How BofI Holding Makes Most of Its Money

Online-only bank BofI Holding Inc. (NASDAQ: BOFI) -- the "BofI" stands for "Bank of Internet" -- has grown tremendously in recent years. In fact, the bank's assets have increased by 180% since 2013, and net income has grown by 240% in the same period. Here's a closer look at what BofI does, and how it makes its money.

BofI Holding operates Bank of Internet, an online-only bank, as well as a few other online financial brands. There are no physical branches, and just one office building where the bank conducts its operations. As of its most recent quarterly report, the bank has about $8.7 billion in total assets.

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Source: Fool.com