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Bank of Internet USA Industry: Financial Founded: 1999 Headquarters: San Diego, California, USA Founder: Gary Lewis

Evans (President of La Jolla Bank- mid 1990s) Parent: BofI Federal Bank Website: http://www.bankofinternet.com/ -It is an American federally chartered, full service online ban that operates as a direct internet banking service. -One of the first banks in the world to offer banking services exclusively on the Internet. -Operates as subsidiary of BofI Holding- a publicly traded company -Insured by the Federal Deposit Insurance Corporation 2007: operated in all 50 States completely run and managed by 35 employees operating out of a single office in San Diego, California, USA. 2011: The bank had around 100 employees. August 2011: launched a person-to-person payment service called POPMONEY. Popmoney- allows customers to make financial transactions without sending cash or checks and is used both for personal transactions and paying bills. October 2011: Bank of Internet USA changed its name to Bank of Internet Federal Bank but no changes in ownership, mergers or acquisitions. -the bank chose to adopt this new name and logo in order to provide an umbrella entity under which division brands were unified -Bank of Internet USA is a subsidiary group of BofI Federal Bank, operating as the Banks flagship consumer direct Internet banking brand. *This division offers banking and mortgage products and claims that the lack of overhead fees typically used to run physical bank branches allows it to offer services at lower rates. *Because it operates solely in the internet, customers have 24- hour access to banking from any device with Internet access. -it can pay customers higher than average returns on their savings Sept. 9, 2013: BofI Federal Bank completes $173 Million Deposit acquisition from Principal bank. Goals: It aims to provide banking services more cost- effectively by reducing the overhead costs of branches. -Andrew Micheletti, CFO and VP of Bank of Internet Holding Inc. Bank of Internet USAs parent company states The internet creates a more efficient model. We are taking advantage of the internet for both efficiency in the bank office and efficiency in the distribution and delivery of banking products. Posted by Bank Profiles by Penny Saved Jan. 22, 2011; 9:36 am BofI USA: -is a fully insured, publicly traded online bank -has no bricks and mortar branches * it consistently offers some of the best nationally available CD rates * uses most of those deposits to make home loans and to finance the purchase of multifamily housing through its Apartment Bankdivision * Savings are federally insured up to $250,000 by the Federal Insurance Corp. -it is a relatively small bank with almost $1.5 Billion in total assets (the total value of all its loans, investments, real states and other holdings) and over $1 billion in deposits - There are about 7,000 commercial banks in the US and about $10 billion in assets are needed to rank among the nations 100 Biggest Banks but Bank of Internet USA is solidly profitable, & its return on assets is slightly ahead of the industry average. *One of the reasons it earns a strong four out of five stars from Bankrates safe and sound system, which evaluates Banks on asset quality, profitability and liquidity. -It enjoys a top A+ rating from the Better Business Bureau.

CITIBANK Type: Public Company Founded: 1812 Headquarters: New York City, United States Parent: Citigroup -the Banking division of Financial Services Multinational Group 1812: named City Bank of New York 1955: name changed to First National City Bank of New York March 2010: Citigroup is the 3rd largest holding company in US by total of assets after Bank of America and JP Morgan. -It is a global bank with 3, 777 branch locations in 36 countries. US is the largest singl market with approximately 26% of branches generating 51% of revenues. -entered the leasing and credit card sectors and introduced the US dollar denominated Certificates of Deposits in London marked the First New Negotiable Instrument in the market since 1888. Later became a part of MasterCard. - It introduced First National City Charge Service Credit Card- popularly known as the Everything Card-1967. 1970s: Introduced automated machines 24-hr. access to accounts. *Automated Banking Card: launched the CitiCard allows customers to perform all transactions without a passbook -branches had terminals with simple one-line-displays that allowed customers to get basic account information without a bank teller. 1976: named CitiBank, North America -created its own one bank holiday company and wholly owned subsidiary shareholders of the new corporation of that company, CitiCorp. October 19, 2011: Citigroup agreed to $285 fraud penalty 2013: CitiBank was awarded Global Bank of the yea r in the Bankers Annual Awards. CitiBank Online Banking: -with 15 million users nationwide Services Provided: -Free Online Bill payment -account alerts -online Bank Statements -Online Check Images -online transfer Services -Popmoney -Online and Mobile Fraud Protection -24/7 customer support Online Banking Customer Service -If one has any questions or complaints, one can contact CitiBank customer service to get the problems solved. For online banking support, customers can call customer service representative to make a quick inquiry on phone number 1-800-374-9700 in USA. ONLINE BANK COMPETITORS: 1. Ally Bank average of rate 0.87% 2. American Express AXP- 0.86% 3. Sallie Mae Bank- 0.85% Traditional Banks; 1. Mile High Bank- .74% 2. Capital One Bank- . 68% 3. Zion First National Bank- .64% By: Forbes.