BOFI Award

BofI Holding, Inc. (NASDAQ: BOFI) (“BOFI” or “the Company”), parent of BofI Federal Bank, announced that the Company made the 2016 Raymond James Community Bankers Cup Winners list. This is the third consecutive year BOFI received this recognition.

Raymond James & Associates, Inc. evaluated 281 community banks on six financial performance metrics focused on asset quality, profitability and returns: nonperforming assets to loans and real estate owned, five-year average core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity.

Doesn’t seem to be a company headed to jail to me.

H&R Block Inc. said Wednesday that it has approved 840,000 refund-advance loan applications worth about $700 million this tax season, its first time offering the fee-free product. Meanwhile, Liberty Tax Inc., which runs Liberty Tax Service and SiempreTax+, said Wednesday it had a 40% increase in such refund advance loans from a year ago, rising to 175,000 loans approved as of Feb. 28.

It sounds like this Liberty Tax Inc is the service BOFI is providing to H&R Block. Does anyone know if that’s true?

And why do people get advanced loans on refunds? I got my tax refund within 3 days from State and 1 week from Federal.