UPDATED August 8, 2016.

TIAA to Acquire Florida’s @EverBank for $2.5B


Jacksonville, Fla.-based EverBank Financial Corp (NYSE: EVER) said it is in advanced negotiations with “a well-respected financial services company” to be acquired for “$19.50 per share,” implying a value of $2.44 billion.

“There can be no certainty that these negotiations will result in a definitive agreement or that the terms will not vary from those currently under discussion,” the company said in a statement.

EverBank further noted that it had entered into an agreement with the financial services company to negotiate “exclusively” with it regarding a transaction and “such exclusivity agreement expires at 11:59 p.m. on August 8.”

EverBank is said to have engaged UBS Group AG in the past two months to explore a sale, Bloomberg reported earlier.

For the second quarter ended June 30, 2016, EverBank reported total assets of $27.4 billion, total deposits of $18.8 billion, and $1.9 billion in total equity capital. Revenue for the second quarter of 2016 was $197 million, and adjusted net income was $40.5 million.

The bank was founded in 1994 by chairman and CEO Robert Clements and has grown through a series of acquisitions. The company offers its products and services through an integrated online and mobile financial portal, and financial centers.

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