Maybe the best banks don't have any branches at all. Internet-based bank BofI Holding (NASDAQ:BOFI) has grown tremendously in recent years. From mid-2013 through the end of 2017, the bank has grown by more than 250%.

However, there could still be lots of room to grow in the years (and decades) ahead. Here's a rundown of what you need to know about this bank and its advantages, as well as how it could potentially grow to several times its current size.

What does BofI do?

The simple description is that BofI Holding (which stands for Bank of Internet) is an online-only bank. It offers many of the same features as brick-and-mortar banks, such as checking and savings accounts, CDs, and mortgages -- but without physical branches.