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BofI Federal Bank Overview

San Diego, CA
501 to 1000 employees
1999
Company - Public (BOFI)
Banks & Credit Unions
$100 to $500 million (USD) per year
Located in scenic San Diego, CA, BofI Federal Bank is a trailblazer in online banking. We aspire to be the most innovative branchless bank in the United States, providing products and services that are reliably superior to our branch-based ... Read more

Company Updates

  • For the second year in a row, BofI made the Fortune Magazine list of the top 100 Fastest-Growing Companies in America. Companies are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2017. BofI scored the 68th spot this year. For more information, click here: http://glassdoor.com/slink.htm?key=vQyYp

    BofI Holding, Inc. Makes Fortune Magazine’s 100 Fastest-Growing Companies List

    BofI Holding, Inc. (NASDAQ: BOFI) (the "Company" or "BOFI"), parent of BofI Federal Bank, announced that BOFI was named to Fo

  • We strive to hire the right people in the right positions. Our people are our company's greatest resource. The culture here is for self-driven, collaborative high achievers in a fast-paced, dynamic culture.

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BofI Federal Bank – Why Work For Us?


BofI Federal Bank, a diversified financial services company with approximately $8.7 billion in assets, provides innovative checking, money market, savings, and lending products and services to our personal and business banking customers throughout the United States. We operate our bank from our headquarters in San Diego, California.

Because we do not incur the significantly higher fixed operating costs inherent in a branch-based distribution system, we are able to provide a better value to our customers. This means that our interest rates on deposit products are generally among the highest available and our loan products feature low interest rates and fees. We distribute our deposit products through a wide range of retail distribution channels and distribute our loan products through retail, correspondent, and wholesale channels.

Our capital markets division focuses on the origination of commercial and industrial loans in target vertical markets as well as bulk loan purchases and sales to help our customers diversify loan portfolios, generate fee income, and manage their balance sheets.

If we do not count you yet among our growing family of customers, we hope to do so in the near future.

Our employees are visionary and diverse self-starters. High performers are wired a little bit differently; they thrive on challenge and a fast paced environment and welcome being held accountable to ambitious goals and rigorous standards. Meritocracy is embedded in our DNA. It is demonstrated through our ability to appreciate, respect and reward the hard work our people accomplish; they go the extra mile and we understand it isn’t easy. We believe our people are unique and that they’re at the core of our success.

Growth

BofI Federal Bank is growing fast; our people have premier careers on the cutting edge of the banking sector. There are countless challenges and opportunities for talented and motivated individuals to tackle, and we actively encourage each person to stretch and grow to attain their potential. With our high caliber mentorship, our employees are confident they have the resources and support needed to accomplish the toughest challenges.

Your career trajectory is directly tied to your individual performance and the value demonstrated by your contributions. One of the unique characteristics of a career at BofI is the Bank’s consistent financial growth; this translates to the accelerated organic career growth opportunities for our high performers. As the Bank continues its rapid growth, we understand that providing opportunities from within is key to our Values and meritocratic culture. Great performers can be hard to come by and we want to make sure we retain and attract the best and brightest.

 

Our Values

Emotional Involvement

Emotional involvement is what makes the difference between excellence and just getting by. Enthusiasm and excitement about your work are keys to success while detached, dispassionate, and disinterested efforts are the recipe for failure. Your work has to become a real personal passion and part of your identity. Our goal must be to be genuinely emotionally invested in our work and create an uplifting environment for ourselves and others.

 

Character

BofI defines five pillars of character:

Trustworthiness

Trustworthiness is the most important of the five core ethical values and encompasses a variety of qualities like honesty, integrity, reliability, and loyalty.

 

Respect

People are not things. Everyone has a right to be treated with dignity. Respect encompasses notions such as civility, courtesy, decency, dignity, autonomy, tolerance, and acceptance.

 

Responsibility

Life is full of choices. Being responsible means being accountable for what we do and who we are. Ethical people show responsibility by being accountable, pursuing excellence, and exercising self-restraint.

 

Fairness

Fairness requires that we trust individuals appropriately based upon their performance. Fairness depends on external factors, such as circumstances, situations, performance, or contribution.

 

Caring

It is easier to love "humanity" than to love people. A person who really cares feels an emotional response to the pain and the pleasure of others.

 

Growth in Competence and Knowledge

Successful professionals voraciously acquire and apply advances in their own knowledge to specific challenges. Continuous acquisition of applicable knowledge requires openness to and the aggressive seeking of new experiences that will stretch you beyond your comfort zone. Acquisition of knowledge is an investment in oneself that requires a real personal passion, emotional involvement in one's work, and a deep sense of pride in your expertise within your area of competence.

