BofI Federal Bank, the banking subsidiary of Axos Financial, received regulatory approval from the Office of the Comptroller of the Currency to proceed with its purchase of certain assets and assumption of certain liabilities from Nationwide Bank.
Reuters reported H&R Block announced it would sell its bank unit to BofI Federal Bank, generating excess capital of $200 million to $250 million. Goldman Sachs and First Annapolis Consulting were said to be acting as financial advisers to H&R Block.
BofI Federal Bank has closed on a $22.5 million bridge loan with 7 West 44th St. Realty in connection with Realty’s acquisition of the Paragon Building.
Specialty lender RCN Capital said it closed on a $25 million revolving credit facility with BofI Federal Bank. The financing will promote company growth.
BofI said it has expanded its Commercial and Industrial Lending, Lender Finance Division (C&I) under the leadership of Patrick Walsh and Salvatore Salzillo.
BofI Federal Bank announced the addition of a HealthCare Finance specialty in its C&I lending division. James Irwin, Jr., founder and president of MC Healthcare Finance, was named to lead the unit.