BofI Federal Bank, the banking subsidiary of Axos Financial, Inc. (NYSE:AX), announced that effective today, it has rebranded as Axos Bank. Concurrent with the rebrand to Axos Bank, BofI Federal Bank will cease utilizing the consumer brand Bank of Internet, U.S.A.
Commenting on the rebranding of BofI Federal Bank and the sunsetting of the Bank of Internet, U.S.A. name, Mr. Garrabrants stated, “We started our digital banking journey almost two decades ago with our Bank of Internet, U.S.A. brand focusing consumers on the value that we delivered to them as a result of our digital delivery and streamlined cost structure. Our business has evolved, and we serve a diverse set of consumers, small businesses, and institutional clients through a variety of channels and strategic partnerships. Our new brand better reflects the diversity of our existing businesses and aligns more closely with our strategic vision to utilize technology to differentiate and personalize financial services to our diverse client base. We will not lose our heritage as a financial institution that was born digital and we intend to aggressively utilize technology to evolve our banking experience to ensure that we remain a leading technology-driven financial services company.”
Axos Financial, Inc., formerly BofI Holding, Inc. (NASDAQ: BOFI), also announced the completion of its transfer of its stock exchange listing of common stock and subordinated notes from the NASDAQ Global Select Market (“NASDAQ”) to the New York Stock Exchange (“NYSE”). Axos Financial began trading on the NYSE this morning under the new ticker symbol “AX” for its common stock and “AXO” for its subordinated notes. The Company’s common stock and subordinated notes ceased trading on NASDAQ at the close of the market on September 28, 2018. President and Chief Executive Officer Greg Garrabrants said, “We are delighted to join the vast majority of significant financial services companies that have chosen to list their securities on the NYSE. We are pleased to have obtained our new ticker symbol, “AX”, one which reflects accurately the new name of our organization, is memorable, and easily identifiable.”
About Axos Financial, Inc.
Axos Financial, Inc. is the holding company for Axos Bank. Axos Bank is a nationwide bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. With nearly $10 billion in assets, Axos Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners. For more information on Axos Bank, please visit axosbank.com.
Johnny Lai, CFA
VP, Corporate Development and Investor Relations