Incredibly great BOFI presentation filed today

http://archive.fast-edgar.com//20150909/ARZ9B22CZ22XK2Z2222I…

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Very informative. Although I was sorry not to find a masonic religious lecture to all employees on the summary slide.
:wink:
Ant

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Thanks Saul,
You’re right about the presentation, but I just can’t shake my negative feelings about CEO Garrabrants. I can’t trust this guy with my money.

I’ve reinvested the funds from the sale of my BOFI in CASY. It may not be as profitable, but I feel the company is run by more level-headed management. Of course, that might be an illusion. When you get right down to it, it’s really hard to know very much about management, but when you have about 10% of the employees write unsolicited negative reviews of the leadership I find it hard to ignore.

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The cost of deposits and % of deposits in “transactional accounts” or in “hot money” has been an issue. Subject to various claims. This presentation shows checking and savings as 44.7% of deposits. CD’s are 17.8%. The money market deposits are 36.5% and it seems that this amount is considered “sticky” or “hot” depending on the bull/bear position of the writer. I don’t think I’ve ever had a MM or CD at a bank so I have no opinion as to whether they are sticky or hot deposits.

KC

Hi Brittlerock, Just curious… How do you know they were employees at all? And not an orchestrated part of the Citron short attack? Was there a flurry of them recently or were they spread out over the years?
I’m just wondering.
Saul

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Saul, yes, I looked at that. They were spread out over time. Many postings prior to Citron’s attack. I suppose they still could have been part of well planned attack and intentionally spread out like that. But then it seems that Citron would have made an issue out of Garrabrants’ behavior but they didn’t. Mostly, if I recall, there attack went after the quality of the borrower, interest spreads, etc. - financial underpinnings of the bank, management strategy, but not HR issues (by the way, 500 employees and no HR department).

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you have about 10% of the employees write unsolicited negative reviews

But they only have 467 employees. No wonder they are so efficient.

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But they only have 467 employees. No wonder they are so efficient.

I was thinking the same thing. They must be maximizing the employees…