Bank of Internet: Neither Tech Stock Nor Financial Black Box but Probably a Good Investment

Andrew August submits:

Banks are not the typical businesses that catch my fancy. Banking is a leveraged commodity business by definition. Many of them are currently still sorting through their balance sheets, face headwinds from regulation, are exposed to risk from derivatives and have not undertaken the steps to ensure future solvency. I also tend to shy away from internet or tech companies as well. This makes Bank of Internet

Bank of Internet (BOFI) is in many ways different from the crowd. While it is inherently levered, it is in a low cost position due to a lack of brick and mortar branches. While normally perceived as a detriment to business, a lack of fee based income removes most regulatory risk. The balance sheet is straightforward with conservative underwriting standards and

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Abbie Cornish Krista Allen Hayden Panettiere Jules Asner