April '10 - B. Riley acts as Sole Underwriter in Completing $15.94 Million Common Stock Offering for BofI Holding

B. Riley & Co., LLC (B. Riley), www.brileyco.com, a full service broker dealer providing research and trading ideas to institutional clients and high net worth individuals, and investment banking services to a wide range of middle market private and public companies, announced today that it has acted as sole underwriter in the successful completion of a $15.94 million common stock offering for BofI Holding, Inc. (NASDAQ:BOFI).

The offering consisted of 1,226,276 shares of BofI common stock at $13.00 per share.  The total shares sold in the offering included 159,949 shares purchased by B. Riley   through the exercise of the over-allotment option.

B. Riley Chairman Bryant Riley and Managing Director Robert Campbell worked on the transaction.

“Our in-depth knowledge and research coverage of the financial services industry allowed us bring this deal to appropriate institutional investors and complete this capital raise quickly for the benefit of BofI,” said Riley.

"The execution of the B. Riley team was excellent and exceeded our expectations", said Gregory Garrabrants, Chief Executive Officer and President of BofI. 

In a BofI-issued press release, the company has reported that net proceeds from the offering, after underwriting discounts and estimated transaction expenses, are anticipated to be approximately $15.2 million, and that it intends to use the net proceeds of the offering for general corporate purposes.

About B. Riley & Co.

B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and OTCQX DAD services to corporate, institutional and high net worth individual clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. The firm is recognized for its distinguished Equity Research. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders.  Founded in 1997, the firm is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Philadelphia, and New York.  It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com. 

About BofI Holding, Inc. and Bank of Internet USA

BofI Holding, Inc. is the holding company of Bank of Internet USA and trades on NASDAQ under the symbol BOFI. Bank of Internet USA is a consumer focused, FDIC insured, nationwide savings bank operating primarily over the Internet. It offers a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single-family mortgage loans. Bank of Internet USA offers products through its websites at http://www.bankofinternet.com/ and http://www.ApartmentBank.com/. Retail deposit products include certificates of deposit, online checking accounts with check images, bill payment, high interest savings accounts, ATM or Visa Check Cards, money market savings accounts, and ATM fee reimbursement anywhere in the world.

CONTACTS:
Bryant Riley   
Chairman
B. Riley & Co.
310-966-1444

Media Inquiries:
Nevena Orbach
The Orbach Company, Inc.
nevena@orbachco.com
818-904-0500