 

Superior Individual Performance within our Meritocracy

We exalt superior individual performance. We reward individual performance through a meritocratic evaluation processes. We believe that great companies are built by great individuals. At BofI, we hold the old-fashioned belief that hard work and success can’t be separated.

 

Teamwork

While independent thoughts and personal contributions are critically important, our work is accomplished within teams. Each of us must consistently act to achieve the agreed-upon objectives of the team with respect for our fellow colleagues, while acting in a mutually supportive manner. We need outstanding individuals producing superior individual performances, working together to create an outstanding team.

 

Rationality (Fact-Based Objectivity)

We use facts to make rational decisions at BofI. Rational thinking is a learned skill, which requires mental focus and a commitment to improving the clarity of our mental process. Rational thinking expresses itself in the work product and thought processes we utilize to govern ourselves.

 


When BofI was founded back in 1999, it was the first bank on the internet.  Hence its original name: Bank of the Internet.  And so it remained until about 2007, when the bank began to diversify, just as the bigger banks increased their online presence.  Bank of the Internet became BofI--a diversified financial services company.  Now with 15 business lines, including residential mortgage, commercial real estate, specialty equipment finance, auto lending, factoring, and more, a career at BofI is one of both the opportunity to grow within a single niche as well as the ability to work closely with, and to learn, other lines of business.  And to make a difference throughout.

For more information on our lines of business, click here.

BofI provides our team members with best-in-class benefits and perks. We have a comprehensive package of medical, dental, and vision insurance to ensure you, your spouse, and your dependents are covered. Check out our complete list of benefits and perks below. We take feedback from our team seriously, so we frequently evaluate new opportunities to enhance the offering.

A comprehensive list of our benefits and perks:

  • 401(K) Retirement Saving Plan and employer match program
  • Employee home loan program
  • Health insurance
  • Dental insurance
  • Vision insurance
  • Life insurance
  • Disability insurance
  • Employee Assistance Program
  • Accident Insurance
  • Critical Illness / Cancer Insurance
  • Hospital Indemnity Insurance
  • MetLaw Legal Plan
  • Employee Referral Program
  • Complementary high-end fitness centers
  • Opportunity to participate in community service during work hours
  • Discounted movie tickets
  • Employee Wellness Program - including BofI Athletics

BofI Federal Bank Reviews

2.9
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Recommend to a friend
Approve of CEO
BofI Federal Bank President and CEO Gregory Garrabrants
Gregory Garrabrants
82 Ratings
  • Featured Review

    Helpful (3)

    "Great for those who want a challenge and will work hard"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BofI Federal Bank full-time (More than a year)

    Pros

    Lots of opportunity for hard-workers and problem-solvers, very smart CEO, growing company, innovative and fast-paced compared to other bank competitors, great location. You will learn SO MUCH in a short amount of time due to being exposed to various areas out of need. Smart people, and tons of work that needs to get done.

    Cons

    Competitive and demanding. Pace of change is quick and can be stressful if that is not the environment one does well in. As the bank has grown, some unnecessary bureaucracy is popping up that needs to be streamlined.

See All 130 Reviews

BofI Federal Bank Photos

BofI Federal Bank photo of: Shopping center across from HQ
BofI Federal Bank photo of: HQ
BofI Federal Bank photo of: San Diego Headquarters
BofI Federal Bank photo of: Shopping Center Across the Street from HQ
BofI Federal Bank photo of: San Diego Headquarters
BofI Federal Bank photo of: HQ at Sunset
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BofI Federal Bank Interviews

Experience

Experience
25%
20%
55%

Getting an Interview

Getting an Interview
42%
34%
11%
5
4
2
2

Difficulty

2.6
Average

Difficulty

Hard
Average
Easy
  1. Featured Interview

     

    Analyst Interview

    Anonymous Employee in San Diego, CA
    Accepted Offer
    Positive Experience
    Easy Interview

    Application

    I applied through a recruiter. The process took 4 weeks. I interviewed at BofI Federal Bank (San Diego, CA).

    Interview

    3 rounds roughly 45 minutes each round.
    Whole process was a breeze. Recruiter kept me engaged the entire time and was very responsive. Offer came in rather quick.

    Had to take 2 wonderlic tests which were very easy.
    One at home and one on site. It is a 50 question test with a 12 minute timer. You do not have to finish all 50. If you want to impress, finish all 50 and answer them correctly.

    Some managers require a score higher than "X" to move onto the next round or for an on site interview.

    Interview Questions

    • Tell me what you do in your current role?
      Tell me about a time you failed at something and what did you do   Answer Question

    Negotiation

    Unable to negotiate

See All 58 Interviews

BofI Federal Bank Awards & Accolades

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