Now BofI will have to balance interests of its customers (fewer fees, better rates) with interests of its shareholders (more fees, lower rates). I can't say I like this.
Just got the following email from BofI.
Dear BofI Customers and Friends:
BofI Holding, Inc., our parent company and 100% owner of Bank of Internet USA, is planning to go public. Many of you have asked to be notified in such an event. For those with an interest, we invite you to participate through the OpenIPO Internet auction managed by WR Hambrecht + Co.
To participate in the OpenIPO, you must have an account at WR Hambrecht + Co or one of the selling group members.
Please check with your broker or, if you prefer, you may open an account with WR Hambrecht + Co to participate in the OpenIPO. Please go to the WR Hambrecht + Co web site for more information. Listed below is contact information for WR Hambrecht + Co.
Gary Lewis Evans
President & CEO
Bank of Internet USA
Bofi Holding, Inc. and Bank of Internet USA are not affiliated with WR Hambrecht + Co.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the securities. Only the prospectus makes the offering. Copies of the preliminary prospectus may be obtained by:
Visiting on the web: Visit the Bank of Internet USA Web Site and click on the button or go directly to the WR Hambrecht + Co, Web Site at http://www.wrhambrec.../ind/index.html
Writing to: WR Hambrecht + Co, P.O. Box 677, Berwyn PA 19312-0677
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication 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 which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without notice of its acceptance given after the effective date. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.
WR Hambrecht + Co is a member NASD/SIPC.
This message is intended only for the addressee. Please notify the sender by email if you are not the intended recipient. If you are not the intended recipient, you may not copy, disclose, or distribute this message or its content to any other person and any such actions may be unlawful. Electronic mail sent through the Internet is not secure.
Please do not reply to this email.
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IPO of Bank of Internet
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