Bofi Federal Bank in San Diego, California (CA)



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Bofi Federal Bank
GeneralFDIC Certificate #: 35546
Status: Active
Federal Reserve ID: 2917317
Date Established: July 04, 2000
WWW: http://www.bankofinternet.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 1 (Domestic: 1, Interstate: No)
OTS Docket #: 16456
FDIC's unique #: 81655
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 04, 2000
Last Structure Change Effective Date: October 02, 2011
Last Structure Change Process Date: October 02, 2011
Last Data Update: October 02, 2011
Data Source Date: April 05, 2012
LocationAddress: 12777 High Bluff Drive #100, San Diego, CA 92130
County: San Diego
Quarterly Banking Profile Region: San Francisco
FDIC Geographic Region: San Francisco
FDIC Supervisory Region: San Francisco
FDIC Field Office: Orange
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): San Diego, CA (#7320)
Core Based Statistical Area (CBSA): San Diego-Carlsbad-San Marcos, CA (#41740)
CBSA Metro Statistical Area: San Diego-Carlsbad-San Marcos, CA (#41740)
History of ChangesCorrections
Name Change
Financial SummaryTotal assets: $2,225.3 mil
Equity capital: $182.1 mil
Deposits held in domestic offices: $1,578.1 mil
Return on assets (ROA): 1.33% ($29.6 mil)
Quarterly return on assets: 1.33% ($29.6 mil)
Return on Equity (ROE): 16.45% ($29.9 mil)
Quarterly return on equity: 16.39% ($29.8 mil)
Net income: $25.7 mil
Quarterly Net income: $7.2 mil
Pretax return on assets: 2.22% ($49,402.0 mil)
Quarterly Pretax return on assets: 2.26% ($50,292.2 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)200
Total assets$2,225,317
Cash and due from depository institutions$8,796
Interest-bearing balances$201
Securities$504,703
Federal funds sold & reverse repurchase agreements$13,507
Net loans & leases$1,628,982
Loan loss allowance $8,090
Trading account assets$5,678
Bank premises and fixed assets$3,745
Other real estate owned$1,614
Goodwill and other intangibles$0
All other assets$58,292
Life insurance assets$2,225,317
Total liabilities and capital$2,043,238
Total liabilities$1,578,067
Total deposits$1,560,910
Interest-bearing deposits$1,578,067
Deposits held in domestic offices$90
% insured (estimated)130000.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$330,000
Other borrowed funds $0
Subordinated debt $5,171
All other liabilities $182,079
Total equity capital$182,079
Total bank equity capital$182,079
Perpetual preferred stock$0
Common stock$12,216
Surplus$99,675
Undivided profits $70,188
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $14,574
Earning assets $0
Long-term assets (5+ years) $6,746
Average Assets, year-to-date $2,153,071
Average Assets, quarterly $0
Volatile liabilities $1,933,674
Insider loans $2,162,186
FHLB advances $1,397,685
Loans and leases held for sale $2,229,080
Unused loan commitments $5,176
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $184,335
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $88,463
Derivatives$9,369
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $105,757
Total interest expense $36,534
Net interest income $69,223
Provision for loan and lease losses $6,502
Total noninterest income $10,475
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $1,250
Additional noninterest income $9,225
Total noninterest expense $29,320
Salaries and employee benefits $15,933
Premises and equipment expense $3,470
Additional noninterest expense $9,917
Pre-tax net operating income $43,876
Securities gains (losses) -$878
Applicable income taxes $17,285
Income before extraordinary items $25,713
Extraordinary gains - net $0
Net income attributable to bank $25,713
Net charge-offs $0
Cash dividends $25,713
Sale, conversion, retirement of capital stock, net $4,840
Net operating income $1,950
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.67%
Cost of funding earning assets 1.96%
Net interest margin 3.71%
Noninterest income to earning assets 0.56%
Noninterest expense to earning assets 1.57%
Net operating income to assets 1.36%
Return on assets (ROA) 1.33%
Pretax return on assets 2.22%
Return on equity (ROE) 16.45%
Retained earnings to average equity (YTD only) 15.21%
Net charge-offs to loans 0.36%
Credit loss provision to net charge-offs 134.34%
Efficiency ratio10.41%
Assets per employee$36,789
Cash dividends to net income (YTD only)11.13%
Condition Ratios (%)
Loss allowance to loans 7.58%
Loss allowance to noncurrent loans 0.49%
Noncurrent assets plus other real estate owned to assets 55.51%
Noncurrent loans to loans 0.73%
Net loans and leases to deposits0.89%
Net loans and leases to core deposits 103.23%
Equity capital to assets 131.15%
Core capital (leverage) ratio 8.18%
Tier 1 risk-based capital ratio 8.27%
Total risk-based capital ratio 13.19%
Memoranda
Average assets$14
Average earning assets$1,933,674
Average equity $156,268
Average loans $1,863,705
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1 California Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
081655Bofi Federal Bank12777 High Bluff Drive #100, San Diego, CA 92130July 04, 2000Full Service Brick and Mortar
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