loan Crisis, and has over 23 years of experience in the banking and financial services industries. Prior to his return to the OTS in 2003, Mr. Constantine worked as a commercial real estate loan officer for George Elkins Mortgage Banking Company and as an executive officer at First Bank of Beverly Hills, where he assumed positions of increased responsibility, including Portfolio Manager, Chief Lending Officer, and finally Chief Credit Officer.

Mr. van Zyl has extensive corporate, commercial and investment banking experience. He started his career in 1982 at Barclays Bank as part of its executive development program. His subsequent experience includes serving as Chief Credit Officer, Chief Financial Officer, President and Chief Executive Officer for various banks and divisions. Most recently, he was President and Chief Executive Officer respectively at two industrial banks.

Greg Garrabrants, President and Chief Executive Officer, commented, "We welcome Mr. Constantine and Mr. van Zyl to our management team. Both are proven leaders who will allow the Bank to aggressively take advantage of the significant opportunities available in the market. The Bank has always focused on creating a conservative credit culture and Mr. Constantine will continue to carry that culture forward as we aggressively expand. Mr. van Zyl will be focused on continuing to improve the Bank's operations so we can maintain our high level of efficiency as we grow."

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.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as BofI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to execute our business plans, the impact on our business of further declines in the economy or potential legislative and regulatory reforms, as well as other risks and uncertainties, including but not limited to those detailed from time to time in our filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance and should not be relied upon as representing management's views as of any subsequent date. BofI does not undertake any obligation to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

Contact Information

  • Contact:
    Kristi Procopio
    (858) 704-6239