BofI Holding, Inc. Closes $15.94 Million Common Stock Offering

* Reuters is not responsible for the content in this press release.

Tue Apr 6, 2010 2:20pm EDT 

  SAN DIEGO, CA, Apr 06 (MARKET WIRE) -- 
BofI Holding, Inc. (NASDAQ: BOFI) ("BofI"), parent of Bank of Internet
USA ("Bank"), announced the completion of its firm commitment
underwritten public offering of 1,226,276 shares of its common stock at
$13.00 per share. The total shares sold in the offering include 159,949
shares purchased by the underwriter through the exercise of the
over-allotment option.

    Net proceeds to BofI from the offering, after deducting underwriting
discounts and estimated transaction expenses of the offering payable by
BofI, were approximately $15.18 million. BofI intends to use the net
proceeds of the offering for general corporate purposes including
supporting the growth of the Bank. 

    B. Riley & Co., LLC acted as the sole underwriter in the offering.

    This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. The shares of
common stock described above were offered by the company pursuant to a
registration statement previously filed and declared effective by the
Securities and Exchange Commission. A prospectus supplement and the
accompanying base prospectus describing the terms of the offering have
been filed with the SEC and form part of the effective Registration
Statement.

    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 the Bank, please visit www.bankofinternet.com.

    

Contact:
BofI Holding, Inc.
Gregory Garrabrants, Chief Executive Officer
(858) 350-6203
Email Contact 

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