58.9 F
San Diego
Tuesday, Mar 19, 2024
-Advertisement-

BofI Reports 42.9 Percent Increase in Q1 Net Income

San Diego-based BofI Holding, Inc., parent company of BofI Federal Bank, reported net income of $25.5 million for the first fiscal quarter ending Sept. 30. That was a 42.9 percent increase over the net income of $17.8 million for the same quarter in 2014.

“We delivered record earnings and margin expansion last quarter,” said Greg Garrabrants, president and CEO. “Loan growth was strong across a variety of categories. We successfully closed the H&R Block agreements, adding over 250,000 new IRA customers and approximately 729,000 new prepaid accounts, further diversifying our deposit base. We see tremendous opportunities to leverage Block’s nationwide footprint and digital channels to provide a variety of services to Block’s customers over time.”

BofI purchased H&R Block Bank earlier this year.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-