SAN DIEGO, CA -- (MARKETWIRE) -- 06/19/07 -- B of I Holding, Inc. (NASDAQ: BOFI), parent of Bank of Internet USA (Bank), announced today that it is enhancing the executive staff at the Bank by splitting the chief executive and chief operating officer positions, both of which are currently held by Gary Lewis Evans.

"Recruiting a new CEO will allow Gary to focus on systems, process design, regulatory matters and execution of our product growth strategy," the Bank's Chairman Jerry Englert stated. "The new CEO will manage our dialogue with the investment community, further develop and refine our strategic plans, and build new business relationships. Gary has done an extraordinary job in building the bank from a de novo institution to a nearly billion-dollar leader in the Internet banking space. He will continue as CEO until our search is complete and our new executive is on board. Once the new CEO is hired, Gary will remain as COO and President of the Bank and will continue to play a significant role working to expand our Internet operations."

The executive search is being conducted by Kris Aasted of Aasted & Associates, Inc. (www.aastedsearch.com). Aasted & Associates, Inc. is a retained search firm with significant experience in "C" level searches in numerous industries, including the Internet and financial services.

About B of I Holding, Inc. and Bank of Internet USA

B of I Holding, Inc. is the holding company of Bank of Internet USA and trades on NASDAQ under the symbol BOFI.

The Bank of Internet USA is an $847 million consumer focused, FDIC insured, nationwide savings bank operating primarily over the Internet. It offers a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily, single family and home equity loans and securities. Bank of Internet offers its products through its websites at www.BofI.com, www.RVBank.com and www.ApartmentBank.com which include deposit accounts, such as free interest-bearing checking accounts with online paid check copies, bill payment and account statements, ATM or Visa® Check Cards and ATM fee reimbursement anywhere in the world.

Contacts:
Kris AastedAasted & Associates, Inc.www.aastedsearch.com
858-483-2100