Charter Approved For San Diego-Based Bank Of Internet USA

San Diego, CA - The Bank of Internet USA (BofI), headquartered in San Diego, CA, received their banking charter and is scheduled to open in June 2000. BofI offers customers traditional banking and loan services entirely over the Internet.

"Time is our most valuable and limited resource," said BofI Chairman Jerry Englert. "Bank of Internet was created to save our customers time and money."

Although BofI serves the Internet community, the bank organizers selected the San Diego area as their headquarters because it is one of the most computer literate and technically sophisticated areas in the country. Described in a recent Nielsen/Net Ratings Report as an "Internet Hotbed," San Diego was ranked the second highest city in the nation for percentage of population with Internet access in their homes.

Bank of Internet was created by twenty original organizers who made San Diego history by raising more start up capital (over $14,000,000) than any previous bank in the county. According to the BofI organizers, few banks have as much Internet experience as the management and directors bring to BofI. President of BofI Gary Lewis Evans is a pioneer Internet Banker and long time San Diego Banker.