How it started
History
Axos was founded in 1999 as BofI Holding, Inc., by Jerry Englert, the founder of Bank of Del Mar, and Gary Lewis Evans, president of La Jolla Bank, with $14 million of startup capital. It began operations as Bank of Internet on July 4, 2000. The start date of July 4 was purposely chosen because it showed that the bank would be open on a day that other banks were closed due to Independence Day and because the internet bank represented "Independence from traditional banking".
BofI became a public company via an initial public offering on March 15, 2005. It offered 3,052,745 shares of common stock at a price of $11.50 per share.
Gregory Garrabrants, previously senior vice president at IndyMac Bancorp, was appointed CEO in October 2007. In 2018, Garrabrants earned $34.5 million, making him the highest paid bank CEO of that year.
On October 1, 2018, BofI Holding re-branded as Axos Financial, and switched its stock exchange listing from NASDAQ to the NYSE. Bank of Internet was rebranded as Axos Bank.
From Wikipedia’s article on BofI Federal Bank, shared under CC BY-SA 4.0.2