Business Context and Reporting Period
This Form 8-K is filed by BofI Holding, Inc. (parent of BofI Federal Bank) on September 6, 2013, with the report signed on September 9, 2013. The filing reports the completion of a deposit acquisition from Principal Bank.
Key Financial Metrics
The filing details a specific transaction rather than full-period financial statements. Key metrics related to the event include:
- Total Deposits Acquired: Approximately $173 million.
- Transaction Breakdown: $142 million in checking, savings, and money market accounts; $31 million in time deposit accounts.
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity for the reporting period.
Material Changes
The primary material change is the expansion of the Bank's deposit base through the acquisition of $173 million from Principal Bank. No comparative financial data for prior periods is provided in this document.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies beyond the announcement of the completed transaction. No unusual items are disclosed.
Investor Verification Checklist
- Verify the integration status of the $173 million in acquired deposits.
- Review the full text of the press release (Exhibit 99.1) for additional terms of the acquisition.
- Confirm the impact of this deposit growth on the Bank's cost of funds and liquidity ratios in subsequent quarterly reports.